Renter/Tenant Horror Stories

[Imp81318]

I always enjoyed reading the weird and terrible stories about Paco and Binky's renters on the old board so I thought I'd create this thread for all of us to share stories in...

 

I'll start with one from my mom from tonight. She has a couple of rentals, one of which a guy has been for a couple of years. He's generally been a pretty good tenant, except that he had trouble paying the rent on time when he lost his job due to Covid shutdowns. She worked with him and never charged him late fees or anything and just let him pay whenever he was able to get it together with no hassle. So fast forward to now, and he called her because one of the windows on the apartment fell in and broke. They are brand new double pane tilt-in windows that my mom had installed a few months ago to help with the heating bill. He immediately saying it was installed improperly and it just fell out of the window, yada yada. She called a maintenance guy she uses that my dad used to work with, he checks it out and said there was nothing wrong with how the window was installed and it is working fine. Fortunately, only 1 of the panes broke so it can wait until they can get a new replacement pane to fix it. 

 

So mom calls the tenant and tells him this and he starts yelling that it's not his fault and hangs up on her. Calls her back a while later to say that he wants to be there when he comes to fix it and he's not paying a dime for it. Nice when people remember those who worked with them...

[Bear Grylls]

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Governor Andrew M. Cuomo today signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020. The Act (S.9114/A.11181) prevents residential evictions, foreclosure proceedings, credit discrimination and negative credit reporting related to the COVID-19 pandemic. It also extends the Senior Citizens' Homeowner Exemption and Disabled Homeowner Exemption from 2020 to 2021. The Act adds to New York State's efforts to protect tenants and homeowners from the economic hardship incurred as a result of the COVID-19 pandemic.

 

[paco]

When we screen our renters we make them agree to certain rules before we accept their request.  One of them being, no smoking.

 

When our last renter checked out we arrived an hour or so later.  When schmoopie opened the door, a cloud of weed exited.  I found weed crumbs on 4 different surfaces and resin in the bedroom carpet.

 

2 hours later AirBNB sent a notification "How did XXXXXXX do?"

[VanHammersly]

4 minutes ago, paco said:

When we screen our renters we make them agree to certain rules before we accept their request.  One of them being, no smoking.

 

When our last renter checked out we arrived an hour or so later.  When schmoopie opened the door, a cloud of weed exited.  I found weed crumbs on 4 different surfaces and resin in the bedroom carpet.

 

2 hours later AirBNB sent a notification "How did XXXXXXX do?"

I’m closing on a lake house right now and we’re going to AirBnB it sometimes. I’d love any tips you’ve got. 

[paco]

12 hours ago, VanHammersly said:

I’m closing on a lake house right now and we’re going to AirBnB it sometimes. I’d love any tips you’ve got. 

Funny you should ask, another poster reached out recently via PM.  So to save my carpal tunnel plagued hands:

Quote

That's pretty much what we do.  Our place makes enough to cover the costs (mortgage, taxes, HOA, utilities, cable, supplies (both guest amenities and maintenance) and make a little extra on the side.

 

However, I do have a few questions\thoughts

1)  Are you looking for turn key or a fixer upper (or somewhere in between).  Our place was a stereotypical situation where a little old lady lived there for 30 years and didn't do squat to it, so it needed a LOT of updating.  Pepto Bismol walls and turquoise carpets don't show as nicely as you would think.  We sunk about 20 G's into remodeling and furnishing the place.  It was pretty much a gut job but it now shows beautifully on VRBO and AirBNB

2) Cleaning.  I'm only bringing this up for one reason.  Yes, since its cross country you would most likely hire a cleaning service.  But its VERY important to get one that does not a just do a thorough job but whatever else you would like them to do to the place.  For example, we provide towels, linens as well as little amenities (soaps, shampoos, snacks, bottled water, etc) and a handwritten note welcoming out guest.  This is all very important to get the coveted 5 star rating.  (If we miss a dust bunny, we hope they don't end up dinging us because everything else is super clean and we left personal touches)

3) Maintenance.  While a broken fridge is one thing (Call a repair man), think about how you are going to replace a glass or dish a guest broke.   For us its easy.  We bought several sets and can simply drive down and replace it.  Not as easy with a property across country, so its something you should have a plan for.  And with Las Vegas you can expect broken items and stained couches.

