All Forum Posts by: Brandon Vanderford

I second Brad. The most high-end MTR that I manage (worth approx 1M) is currently being rented for six months by folks who are remodeling their home. Close to a 50K reservation. 

There is money to be made with traveling health professionals, but do not limit your target exclusively to them. 

Probably 50% of my bookings come through Airbnb, 25% through Furnished Finder, and 25% through direct bookings. I would recommend trying Furnished Finder; it does not cost much to get started. But you are unlikely to get as much traction as you will on Airbnb. 

Hey Edgar, if you are a member of the NC Association of REALTORS® then you have access to Standard Form 410-T, which is a pretty thorough rental contract. That might be a good start.

To me, that sounds like a very weird proposal. I would be wary. 

Evidently, your PM thinks that your property is worth more than his own, else why would he want to do this trade? And consider all of the closing costs involved. 

What is he hoping to gain?

Also, trading one dollar coin for two half-dollar coins does not constitute "expanding your portfolio," in my honest opinion.

Sounds very sketchy to me.

"Cash for keys" is common for encouraging a prompt move-out. If I were in your shoes, I would pressure the PM to offer the tenants a financial reward for vacating the property sooner. Since this was their error, it seems fair that they would cover the cost. 

You cannot force them to do this, but if you are working with a reputable company, they should understand that this is a significant mistake, and be willing to cover the costs of it. 

Hey Zeke, I do not personally know any PMs in Kansas City. But I am sure that there are some good ones here on BP. Not all PMs manage MTRs, of course. But you might start by doing a PM search on NARPM. https://www.narpm.org/find/pro...

I have encountered a few who did not. But most PMs handle evictions. Investigate what (if any) additional fees that they charge for handling evictions, and find out whether they go to small-claims themselves, or hire an attorney. An attorney can cost you a lot, and winning in small-claims is simple enough (in NC, at least).

You have nothing to lose by listing it as an MTR for the two months.

In my experience, many Furnished Finder tenants (mostly travel nurses) are looking for stays of 90-180 days. Furnished Finder will also cost you approximately $100 to list. Airbnb will not cost you a dime until you get a booking. So if you only picked one platform, I would suggest Airbnb (set a minimum stay requirement of maybe thirty days). 

@Adam Martin nailed it.

Legally, you are not required to pay a finder's fee at this point. However, evaluate the value of this relationship to your future business. Especially in real estate, it is a good idea to never burn bridges. This is largely a word of mouth business. You do not want it to appear to other agents that you are "stiffing" this acquaintance. 

I price Airbnb listings just a little higher. Basically enough to cover the 3% hosting fee. Overall, the Airbnb stay will be more expensive because of the platform fees. But either way, my clients will earn approximately the same amount. 

Airbnb rates are easy to change. Perhaps play around with the prices over time to see what your market allows. If you can make more on Airbnb than Furnished Finder, then that is great. But that has not been my experience.