Doing so ensures compliance with your lease agreement and avoids potential legal disputes down the line.In conclusion, adding your property manager to your insurance policy as an additional insured is a crucial step in protecting yourself and your property manager.

Venecia, I totally get it—there's so much content out there that it can feel overwhelming, and taking that first step can be really daunting.What I’d encourage you to do is really sit down and think: what's holding you back?

I guess I can keep it as a STR and push my way through, it would just be nice if it was something that worked for someone right now and helped me take a step back for a bit, and go back to STR when I have more ability to keep up with it!

This collaboration could be a powerful learning experience and a stepping stone to success.

The concept is that property is passed to heirs at a stepped up tax basis, that, if sold, will not result in depreciation recapture, or capital gains taxes for your heirs. 

I just worry sometimes when I see too much gung ho... and maybe not enough practicality, so I try to step up and offer a little advice from my 7 years in the business.

I believe if your mother-in-law runs out of money that Medicaid will step in and pay for the nursing care.

Hopefully some entity can step in to stop the madness, it’s a shame that there is no regulation stopping your company from doing this… 

Send me a message if you would like a copy of our7 CRITICAL STEPS TO PREVENT A TENANT NIGHTMARE BEFORE HANDING OVER THE KEYS

Building department can advise on specific next steps - municpal hearing and presentation of plans will be required in most cases.