All Forum Posts by: Dan Perrott

I take photos (not video) before the tenants move in and after they move out.  I also have inspection sheets on move-in and upon move-out.  I use photos and the inspection sheets together for the determination of how much of the security deposit they get back.  When they move out I send them the photos proving the damages that I subtracted from the security deposit.  Additionally, I have the tenants sign a sheet as a addendum to the lease that lays out all of the common costs for damages.   A clear definition of "normal wear and tear" against damages is also given. 

The photos, inspection sheets, common cost sheets and definition of wear and tear have prevented any arguments.  It has also clearly made my case in court every time.  Video would work but it is much easier to print and use in court.  BTW - Our lawyer loves our processes as it makes every case easy to uphold.

@John Kesner -  here is the clause from my lease.  I am not giving legal advise but I am supplying this so that you can understand how I handle your question...

Appliances - The appliances have been supplied in complete working order.  Appliances included are a refrigerator, electric stove, above stove microwave, and dish washer.  The use of these appliances is not included in the rent.  If Tenants wish to use these appliances, they agree to assume all responsibility for care and maintenance.  Tenants agree to return the appliances in the condition supplied less any normal and reasonable use.  If Tenants wish to use their own appliances, they may request that the owners’ appliance(s) be removed from the premises.  Initials verify that the Tenants understand this paragraph.

I have never had a tenant request the removal of my appliances...

@Michael Thompson - we raise and lower depending on what is going on in Indy.  That is not an uncommon practice in Airbnb. 

Everyone that is considering an Airbnb needs to try them out.  It is the best way to learn.  Next time you are traveling, try out an Airbnb rental.  You will learn more about the business model by using the business model.  It enables you to learn how the town or city you are visiting is actually like.

@Shawn Holsapple - I have a cleaning person to do the turns.  She cleans and does the laundry required (sheets, towels, etc).  I take care of the maintenance and lawn.

@Account Closed - our location is in Broad Ripple in a higher end home.  We have had tenants that were relocating to Indy, medical students coming to Indy for training, and short-term vacationing visitors.  We also do provide long term Airbnb for greater than a month.  We accept pets which is the huge draw (pet deposit  and charges are extra).  Sporting events and conventions seem to create a higher demand.   We also charge cleaning fees on top of the daily rate.  All of this is normal in the Airbnb world of charges.  Our Airbnb tenants have no problem paying 150-200 per night.

@Shawn Holsapple I currently have an Airbnb SFH in Indianapolis and we are currently booked solid thru September. It is a great city for bookings. We make over double of what we would make as an unfurnished rental. You need to have a prime location in an area of the city that people want to visit. It does have other considerations like cleaning, lawn care, and quick response maintenance.

Airbnb ratings are what will drive your success.  You need have good ratings to keep your house booked.  It's all about the ratings.

@LaTasha Williams Welcome to BP!  you have found the right place to learn.  Good luck and happy investing. 

@Malachi Dodge

Welcome to BP.  You may want to go to network with others in Indianapolis.  INREIA meets the second Tuesday of every month.  You can find more info at myinreia.com.

Happy investing - jump in and get started!

@Andrew Clark

Welcome Andrew to Bigger pockets!  You found the right place to learn.  Don't be afraid to ask questions. 

I am originally from Lansing IL.  I have family that lives in your area.  There are lots of opportunity in your area to start your RE business.  Try to get involved with local groups and find a mentor.  It will help you to learn the area and find a niche to concentrate on.

Welcome to BP David.  This is a great place to network and learn 

I met you at the INREIA meeting last week.  Keep the momentum!

@Christian Moore - Welcome to BP!  You may want to come to an INREIA meeting on the second Tuesday of each month to network with like-minded investors.  You can find out more information at myinreia.com.

Happy investing!