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Updated almost 5 years ago,
- Rental Property Investor | Realtor
- Jacksonville FL | Savannah Ga |Raleigh NC
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absentee landlord switching from LTR manager to STR manager, how
I have a 3 bed 2 bath in Cary NC outside of Raleigh, its quiet, backs to trees, chill hoa. i have had it leased annually for years and i have not seen it in years, its very passive, with a manager, though not great profit.
i want to change it to furnished 3 night minimum airbnb to weekly or even monthly. i want to furnish and give this to someone to manage. i want to maintain the passive income and location independence, and i will Not be local same city or country for emergencies.
Do I look for a current local host? do i use 25% of income as a foundation pay agreement? Im worried about this handoff honestly, (who, and how). it's been so passive.
Annual property managers are everywhere, they are companies, on auto pilot, and can be lazy on stand by. short term managers are individual people and there is more room for error.