4) Running the actual business.  In order to get rentals, getting on the front page (or as close to the front page) of the various sites is KEY.  What we did when we first started: We had lower rates to get rentals (and then 5 star reviews) to bump us up the page.  Then once we got there we jacked the rates up.  To get on the first page there are many factors.  Obviously # of rentals and ratings.  But response time is another.  You will need to be Johnny on the spot responding to inquires.  If you let them sit, it drops you down.  So be prepared to put work in running the day to day operations.

 

 

I brought up #1 because depending on what route you go may dictate how quick\easy it will to cover costs or turn a profit.  Its much easier for us because we did a 6 month renovation on a place that the mortgage costs $100 a month more than our Ford Explorer.  After our first full year we broke even and now turn a profit.  

I brought up the other 3 because while you are thinking high level, these are some of the dirty details that you have to account for.  A lot of it is a pain in the butt and since you are thinking of doing long distance, much of it is amplified due to logistics.  But if you can get it to work, I think it is worth it.  We have a place that family, friends and ourselves can use (we get so many rentals now we have to plan in advance) that also generates some income.  

 

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I almost forgot..... you need to be absolutely sure that wherever you buy it allows for short term rentals.  And make sure they are clear about it.  We have looked into additional properties and one of them the answer was yes......... but only one per month.

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That ( a local property management company that's reliable and reputable) would probably be your best bet.  Unfortunately that really does eat into the profits.  So if the goal is to subsidize and not break even, you should be fine.

 

Before you go down, I would also suggest you research heavily on AirBNB and VRBO for what comparable properties are renting for. This is assuming you have a general idea of the location, size, etc of the property you are purchasing.  Ask yourself "how much is this renting for in July when it is scorching hot vs peak season in XXXXXXX".  Its a bit chicken and the egg, because knowing where you want to go will help where you search the rental sites for this info, but at the same time, you may find that certain properties may pop up in a particular building which could help you with your purchasing decision.  Once you know that, you can come up with solid estimates as to what you can expect to earn (the first year will be your hardest, expect to fall short) and does that # get you to where you want to be.

 

 

Oh, one more thing, and this is totally anecdotal to our shore property:  We have, in general, found that the class of folk have been better on VRBO than AirBNB, but we get a LOT more rentals through AirBNB.  We maybe had *one* bad rental with VRBO, but with AirBNB its been hit or miss.  AirBNB seems to have more folks treating you like a hotel while VRBO folks have had more "this is someone's home" respect.  

And we do screen to help filter out folks who will treat our property bad.  We ask for # of guests and all of their names, to agree to no smoking, agree to no parties, and only registered guests are permitted in the property (of course if they say "well my friend so and so is in the area" we tell them no problem).  While this doesn't keep them from doing it anyway and telling us to go pound sand, it does help filter out riff raff who say "F it, I'll rent elsewhere"

 

 

TL:DR; It's all about getting on the first page of AirBNB.  To do that you need the five star ratings.  Personal touches and good\friendly customer service goes a LONG way to doing that.  And if you can do something that makes your property stand out from the others (we have bold stripes and its decorated well), its an additional leg up since most places in a vacation region tend to blend together.

[dawkins4prez]

Yeah we've got a couple airbnb apts in a touristy area and i got some stories.  Weed smoking isn't a biggie to me, cigarettes will stink a place up quicker.  But couples getting into fights where you have to take one of them to the airport to keep the neighbors from calling the police...yeah that sucks.

[paco]

2 minutes ago, dawkins4prez said:

Yeah we've got a couple airbnb apts in a touristy area and i got some stories.  Weed smoking isn't a biggie to me, cigarettes will stink a place up quicker.  But couples getting into fights where you have to take one of them to the airport to keep the neighbors from calling the police...yeah that sucks.

Agreed.  That's why we are very strict on it.

 

Do you have an ozone machine?  Running one of those for a bit really helps.

