All Forum Posts by: Marcus R.

I think a larger property would be best so that will probably be a house. Smaller properties tend to compete with hotels since they sleep around the same amount of guests.

$300 refundable pet deposit

$29 monthly pet rent (can have up to 2)

It's been a while since I've researched but most apartments are between $300-$500 deposit and $25-$50 monthly.

@Noah Bacon - Specifically to CO I think a new bill was proposed that would eliminate the ability to charge pet rent and deposits but setup a statewide fee of $1K for damages if needed.  Please doublecheck this, I only read one article and didn't do much research. 

Will do!  It will probably be another year or two before an update (we're enjoying the low mortgage payment).  I was raising this question early because if we go through the expense of a mini split I at least want to enjoy the benefits so the cost easier to justify.

I'd recommend at least one mini split in the furthest or hottest room.  For us it was the primary bedroom.  Made a huge difference because we can now keep that door closed so the swamp cooler air can focus on the rest of the house.  The problem is I think its probably more economical to install mujtliple units at once then have them put in individually.

@Brittany Guimond what class duplex is this?  Our townhome is B class (Five Points) and most properties have central heat/air so we're behind in that category.  It also makes it tougher to go with the window unit option. 

Fair enough.  Makes sense John.  This thing keeps on humming along and the parts are fairly cheap/easy to replace so not a bad idea to continue to ride it out. 

Agreed, thanks Nathan. If it's still working, I'll be sure to go slow at move-in and make sure people know how it works.  It's mainly the new Denver-rites who may be unfamiliar since it's specific to certain regions.

Yeah, I think you may be right Melissa.  We love our split unit in the bedroom and are considering getting another.  It is a problem that the swamp cooler can only get it down to 70 (if lucky) on really hot days.

Hi All,

Question: Any experience with roof mounted down draft swamp coolers in a long term rental? Is it a hassle? Do tenants operate them properly? Currently have a swamp cooler on a 1150 sqft middle 2bd/2ba townhome. Since it's a middle unit windows are only in the front and back of the house and there's 3 skylights throughout the property. 

My thoughts: I run hot so I'm a hardcore A/C fan and have a ductless unit in the bedroom.  Not in love with the swamp cooler but I've come to at least accept it.  Gets the job done on our primary but not sure it's the best fit on a rental once we move out.  My fear is user error for those unfamiliar with how it works and it's a bit of a manual process to turn the water on/off responsibly.  For future tenants, I'll pay the water bill and then it will be billed back tenants. The swamp cooler also requires at least 2 roof visits each year (start-up/winterize). I don't mind these since we live here but not sure I'd be up for this work after we move out.

Options:

- Do nothing and self-service 2x each year.  Could do interior inspection at the same time as well.

- Hire out summer/winter maintenance or a portion of.

- Install new ductless on the roof or front of the house ($8K-$10K).

- Mobile window unit but it would have to be pretty powerful and cool ~833 Sq Ft. ($700)

- Looked into central heat/air but the cost isn't justifiable since ductwork is needed

- Something else?

Thanks in advance for the thoughts and feedback.  Always appreciate the help from this community. 

Good call outs, that makes sense.  It's a different story if weed is illegal and/or purchased on the black market.

My main point is that typically alcohol gets a pass but legal weed doesn't.  It would be hard to argue that alcohol is a more responsible vice over weed.  One has medicinal uses and the other has little known medicinal uses other than sterilization (please educate me if this is incorrect).  However, since it's the property owner's choice they should dictate the rules and guests should abide by those rules.  But if you can encourage and monitor legal and responsible 4/20 friendliness I do think it gives you a massive advantage on the competition. 

Excellent points and well said @Shiela R.! 

To the OP's original question...I don't have any STRs but in my LTRs I do advertise them as 4/20 friendly.  There are many responsible consumers and consumers for medicinal purposes that I'd love to have in my rentals.  In my experience, if other housing providers limit consumption then tenants take better care of the 4/20 friendly place since they value the space more and don't want to trash it and make it inhabitable.  In most cases, I believe 4/20 friendly is an extreme value add for our properties since others may not allow it.

For those who aren't 4/20 friendly, do you allow alcohol consumption in your STR or LTR? If yes, then why?

Option 2.  Great points above.  

Another angle to think about is who says it needs to take 40-45 hrs every week? If you can produce the same output in 35 hrs a week you have additional time back to pursue REI. In addition, it would likely help your mortgage qualification if you have a longer history there and if it's a large company.

One thing to keep in mind with excessive travel is that it has a cost. Poor nutrition, inconsistent sleep schedule, less time for local relationships, lack of fitness routine, etc...Usually none of these carry an immediate direct cost but give it time and they'll all eventually have a negative impact to your bottom line and some of the damages can never be recovered.