All Forum Posts by: Chris Troutman

Thanks, @Andrew Simms. I'm trying to use Georgia Spa Company but can't even seem to get pricing details from them. I may have to go into the physical store at this point.

I am trying to get a hot tub installed at STR near Blue Ridge and am looking for some advice on purchase and install. I am having a really difficult time finding anyone to actually give me a solid quote or direction for purchase of the hot tub itself. Where have others in the area purchased their hot tub and what made you chose the one you installed?

Anyone have experience with Costco hot tubs? Pricing is good, but am worried that they will just leave the tub at the the end of the driveway.

Any other tips/recommendations for selecting, purchasing, and installing the hot tub?

Thanks @Jason Bott, I only have experience with commercial polices, hence my confusion. Appreciate the input. 

The Lease requires Tenant to carry a renter’s insurance policy covering Tenant’s household goods, personal property and personal affects in an amount not less than $10,000.00 and liability insurance coverage in an amount of at least $250,000.00 naming Landlord as an Additional Insured.

Tenant provided a certificate showing me as an Additional Interested Party, but not as an Additional Insured. My understanding is that this only means that I get copied on any notices with respect to the policy.

I asked Tenant to have their insurance company (Allstate) add me as an Additional Insured, and Tenant responded that Allstate told them that "they are unable to add [me] as an Additional Insured legally because [I] am the owner of the property and not a renter."

Maybe this makes sense with regards to the property insurance (since I have my own coverage), but not with respect to the liability insurance - right? 

What do I need to request of the insurance company to confirm that I am covered for any liability arising from tenant's use of the property?

I entered into a one year lease with 4 tenants (jointly & severally, and collectively referred to as "Tenant"). The Lease requires Tenant to carry a renter’s insurance policy covering Tenant’s household goods, personal property and personal affects in an amount not less than $10,000.00 and liability insurance coverage in an amount of at least $250,000.00 naming Landlord as an Additional Insured. Should I require that each of the 4 tenants obtain such a policy, or would one single policy cover any claims arising from "Tenant's" acts? 

I'm mainly concerned about liability. If Tenant #1 carries the policy, and a guest of Tenant #3 hurts themselves on the property, would the policy apply? 

I am about to rent out my SFH as an LTR, and am including most of the existing furnishings in the rental. Rent is only paid as a monthly amount (no separate payment for furnishings).

A few questions:

Am I able to expense or depreciate any of the existing furniture? 

Any time constraints on age of furniture (most of it was acquired >2 years ago)?

If there is furniture for which I have no receipts, is there any other way to capture any tax benefits or reduce income from rental?

Thanks!

Thanks @Mohammed Rahman, I am on FB as well, and probably listed on there later than I should have. I have gotten some good leads from FB, but its also frustrating to continually respond to "Is this still available" and then get no further response.

Just letting others know my experience. I have my LTR SFH listed on the Zillow network, for $29.99, and also paid the $99 to list through Redfin, which is Rent.com. I've had at least 30 inquiries/messages from Zillow in the few weeks I've had listed, compared to 5 total views on Rent.com and 1 inquiry. I will save my ad money in the future and not list on Rent.com, at least for this asset type in this market.

@Michael Baum I don't have any interest in managing my current primary as a STR, but if the "corporate housing" folks can make me some money, then I'd go that route. I will have to get used to it though as I think my next investment will be a vacation home.

Thanks @Michael Baum for taking the time to answer. It's a nice house, but certainly not luxury and not in any kind of special area. Seems like I get this kind of inquiry every couple days, and its tempting since I've not yet found the right tenant, but the thought of hundreds of people moving through my house stresses me out. I probably need to emotionally detach from the house though, since I will likely sell in 3 years.