[paco]

We have two ceiling fans in our unit and both have remote controls.  One of the remotes has a switch on it for the direction that the fan spins.  We had one renter decide to try to change the direction while it was going full speed and burned out the motor.  Didn't tell us.  So when we were ready to turn the unit over to our next renters and went to run the fan, we found out it wad dead giving us less than an hour to run to Lowes (which is not close), buy a new fan and install it   

 

You get to the point that if crap is broken, you don't mind if they tell you up front.  Its the surprises that piss you off.

[greend]

I was in the rental business for about 5 years (not by choice couldn't sell the house) I had 3 renters over that period of time. 1 was an old lady that paid on time and did minimal damage.

1 was a drunk and his now ex-wife that paid only the first months rent and security deposit and then proceeded to not pay another pmt, then they break-up and leave their crap in my house until I got a lawyer to send them a letter to get their stuff or lose it, during their whole time there about 6 months, they had been throwing their trash in the basement vs having it picked up and they did about 1500 bucks worth of damage to the house (that's with me doing the labor) and of course suing them would have gotten me a judgement but likely not a penny from either one.

 

Last one was a couple and their kids they seemed like a nice couple but they didn't bother cleaning the tub or letting me know the toilet was leaking the whole time they were there causing me floor damage, replacing a tub and shower (ceramic).

Needless to say I sold the house (after I fixed it up again) for whatever I could get out of it and took the loss and that was the end of my landlord experience. 

[paco]

13 hours ago, VanHammersly said:

I’m closing on a lake house right now and we’re going to AirBnB it sometimes. I’d love any tips you’ve got. 

Some things I thought of that aren't in that PM discussion:

1) Will you be doing the cleaning yourself or having a company do it?  Will you be providing sheets and towels?  We personally do the cleaning ourselves (we are not against the idea of doing a cleaning service, but we are so hyper focused on providing a great first impression, we want to make sure it is spotless) so we have duplicates of everything.  We can go down and do zero laundry.  If gasses break, we have replacements already purchased.  Having this all at the ready (we don't bring the glassware, just the linens) allows for a quick turn around.

2) A day or two leading up to the rental, send all the info that they need (How to access the place, amenities you provide, etc) minus the code to the lock box.  Most people are ok going in blind the day of but appreciate the info, while others (like me) need to know exactly what they need to bring for their stay.  If you provide towels your renter will appreciate not needing to pack them (especially if they are flying in)

3) Don't assume they read your listing.  You can state "We provide this" and "The unit sleeps this many people" over and over again, but the truth is people focus on the pictures and the price.  So it is important that in your initial communication to state what the rules are (the big ones, like no smoking.) and anything that you may need to make clear.  For example, our unit is one bedroom but a sleeper sofa is in the living room so we state it *can* sleep up to four people.  But if we get a family renting, we reiterate that its only a pull out couch in the living room for the second bed.  Setting the correct expectations can save you from a bad review, and you want to be a 5 star baller.  

4) As much as AirBNB and VRBO try to push you to automatically accept bookings, don't.  Riff Raff aside, there are a lot of scammers out there. (I put the over-under on your first "I have to pay by check" scam at 5 months).  The LAST thing you want to do is tie up a week(end) on a booking that turns out to be a scam.  Most of these a-holes don't pull their s*** until 2 weeks before their scheduled stay.

5) Carefully consider your cancelation policy.  We personally go very strict to make sure people who rent are serious.  However if they reach out and there are circumstances that are out of control, we help out in hopes of a future booking with them (rarely happens).  But some people are not comfortable with a rigid cancelation policy that locks them in, so you may turn away renters.  

6) Welcome binders are VERY helpful.  Put in it everything that will help their stay.  Wifi Codes.  Recommended restaurants (and their menus).  A check out list of things you would like them to do (turn off the ac, take out the trash, etc) before they leave.   

