joint ownership of a rental property
Does anyone have suggestions on the best way to rent a shared vacation rental home if one owner wants to use/stay in the property more than the other owner?
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John Underwood
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
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#1 Short-Term & Vacation Rental Discussions Contributor
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You need to have a written agreement on how to split costs and profits based on you and your partners usage. If you don't put it in writing you may have a disagreement later.
I self manage easily using Homeaway and Airbnb. The key is a dependable cleaning person or company. I found a lady on CL that is priced right and does a great job.
If you end up using a PM they can make a VRBO unprofitable and may want you to pay them a commission to use your own place!