Converting property into multi-unit Inn leveraging Airbnb platform - business / licensing considerations

[Tammy70]

Hello Host Community,

I am currently converting my property into a full fledged Inn with 3-4 self-contained units and curious if any other hosts have done or considering such.  I am currently in a SBDC business training program and in the beginning stages of building out my business plan.  I have actually been an Airbnb host since 2016 but looking to retire in the next year and transitioning into my retirement career as an Innkeeper.  I would love to hear your experiences and advice.  

Thanks so much,

Tammy

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[Debra300]

@Tammy70,

You're already a pretty seasoned host.  I looked at your listings, and you have several reviews and very good overall ratings for both listings.  What areas do you have questions to help you complete your business plan?  I am also creating a business plan.  Personally, I am having difficulty with forecasting earnings for 2021 due to frequent and sudden travel restrictions, including stay-in-place orders.

We recently did renovations in my listings.  These are some of the changes that were made:

Atlanta

1. Converted our master bedroom, en-suite and walk-in closet into a one bedroom/two bed apartment with laundry, and it's own balcony.
2. Closed off the door way between the house and apartment, and soundproofed the common walls with a second layer of dry-wall on each side, and Green Glue Soundproofing Compound.

St. Lucia

1. Closed the shared guest kitchen and guest balcony.
2. Installed a small kitchen, a compact washing machine, a spin dryer, and cleaning supplies, in each guest suite to make them totally self-contained.  They are now studios.
3. Changed to hospitality white towels from the over-sized towels so guests can wash them in the small washing machines.