Property Manager · Lenexa, KS · Member since 2019 · 18 posts · 3 votes
Happy Wednesday! I'm transitioning from turning my own LTR into a STR in the KC metro. I was having conversations with various friends about what I'm doing to self-manage and they started asking if I'd manage theirs! So here I am building a new business. I've put together a good tech stack to launch from. I want to use a rental agreement. Anyone have a template or an outline they'd be willing to share?
Property Manager · Lenexa, KS · Member since 2019 · 18 posts · 3 votes
5mo
Great question! I appreciate the concern to be compliant. I'm working on my local business license today and researching the need for further licensing. My initial ChatGPT convo doesn't lead me to think I need more for Kansas but I'll continue with my city. For insurance I just started that conversation with my agent.
Seeing as you have never managed a STR before (I am assuming) you are essentially taking over others investments and working on their behalf. That's real money and you want to make sure everything is spelled out in a proper rental agreement.
Also, get insurance for operators as well as an umbrella policy.
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
5mo
I would consult with a Real Estate / Business attorney to check compliance and make sure your rental agreement is good for KS. Mine here in FL is probably fairly useless for you.