It's a very expensive repair (ballpark $15,000) and the cost depends on how long the sewer line is.A lot of municipalities here require dye tests and occupancy inspections.

Lexington is a weird market with low occupancy, 90-92%, and there aren't many assets in the market.

We believe the best way to do this is:To ensure sustained occupancy, positive tenant reviews are crucial.

I work mostly with bank & credit unions lenders, who tend to be much more conservative, and most of them use a 35% operating expense margin.Also, the operating expense is calculated off the EGI (Effective Gross Income), which is the Gross Rent x the Occupancy Rate (i.e.

They paid 3.7 million for this property at 29% occupancy. 

TIAHi Dawn, regarding your occupancy, with in effective dynamic pricing policy, you should still be able to beat the market while weeding out “bad” guests. 

They probably have incentives for owner/occupants

Looking at a property that would be a somewhat turnkey STR, it has great numbers and occupancy rates.

An unfamiliar car appearing often could indicate an authorized occupant of your rental.

If the prospects look financially shaky or sketchy, I ask for the name of a co-signer - and collect payment for a background check on them.Verbally, I also ask when they are interested in taking occupancy, and I tell them the application will be made part of the lease agreement - that I can evict them if they've lied in their application.