All Forum Posts by: Inga Fonder

@Jessica Hill you will usually have to live there for one year. You can search the forums to find more extensive info on this.

House hacking is when you live in the house, and you can get in trouble for intentionally misusing a loan based on owner occupation.

@Matt Cox From what I've come to understand, in most cases you would need two years of rental history before rent can be calculated towards your income for DTI ratios. Additionally, rental income is normally up to 75% and not for the full rent amount. In your case, it would be 75% of $2,300, and that comes to $1,725 counted towards DTI.

Hello BP! I''d appreciate any advice or suggestions for the most cost-effective solution for replacing a wooden framed window that's in a shower. I'm currently house hacking a long-term SFH, and am trying to learn what the different options are in regards to addressing the window that's in the guest bathroom. It's not a common size at 21" W x 46" H, but I wouldn't think a basic custom ordered window would be too expensive. However, I just received a quote from a local company that estimated the cost to be almost $1,600. for material and labor. This was after the worker said the window shouldn't cost more than $200-$300, which would mean almost $1300. for labor.

Is there an affordable option for a frosted, single hung window that's tempered? Or would it be less costly to remove it completely and cover up the opening?

I use a smart lock, smart thermostat, and a video doorbell in my SFH that I house hack. However, I do STR's and Airbnb, so that helps streamline everything more efficiently for my situation.

It depends on the person. Some people want their own bedroom and bathroom space, but others don't mind sharing a bathroom as long as it's regularly cleaned. I'm currently doing a house hack in a 4/2 with one as my own private bathroom. While it may narrow down the market, I've had a steady supply of renters/guests since I do STR's. I've had a mix of business professionals, travel nurses, and grad students, and most are pretty clean and respectful of shared spaces.

One of the important things is to draft a clear rental agreement or house manual for people to follow. I've had to amend mine several times and will probably keep adding things as necessary. For example: please keep the curtain liner inside the tub to avoid flooding the bathroom, and please clean up any water that overflows to prevent slips for you and other guests.

@Kevin Boyd People build their own website in order to diversify their business. All it takes is one guest to falsify a review/claim that can potentially get you shut down from a platform for an indefinite amount of time. Having a website that people can use to DB helps circumvent the sometimes unreliable platforms such as Airbnb, VRBO, Booking.com, etc. In light of Airbnb going public, there's more scrutiny and caution being implemented, even if some cases are unfounded, which leads the platforms to protect themselves. It's wise for owners/hosts to do the same.

I rent individual bedrooms and have a full mattress, desk and 4.1 cu. ft fridge in each of them, and guests still have space. I used to designate shelves for each guest in my own fridge, but I got tired of cramming all my groceries onto one shelf.

A couple I recommend are Rector Construction and Rodriguez Handymen.

I would like some advice about a current situation that I just experienced. There's currently a guest staying in a private room in my home that was booked via Airbnb. They've been here for a few days, and inquired about making arrangements to stay in my vacant unfurnished room with an air mattress. 

The person will be traveling on and off for the next 3-4 months, and wants a place to crash when in town. Since I don't know when and how long they'd be staying at the house when they're here, would it be best to set up a month to month agreement with a flat rate? That way, I get paid upfront, and don't have to lose income opportunity by blocking off dates that end up being vacant. Plus, there would be a written lease agreement as a security measure.

Would there be a better alternative to going about the situation?

I appreciate any input.