All Forum Posts by: Liam Martin Ruane

Awesome help. Definitely worth getting the garage door repair man to check it out. But is this something I just deduct at the end of the lease from their deposit, or should I tell her it will be deducted now?

So I have a quick question that may be obvious. I have a tenant that has broken the garage automatic door presumably from backing into it, but she is claiming that it is because of rust and has requested that I fix it. I will of course fix the door, but I'm thinking this should be deducted from the security deposit.

Is this something that I communicate with the itemized deductions at move out, or should I communicate it now? 

Hi all, 

Hope this finds you all well.

Just wanting to get some opinions on Capex in condos vs STR. I'm looking at a bunch of condos in Melbourne, Australia and they typically have HOA which is in charge of roof capex and any general building capex outside of anything the is directly located in my prospective unit. I'm also looking right in the centre of the city where the units are quite small so there is less area that could potentially require capex.

Another nuance is that in Australia, washing machine, dryer and fridge are something that the tenant handles, so nothing would go towards this for capex.

I know it's good to be conservative but for these reasons, I'm thinking that my capex allowance could potentially be decreased from 10% to perhaps 5%.

Would be very interested in what people think about this as I am hesitant in lowering my allowance for capex.

Cheers,

Liam

@Greg Scott

Hi @Greg Scott, cheers for the reply. 


In regards to race, I guess I should have expanded a little more on the motivation for the regression. In Houston, a lot of low income typically black or hispanic areas have seen very high property price appreciation recently. From the picture I added, most of the areas with high appreciation are characterised by this, and I wanted to see if this relationship is statistically significant in Houston, and then on a broader scale in other cities. 

Definitely some interesting suggestions for potential additional X variables, but where I am really stuck is where I could go to get this data. I know it definitely exists but I'm struggling to find out where. :/

So I am doing a thesis on what factors may affect property appreciation. In Houston specifically, less developed low income areas have recently experienced high house price appreciation, and I wanted to run a regression that analyzes the relationship between such factors. 

The factors could be as follows:

X1: Zipcode Median income

X2: Zipcode predominant race @ time 0 (dummy variable)

X3: In 100 year flood (Dummy variable)

Xn: Still considering factors

Y variable would be something like % price change over a certain time frame (maybe 15 years).

I'm hoping someone has some suggestions as to where we could get our data from, as I know the data exists, but just trying to find an efficient way to get it is proving challenging. 

Any suggestions would be much appreciated. :)

Hmmmm thank you all for your input. A variety viewpoints which is interesting and conflicting at the same time. I have also done Airbnb together with my girlfriends property when she moved in with me for about 6 months and I never had any issues. We also didn't do remote check in and handed them the keys and met guests personally so I have a theory that guests behaved due to actually attaching a name and face to the property they are staying in. 

I plan on leaving the country in a month or so for about 9 months, so I couldn't do AirBnb myself, but I have looked into a property manager.

How would you compare a full service STR property manager with just leasing it to and experienced AirBnb sub leaser?

So I am in the process of finding a tenant for my first rental (a townhome in Houston with no HOA). Many of the inquiries that we get are from people looking to lease and then re-list on airbnb or VRBO etc. I have listed properties on Airbnb before and have found that people generally take care of the place and maintenance expenses are usually minimal as most people just want a place to shower and sleep when they are in town.

My question is, what should I be wary of with this type of arrangement? My thinking is that if I am receiving rent at a fair rate, it shouldn't matter really. Should I request anything specific in this situation?

Appreciate the help :)

Hi all,

New investor here! Just in the process of listing our first rental online for the first time. The current situation is we live in one of the rooms and we are renting the other two on a short term basis. They will be occupied for about another month and we have just listed the unit. Seeing as though this is occupied for another month, how soon should we start lowering the monthly price?

Over the past few days, we have had a couple of inquiries, but nothing concrete. Any suggestions on this would be much appreciated.

Thank you all very much for the insight. Much appreciated as I was searching for a while for info.

Cheers,

Liam