7) I've alluded to amenities, but they really are a great way to boost your rating.  When thinking about amenities, think both small (bottles of water and snacks) and big (general items you provide).  On the "small" side, because we have a beach property, we provide cold waters (spring and sparkling) in the fridge.  Most folks stock up at the grocery store the day they arrive, so having something actually cold to drink goes a long way.  As for "big", I'm talking about things that make your stay feel like at home.  One thing that we get comments on over and over again are how "we didn't need anything but a change of clothes and a tooth brush".  Our place is very small, but we squeezed in just about everything you will need to be comfortable.  Iron, check.  Cookie sheets, check.  Flyswatter, check.  IMO, the best way to come up with and provide a list of these items is to live at the property for a few weeks and see what you need to be comfortable.  This came naturally for us because we did the lengthy remodel (we literally spent every weekend there for 6 months getting the place ready.  There was a month where schmoopie picked me up from the airport, took us to the shore, I remodeled, and then dropped me off at the airport to go to Denver and I didn't step foot in my own home that entire time)  If you can do that, that will really help with your ratings.  The last thing a guest wants to do is buy a flyswatter on their vacation, it's their time to relax.

8 ) Bad weather days.  Especially for us given that our place is so small and the vacation is meant to be outdoors, this is an important variable to consider.  If folks are stuck inside, make sure they are entertained.  The *EASIEST* way to get a leg up on your rental competition is to provide a solid cable\streaming package.  Way too many times vacation rentals have the bare bones cable, and it sucks as the consumer.  You are scrolling through the menu and try to watch X only to find its not on the package. You go to the next show and the same.  Its frustrating and puts a terrible taste in their mouth.  So when considering your month to month budget, make room for cable and streaming options.  We provide a solid cable plan and Netflix.  Also, look into free options.  Many Samsung Smart TV's come with their own streaming channels.  

9) Lock down devices.  I can't stress this enough.  Cable, Alexa, ETC. Anything that can order things on demand you need to make sure there is some security around ordering on the fly.  We started getting random charges because someone said, "Alexa, play XXXXXX" and it wasn't from a free service. 

[dawkins4prez]

40 minutes ago, paco said:

Agreed.  That's why we are very strict on it.

 

Do you have an ozone machine?  Running one of those for a bit really helps.

7th floor by the beach.  Unless somebody chain smokes in there for an extended period the wind takes care of it.

 

15 minutes ago, paco said:

Some things I thought of that aren't in that PM discussion:

 

Also try as much as you can to rent to people who have their own highstar ratings.

[VanHammersly]

52 minutes ago, paco said:

Funny you should ask, another poster reached out recently via PM.  So to save my carpal tunnel plagued hands:

 

 

 

TL:DR; It's all about getting on the first page of AirBNB.  To do that you need the five star ratings.  Personal touches and good\friendly customer service goes a LONG way to doing that.  And if you can do something that makes your property stand out from the others (we have bold stripes and its decorated well), its an additional leg up since most places in a vacation region tend to blend together.

 

5 minutes ago, paco said:

Some things I thought of that aren't in that PM discussion:

1) Will you be doing the cleaning yourself or having a company do it?  Will you be providing sheets and towels?  We personally do the cleaning ourselves (we are not against the idea of doing a cleaning service, but we are so hyper focused on providing a great first impression, we want to make sure it is spotless) so we have duplicates of everything.  We can go down and do zero laundry.  If gasses break, we have replacements already purchased.  Having this all at the ready (we don't bring the glassware, just the linens) allows for a quick turn around.

2) A day or two leading up to the rental, send all the info that they need (How to access the place, amenities you provide, etc) minus the code to the lock box.  Most people are ok going in blind the day of but appreciate the info, while others (like me) need to know exactly what they need to bring for their stay.  If you provide towels your renter will appreciate not needing to pack them (especially if they are flying in)

3) Don't assume they read your listing.  You can state "We provide this" and "The unit sleeps this many people" over and over again, but the truth is people focus on the pictures and the price.  So it is important that in your initial communication to state what the rules are and anything that you may need to make clear.  For example, our unit is one bedroom but a sleeper sofa is in the living room so we state it *can* sleep up to four people.  But if we get a family renting, we reiterate that its only a pull out couch in the living room for the second bed.  Setting the correct expectations can save you from a bad review, and you want to be a 5 star baller.  

