Lindsay Dillon
Maintenance & repairs for 12 mo. lease vs. airBnB/SDRs
8 November 2022 | 2 replies
When all of things are newer and you manage the guests well, the actual maintenance costs for a STR tend to be about the same, if not a tad lower, than long term (NOT including the ongoing cleaning costs . . . which again helps reduce the unplanned maintenance and repair costs of the STR).However, in another way you're likely to have MORE maintenance and repair in STRs because essentially you have all the volatility as a normal house, plus furniture and decor, plus a revolving door of guests.
Ethan S.
Why do people avoid having budgets?
3 February 2017 | 4 replies
Your expenses are going to be all of the money that flies out of your wallet, whether planned or unplanned.
Kundan Chand
property with negative cash flow
25 June 2018 | 27 replies
You’ll never realize the full $600 anyways after unplanned repairs and maintenance.
Asher Knudson
Inherited Tenants Lease Issues
6 May 2019 | 9 replies
It is unplanned for you but just start calling contractors and line up the work.
Account Closed
Current Landlord for my family's rental home trying to maximize profit, need guidance
25 June 2015 | 12 replies
You get to subtract from your gross income all home depot expenses, supplies, unplanned contractor repairs, legal and accountant fees from your income to determine how much taxable income you will be responsible for at year end.
Shonda Williams
Starting a eviction...
12 April 2018 | 24 replies
On the other side of eviction lies unplanned tenant turnover of which I have done 3, 2 due to eviction and 1 due to tenant death.Every single one of those tenant turnovers has ended up costing at least $15k (repairs and upgrades needed to attract new tenant, lead compliance costs, loss of rent waiting for eviction date and loss of rent filling tenant vacancy).I haven't read anything in what you said that would make me feel I could justify embarking on a course of action that could end up costing me that kind of money.Nothing.If my tenant has financial issues and I pile on late and legal fees on top of that I am making those tenant turnover costs more likely, so I always look for different ways of dealing with this.
KENDRA J.
not allowing winter move outs
26 May 2014 | 21 replies
If they need out early (unplanned) I offer an early termination fee (ETF) that they can pay and get out.
MONICA WATSON
Need Advice ASAP!!
21 December 2015 | 23 replies
While it may take a little longer to the house occupied, you might do a little more extensive screening to qualify your next tenant so you reduce the chances of another unplanned vacancy.
Chad Michael
Tactics and strategies for getting your rehab to flow?
22 June 2018 | 8 replies
Hey @Chad MichaelLike @Mark S. said, sometimes you need to be flexible as things will come up.Generally I follow this plan:https://www.biggerpockets.com/blogs/8814/63630-how...So for your landscaping question, whenever all of the outside work is finished is about the right time to start that, but even with the best plans, the sooner you start, the bigger the risk that you might end up doing it twice, as in the case of unplanned water, gas, or sewer issues.Cheers!
Jeff Arndt
Car buying advice NEED HELP!
31 May 2012 | 16 replies
Or Possibly a low down lease from Hyundai where you are out of pocket $1999 but the monthly payment is low and you are not dealing with repairs and unplanned expenses.