All Forum Posts by: Neelam Khanna

You should connect with @Katherine Serrell 

Let me know if you need a real estate agent. I can get you other connections too.

Thank you 

Regarding "We have a property under contract in Holly Springs, Raleigh." Is the property in Holly Springs or Raleigh? Two different cities. Or is it in Wake County, outside city or ETJ limits? R-15 is terminology used in the Wake County UDO, specifically in Article 4 (Use Regulations) where a triplex is permissible in all Residential zoning districts except RMH (Residential Mobile Home zone). If in Wake County, no change in zoning would be required. If in Raleigh or Holly Springs, check with the UDOs in those cities: Raleigh UDO, Holly Springs UDO. Below is applicable use per WC UDO. When in doubt, contact your planning department in the applicable jurisdiction. 

Congratulations on getting your offer accepted and getting going! Is this your first STR under ownership, or just your first STR under ownership that you are self-managing?

@Neelam Khanna - I'm really excited that you guys have this property under contract! Congratulations! 

If you are self managing short term rentals, there are a number of tools available to help streamline some of your systems (combination of hardware and software). 

We use a tech stack of Appfolio (our primary property management platform/you probably can do without this) with Guesty, Remotelock, and Pricelabs all bolted on or integrated in our process for short term rentals. We also put a ring door bell or camera on the front and back of the property with smoke sensors and decibel sensors on the interior to record high levels of noise or smoking. 

Since you are self managing this property, be sure to let your CPA know you are actively managing a short term rental. Also keep a log of your hours invested in this venture. There are huge tax benefits if you are able to qualify as a real estate professional and there are additional benefits to having a short term as opposed to a long term rental. I highly recommend you check out Brandon Hall's podcast on this subject. Linked here =  Brandon Hall

Once this is across the finish line feel free to send me over a list of questions and we could set up a call and talk through some STR best practices as you get ready to launch your property.

Again, congratulations!