4) As much as AirBNB and VRBO try to push you to automatically accept bookings, don't.  Riff Raff aside, there are a lot of scammers out there. (I put the over-under on your first "I have to pay by check" scam at 5 months).  The LAST thing you want to do is tie up a week(end) on a booking that turns out to be a scam.  Most of these a-holes don't pull their s*** until 2 weeks before their scheduled stay.

Great info, Paco.  Thanks man.

The place is only an hour and half from myself and my brother (who I'm buying the place with).  The thing here for us is that we're just trying to cover bills + any problems that arise.  We're paying the mortgage with the money we get from a loan holding we have on a condo.  So, it's just about bills/upgrades/profit(?) with the AirBnB.  I mean, primarily, this is going to be a vacation home for me and my family (and my brother to a lesser extent, since he's single and doesn't have any kids [I think he'll mainly use it as a talking point to try and get laid]), but I think if we split it in half every month, with 2 weekends dedicated to rentals and 2 to us going that would probably be the ideal sweet spot.  Since it's a lake house, it'll obviously be extremely seasonal though, with a lot more rental opportunities in the summer and I'm sure it'll dry up to next to nothing from Dec-Feb.  Thankfully, in GA summer lasts for like 8 months, so there's plenty of opportunities in there. 

Our plan is to use a management company in the area.  Like you said, that'll cut into profits, but since that's not the main goal here, we're alright with it.  Good call on doing something bold to make it stand out.  We were thinking about mounting a slide to the dock and then, yeah, some kind of bold design move on the inside might do the trick.  

[vikas83]

We have been renting our house in CT to an older couple since 2017, and they have 3 years left on the lease as well. We were looking to sell, but they needed a place ASAP after their home burned down and asked to rent for a year. Then extended for a year. Then signed a 5 year extension and agreed to take on all maintenance other than major projects (e.g., the washer/dryer needed to be replaced). They have actually spent tens of thousands on landscaping. They don't want to buy -- they say it is because they want to see where their adult children settle, but I think they are superstitious about owning again after losing their last home. Rent is on autopay the 1st of the month, and after all expenses we make ~2k a month off them.  

[paco]

1 hour ago, VanHammersly said:

 

Great info, Paco.  Thanks man.

The place is only an hour and half from myself and my brother (who I'm buying the place with).  The thing here for us is that we're just trying to cover bills + any problems that arise.  We're paying the mortgage with the money we get from a loan holding we have on a condo.  So, it's just about bills/upgrades/profit(?) with the AirBnB.  I mean, primarily, this is going to be a vacation home for me and my family (and my brother to a lesser extent, since he's single and doesn't have any kids [I think he'll mainly use it as a talking point to try and get laid]), but I think if we split it in half every month, with 2 weekends dedicated to rentals and 2 to us going that would probably be the ideal sweet spot.  Since it's a lake house, it'll obviously be extremely seasonal though, with a lot more rental opportunities in the summer and I'm sure it'll dry up to next to nothing from Dec-Feb.  Thankfully, in GA summer lasts for like 8 months, so there's plenty of opportunities in there. 

Our plan is to use a management company in the area.  Like you said, that'll cut into profits, but since that's not the main goal here, we're alright with it.  Good call on doing something bold to make it stand out.  We were thinking about mounting a slide to the dock and then, yeah, some kind of bold design move on the inside might do the trick.  

Happy to help.  (I've updated this post quite a bit since you read last read it btw)

 

Good to hear that it is supplemental for you guys. For us, its become a part time job because for us to be able to afford it, it needs to be rented out consistently.  With everything else going on, it makes running it difficult.  (I've even recently got my ass up at 3:30 am to run down to the shore, clean it, and come back home to put in my 8 hours because we had renters on an off cycle schedule)

 

And I LOVE the slide idea.  Focusing on things that will make a memory for the kids will make your property very attractive.  Family friendly properties rent so much easier.

