All Forum Posts by: Aly W.

It's amazing how much lack of self-awareness there is in people. I've had applicants be flat out rude to me and still expect to go through the application process! You certainly dodged a bullet....a whole arsenal.

Thanks as well! I'm hoping to learn more about STRs in that area here. We rented an AirBnB a few years ago in Hollywood that the owner bought at the bottom of the crash. That's when we bought our LTRs. What he paid for that 1 bedroom condo across from the beach makes you want to cry now :) 

My husband and I have long term condo rentals in Ft. Lauderdale, and we live in NJ. None of our condo associations allow STRs - the minimum rental period is 6 months, and has been that way for the 10 years we've been investing there.

That is not to say that it doesn't go on. But we do not want to test the waters with it. And Ft. Lauderdale multi families are hard to come by in areas that vacationers would want. Hollywood has a lot of them, but the prices went crazy about 5 years ago.

My husband and I have had long term rentals in Florida for almost 10 years, and we live in NJ. We have a contractor that handles the repairs/turnover, and I manage everything else. We were interested in the STR market in Gatlinburg, as we have a friend who bought a cabin there, all cash investment. She had to move from CA to TN to stabilize the operation - cleaning people that didn't show up, contractors stretched thin, etc. She took on the cleaning herself for a while. While it did seem like a pot of gold, and we were looking into it, we decided one long distance investment strategy was enough to handle. She said it's much more work than she anticipated.

@Jennifer T., the size of the deposit I would require would basically be enough for you to buy your own rental!! :)

I have a friend who just bought her 3rd cabin there. She moved from CA to TN for a year to stabilize the operation, as reliable cleaning has been a big problem. She's often had to do it herself when the cleaning person didn't show up or couldn't take on any more jobs. 

But the thought of paying more than 20% for a management company is shocking. My husband and I own long term rentals in FL, which we self manage from NJ (our contractor is in FL for repairs). I can't imagine a 20% fee on top of the usual expenses - and then you have the *un*usual expenses. 

But congratulations @Doreen M ODonovan, I wish you the best and we are still considering the area. Looking forward to more information.

Condo associations set most of the rules....I don't allow smoking either, though ;) 

And today's email from Craigslist for our rental condo:

Applicant: I am a law student with a credit score of 620 and can provide income verification. I also have a service animal. Is this okay? Thank you

Me, vaguely wondering what kind of animal: If your service animal is under 30 pounds full grown, per the condo association, give me a call.

Applicant: That's discriminatory. You know there is a federal law prohibiting that correct? I'll be reporting this. Thanks anyway

Me, not bothering to email back, but the fact that he is a law student (if true) is a bigger red flag than an alleged service animal. Which in Florida could be an alligator, python, whatever.

We have a condo for rent that's available January 11, 2020. Yes, that's in the listing description, as well as the pet policy.

First call today - "I know your ad says one full grown pet under 30 pounds, but my dog is a service animal".

Me: Of course it is. What do you have and how big is it? (expecting a pit bull)

Caller: A golden retriever with all the paperwork, 65 pounds.

Me: Well, you could discuss it with the condo association, but I doubt they'll accept it. The unit is available in January.

Caller: Oh, I need to move in 2 weeks. 

Me: I hope you find a place, thanks for calling. 

Hi, I'd suggest talking to lenders to see what their guidelines are for that area. If you buy a property with enough room to renovate and make a profit, possibly. Vacant houses in Trenton are often not insurable beyond 60 days and they are also a target. We sold our houses there last year, after buying them 10 years ago, so I'm not really familiar with the current climate.