All Forum Posts by: Beth L.

Yeah, @James Lusk, sorry I couldn't be more helpful. I am sure that someone else experienced will jump in with some input.

Is it buried then @James Lusk? And that is your concern? Around here in MD, most oil tanks reside in the basement, pretty rare to be buried, but then certain measures are required if you are not using it any longer.

We do quarterly maintenance and give plenty of advance notice. Replace the air filter, check the sinks and toilets for leaks, and just do a quick glance around. Only takes about 5 minutes. Usually no one is at home so we don't ask any questions. We ask them ahead of time what is a good time for them and if they would like to be there or not, also if they have noticed anything that needs our attention. We've never had any push back from tenants and I think quarterly gives us a good pulse on the unit.

@Charles Johnson I set it up online, then it automatically linked with something on my android phone, if I'm not mistaken.

@Charles Johnson I also use a Google voice number. When I am advertising a unit, I use that number in my listing and set it to Do Not Disturb so that it always goes to VM, then it emails me a transcript.

@James Petry I prefer duplexes and at this point I don't have any SFR in my portfolio. I agree with @Andrew Portnoy and I think that from a renter's point of view, they prefer a duplex over an apartment, due to more privacy, yard, etc., but also the conveniences of apartment living (we offer lawn care, snow removal, etc., things that would typically be expected of a tenant of a SFR, but are difficult to split up at a duplex). Also, the rent is usually less than a SFR but the same or a little more than an apartment.

One of our duplexes has a firewall and separate utilities, so although both units are currently deeded together, we have the option of separating them and selling them off individually in the future if we wanted to. So with that option, we have more possibilities to resell to a wider buyer base.

Duplexes (both units) are harder to find but in my option they are worth it.

@Andrew Taylor those would all be repairs and maintenance. Any expense like that, (excluding large repairs like a kitchen remodel and new roof which are cap ex), should be budgeted out of R & M. 

@Al Williamson in addition to the Homeaway platform of sites, I have a Facebook page for the villa, and the property manager sometimes sends leads my way or can place a booking for us. At this point, I always get the peak seasons and some of the non-peak nights rented, so I don't think that paying more to advertise on other platforms will help any. And I try my best to keep the expenses down.

By keeping it a short term rental, we have the opportunity to stay there for 10 days or 10% of rented nights personally per year. We would lose that if we convert to a long term rental, plus it is already fully outfitted with furnishings and appliances. I think that it is the smartest to keep it short term.

@Al Williamson I have my vacation rental on the Homeaway platform of sites, both US and international.

We have a 5-night minimum. It is common for 4-bedroom pool homes in the Disney area. This is also a requirement from the property manager.  

@Al Williamson good things to consider in your article. I like to look at all options. Corporate housing is definitely something that would work only in larger cities, as the demand would be there. Not in my area for sure. If you can keep it rented most of the time, I wonder how the cost of completely furnishing a place with everything including kitchen appliances and accessories, and the carry costs of utilities, compares to the rent coming in. I have a short term rental in FL and it always just breaks even or is in the negative. I do much better with my long term rentals here locally. But certainly a great thing for some to think about.