All Forum Posts by: Mel Kirchhoff

 I get that! I guess that's part of my question, if you could have the security deposit cover that and people's experiences so I could better prepare myself.

 I assumed some would need replaced, which would be okay, but I would hate to see it all trashed.

I guess in that vein though, I hear that a lot about LTRs -- the horror stories -- and we have been blessed with amazing tenants (generally) so I was thinking it would be along the same line where it would be something where you would want to charge high-end and screen intensely to try to get a tenant that just is transitioning and can benefit from the furnishings.

I know that could still happen though, even with all the precautions you can take, so it's something good to consider! 

I guess I can keep it as a STR and push my way through, it would just be nice if it was something that worked for someone right now and helped me take a step back for a bit, and go back to STR when I have more ability to keep up with it! Thank you!

If I try to pursue the furnished LTR I will definitely keep this in mind that it's possible I'll be starting over again! Yikes!

I have. It just didn't seem like the best idea since selling it, we would probably only get pennies on the dollar. It was only purchased about a year ago and is in really good condition and fits the space really well. So I was hoping someone else could benefit from having the big pieces like couches and beds, nice TVs, etc. 

And since I would like to go back to it being a STR when some of my life calms down in a year or 2, it doesn't make tons of sense to get rid of it all and then start again!

Thank you for the response!

Okay, that makes sense, thank you!

Thanks for the reply!

I am not looking to do it as a MTR, and I am looking more to make it a true furnished LTR (1-year lease).

Maybe that's not really a thing though? 
I have no idea, I am struggling to find the info!

I was just hoping to transition it into LTR and since we have newer furniture that fits the space well, it just seemed a shame to sell it all to do an unfurnished LTR, but again, I'm having a hard time understanding how logistically some of the details are worked out with that with furniture involved in an LTR.

Thank you again for the support!

Hi BPers!

I have an STR we've run for about a year. While it's positive after expenses and has potential for improvement in year two, it's been a bigger hassle than anticipated and taking attention from other priorities and areas of our life with not enough return. We also have a second STR that runs smoothly, so this one feels like more effort than it's worth right now.

I don't want to sell since it's a great property in a good area and fits well in our long-term portfolio. I'm exploring the idea of turning it into a furnished long-term rental to hold onto it, generate income, and possibly return to STR when things settle down.

However, I’m new to the furnished LTR space and would love advice! Some specific questions I have:

• • Should it stay fully stocked like an Airbnb (plates, utensils, towels, etc.), or pared down?
• • How do leases typically handle furniture/appliance damage or wear?
• • Should utilities, internet, or services like snow removal/lawn care be included, or not?
• • Is it all just customizable based on what works best?

If anyone has experience with furnished LTRs, I’d greatly appreciate your insights or tips! Thanks in advance!