All Forum Posts by: Kim Meredith Hampton

Great job Jacob! How much is your insurance? This sometimes can kill the deal if you are in a flood zone. Does it have a second strategy if you wanted to make it short term?

 There are a few that were free online that seem pretty decent. Its one thing to give the tenant the form to fill out, most dont do it or turn it in months later. Its always good to do your own move in evaluation with photos or video and upload to the tenant file. Cant tell you how many times that has saved us form an argument or at court!

https://www.zillowstatic.com/bedrock/app/uploads/sites/42/20...

https://s3.lightboxcdn.com/vendors/2f364418-7ee6-4cc6-9d34-6...

Here are the states that "require" move in checklists https://eforms.com/rental/move-in-move-out-inspection-checkl...

I don’t think the margins are there to make this a win! Move on and cancel this week before due diligence ends.

Allison,

I actually buy almost all of my furniture for my padsplits and Airbnb on Amazon and Facebook marketplace. I also like leather for the wear and tear being able to wipe them down. The other thing to keep in mind, keep it simple and buying things you don’t mind getting ruined and are easy to replace.

Sierra

I would set up another bank account in which you pay invoices for pool, lawn, taxes for hotel/motel occupancy, licenses, your management fee and owner proceeds. I have a separate company, Tax ID and account set up for my short term rental company. I too am a licensed Broker, but this entity has nothing to do with my brokerage. If you really want to grow your STR, getting it set up correctly is key

Jeremy

Why in the world would you put in carpet? Install LVP flooring. The stats state that about 78% of people now have pets, and that number is likely increasing due to covid and more people working from home. 
We definitely accept pets, increase your pet deposit or fee, screen people through Petscreening and tighten your pet policy, like no puppies etc…

Gillis

Is this in an HOA or condo association?

Robert

A great affordable alternative for virtual staging is BoxBrownie. You just send the photos to them online, choose a style and they do the rest!

Always good to get a professional to take the photos unless you are good with a camera

Mary

Do you have an application where they state whom to call in the event of an emergency? Please do not let anyone in or take anything out until you know who is the next of kin. These things can get very sticky