All Forum Posts by: Leslie Anne Morris

Your strategy will really depend on what you’re close to. So consider your location wisely. Where I invest it’s all vacation rentals, I’d have to invest 45 minutes away in Knoxville to capture some of the other types of rentals you’ve mentioned and it wouldn’t fit my investing model. Although I will say that I’ve gotten insurance claims / MTR renters in Townsend before. 

😳 makes me want to buy a TV just to buy a TV you know?! 

What’s your lease like? Raise the rent for the next 5 months. I’ve stayed in a medium term rental before and the owners told me the rent will be higher on months 2 and 3 to offset the higher usage costs. 

Yes this happens from time to time. I’ve had much much worse honestly! I’ll save you the details. But you honestly can’t make everyone happy and some guests are even looking for Airbnb to force a refund. They’ve probably heard of a friend or relative having success this way. Without an integrated property management system you can’t automate communication, but with the cabins I manage we send auto communications before check in to let them know to contact us if anything arises etc. That would be one idea to try. If your booking volume is low you could simply type some sort of message like that to the guest prior to their check in. 

I agree depends on the lender and obviously the loan type. Some DSCR lenders do report to credit even if you've only given a limited guarantee. I would assume as long as your property cash flows then the DTI issue is not an issue.

Ownerrez

RemoteLock

Beyond

Slack 

Let me know what you need. I know cohost and managers near there. 

We separate out taxes and cleaning fees. They may not have that capability with their PMS software. I’d inquire, but plan to switch. 

If the current owner can notify travelers of new ownership and provide your booking link that’s best. So create the listing but block all the dates, you can’t go live if you don’t own it yet. It’s a tricky transition period.