I'm currently under contract for a duplex (2 bed, 1 bath each unit) and planning to house hack by living in one unit and renting out the other. I'm considering offering the rental as a midterm or short-term option. As a rookie in this space, I'm looking for advice on the best tools and software for the following:
-> Listing the property across multiple platforms like Airbnb, Furnished Finder, etc.
-> Syncing calendar bookings across different sites
-> Screening tenants if needed
-> Collecting rent and security deposits
-> Managing lease documents and agreements
Would love to hear what apps or systems more experienced hosts are using to streamline these processes!
We have listed our two units on Furnished Finder since we purchased our first condo a year ago; we haven't needed other sites (yet!). Our combined occupancy rate is 92%.
We use KeyCheck, a FF affiliate, for tenant screening (credit, criminal, eviction), lease agreements (state specific), and credit/debit card payments. KeyCheck is integrated with FF. We also use Bill online through Bank of America for invoices and payments, as well as Zelle for payments.
I recommend reading 30-Day Stay by Zeona McIntyre and Sarah Weaver, and Real Estate Rookie by Ashley Kehr. Both books, published by BiggerPockets, are loaded with practical advice that was helpful to us as we got started. The Landlord Diaries podcast was really helpful too in learning how to best use FF.
I hope this is helpful as you get started. Best of luck!!
We have listed our two units on Furnished Finder since we purchased our first condo a year ago; we haven't needed other sites (yet!). Our combined occupancy rate is 92%.
We use KeyCheck, a FF affiliate, for tenant screening (credit, criminal, eviction), lease agreements (state specific), and credit/debit card payments. KeyCheck is integrated with FF. We also use Bill online through Bank of America for invoices and payments, as well as Zelle for payments.
I recommend reading 30-Day Stay by Zeona McIntyre and Sarah Weaver, and Real Estate Rookie by Ashley Kehr. Both books, published by BiggerPockets, are loaded with practical advice that was helpful to us as we got started. The Landlord Diaries podcast was really helpful too in learning how to best use FF.
I hope this is helpful as you get started. Best of luck!!
Property Manager · Dallas, TX · Member since 2015 · 61 posts · 35 votes
1y
That's so exciting! I remember my first duplex....
Keep it simple! Since you are househacking you are only renting out one unit, right?
There is such a learning curve, so this is my advice:
1. Post to Airbnb and FF
2. Don't get software to manage it just yet....
3. Know how to screen -- I was using mysmartmove.com-- guest pays
4. Have SOME kind of lease
4. Know how you will collect rent --- I was using zillow to start, be careful with venmo/cahs app etc
When it comes to automated messaging, I think you can get to that in 6 months or after 1-2 bookings. It's a lot of work to get started, especially the first time. I think by then you will have a better idea of what kind of technology and tools you need.
That's so exciting! I remember my first duplex....
Keep it simple! Since you are househacking you are only renting out one unit, right?
There is such a learning curve, so this is my advice:
1. Post to Airbnb and FF
2. Don't get software to manage it just yet....
3. Know how to screen -- I was using mysmartmove.com-- guest pays
4. Have SOME kind of lease
4. Know how you will collect rent --- I was using zillow to start, be careful with venmo/cahs app etc
When it comes to automated messaging, I think you can get to that in 6 months or after 1-2 bookings. It's a lot of work to get started, especially the first time. I think by then you will have a better idea of what kind of technology and tools you need.