All Forum Posts by: Andrew Bosco

Highly recommend Simplified Management/Rentals. They help with Boston Housing. It's good to know your full coverage and protection. 

I lived overseas and can confidently say there is no good "background check" system. That said, you can collate other useful info like co-signors and their references to their program in school etc. I would just make my lease incredibly defensible. There's no way to run a "global check". I would try to look at their social media accounts to get a good idea of whom they are or portray to be. At least, that is what I did when I lived in SE Asia and rented a few spots. 

As others have said, include it all in the rent. That said, I would 100% put a cap in the utilities. Some tenants will leave windows open with the heat on. You should include the verbiage to protect yourself @Jamie Smith

Turno for the win! or hire direct 1099s. 

Hey all, 

How would you set this up?

Background: I am scaling up an Airbnb Vacation Property Management Business. The plan is list 10 of our units on Airbnb (we have current PM systems, hospitality, cleaners and maintenance techs in the area already). These are owned by the owner of my property management company (I work as the head of the AirBNB side). We plan to list the 10 under the property management company AirBNB account. Additionally, I have other local owners that want our company to manage their vacation rental. Lastly, I have a current owner (who is a partner to the owner of my property management company) who is already a co-host for one of his rental units in the area. Ultimately, we will have 10 listed units by the owner of the company, one unit from a co-owner of the company and bring on to manage other external owners in the area. 

My plan: I plan on making the AirBNB account under our property management company name at a high level. Then, create a "team" to help manage this under AirBNB. I'll have the other owner with the one unit get rid of his co-host and instead make a team to add me to manage it. That way, he doesn't lose his reviews + can keep future bookings. 

Future plan: Use a PMS such as Hospitable or Guesty pending what we need. 

Thoughts?

Hey there, 

It can be a complicated question. More of an art, than a science. 

Try this out: underwriting standards.

https://docs.google.com/document/d/1Tk9Uxt7Q0_HJV8KL7F_GBm13...

Consider seasonality, off season vs. in season. etc. Always run numbers as LTR. Combo STR/MTR for a big win.

As Nathan said, for an MTR - expect their rate to be 12-20%. just be mindful of such!

 Hey Brett! I strictly work with investors and these are common questions! Here's my underwriting standard list for free. Use it in conjunction with BP! https://docs.google.com/document/d/1Tk9Uxt7Q0_HJV8KL7F_GBm13...

The biggest thing to remember when house hacking is LOCATION trumps all, then living below what standard rent is and / or rent free/making money. 

I would get a lawyer involved and have clear documentation with the town zoning/permits. You want all that to be traceable!

@Jamie Banks seeing similar trends in the NE. Boston is a continual hub, but the stipend amounts have changed drastically, which impacts housing demand by us locally. I'm seeing a strong uptick in remote workers needing affordable housing + medical professionals around major hubs.