 

 Finally, if you don't mind me giving my two cents since you divulged your rental plan:

1) If you do it right, expect a LOT more offseason rentals than you may think.  We have a beach front property and we literally rent it year round. It helps that we have AC nearby, but we have a ton of folks who come to just get a quiet weekend away.  (And this is NJ, not GA, so its cold and windy AF.)  Offseason rentals tend to be just a few days vs peak season, but can really help supplement your income (depending on  how you manage the property).  

2) On season.... it MAY be difficult to find just weekend rentals.  I don't know the area, rentals history, etc.  But as far as vacations go, many people are looking to do a full week.  You should be able to fill in the weekends (and honestly, if you can work it out that you and your brother do the cleanings, that will help with your profit) but don't be surprised if slots are left open.  You will most likely need to find a balance that allows for full week rentals yet enough open slots for you and your brother to enjoy it (and you need to block these in advance.... like, 8 months in advance)

 

 

another edit: just a heads up, if you do AirBNB AND VRBO, you can sync your calendars.  Surprisingly, its a feature they both offer even tho they are competitors in the market.  So don't limit yourself to one because you will think it will make it more difficult to manage.  (Costs, on the other hand......)

[VanHammersly]

8 minutes ago, paco said:

Happy to help.  (I've updated this post quite a bit since you read last read it btw)

 

Good to hear that it is supplemental for you guys. For us, its become a part time job because for us to be able to afford it, it needs to be rented out consistently.  With everything else going on, it makes running it difficult. 

 

And I LOVE the slide idea.  Focusing on things that will make a memory for the kids will make your property very attractive.  Family friendly properties rent so much easier.

 

 Finally, if you don't mind me giving my two cents since you divulged your rental plan:

1) If you do it right, expect a LOT more offseason rentals than you may think.  We have a beach front property and we literally rent it year round. It helps that we have AC nearby, but we have a ton of folks who come to just get a quiet weekend away.  (And this is NJ, not GA, so its cold and windy AF.)  Offseason rentals tend to be just a few days vs peak season, but can really help supplement your income (depending on  how you manage the property).  

2) On season.... it MAY be difficult to find just weekend rentals.  I don't know the area, rentals history, etc.  But as far as vacations go, many people are looking to do a full week.  You should be able to fill in the weekends (and honestly, if you can work it out that you and your brother do the cleanings, that will help with your profit) but don't be surprised if slots are left open.  You will most likely need to find a balance that allows for full week rentals yet enough open slots for you and your brother to enjoy it (and you need to block these in advance.... like, 8 months in advance)

 

 

another edit: just a heads up, if you do AirBNB AND VRBO, you can sync your calendars.  Surprisingly, its a feature they both offer even tho they are competitors in the market.  So don't limit yourself to one because you will think it will make it more difficult to manage.  (Costs, on the other hand......)

See, that's great to hear, because I'd welcome a week-long rental but I just kind of assumed they'd be hard to come by.  But if it's during the week, then I'm all for it because we're rarely going to get down there during the week anyway and booking a week long rental seems like an easy way to make what we need in a month while still giving ourselves a chance to enjoy it.  Good call on booking in advance.  I knew we'd have to give ourselves a cushion there and it's gonna be tough to project that far out, but we'll have to figure it out.  

[Gannan]

We rented our house in north carolina for a while when we couldn't sell it. It was a nice big 5 bed 4 bath house right near the beach. Renting was a total nightmare. My advice is don't do it. But if you're going to, don't use a rental management company. They don't do anything except take your money. We finally sold the house right before covid hit. Huge weight off my shoulders. 

[paco]

7 minutes ago, VanHammersly said:

See, that's great to hear, because I'd welcome a week-long rental but I just kind of assumed they'd be hard to come by.  But if it's during the week, then I'm all for it because we're rarely going to get down there during the week anyway and booking a week long rental seems like an easy way to make what we need in a month while still giving ourselves a chance to enjoy it.  Good call on booking in advance.  I knew we'd have to give ourselves a cushion there and it's gonna be tough to project that far out, but we'll have to figure it out.  

Our little beach shack is less than 600 square feet. We never thought that we would get anything more than occasional week long rental. 

