The tenant's are moving out this summer and I'll be looking for new tenants, however, I'd like to rent out my unit to mid-term tenants while I'm away traveling for months at a time.

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

Hey Glenn, To keep it simple (and in general terms), bigger banks usually do not fund distressed properties that need rehab.

Based on my experience working with real estate investors and property managers, here are some common arrangements for local handymen and maintenance personnel for short-term rentals:On-call basis:Pay a set fee per call-out (e.g., $50-$100 per visit)Hourly rate for time spent on-site (typically $50-$100/hour)Additional charges for parts or materials usedRetainer agreement:Monthly flat fee (e.g., $200-$500) for basic availabilityAdditional charges for actual work performed beyond a set number of hours or visitsPer-task pricing:Agree on set prices for common tasks (e.g., $75 to unclog a drain, $50 to replace a lockbox)I like the per-task pricing as long as your maintenance calls aren't super frequent.I'm also a hard money lender if you're looking at a new deal to get quotes on soon or if you're looking to refinance a property soon!

@Caitlin JonesSell and eat your losses but several questionsWhat was your original budget?

Two units are year round, two are mid term.

However, he starts to talk about how you may sometimes overpay for a property because you are not necessarily worried about what the property is worth today but about the “long-term play.”

It's set to open in 2026 - I think that will be big for that area and short-term rentals.

I feel in this market it is difficult to get outsized returns (S&P seems very hot and might be hard to sustain 7%+ returns in long term.. but even if so, I’m risk adverse so would probably keep it my HYSA)I did run the numbers if I were to prepay $60,000 now and it appears the IRRs are lower (because of the higher cost basis).

Now both sides are long term rentals for me.