Apple Valley, CA · Member since 2008 · 14 posts · 2 votes
So I am looking to get into my second short-term rental towards the end of this year. I closed on one last year but found I couldn't take advantage of the STR loophole because I was required to use professional managers in the resort development. I purchased him. I have a much better understanding of what I need to do however, I'm not sure I understand or know how I can legitimately manage the property remotely and be able to address issues that will pop up adequately on my own. I know there are third-party cohosting services that I can utilize however, how does that appear to the IRS when making the argument that I'm still managing the property, just with assistance? Of course I would be materially participating in meeting all day requirements. If you know of services out there like Vacasa or others of and can suggest, please do. Thank you all!
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
1y
List on VRBO and Airbnb, get a great cleaning service to be your boots on the ground. Add a handyman and HVAC person to your team and it should be pretty easy from there.
Join a local FB group of STR owners to get recommendations from.
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
1y
List on VRBO and Airbnb, get a great cleaning service to be your boots on the ground. Add a handyman and HVAC person to your team and it should be pretty easy from there.
Join a local FB group of STR owners to get recommendations from.
Atlanta · Member since 2022 · 710 posts · 640 votes
1y
managing remotely is a question that has been asked many times on here. if you search, you will find some great information. as has been mentioned, a great cleaner is #1 priority. Also, good handyman and then also get the phone #'s for emergency plumbers so that you have it on hand and dont have to search if/when a situation arises.
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
1y
what market are you in? Some PM's (like myself) offer a full service and a limited option service. Limited service offering can vary but you are splitting responsibilities leaving the possibility of REPS status as viable. I have a lot of investors choosing this option.