I currently work with airbnb homeowners in managing various vacation rentals.

Meaning, you may still be able to still turn a profit even if one unit goes vacates for a while.

Granted you may not be able to take nice vacations or things like that, but even just taking a day to hang out with your family, or veg out on the couch can recharge the batteries allowing you to come back to work way stronger. 

HelloI was wondering how much is enough liability coverage for a short term vacation rental.

Another question for the LA folks -- is there a workaround for the short term / vacation rental restrictions that are going into place now?

Or it’s because people wait for the original tenant to vacate to finally raise rents to $1,200?

Give the tenant their notice to vacate (follow local laws) and terminate the month-to-month lease.If you want to be "nice" let them know that you're there to help them find new living arrangements and that you can help them move (even cover some of the moving expenses if need be).Mike    

@Maria Luna a week and a half vacation and then sort of school or look for another job.

I found this house the day before I went to Colorado for a vacation.

After the 5th, $50 late fee with a 7-day pay or vacate notice.