All Forum Posts by: Joe Steinheiser

Does anyone have recommendations for 'vacant property' insurance and builders risk insurance? My State Farm agent does not provide either. I used Steadily last time and was not super happy with them. 

Thanks, Joe

Thanks Alan and Stuart. I was thinking ​some type of homeowners policy, I didn't think about builders risk.

What type of insurance do you use for a flip? I'm may keep it for a rental but I still need to totally renovate it for 2-3 months, so it will be vacant. My regular agent won't insure it for renovations or being vacant for that long.

The only group I know of is DIG. But if you start a group I'd be interested

I'd let him out with his deposit back as long as he moved out by the end of the month. Keep the first and last months for the month he stayed and the month you had to pay management. I would market that property NOW.

Ok, I'm still a little unclear. If I own a home is is saying that I cannot short term rent it for more than 90 days or 180 days (with the other restriction of no more than 30 to one party)? And I have to live there for at least 6 months? Lastly it mentions a subsection (c) but it ends with (b), am I missing something?

Does this effectively rule out short term rental as a business except for hotels? I can't see anyone buying a place or rent arbitrage for only 90 to 180 days of STR.

@Steve Babiak

Thanks Steve, more great information!

It seems like first month's rent and 2 month's security is better than first, last and 1 month security. Any opinion on that?

@Conor Brennan

Thanks, I didn't know about holding it in escrow.

How much can I ask for in a security deposit legally in PA? Can I ask for first and last month's rent on top of that?