All Forum Posts by: Justin Brin

My STR is covered by a commercial hotel/motel policy from State Farm. It's a SFH and I don't rent it by the room, but I bet State Farm wouldn't have a problem with it on this type of policy.

I ended up with this policy after searching almost 6 months for someone who would cover an STR in a high wildfire risk area.

Don't let your State Farm agent push you into a homeowners policy with STR rider. Tell them it's an investment property with no owner use and you want a commercial policy with $1M/$2M liability coverage. If they give you pushback, call a different agent. Some State Farm agents might not know that they do commercial hotel/motel policies for SFH STRs but their underwriters definitely do.

As much as I'm aware State Farm stopped doing business in California epically new policies.

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Quote from @Michael Baum:

Hey @Justin Brin, check - https://safely.com/

They might have what you are looking for.

It looks like it only covers on demand requests and you need to connect to a real estate management software?

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Quote from @Collin Hays:

That is going to be a question for your insurance agent. (S)he should have access to a number of insurers and policy types.

I checked with Proper and Steadily and both do not allow more than one booking in a house at the same time.

I'm wondering if there are any other insurances that do allow it?

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What insurance company do you know covers short term rental by the room for a single family house?

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Quote from @Theresa Harris:

It isn't just a matter of how many people live there-what is the housing supply like in the area, how many people are living in each home? Plus the cost of most things goes up over time.

I guess if the house shortage is bigger than the percentage of people leaving prices will still go up.

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Los Angeles County, California

Quote from @Mike Dymski:

The government grossly overstimulated the economy, increased the money supply by 40%, and caused record inflation (in housing, food, energy, everything).

I'm not sure if that's the main reason. In San Francisco county for example population decreased 7.4% and house prices decreased 6% so a decline in population should impact house prices?!

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Los Angeles County, California

According to the US census data Los Angeles, CA county population declined 3.5% in the last few years as you can see here:

(Data from April 2020 - July 2023).

But Real Estate prices went up in that period 25% according to Zillow (From $665,868 to $834,772).

Rents went up 18% (From $2,380 to $2,827).

How that can be?

If more people are leaving then coming in, prices should go down?

Unless there is a big increase in undocumented immigrants and then there is really an undocumented population increase and that's why prices are going up?

Can there be any other reason?

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Los Angeles County, California

What do you do if your tenant is 2-3 days late on the rent?

What do you do if he is one week late?

Do you always charge late fees or for a good tenant you will not charge?

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Quote from @Jake Andronico:

@Justin Brin

We've been scraping rental comps from Zillow for the last 18 months. We have it mapped out across Northern Nevada and use it to analyze every active property simultaneously.

Besides scraping, I don't know how one is able to look at the historical data.

I'm wondering if there is any service that already has that data stored?

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I see that HUD has historical data per zip code here (40th percentile of the rent prices in the area used for section 8):

https://www.huduser.gov/portal/datasets/fmr/smallarea/index....

I'm not sure how accurate is their data in some of the zip codes.

Here data data is broken down by bedroom count so you can get and idea if it's a house or an apartment depending on the area and room count.

Zillow data is limited depending on the zip code. For some zip codes there is not much data.

They also mix in apartments data with houses data.

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All Forum Posts by: Justin Brin

Justin Brin has started 27 posts and replied 155 times.

Post: What insurance covers short term rental by the room for a single family house?

Post: What insurance covers short term rental by the room for a single family house?

Post: What insurance covers short term rental by the room for a single family house?

Post: What insurance covers short term rental by the room for a single family house?

Post: Population declining but prices are going up. How is that possible?

Post: Population declining but prices are going up. How is that possible?

Post: Population declining but prices are going up. How is that possible?

Post: How you manage late rent?

Post: How to find historical rent prices for a specific area?

Post: How to find historical rent prices for a specific area?