 

This year, not only do we have the entire summer booked with week long rentals (exclusively, we do not allow less that 7 days in peak season), we have one 3 week rental in June and one 24 day rental in September. (the September rental is a repeat renter that does over 20 days every year since his first week long rental).

 

So with a full house you may be surprised at what you get.  And to further supplement your income, you may want to consider a long term off season rental.  

 

 

2 minutes ago, Gannan said:

We rented our house in north carolina for a while when we couldn't sell it. It was a nice big 5 bed 4 bath house right near the beach. Renting was a total nightmare. My advice is don't do it. But if you're going to, don't use a rental management company. They don't do anything except take your money. We finally sold the house right before covid hit. Huge weight off my shoulders. 

No arguments here.  It's almost a second full time job.  If you are going to do it, you need to be prepared to put in the work

[paco]

1 hour ago, dawkins4prez said:

Also try as much as you can to rent to people who have their own highstar ratings.

Oh yeah, this is a good one.  If we see someone is a new member and\or with zero ratings, we IMMEDIATLY become skeptical.  

[paco]

23 minutes ago, VanHammersly said:

See, that's great to hear, because I'd welcome a week-long rental but I just kind of assumed they'd be hard to come by.  But if it's during the week, then I'm all for it because we're rarely going to get down there during the week anyway and booking a week long rental seems like an easy way to make what we need in a month while still giving ourselves a chance to enjoy it.  Good call on booking in advance.  I knew we'd have to give ourselves a cushion there and it's gonna be tough to project that far out, but we'll have to figure it out.  

Oh... one more thing popped into mind.

 

For our beach condo, we set it up so that week rentals during peak season can ONLY be Saturday to Saturday.  On our island, that is the normal cadence for vacationers.  When you set up your property on AirBNB, you can set it for minimal # of days and even what days they are allowed to check in\check out.  So if you can find out what is typical for your property (when people tend to come in and leave), you can modify your rental calendar to make renters conform to that schedule. (on season we are Sat-Sat, off season minimum 2 days)   Trust me, anything you can set up up front to be automated will reduce the rental headache.  

[DiPros]

23 minutes ago, paco said:

Oh... one more thing popped into mind.

 

For our beach condo, we set it up so that week rentals during peak season can ONLY be Saturday to Saturday.  On our island, that is the normal cadence for vacationers.  When you set up your property on AirBNB, you can set it for minimal # of days and even what days they are allowed to check in\check out.  So if you can find out what is typical for your property (when people tend to come in and leave), you can modify your rental calendar to make renters conform to that schedule. (on season we are Sat-Sat, off season minimum 2 days)   Trust me, anything you can set up up front to be automated will reduce the rental headache.  

Glad to see all is going well, and you and bink are actual owners that take care of their stuff!

My latest experience in renting a vacation home was thru VRBO.  We were going to go to Cape May after XMAS thru New Years.  The owner was very responsive.  I ended up having to cancel on Dec. 23rd thanks to covid19 and he totally understood.  VRBO refunded me  (in full) right away, and I didn't have to file the insurance claim.  Still worth the loss of that fee to me since I did break the agreement.   A super house that I could tell he took great pride in and was involved in the rentals.  

I have been a tenant all my life.  Even my parents charged me room and board after I graduated hs.  I have lived in the same place since 1986.  Mr. Di would do maintenance when requested at the property, and later on, while the landlord spent the winters in his FL home, we never paid a rent increase in probably 10-15 years.  Two months after he's dead, bam! Pay up *itch.  The relationship quickly soured.  He asked for his increase WHILE I had reported the sewer gas odor that was happening.  He's a slum lord.  The place is a wreck.  I have a laundry list of things wrong.  Main ones are OK at the moment. I'm safe. I looked into other places, one of which is brand spanking new, but at a hefty price which I'm afraid if I go there I would have to give up the beach cottage as I wouldn't be able to afford both.  I'm staying put for now only due to still sorting and finishing things, and it all takes time.  With any luck I'll check out of life before I am forced to move or  make any decision of the like.

