Updated about 7 years ago on . Most recent reply
Turning an STR into a Traditional Rental
We have been hosting an Airbnb for over a year and have cash flowed more than the home would as a SFR. However, the work we have to do (we do the turnover most of the time), along with the aggravations that come with dealing with the general public have made it not worth it any more for us, and we'd like to convert it to a traditional SFR. We have a property manager for another SFR in town and they said furnished rentals are too much trouble, so they won't handle it if we leave it furnished. Liquidating the furnishings and homewares of an entire house seems like a major PITA, so we'd like to make it as painless as possible while still recouping some funds. What would be the most efficient way to do this? Selling piecemeal on Craigslist? Hiring an Estate Sale company? Organizing a garage sale? Has anyone done this before?
I feel the answers to my current concern are obvious, but I thought I'd ask the community to see if anyone has an idea I hadn't thought of. Thanks in advance.
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#3 Short-Term & Vacation Rental Discussions Contributor
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#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
I feel your pain! STR are not for everyone for the exact reason you listed. Dealing with PEOPLE on a day to day basis can be very stressful and it is unfortunate when the bad seeds come along... and they do come along. I self manage 5 vacation rentals remotely. I enjoy it and the returns are fantastic! But for now I'm sticking with the 5 and have moved back into the LTR space.
I've never tried to rent a furnished LTR but I would imagine that would come with many of the downsides of a STR so I think I'd also get rid of the furnishings.
Criagslist is not what it used to be. Items will sit there for long periods of time to the point where I generally find it's more cost efficient to give them away free or even pay someone to haul them off just to get it over with. The FREE section on Craigslist is still popping. Other than that I don't have much luck with furniture or appliances. Throw your stuff on there for a day or two for a reasonable price and see if you get any action. Also try the Next Door app. Use TAKL to pay someone to haul stuff off.
Good luck!