All Forum Posts by: Wendy Stapleton

I would like to try selling a turnkey short term rental. My family works together to set up our short term rentals and right now it is an enjoyable and rewarding process to set them up and get them running smoothly. I would like to be very active in setting up short term rentals for the next few years so want to consider doing the set up, running for a year to show gross revenue and then selling to do it all again. Has anyone done this on a small scale as an individual investor? Any suggestions on how to price a turnkey short term rental-base it on annual gross earnings? Do you sell the furniture separately due to tax implications?

I would like to establish a relationship with an attorney that has experience with real estate related litigation. I have no issues at this point but I would like to have someone check everything (leases, LLC set up, insurance, etc) BEFORE I have an issue instead of finding out at the onset of a lawsuit that I should have done something differently to protect myself. Then I would want that attorney to represent during a lawsuit because I have been told that as a landlord, it is not IF you will get sued but WHEN. Are there any attorneys in this forum or can someone recommend how to find someone? I am in Spartanburg, South Carolina. Thanks!

I am concerned that the original lease does not have the insurance company in it. The tenant has alluded to not wanting to leave but it is unlikely she could afford the rent on her own. I am concerned about her actually leaving once the insurance company is no longer paying her rent so would like a way to include them in the lease so they have some liability if she does not leave.

Has anyone had a tenant whose rent is being paid by an insurance company? I currently have a tenant that was placed in a property for 6 months when I had a management company. I am now managing the property myself and the tenant wants to extend for 2 more months. The rent is being paid by her insurance company while her home is being rebuilt after a fire. The original lease was done by my management company but now I will need to write a new lease for this 2 month extension.