[we_gotta_believe]

1 hour ago, Gannan said:

We rented our house in north carolina for a while when we couldn't sell it. It was a nice big 5 bed 4 bath house right near the beach. Renting was a total nightmare. My advice is don't do it. But if you're going to, don't use a rental management company. They don't do anything except take your money. We finally sold the house right before covid hit. Huge weight off my shoulders. 

I know a couple handfuls of people who have had rental properties (including every member of my immediate family) and virtually all of them say the same thing verbatim after they eventually sell them. My dad's the only one who was lucky enough to have good renters, or bad ones who just did minimal damage. I'm just not sure the risk/reward profile is all that favorable, aside from the fact that they end up being huge time sinks. 

[Gannan]

11 minutes ago, we_gotta_believe said:

I know a couple handfuls of people who have had rental properties (including every member of my immediate family) and virtually all of them say the same thing verbatim after they eventually sell them. My dad's the only one who was lucky enough to have good renters, or bad ones who just did minimal damage. I'm just not sure the risk/reward profile is all that favorable, aside from the fact that they end up being huge time sinks. 

Yeah our experience was bad, but could have been worse. Our renters at least paid on time for the most part. Our NC house was in an HOA (pretty much all of them are down there) and our renters would never maintain the property up to HOA standards. It was a big property and difficult to maintain which is why I offered to hire a company to do it, but renters didn't want to pay extra for it and insisted they could do it themselves, which they couldn't. They also had 5 kids and did a crap load of damage. I kept their entire security deposit but it still didn't cover the costs of repairs and getting it show ready to sell. He threatened to sue me, but I knew with me living in PA and him in NC he'd have to sue me in district court which would cost way more in legal fees than what he thought I owed him. I told him "Yes, that's your prerogative. The courts are at your disposal if you feel that I owe you money". I knew that I'd never hear from him again. I'm just glad to be done with it. 

[vikas83]

Man, this thread is making clear that I am lucky with my renters. We might hear from them 3-4 times a year. They sent us a housewarming gift when we bought our new place.

[DiPros]

31 minutes ago, vikas83 said:

Man, this thread is making clear that I am lucky with my renters. We might hear from them 3-4 times a year. They sent us a housewarming gift when we bought our new place.

That's what you get for vetting your tenants.  I've always felt I am a good one.  We never bothered with anything and did most things ourselves.  I do have some neighbor horror stories from over the years.  Now, this guy (landlord) has let the Mexicans in, because they pay cash and right on time.  I have no problem with them, it's just their culture is different.  If there is a downspout that has blown off the connector to the gutter, how hard is it to go out there and put it back on?  They also seem to hold on to their trash and take it to the dumpster once a week.  One time when Mr. Di was spewing curse words in the house to me about another one starting their suv inside the garage causing the alarm to go off, I had to calm him down and explain.  They don't have garages in Mexico so they probably don't know any better.  Go over there and tell them to keep the door open, or pull it out if you're going to leave it running.  Landlord has told me they don't call when there is water leaking either.  So, yeah.  I don't feel sorry for him at all.  I have to play nice for now.

[vikas83]

1 minute ago, DiPros said:

That's what you get for vetting your tenants.  I've always felt I am a good one.  We never bothered with anything and did most things ourselves.  I do have some neighbor horror stories from over the years.  Now, this guy (landlord) has let the Mexicans in, because they pay cash and right on time.  I have no problem with them, it's just their culture is different.  If there is a downspout that has blown off the connector to the gutter, how hard is it to go out there and put it back on?  They also seem to hold on to their trash and take it to the dumpster once a week.  One time when Mr. Di was spewing curse words in the house to me about another one starting their suv inside the garage causing the alarm to go off, I had to calm him down and explain.  They don't have garages in Mexico so they probably don't know any better.  Go over there and tell them to keep the door open, or pull it out if you're going to leave it running.  Landlord has told me they don't call when there is water leaking either.  So, yeah.  I don't feel sorry for him at all.  I have to play nice for now.

I seriously don't think we did that much, other than a credit check and a background check. Couple in their late 50s with adult children. They legit wanted to move in the day they looked at it. Price is a nice way of vetting people -- we charge them $10k/month. Generally, if you can afford that, you're not irresponsible.