All Forum Posts by: Sara Reeder

Our situation is a bit different than the original commenter's story so I'll clarify. Our property is a 4 bed 2 bath. There are two bedrooms and a bath upstairs and a finished basement with an additional 2 beds and a bath WITH the ability to lockoff the basement to the rest of the house. Loftium (the main tenant on the lease) sub-leased the upstairs unit to a permanent tenant at a discounted rate and that sub-tenant manages the lower airbnb rental for them. Loftium pays us a premium rent for the house (about $250-300 above market rent). We still take care of maintenance issues, taxes, insurance; however, Loftium is responsible for repairs stemming from an Airbnb guest and Loftium carries additional insurance for the STR.

Interesting, thanks for the feedback! I want to say I read it from another thread here on bigger pockets, but it could have been in a landlord facebook page I follow. Either way, that's good to hear! 

@Meagan Valvoda

Depending on your market, you will need a real estate license to become a property manager (unless you're just working on the admin side or doing basic showings, etc..). I would recommend hitting up networking events or REI events in your area. I guarantee there would be some property managers there that may need some help. If you need a license in your state, you will need to get sponsored under an experienced broker. I am a property manager in Colorado and have learned a ton! It can be a rough gig but very educational.

@HERAN PATEL, I'm looking at an existing 28 pad RV park for sale now in a tiny town a few hours west of Austin/DFW... No apparent amenities, just a basic pad with hookup. I'd love your perspective on this niche since you're in the "area." 

Thanks!

Sara

@Courtney James

I've been looking at OH for out of state rental properties but I've heard the landlord/tenant laws are awful... Anyone have feedback on that?

@Sean McDonnell

I have one property like this right now and it's been spectacular. It's always spotless, the yard is actually cared for and rent is never late. The tenant has an incentive to keep it nice.

Couldn't I do STR myself? Yes. But then I'd need to worry about managing the cleaners constantly and I don't want that hassle.

Make sure in the lease that airbnb damage/maintenance is covered.

@Gerry Magrini

Look up the company loftium. They do this across the country. I have one rental in Denver where loftium is the main tenant and pays us the rent, then they find a sub-tenant to live in one portion of the house and they rent out the other section as an airb&b. The lease needs to be Rock solid - especially with regard to maintenance and repairs - but I haven't had one issue with it in the 1.5 yrs we've rented to them. They've taken care of repairs that were related to the str side and we get $250 over market rent. 🤷

We use *********** for our single property. There's no monthly fee. It's just a fee for sending out Leases for e-signatures. It has a lot of nice features and isn't expensive if you only have one or two properties. It has online payment capabilities, online application (that the tenant completes and pays for themselves) and overall, an easy interface.

I am a (licensed) property manager with a small Property Management company in CO and we manage approximately 100 units (primarily SFH). For some reason, our bank (1stBank) will not allow ACHs out to our owners (I think it has to do with my Employing Broker's credit?)... I was wondering what system you use to pay your owners other than ACH?

Currently, we either mail checks, deposit them into their accounts at their bank or pay via paypal... I'd love to hear other options!

Thanks!