All Forum Posts by: Jeffery Wilen

Completely agree with the no last minute from locals, and giving out the address. 
We do accept last minute reservation from traveling guests, but that’s for a location that isn’t purely a vacation destination. We’re just a short distance off the interstates which makes it conducive for travelers looking for an overnight. We’ll take those stays to fill an open night here and there. 

We use a Schlage keypad lock in our building. It’s been very reliable with no issues. Batteries last a long time as well. 

Pretty sure this ordinance was just poorly written. They’re not using VRBO to refer to the company “VRBO” but rather any residentially zoned properties being rented as a vacation rental. 

Sounds like the long term fix is to put in an electronic auto lighting fixture. I’ve found the best solutions to most of these “guests can’t figure out …” issues is to automate or eliminate them. Long term it’s cheaper than sending someone every time and less headache as well. 

As John U stated, it shouldn't be an issue.  

Everything about guests should be documented in your long term lease agreement (over 30 days).  Also part of their standard renters insurance policy. You currently have tenants, not guests, there is a clear delineation legally between them. Moreover, you don't want their guests to become tenants as they then have tenant rights rather than guests and they aren't on your lease document.

This definitely is different for STR stays (under 30 days) since they guests carry no policy and everything is covered under your policy. Hence one of the reasons to have specific STR insurance, not just landlord insurance.

@Ernest McNeil

Your cited article is specific to PG county, not Maryland as a whole.  I’m not an attorney, so this isn’t legal advice. The way I read that article is in PG county you’re limited on rent increases to 2.5% max and if your tenant can prove loss of income because of Covid no increases. Also, no increases until 90 days post declare emergency by the governor. These limitations only apply to existing tenants. 

No restrictions other than those in place pre 2020. It’s county and city specific as to what’s allowed. 
We are only raising on new leases at this time. But then we also underwent a renovation program and 70% of our leases are 2 years old or less, therefore pretty much at market. 

@Ryan Heltemes

Have you looked at Titan Engineering? They have a Cost Segregation options where you can do much of the work. We used them for a 7 unit bldg, made the price worthwhile for us on the smaller building. 
Feel free to reach out if you have any questions. 

We ship directly to the cleaner, no arranging pick up needed. It arrives at their house (individual) or place of business (company). It is appropriate that they know it’s coming, but they should already know, as they’re who told you that you need supplies. Really couldn’t be simpler. Be sure to arrange beforehand where the supplies will be stored. We store in a locked closet on the premises. Also have an off site storage for common items used at several units, our cleaners have access to this to storage to replace or collect as needed. 

@kameron Wilson

I could be wrong, but I'm guessing that your intention is to live in one unit, that's why you're thinking a residential loan.

As @Taylor L. state think big, don't try to move a property down from commercial to residential.  Find a residential property instead and do both.

As an investor, you should always be seeking "highest and best." Taking that property from a 5 to a 4 unit is not using it as its "highest and best" use

just my $.02