You do need to disclose the lead status when you sell it though.

You can also hire a company simply for cleaning and maintenance, but you will be actively managing them, communicating with the guest, scheduling the cleanings and repairs, etc.

It sleeps up to 16 guests.

Last night I went into my spare guest bathroom for something to discover an active leak that I suspect was caused by the tenants heating guy shutting down the system, flushing it, and restarting it.

Guest ended up cancelling (within cancellation window) and now I am out about $190 of fees that guesty wont refund along with guesty holding on to $386 for another 90 days before they will release it.2. 

I would do the following, at a minimum:-request that he complete your rental application (hopefully you have a thorough application),-request identification documents (government-issued),-require that he provide you with proof of his visa status and the authorized length of stay,-verify his employment, income, and financial stability, and-contact his previous landlords for references.If he cannot satisfy these application requirements, do not approve.

But there's no school like managing it directly and learning from our guests and others.

One individual needs to make the final decisions.Dispute Resolution: Define and agree on a method for resolving disputes that may arise, such as mediation or arbitration, to avoid litigation.Change in Marital Status: What happens to the ownership if a party gets married or divorced?

It's a gold mine and it's full of investors who just want to see other people succeed.

I like how you set up expectations upfront about your kids to set expectations for your guests.