All Forum Posts by: Brent Rieman

@Max T.  building is leased so another units is not an option .    @Nate Zachrich would definitely do 30-60 day notice. I did think about a move out assistance payment.  Im not worried about the tenant damaging anything and expect they would receive their full deposit back.  Im interested in what your seeing as drawbacks to the short term rental.   My property is unique, its lakefront with a beach.  I think I could do well with it on airbnb, a neighbor has been doing it and is cleaning up.  It could be easily flipped back to long term rental if the city came down on airbnb but I dont see this city doing that.  

Im considering not offering a lease renewal with a good tenant.  The tenant has been in place since before I purchased the building 3 years ago.  They have been great, accommodating, pay ontime and have only caused me a little headache.   You may wonder what sane person would do this.  Well were getting ready to do a large renovation on our house and will need a place to live for 5-6 months.  This is the unit in my building(8units townhouse style) that, 

1- has a lease ending in the timeframe we need,
2-is most desirable unit in the building, its a larger end unit with alot of privacy. 

I have alot been kicking around the idea of turning one of the end units into a short term rental and after we move back into our renovated house, this would the perfect unit to do that with.   I have been very accommodating with the tenant over the years, they have had some health issues and have continually asked for 3 - 6 month lease's.  The conscience in me says dont be a d!$k but on the flip side, this my property, I put myself and my family through tons of stress and late night projects to purchase and own it, and if this it what I need from it why shouldn't I.

I have 2 tenents pay upfront for a year.  Never had an issue. One is a lady who is on the 3rd year doing it.  She just doesn't want to worry about it.  The other is a guy who only stayed one year but i never had an issue with.   Just have the lease say the term is for one due in a one time ppaymen of ***