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8 August 2024 | 1 reply
They came across this condo (list price $369,000) and are very interested.
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10 August 2024 | 2 replies
I'm sure a more modern solution like Swiftlane will come at a price, but it may save you from some headaches with building security and tenant retention.No matter what you decide, congratulations on the 8 units thats awesome!
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7 August 2024 | 2 replies
Are there any new opportunities or pitfalls to be aware of?
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10 August 2024 | 8 replies
Here is what I proposed:Setup fees : Administration Setup:One Time Fee: $400Guidebook: Using professional photos give the guests a professional tour of the house and how the home works (Wifi passwords // How to use grill // How to use propane fireplace // Hot tub instructions // Sauna instructions //Check in and check out instructions //where extras may be storedOTA (Online Travel Agency) setups: taking professional photos and actively updating your listing on popular platforms;PMS (Property Management System) Setup Smart Pricing Set upWebsite integrationOther (furniture arrangement / design / décor shopping and set up) $50 per hour· Placement fees · Marketing Cost: Variable depending on needs/wants for marketingFacebook AdsGoogle Ads Cleaners: Set up procedures/take pics of expectations· Management fee—30%Guest communicationCleaner communicationSetting Rental rateDealing with small maintenance issuesBooking CoordinationSmart Lock integrationKeeping supplies stocked (TP, paper towel, all cleaning products, coffee, filters, creamer, sugars, teas,)(Receipts would be submitted on a monthly basis for either reimbursement or book keeping purposes)Encouraging guests to leave good reviews by periodically checking in, providing a review template, and ensuring guests receive the amenities they are looking forContinued marketingMajor Maintenance fees—OwnerCleaning and laundry services fees: Cleaning fee to the guest depending on how cleaner wants to charge
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9 August 2024 | 3 replies
Bottom line is you need the best product at the best price.
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7 August 2024 | 4 replies
You could also lock yourself up into a contract that is not in your favor for too long and miss out on other opportunities.
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7 August 2024 | 0 replies
Good income generator for both units and also gives the opportunity for owner occupancy.
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9 August 2024 | 1 reply
Also, what prices do you receive?
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9 August 2024 | 4 replies
The largest differences will be flexibility (aside from pricing and rate) and the ability to finance distressed assets.
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9 August 2024 | 2 replies
We have rates in the Mid 6% rate and I expect them to drop in the coming months.As for your situation, I don't think I would look at owner financing as you don't get to experience the price appreciation.