All Forum Posts by: Andrea Cole

There's many of these floating around but here's my final list based on the STR we launched in January:

https://docs.google.com/spreadsheets/d/1-zjlwrDlC2...

We have a 2 bedroom/1 bath. Cleaning takes about 2 hours. He takes laundry off-site. We looked into replacing our current washer/dryer for a hi-capacity set but bought new, it doesn't really make financial sense. Personally, I don't like my linens being taken off-site but it's worked fine so far and our housekeeper is also OK with it. So, if it ain't broke...

We just furnished a 2 BDR 1,200 sq ft STR in High Point, NC. It cost us about $4k. I like sourcing items from auctions, thrift stores, and up-cycling so take that into consideration. If you're just going out and buying new, it will cost more.

Thanks for the input everyone. Glad to see going independent cleaner vs. big box is the right path. I'm not involved with any local real estate groups so I should probably look into that. In case anyone is interested, these are the questions we decided to ask as part of the vetting process:

1. Do you work alone or as a team? If you have a team, how many do you employ and will it be the same team each time?
2. Are you insured? Can you provide proof of insurance?
3. Can you provide 3 references that we can speak with?
4. Are there any supplies we need to provide?

We're looking to start using cleaners for our Airbnb. This is new to us so I'm wondering if you guys have any tips on how to vet them? I'm considering using independent cleaners or mom and pops vs. the big companies.

We have solar panels on our personal residence and @Josue Vargas is correct, it depends on tax incentives (and the size of the system you install). If you're going to keep the property long-term, break-even is usually after 7 years. What you have to ask yourself is if that return is better than investing that money elsewhere, like another property. Do the math on installation costs and savings to decide if the return makes sense for you.

Thanks @Ethan Cooke. I took a look at Cozy and it seems pretty impressive. I've always considered mid or long-term furnished rentals as our Plan B if we want to move to something a little more passive. Looks like I'm not the only one who has had that thought (which is comforting). I've always loved real estate and I also love interior design which is why rehabbing and renting through short-term is appealing--I get to renovate AND furnish. 

Also, for anyone that's interested, we decided to offer the couple the old fashioned month-to-month lease agreement if they're planning to stay longer than 30 days. We're still new to all this so I'd rather have a straight forward legal doc than rely on Airbnb's legalese. We'll see what happens...

@Paul Sandhu +1 for auctions. We use this site: AuctionZip.com

Be careful--it becomes an addiction! Plus I just like hoarding furniture so I'm double screwed...

I imagine this question has been asked already but search doesn't allow me to just search this forum so I'm coming up dry on answers. SO, I'll potentially ask again.

How do you guys handle stays longer than 30 days? I know this gets into tenant rights and different counties/states have different rules so I'm going to get answers all across the board. BUT, generally speaking, what do you do?

I have an Airbnb guest asking about a 45 day stay (or longer). Their house is under contract and they will need temporary housing while they find their next home. I don't have any reason to believe this is anything but the truth.

Do you let them book through Airbnb and then have them sign a separate agreement? Do you run credit and background check like you would for a long-term tenant? Or do I take this off Airbnb totally and just go through a month-to-month lease agreement?

I know I prob need to talk to my attorney too--I'm just looking for input and tips from someone who's done it.

@Michael Greenberg Floor plan is an excellent idea! Is there a program you used or just something like Photoshop?