All Forum Posts by: Collin Hays

I am sure the neighbors will love all of that.  Imagine a once lovely home that is now a fenced compound with "no trespassing" signs all around it, with cameras everywhere.  Why not go ahead and chain a couple of rottweilers to the mail box while you are at it?

It can be an issue, even if your area is zoned for it.  Neighbors that own high-end homes and condos in exclusive resorts might not appreciate living next to a house-turned-hotel.  Of course, if the zoning allows it, there is nothing they can do to prohibit it, other than make the lives of you and your guests miserable.

Although this is certainly not your situation, I continue to be amazed at property owners who are brazenly forging ahead with a STR in an area that most likely isn't zoned for it. As if it is a mere inconvenience to them. It is against the law and completely disrespectful. I happened to be a GUEST at a house such as this in Lisle Illinois in the summer of 2019. I stayed at a house that was clearly in a residential subdivision, and I could tell from the body language, including one middle finger, that neighbors didn't appreciate it at all. I left after one night and stayed in a hotel because it was uncomfortable and I felt that the host was completely disregarding the privacy of her neighbors, if not her local zoning ordinances.

Your neighbors have three primary fears:  1)  A fear of a compromise in their privacy and quiet enjoyment of their own homes, 2) A fear of a decline in the values of their own homes because you let yours start looking like a trailer house, and 3) Ted Bundy being a guest one night.

Probably the best thing you can do is to go and actually meet the neighbors, shake their hands, assure them that you are going to keep the property top notch at all times, you are going to carefully and meticulously screen your guests out of respect for your neighbors, and, most of all, FOLLOW THROUGH and be a good neighbor.  

I have one vacation rental that is in a predominantly non-rental area, though there is no zoning restriction against my rental.  I always go above and beyond to be a good neighbor.  I keep the place spotlessly clean, yard kept, and everything freshly painted and in good repair.  I also regularly communicate with the neighbors.  That doesn't mean they like my situation necessarily, but they have come to realize that I mean what I say, and that I am no threat to their safety, privacy, or home values.

Several thoughts here:

1. Your duplex very well could yield more income as a STR than a LTR.

2.  You probably don't need the management company to accomplish that.

3.  It is true, however, that a good property management co. can often "net out yield" what you can on your own - my experiences have proven it.

4. It is highly unlikely that local zoning allows your duplex to be utilized as a STR. Sorry to be a wet blanket. The management co. doesn't care about this because they aren't the ones on the hook for citations and the flack from your neighbors. You are.

It all depends on your deal.  If the seller has the patience to let you do all of this, great.  However, in a seller's market, the seller may end up saying "no big deal...I've got other people ready to close tomorrow."  I tend to buy and sell on an "as is where is" basis.  I try to do my due diligence before making an offer.  I also expect to find issues to fix on any used house that I buy - just part of the deal.  

I just purchased a few acres of raw land for development. I did the due diligence and then made the offer. I told the seller I could close in a week, which gave me some negotiating room on the price.  

Of course, if you are borrowing the money, the lender often requires a termite inspection and perhaps a few other items on a rural property (flood plain, etc.).  I doubt water and sewer are going to be a part of this, however.  And in eastern TN, getting water is pretty much a slam dunk.  And if you ever did have to work on the septic, it's highly unlikely to be more than a few $ thousand. 

I probably wouldn’t worry about it. 

It depends on where in Sevierville you are.  You are likely only going to have one provider "Con cast" or Charter, both of which are pretty sorry outfits.  Any time you have an issue, you'll spend an hour searching for a phone number that they've buried somewhere deep in their website.  When you do finally reach someone, it will be "Chris" from Bangladesh, who is fresh off of his 2-hour English course.  Always a delight though.  His favorite word is "unfortunately".  

You might also see if there are alternative internet providers where you can get TV through the internet.  

DING DING DING we have a winner!

You could always have pay phones!  While you're at it, install some of those coin operated massage mattresses?   

Precisely why all of our phones are rotary dial.

TVs are super cheap.  Get a 60 inch one and you're golden.  I still have a few owner clients that have the old square TVs - too tight to go to Wal-Mart and get something decent.  Penny wise, dollar foolish.