All Forum Posts by: Isaiah Wilson

@Isaiah Wilson - @Bonnie Low is absolutely right - you essentially just have to take a standard lease agreement like you would have with a LTR tenant and adjust it for the parameters of the MTR tenant. This will include shorter lease term, potentially different utility criteria, etc. Add last month rent in there if appropriate or if y'all agreed to it. Potentially more security deposit given the shorter-term nature of the stay.

Most states, NC for sure, don't differentiate MTR from LTR. Anything longer than 30 days is generally considered "LTR" but I'm not an attorney nor do I play one. Check with the specific county for that language and any ramification that may have.

@Isaiah Wilson - I have a medium-term rental lease that I can share with you for free... that said, I totally agree with that you should use a state-specific lease. Furnished Finder has an area to pull this, but last time I checked, it didn't load. I pull our Colorado lease from Zillow Rental Manager and then modify it to a midterm rental lease. By doing this, you make sure you are protected on the state and city level. Also, if you have an HOA just make sure, their specifications are also included.

When you get started, I recommend being on Airbnb and Zillow to start. That's where I've personally had the most luck. 

Hi, Isaiah. By contract, most people mean a lease agreement. For any reservation over 30 days you really need to have a state-specific lease in place to establish the lease terms and protect you from a potential squatter situation. There are plenty of programs out there that will allow you to create a state-specific lease with all of the required language for your state and will also let you modify it to add your own special terms, like your parking requirements, quiet hours, how trash and utilities will be handled, etc. I use Baselane as my all-in-one banking and bookkeeping platform. Through Baselane and their partners I'm able to run the guest background checks, draw up a state-specific lease, set up rent collection and manage all of the property financials. You might look into it since it sounds like you're branching out into more areas of property management.

Hey Isiah - come out to BP Meet-up hosted by everyone's favorite - @Shane Lafleur - at Carolina Ale House downtown. Link to the meet-up below. Happy to chat bout that you've got going on and how we can work together. Great place to connect to some do-ers in the market as well.

https://www.biggerpockets.com/...

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Hi Isaiah, glad to have you as a part of this awesome community!

Welcome to the site @Isaiah Wilson!  It's great to have you here.

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Wishing you the best!