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All Forum Posts by: Anthony Taylor

Anthony Taylor has started 3 posts and replied 20 times.

Post: Property Management Airbnb

Anthony Taylor
Pro Member
Posted
  • Posts 20
  • Votes 2

Hey everyone!!

My wife and I are moving to Virginia Beach area for work and we are wanting to Airbnb our home! We're meeting a potential property manager tonight! What are some good questions to ask?

Post: We want to rent our home out!

Anthony Taylor
Pro Member
Posted
  • Posts 20
  • Votes 2

Thank you Yiwei!!

Post: We want to rent our home out!

Anthony Taylor
Pro Member
Posted
  • Posts 20
  • Votes 2
Quote from @Anthony Taylor:
Quote from @Yiwei Cheng:
Quote from @Anthony Taylor:
Quote from @Yiwei Cheng:
Quote from @Anthony Taylor:

My wife and I had a change of heart and now instead of midterm we wanted to do long-term rental of the home? What are your thoughts on this. Will be living in Hawaii for awhile and coming back periodically.


 Anthony, what are you looking for and goals for renting out your current home?  Are you looking to just cover your expenses or are you wanting something more passive?  Mid term rentals are more passive than short term rentals but there is still work to do to look for guests, making sure the house is cleaned properly in between guests, etc.  Long term rental is the least amount of touchpoint but it won't make as much as mid term rental.


 Yiwei!! Thanks for your response! But we definitely want to rent the house out long term but my wife doesn't want to leave the furniture in the house because it's so expensive...She went all out with the purchase of our first home. What do you think about getting a PM. What to look for when doing so?  We want to cover the mortgage for sure.


 If you are not leaving the furniture, I would recommend long term rental.  A PM would be good since you are out of state and have no experience with tenants previously.  I would recommend getting local referrals or asking around who is good.  Make sure they prioritize the management side and have good contractors they work with.



Post: We want to rent our home out!

Anthony Taylor
Pro Member
Posted
  • Posts 20
  • Votes 2
Quote from @Yiwei Cheng:
Quote from @Anthony Taylor:
Quote from @Yiwei Cheng:
Quote from @Anthony Taylor:

My wife and I had a change of heart and now instead of midterm we wanted to do long-term rental of the home? What are your thoughts on this. Will be living in Hawaii for awhile and coming back periodically.


 Anthony, what are you looking for and goals for renting out your current home?  Are you looking to just cover your expenses or are you wanting something more passive?  Mid term rentals are more passive than short term rentals but there is still work to do to look for guests, making sure the house is cleaned properly in between guests, etc.  Long term rental is the least amount of touchpoint but it won't make as much as mid term rental.


 Yiwei!! Thanks for your response! But we definitely want to rent the house out long term but my wife doesn't want to leave the furniture in the house because it's so expensive...She went all out with the purchase of our first home. What do you think about getting a PM. What to look for when doing so?  We want to cover the mortgage for sure.


 If you are not leaving the furniture, I would recommend long term rental.  A PM would be good since you are out of state and have no experience with tenants previously.  I would recommend getting local referrals or asking around who is good.  Make sure they prioritize the management side and have good contractors they work with.


Post: We want to rent our home out!

Anthony Taylor
Pro Member
Posted
  • Posts 20
  • Votes 2

I like the idea of self management, at this point that would make the most financial sense! Are there any tools you'll recommend? Our mortgage is 3,000.00 a month rounded it up. If we can clear that by renting it out that would make us pretty happy.

Post: We want to rent our home out!

Anthony Taylor
Pro Member
Posted
  • Posts 20
  • Votes 2
Quote from @Colleen F.:

@Anthony Taylor  if you are just looking to cover costs and will leave your furniture I would block off a room for your stuff and de personalize it.  Rent it as say a 2 bedroom if it is a 3 bedroom. Do some midterm rentals.  If you are coming back periodically, do you want to use the house? or do you have somewhere else to stay?  It might be hard to plan your stays if you rent as a full unit unless you have a set month you will be there.  otherwise it might not co-ordinate with your renter.  We have rented as a room and just said we won't be there often but you are getting a room price for that.  Ideally if you would get the best price if you  have a seperate entrance area of the house you can periodically occupy that and treat the main part of the house as a unit you don't have access too. You have like a hotel room without a kitchen when you come home.  All depends on your goals and your house setup.


 Colleen! Thank you for your reply! My wife is not willing to leave the furniture in the house because it's to expensive. She went all out on our first home! 

Post: We want to rent our home out!

Anthony Taylor
Pro Member
Posted
  • Posts 20
  • Votes 2
Quote from @Yiwei Cheng:
Quote from @Anthony Taylor:

My wife and I had a change of heart and now instead of midterm we wanted to do long-term rental of the home? What are your thoughts on this. Will be living in Hawaii for awhile and coming back periodically.


 Anthony, what are you looking for and goals for renting out your current home?  Are you looking to just cover your expenses or are you wanting something more passive?  Mid term rentals are more passive than short term rentals but there is still work to do to look for guests, making sure the house is cleaned properly in between guests, etc.  Long term rental is the least amount of touchpoint but it won't make as much as mid term rental.


 Yiwei!! Thanks for your response! But we definitely want to rent the house out long term but my wife doesn't want to leave the furniture in the house because it's so expensive...She went all out with the purchase of our first home. What do you think about getting a PM. What to look for when doing so?  We want to cover the mortgage for sure.

Post: We want to rent our home out!

Anthony Taylor
Pro Member
Posted
  • Posts 20
  • Votes 2
Quote from @Jamie Banks:

If you’re looking to leave your furniture and be able to access the home when you return medium term rentals seems like the best fit. If you rent out the property long term unfurnished the tenants will be at the property for a year or more (depending on your lease term) while with medium term tenants may stay 1 month or 8 months, depending on the guest. Between stats you’d be able to access your home and check up on the rental.

Thanks Jamie! Long term is definitely the route to go BUT my wife doesn't want to leave the furniture in the house because it's very expensive...she went all out on our first home! But being in Hawaii for so long it makes sense to lease it out. Should we get a PM that sounds right but how to go about that? We want to cover the mortgage!

Post: We want to rent our home out!

Anthony Taylor
Pro Member
Posted
  • Posts 20
  • Votes 2
Quote from @Olivia Radziszewski:

Hi @Anthony Taylor, I would first identify where you would like to list the home! Furnished Finders can be a great resource for mid-term rentals as well as doing 30 day plus stays on Airbnb. Make sure the house is rent ready and clean! My recommendation would be to get professional photos taken as nice photos really do draw renters in. If you are doing a mid-term then also having the home furnished and making sure the tenant will have the things that they need to be comfortable during their stay. Good luck!

Thanks for your response! We have decided to go long term but the furniture in our home is very expensive and my wife doesn't want to leave it in the house! So we have to figure this out! But definitely a long term lease. 

Post: We want to rent our home out!

Anthony Taylor
Pro Member
Posted
  • Posts 20
  • Votes 2

My wife and I had a change of heart and now instead of midterm we wanted to do long-term rental of the home? What are your thoughts on this. Will be living in Hawaii for awhile and coming back periodically.