All Forum Posts by: Rhiannon Then

Ken Dillard I definitely want to be ethical with tenants, but what I was referring to here was the fact that some cities have limited the amount of STRs one person can have, with the argument that it limits affordable housing. Some people bypass this using different accounts. This limit to STRs may not be the rule everywhere. The book I was referring to discusses Airbnbs legal battles in New York City for this reason. Seems in Az our Governor is being proactive and working with the company, thank goodness. Thanks again :)

Michael Greenberg thanks for the offer. That would be very helpful :)

Myka Artis Good point about furniture! And all around solid advice. Thanks!

Anssi Viljanen I will have to get back to you on this. Thanks for the thorough post. Lots to think about.

Ken Dillard yes, conservative until I get my feet wet. Thanks for the perspective. I tend to process things as I write. Hearing confirmation helps me get my head on straight and be decisive.

Matt Katsaris think we are getting lost in translation. If I had the time, I'd explain myself. Hope you get your question answered.

Matt Katsaris My family is one income, teacher salary, and we have financed twice, so far. We have excellent credit, despite the fact we have some recently acquired debt. We were able to put low down this last time. The first time was our first home and we put a lot down not knowing anything about leverage. We just refinanced it out.

So, I am purchasing a tri-plex, and the ultimate goal is to Airbnb two units. Maybe all three if permissible. I was reading the book, The Story of Airbnb, and I know this may not be possible. Is there a limit everywhere. I want to be ethical. Feedback? We will be living in one unit for a year, and inheriting two tenants who are MTM. I'm trying to come up with the best strategy to get my business going. I'll be updating our unit, while we live there for future use. Here are the scenarios: 1 Move both tenants out and pay all the mortgage until my business starts moving (hopefully). One unit could be airbnbed out quickly. The other unit would need cleaning and cosmetic work. 2 Move out the immaculate tenant. Have half the mortgage paid for and start str that unit asap, once it's decorated and furnished. Keep other tenants and put them on a year lease, increase rent reasonably or continue on a mtm until I'm ready to start another str. 3 leave both tenants in MTM until life settles down, and we are fully transitioned here. Then choose option 1 or 2. Last option, makes me feel awkward because I feel like I'm giving one of the tenants, potentially two the wrong impression by keeping them at all. Better to cut ties in the beginning? I am staying in Airbnbs for the next moth until we close, and am eager to get rolling. Guess I'm concerned about losing the rental income to take a risk. What would you do? Option 2 seems like the best scenario now that I wrote it out.

Tanya F. , so you recommend if I keep them the month to month, that I keep the rents the same? Is it possible to increase rents somewhat of on a month to month. One of the tenants has been month to month for years.

Matt Katsaris Naeem Boucher my first guess is they will use her husband's income to qualify for financing.