Short term rental/out of state rental experiences

posted 2 months ago in Home
Post # 2
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9416 posts
Buzzing Beekeeper

We are just getting started on this path (we close next month!) but one thing to be cautious of is confirm with each local city/town about their airbnb policy. We’ve found a few places that we thought were perfect and then discovered that anything shorter than a month is considered an illegal rental. More places are starting to care/put restrictions so just something to watch for. Thankfully where we are buying in New Hampshire (live free or die!) and our specific town is fine with short term rentals.

Post # 3
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4876 posts
Honey bee

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@LilliV:  Yes.  This.  We are considering this as well, but we are very hesitant when it comes to condos or other shared wall types of properties because there are so many things out of our control.

We also have found that most places require a minimum 30 day rental, which is actually fine for where we are looking. 

 

Post # 4
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4876 posts
Honey bee

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@bear123:  we are also in Chicago and feel the same way.  Most of our friends have jumped ship or are currently jumping ship due to the crime and violence.  We are on our way out as well, but we just don’t know where exactly we want to end up long term.  

We have a trip planned to an area where we think we want to be and will do some research on renting out a unit part time. 

Post # 5
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9416 posts
Buzzing Beekeeper

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@sharpshooter:  ours doesn’t have shared walls but it is in an HOA. The only reason I felt comfortable with an HOA is because I know the other owners. Not only are they all fine with Airbnb, but many do it themselves and are already setting us up with their cleaners, handymen, etc. Plus even if it didn’t rent out, it’s a property we want to use ourselves and plan to for at least a week or two each year. 

Post # 6
Member
426 posts
Helper bee

My parents do this – they’re somewhat snowbirds. 

After you figure out the legal stuff, it’s a pretty easy business to run. They opened an LLC and manage it through vbro mostly. As a rule of thumb, they visit every 3 months (sometimes for a month, sometimes for a few days), just to manage the property (fix things, upgrades, repaint, etc.) They have a cleaning service and some awesome neighbors who keep an eye on the place.

The good: the house breaks even monetarily, pretty much. They bought it right before the real estate market exploded and love it a lot. It’s a really lovely home. My step-brothers and I enjoy visiting, as it’s closer to us then their other home. It the type of place where we can catch dolphins swimming by. 

The bad: People can suck. Things get ruined and broken often. They’ll try to lie about the number of people/pets. 

My mom will absolutely vet people on social media before accepting reservations. She also pretty particular about who she rents to… like, she’ll refuse a group she thinks may be a bachelorette party, just because the risk isn’t worth it. 

Post # 7
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9416 posts
Buzzing Beekeeper

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@harlequinade:  that’s the primary reason I wanted/got a small place. We looked at some 3 beds and ended up with a 1 bed. We will cap rentals at 4 adults or 2 adults and a few kids. 

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