Recently I became a host using a suite of a house that I have no ownership in. I built the house that is mortgage free and is now owned solely by our family trust. My wife is a trustee of the trust. Our kids are the beneficiaries of the trust. My wife has agreed that I can run an Airbnb business using the suite and we will have a solicitor draw up that agreement.
All running costs and profits will be managed by my established business. The trust does not receive any income from my established business or my Airbnb business.
My question is does Airbnb support or recognize such an arrangement? Is it OK that I run the business without owning the house?
My accountant has told me, "The other thing to check out is if Airbnb has requirements regarding the legal ownership of the Property ie will the Trust need to be the ones that register the property with Airbnb."