Duplex - STR & Full Time Rental

[Brandi Scharrer]

Looking at investing in a duplex where we would rent out one unit to a full time renter and the other unit we'd use as a STR. Wondering if anyone has success or failures with doing this today. Our reason is when we pass through town we'd stay in the one furnished unit for a couple of months but I hate to see it sit empty the rest of the year. How do the longer term renters feel about having a STR literally next door and vice versa? Anything you need to disclose to them? Thanks!

[Valerie Rogers]

Maybe your long term tenant can act as your property "manager" and be willing to be your eyes & ears on the ground when there are short-term guests visiting; be available if they should need anything, and maybe even act as your housekeeper. If you are able to find a long-term tenant who can be "invested" in the short-term business they might not be upset about it. You could give them a discount on their rent if they act as your local agent, or pay them a cleaning fee if they clean the unit for you. (I'd recommend a small discount on their rent to be "available" if the other guests should need assistance but pay them a separate cleaning fee when/if they clean the property since that is a pass-through fee anyway.)

Good luck!