All Forum Posts by: Rosa Regier

I would check what is common in your area to assure your market position. A range, dishwasher & refrigerator are common in my market. If a prospective tenant asks for a washer & dryer, then I buy them & add a little to the monthly rent. It's a win for both!  

If you're concerned about repairs as the "optional" appliances age, then add that to your lease. For example, you might be willing to fix a washer if it costs X amount but not above.  If perhaps the washer is old, you might simply state that you will not replace it. It truly depends on your market. 

FHA loans require that the owner occupy the home so this won't work for a rental property. You'll need to look into an investment loan or DSCR loan. There are lenders here on BP that can provide you with options. Good luck!!

Check your state as it may require a license to be a PM for someone other than yourself.

Perhaps keep the homestead exemption on the higher valued property if possible. I can't help on the duplex question.

Good point @Luka Milicevic! The added cost will be there regardless. Sedona requires a 60-minute response time either in person or phone. I can handle the phone response remotely, but I'm still required to name a local person.

Thanks @January Johnson!  My local nextdoor app is filled with people complaining about neighbors, politics, noise, the weather, etc. I rarely get good information/referrals using it locally. It sounds like it's better in other places.

@Naz Hossain thank you. I aspire to add on to my portfolio to the point that it sustains an in-house PM.

@Michael Baum thank you. Taking inspections off and adding HVAC service contract.

@John Underwood thank you. Luv your succinct responses and will have a more detailed conversation with the cleaner. Yes, I'm required to have a local emergency contact in AZ.

@Eliott Elias thanks. I'll try this out especially if I'm already paying for cleaning service.

I'm in the process of figuring out a team for a remote STR-I'm new to the STR world, been playing in the LTR realm.

I know I need a cleaning crew and repair crew (at least 2 in case one is busy). The other person/role I need is the local emergency contact. I'm thinking of asking a repairman/handyman person to fill this role. I'd pay them a monthly fee on top of any repairs. My question is what else do you have this person do? Weekly inspections? Change air filters? Or is a std monthly fee just for them to be available for an emergency situation? 

You can't renew a lease with only 1 tenant. You could however, write a brand new lease with only 1 of them. When you renew the lease, the security deposit stays intact. In this case, you'll need to figure out what happens when it doesn't. This could get messy, but maybe there's some advice from the BP fam. I second Randy's advice that you need to ensure the remaining tenant qualifies.

For the owner's part - they need to provide notice as outlined in the lease contract. Either to offer a renewal or terminate. Put a deadline on the response so you know what you need to do to move on from the drama.

My lease contract requires full payment with 1 check. The roommates we've leased to have never had an issue. 

When you purchase a condominium, you are purchasing the interior airspace of the unit within the structure and typically a percentage interest in all of the common areas shared with the condo owners. The land is not included in this type of purchase. I believe, you would use the full purchase price.