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Updated over 2 years ago,
Attorney to review short term rental profit sharing contract
Hi BP,
I live in Dallas, TX and I am considering letting someone manage my 4 bed 4 bath property to rent to short term/medium term tenants and do a profit share 50/50.
I am looking for a real estate attorney that can review the contract this gentleman is drafting and provide any recommendations/cautions for profit sharing with a manager.
I have another property with a PM managing a long term tenant and I like that my responsibility is zero. I don’t have the time/nor want to manage short term tenants due to traveling for my job.
The PM who manages my other property is interested in managing this property as a LTR as well if I decide not to move forward with profit sharing.
Thanks in advance for any advice.
-Blake