All Forum Posts by: Justin Brin

Same here.  Having a hard time finding a company.  These NonAdmitted companies seem sketchy.  

 Hav you tried Obie or Elmsure?

You can go through insurance brokers to see what's out there. For example my broker hooked me up with Safeco. 

If you are in a high fire zone, the California Fair Plan is likely your best bet.

@Justin Brin who are you referring to as an “arbiter”? An arbiter settles differences. An arbitrager takes advantage of two different prices.

In our experience a LTR tenant is MUCH harder on a property then any STR guest. Dealing with damages on a former LTR as we type! The nonsense on rental arbitrage is just that, nonsense. The risk of rental arbitrage and all the reasons I regularly hear on this forum why a landlord shouldn't allow them; are the exact reasons we kicked a tenant out and why many other landlords kick tenants out.

The Enemy Method for Estimating Airbnb IncomeTo apply the Enemy Method, an investor needs to find a dozen similar short-term rentals, analyze their daily rates, estimate the occupancy rate, and calculate the Airbnb income

I would allow my rentals to be rented out by short term rental arbiter - but only if they had some money behind them.  And I would require the contract to state the the furnishings would all belong to me if they ended up being short on rent and I had to go after them.

To me, many of the people that do this tend to do it because they don't have the money to buy the units themselves.  And thats a red flag.  They might easily have some issues with a slow period and then where do they get the money to pay the actual rent to you.

the one question I have is if you could write the contract in such a way that an eviction would not be required.  If you set them up as a "property manager" who was required to produce X amount of income to you (i.e. your rent amount) and then they'd get the rest.  And that they'd be required to furnish the home and they'd be responsible for all repairs as well.

Then technically they would not be a renter so you wouldn't have to evict them and then you might be ok. To me thats the risk. If you "rent" to them and let them STR the home, then if they don't pay, I think you'd have to evict them.

Again, I think if you were to bring them on as property manager with no renter rights and require them to furnish the home and manage it and guarantee you your rent amount and allow them to keep everything else, you can at least mitigate your risks.

 Well they are likely going to tie up the property with a lease, contract or both.  It is true they supply the furniture, but ask yourself who would be willing to do all that without a guarantee of income.  Obviously there is no guarantee but if someone with a high level of success and experience was willing to do all that, it is likely a go.

Yes it is true there is seasonality in hospitality but with proper budgeting you will be fine.

For estimates I personally use AirDNA (Paid version) and then double check it using enemy method.