Rental Property Investor · Marietta, GA · Member since 2017 · 131 posts · 101 votes
As many of you know, we recently launched our cabin in WNC for STR. We have been asked by a neighbor if we would consider donating a stay to a charity called WellRoot. It helps provide support services/housing for children in need. This is a Christian-based organization.
We have looked into this briefly and understand there's not any tax benefit to doing so. This would count against personal use for the year. We also wouldn't be able to screen whoever is staying.
We want to help, but I wanted to get some opinions from members on BP regarding this.
Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
5y
I would be reluctant to open my house, i.e. business, to someone I don't know, can't check out and have no insurance to cover any losses. Way too much to lose just to have a feel good moment. Better to just donate money to the cause than take the risk IMO.
Now, if there were a way to run it through VRBO or AIR and then Venmo them back the money?
There's probably a way to do this, certainly not the first time this has been done.
Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
5y
I would be reluctant to open my house, i.e. business, to someone I don't know, can't check out and have no insurance to cover any losses. Way too much to lose just to have a feel good moment. Better to just donate money to the cause than take the risk IMO.
Now, if there were a way to run it through VRBO or AIR and then Venmo them back the money?
There's probably a way to do this, certainly not the first time this has been done.
Rental Property Investor · Marietta, GA · Member since 2017 · 131 posts · 101 votes
5y
@Bruce Woodruff That's kind of what I am thinking. Not sure how to tie it in to the silent auction they are doing or what, but we'd be happy to donate a portion of some bookings to the cause.
I've done this on my OBX house. Offered a week in Oct. The auction winners actually paid twice the rental rate to support the cause. I had a PM at the time. Notified them, had the winners contact me directly for house questions. I felt very comfortable that a donor at a faith based charity auction would be a quality renter. Cash donations to the charity in lieu of would also certainly work.
I Love this idea. I have a short-term beachfront property in Hilton Head, SC that I would love to donate the proceeds for a 3-4 weeks a year ($30,000 value). Is there an auction site that you would recommend to list the property?
I Love this idea. I have a short-term beachfront property in Hilton Head, SC that I would love to donate the proceeds for a 3-4 weeks a year ($30,000 value). Is there an auction site that you would recommend to list the property?
Hey Torrey, I am an agent on HHI that specializes in investment property. Have you considered adding another property to your short term rental portfolio?