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The rent for my 225-square foot, one-bedroom apartment in a Murray Hill non-doorman building is $1,525 a month. When I travel, I offset my costs by renting out my apartment by the night (three-night minimum) throughAirBnB.com. Yes, I let total strangers stay in my place—42 guests in two years. I’ve collected $14,000 (after AirBnB takes its cut). And I recommend it highly.Here’s what you need to know, in case you’d like to try it yourself. [Ed.’s note: Before you do, remember that it’s illegal to rent out a NYC apartment for less than 30 days.]
Frequent traveller’s dream
I travel a lot, and my trips guide my AirBNB use, since my apartment is my primary residence and is too small for me to both host people and stay here myself. As soon as I’ve booked my latest jaunt, I make the dates available on the AirBNB site—even if I’m only going to be gone for a week. I charge $99 a night, with a three-night minimum and a three-month maximum. Last year I went to Spain for three months, and I had people stay in my place the whole time. That’s almost $9,000.
Generally speaking, people stay for a week at a time. So if I’m gone for three weeks, I may have three separate sets of visitors here—some staying for five nights, some for seven, some for nine. They overlap.