All Forum Posts by: Bian Dahab

Hi all, I am curious if this has ever been an issue for short-term rental hosts and how you have mitigated the issue. 

I got an Airbnb guest who reserved 28 nights under a strict cancellation policy. The booking was confirmed in mid-November, she checked in on December 2nd, I received the payout notification on December 4th. 

On December 5th, Airbnb notified me about a problem collecting payment at 4:26pm. At 4:35pm, she asks if she can cancel the reservation. She canceled the reservation at 9:22pm. Airbnb writes that "If your guest doesn't successfully submit payment or if they cancel the reservation before making the payment, Airbnb isn't liable for issuing your host payout." 

This is already the fourth night of the stay, how is this possible? This would have never happened if I had medium-term or long-term tenant where I make sure to collect the rent before letting them in the property, along with security deposit. 

Anyone who can share the experience and ideas to mitigate it?

For avoidance of doubt, I spoke to her and she claimed a technical issue with the payment and she wants to move out early to move closer to another university she was accepted to today in NJ. I am fine with her moving out early. I am just uncomfortable about the fact that there is a possibility that I could have no payout for an Airbnb reservation that has already started. 

Hi all, 

We have completed my first house-hacking in 2023 (Shout out to Craig and the Househacking Bootcamp team!)
I closed in July, got a tenant, and am confident about renting out the rest when I move out.

Now I am looking to get ready for my second house-hack in 2024. With the lower down payment requirement, I want to buy a small multifamily and occupy one unit. 

- Timing: When would be the earliest I can move out and buy the next one? My current mortgage was a 5% down conventional loan. 6M or 1Y or earlier? 

- Loan: What income can I use in DTI to qualify for the loan: our W-2 income, rents from the 1st house hack, potential rents from the 2nd house hack?

- Legal: Do people ever structure their house hack in an LLC? Is it even possible to get an owner-occupant loan in an LLC?

- Tax: I am looking for an investor-friendly tax preparer and planner in NJ who will take a small client like me. Recommendations will be appreciated!

Thank you, 

Bian 

Thanks for sharing this, Brent! It is very helpful to know the market and the work environment is changing for them quickly. 

I also found the furnished finder’s e-book that explained the concept of Tax Home. That explains why the housing requests I am seeing are far below the GSA guideline. 

Fortunately, I am at a location with a wide range of demand for short-term and medium-term rental, other than travel nurses. I ended up filling the room with someone in another industry who had no issue showing an income verification letter and providing a prior landlord reference. 
 
@Shannon Strickland ‘s comment made me sure about not house-hacking with someone who is uncooperative. Thanks all! 

@Eric Boughner That must be why the applicant was very defensive. 

Given that the applicant has been haggling on everything (the room price, the utilities, the parking space, ...and the application fee...) without providing income verification, I declined the application. Either the applicant must be stretching the budget or have a strong scarcity mindset, neither of which is a good sign. 

Afterward, the applicant followed up with the first page of the full offer letter with hourly rates and also offered to provide a verification from the HR. I declined again as I don't want to work with someone who only responds to an ultimatum. 

Hi, I have a prospective tenant who is a travel nurse on a 13 week assignment. The background check, credit check and eviction history came out fine.

But the candidate is refusing to provide a verification of income. Only the top half of the assignment letter(that doesn’t show the income and the living stipend), no previous paystubs, no previous tax return, no W2, no 1099. We have been back and forth about this and the rationale has been diverse: 

- Does not feel comfortable providing the info without knowing about us personally 

- Offer letter does not guarantee a future income because travel nurse is an at will employee 

- Tax return does not indicate her affordability 

I Would appreciate any advice for us to push back for the right level of information! 

Thanks everyone! 

Yes, the floor has multiple spots that has been caulked and I have seen many spots that showed up over the last 3 months. We are gonna get regular pest control for peace of mind and another termite inspection from a local operator, better to be safe than sorry. 

Thanks Ned!