All Forum Posts by: Jacqueline Mee

Hi Jayson, 

First, review the lease terms that are in place to understand the current agreement with the tenant. If the current lease agreement runs through June 2024, the tenant has a right to stay until then. RSA 540:2 (see below) lays out New Hampshire Law as it relates to owner/tenant rights and termination of tenancy. Good luck!

https://www.gencourt.state.nh.us/rsa/html/lv/540/540-mrg.htm

Hi Camden, 

Feel free to reach out! I am based on the seacoast and work throughout Southern New Hampshire. As you probably know, there are different complexities when navigating foreclosures. Happy to advise. 

Hi Richard, 

In order to successfully utilize FHA financing on the purchase of a multifamily there needs to be some compensating factors that make sense for the underwriting scenario (i.e. are you relocating for work, are you relocating for family needs, are you looking to become NH residence for another purpose?). Are you planning to rent out your current residence that you could produce a lease agreement for? Underwriters are looking to clamp down on occupancy fraud so you'd need to make a compelling case for the move. As investors, it's not unusual for us but most people don't generally move from a nice single family into a smaller multi-family so underwriters will flag this. Have you looked into the new 5% down conventional on multi-families that rolls out in a few weeks? It might be easier to get approved going that route.

I'm a local investor and New Hampshire licensed agent. Let me know if I can connect you with a local lender to chat through these options? Happy to be a resource for you if you have any questions! 

@Valerie Budd Thank you so much for your insight here. Is there a PMS that you use/would recommend? 

@Kyle Lacasse Thanks, Kyle! Appreciate your insight into NH specifically. I did some research on this and read contradicting things but mostly that there are no licenses required? Fortunately, I am enrolled in courses to become a Licensed Real Estate Salesperson. Regarding the taxes, Airbnb usually collects state Meals/Rentals on their end. Are there additional collections we need to be making? Once again, appreciate your insight!

@John Underwood Hi John, the state I live in (New Hampshire) doesn't require certifications to manage rental properties. It is my understanding that this varies from state to state. 

My business partner and I started a property management company this past year after managing a friends airbnb/VRBO. There was a little bit of flexibility in terms of how we collected money with our friend at the time but as we have received inquires to manage other properties we are trying to find the best way to split payouts with property owners. 

Currently, the property we manage is listed in the owners airbnb account with us as co-hosts. We collect a 20-25% management fee + cleaning fee which we pay directly to the cleaners from our business account. Airbnb/VRBO payouts have gone to the owners bank account and then they write us a check for every reservation that includes our 20% + cleaning fee. Logistically, this creates too much work for the owner to have to write checks constantly and we are trying to make their life easier. It worked with our friend but we realize it won't work moving forward with other homeowners.

Looking for recommendations on what others do when property managing others STR? Here are a few possible solutions we have thrown around:

Option #1: Airbnb allows for split payouts. The shortfall of this is that they do not allow you to designate where the cleaning fee is paid out. The cleaning fee is lumped into the total payout. Logistically, this makes it hard to charge a flat 20% as we are collecting a portion of the cleaning fee and they are too. Who pays the cleaner then? Also, not every hosting platform allows for split payouts and it will be tricky to manage different platforms with different payout options.

Option #2: We collect the entire payout and list properties on our business airbnb account. We pay the property owner their portion monthly. This seems the most seamless 

Option #3: I haven't found one but is there a hosting tool that collects payments and allows you to choose how to split it up and automatically payout property owners? 

Appreciate any and all advice or insight into processes others have found success in! Thank you for your time.