All Forum Posts by: Calena Reynolds

Thank you for the feedback!

Hello!

I am exploring a property management company for a LTR wherein the contract states if a tenant wants to purchase our house, the company would automatically become the selling agent and charge a 6% fee.

Is this normal/standard or a red flag?

Thank you!

Hello BP!

I am narrowing my STR market to the Tampa, FL area and curious to hear recommendations for property management companies or contractors.

Peripheral advice also welcome.

Thank you!

Gotcha, props for remembering and creating consistency each time! Will do, great tips.

Thanks @Joel W.

Funny enough, I used to live in Portland OR a few years back. Wish I had invested at that time!

Glad to hear your str set up has been successful and agree to check those policies with the city first. I have a feeling it will be favorable since TN tends to be generally more flexible about what you do with your own property.

Nope, we already have heating/cooling in that space!

I like that idea of encouraging volume up front and building credibility through positive reviews first before increasing price. Would you be willing to share your cleaning checklist with me as a point of reference?

Appreciate all the replies!

@Bruce Woodruff

@Bruce Woodruff 1) Both water & sewer! In the laundry room we have an in-ground sewer line (connects to public sewer) & a working sink. 2) Yes! I am tracking about $85-95/night rate for a similar space from looking through comparable properties on AirBnB.

Hello BP!

I live in Johnson City, TN and am new to real estate investing. I'm considering converting my basement into a short-term rental as a house-hack and curious to hear perspectives on this endeavor and if you have any contractor recommendations.

Here's some background info:

- I live behind a major university

- AirDNA has favorable occupancy in this area (~79%)

- Basement is a walk-out with it's own entrance and already has an in-ground water hook-up

Thanks in advance for your help!

Thanks so much for the insight and for setting me straight. Guess I know which BP book is next on my reading list!

Hello BP!

I am researching property management fees and just spoke with an agent who claimed property fees in the Smokey Mountain TN area (typically STR's) were typically 20-30% of rental income. This seemed wild compared to the standard 10% fee. Does their assessment hold water?

Thanks in advance for your feedback!