All Forum Posts by: Erik J Courson

I have a 5 bed with 2 bathrooms and it works fine. No true master, but that hasn't hurt me thus far. I do, however, often think about how I can squeeze at least a half bath into the largest bedroom.

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Originally posted by @Lisa Graesser:

I have a golf cart at each of my rental homes in a golf cart community. The cart is included with the rental cost. The cart stays in the garage so its included whether someone wants to use it or not. I manage remotely so giving the option to rent it separately is not an option. I know you are more interested in having the "cart" available if wanting to rent it separately. So this situation is not the same. I do have insurance for each cart that covers liability for the guests use of the cart. I also have a waiver that the guests have to agree to when making the reservation that is included with my rental agreement. Our carts are for use on multi modal paths, not street legal. Having a cart included is not unusual in the community my rentals are located in. Those with the cart can charge a higher nightly rate, but I haven't put in the time to really study what those without the cart charge and compare their occupancy rate. I know guests do look for homes with the cart included if they want the use if the cart, so I would say my rentals would be occupied prior to those that do not offer them. Those that do not offer the carts with their rentals are mostly concerned with the liability issues.

I manage remotely as well, but charge extra to rent my golf cart. It's cheap, one rate for duration of stay which rivals the rate for one day at the local places. Most guests rent it. I collect the fee, deposit, and have them sign an agreement digitally, which also requires upload of DL. Key is kept in separate lock box, code only shared once red tape is completed.

my golf cart does not have to be registered and titled but is allowed on neighborhood streets, so it's not treated as a street legal motor vehicle.

1 Vote

Coastal NC, North Carolina

Happened to have this week open, first vacancy since May and was glad I could be of service to a family fleeing Louisiana. Hope they're having a decent time over in Panama City Beach, all things considering.

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Originally posted by @Trish Mccoy:

I would definitely entertain it. I self manage so it kind of gives me somewhat of a break. I usually discount anywhere from 25-35 pct for multiple months. I would also make them sign a contract and even require them to have monthly cleaning.

Thanks, Trish. That discount amount seems like a good place to start, I appreciate the insights.

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Originally posted by @Alicia W.:

@Erik J Courson

I live in PCB and it is normal for "snow birds" to rent for several months during the winter/off season. They usually arrive in November and depart end of February before college spring break begins in March. Snow birds are typically great renters. They will return to the same rental year after year and refer to it as their second home. They don't damage the place and, quite the contrary, treat it as if it were their own home repairing minor things on their own because they simply can and enjoy doing things. They make friends whom they look forward to seeing each year, have socials (card night, pot luck dinners, dances, Valentine's Ball, noodle time in the pool, etc.) You would be missing out on a great opportunity if you forego it. Do you research and come up with a fair price. It is better to have some income to cover the ongoing expenses versus none.

Thank you for the insights, Alicia. I'm familiar with the snowbird concept and have heard varying degrees of how good of guests they can be or not. I've done a little research, poking around at some other listings, but it's the "come up with a fair price" bit that I'm struggling a bit with.

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Hi everyone! I recently purchased a house in Panama City Beach, FL, listed in May and have enjoyed a wonderful summer season. I've been at nearly 100% occupancy, averaging just over $450/nt.

I've received an inquiry from someone that wants to stay a couple of months sometime from Nov-Feb (they're flexible), and I'd like to at least entertain the idea of a longer term stay during the slower winter months.

Since I don't have a sloe season under my belt yet, I can only do some research and guess what my occupancy and revenue might be.

I don't think I'd be terribly disappointed if it didn't work out and am trying to figure out that sweet spot of earning more money than I otherwise might without scaring them off.

anyone else been in a similar situation? Am I crazy for even entertaining a longer-term stay?

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I have a 5bdrm in the Laguna Beach area. There are several 2-3 beds in my immediate vicinity. I see many of them have a pool, or offer a golf cart, if they're a few blocks from the beach.

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Any CPAs out there? I'm under contract on a house in the Florida Panhandle. As part of the deal, we, the buyers, are making a charitable contribution to the the 503c of the seller's choice.

Would this contribution have to go into the expenses related to the purchase of the house, thus depreciated over 27.5 years, or would this be treated as a standard, deductible contribution, same as any other?

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Depending on your lender and your current amount of equity, you may be able to opt out of escrow altogether. I did this with my primary residence several years ago after a similar experience as yours:

https://www.everydaybenjamins.com/2018/03/06/diy-mortgage-escrow-account/

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All Forum Posts by: Erik J Courson

Erik J Courson has started 2 posts and replied 9 times.

Post: How many bathrooms are needed in an short-term rental/STR/AirBnb?

Post: STR-Anyone also renting golf carts or EVs?

Post: Do you have any Hurricane Ida evacuees?

Post: Determine monthly rate for str

Post: Determine monthly rate for str

Post: Determine monthly rate for str

Post: Panama City Beach Home Rental Income

Post: Charitable contribution as part of real estate contract

Post: Escrow gone way up and not sure what to do