Rental Arbitrage is a method similar to house hacking, however, the only difference is that you don't own the house. Anyone have experience with STR arbitrage in Chicago?Arbitrage is NOT good business and its simply NOT an intelligent way to find success. Airbnb rental arbitrage is the act of renting a property longterm and then rerenting it shortterm on vacation rental sites like Airbnb or Vrbo. Rental arbitrage is a business model where an individual or entity rents a property longterm and then rerents or sublets that property on a shortterm basis. The "No Arbitrage Principle" has many variations, but the basic idea is that "no" arbitrage can be expected to be found in a real economy.