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21 November 2024 | 3 replies
They also may be able to offer higher liability limits.
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26 November 2024 | 21 replies
Make sure you know your exact insurance costs with a specific STR policy that has general liability as well.
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24 November 2024 | 27 replies
PROGRAM 2 Owner use up to 3 weeks 40% of Adjusted Gross Standard FF&E in high season & 3 weeks Revenues from the Unit and accessory in low season package required.PROGRAM 3 Owner use up to 6 weeks 30% of Adjusted Gross Standard FF&E in high season & 6 weeks Revenues from the Unit and accessory in low season package required.HIGH SEASON: DECEMBER 21st - APRIL 15th LOW SEASON: APRIL 16th - DECEMBER 20thNote: The following fees are deducted from the gross revenue before the split:5% Management fee, 5% Travel Agent Commissions, 2% Credit Card Commissions, $4.00 per occupiedroom night (TRUMP Fee) & Group meeting fee may apply.Other Monthly Fees: 4% of the gross revenue is moved to the FF&E Reserve account and approximately$20 for liability insurance.Monthly Condominium Dues: $895.57 (These can be deducted from your monthly revenue)Initial Rental Program enrollment fee $500 and $2500 initial FF&E Reserve account contribution.Fees for OWNERS STAYS: In Rental Program (Optional): 1
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23 November 2024 | 15 replies
They follow local and federal housing laws and it shifts any liability away from you since you are not the one asking.
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19 November 2024 | 12 replies
Always keep personal and business accounts separate, document all transactions, and consult a CPA or attorney to ensure compliance and maintain liability protection.This post does not create a CPA-Client relationship.
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25 November 2024 | 19 replies
A lot of PM firms keep contracting work in-house and do not allow outside help from owner's because of timelines, relationships, and of course potential liability.
19 November 2024 | 15 replies
It could be real and if so, you acted on it when you knew about it so I don't know how anything else could be expected, but liability is a different story.
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19 November 2024 | 0 replies
Sellers want themselves released from liability for some tenant issues after the sale happens.With the background, what is a tenant estoppel letter?
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13 November 2024 | 3 replies
Mortgage Liability: Since your name is on the mortgage, removing yourself from liability usually requires the lender’s approval.
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21 November 2024 | 11 replies
Advertising a non-conforming unit without disclosing its illegal status could be considered deceptive (and fraudulent), opening the owner to major legal risks (fines or tenant lawsuits).Even private marketing, like word-of-mouth, doesn’t absolve the owner from liability if the unit fails to meet legal requirements.