All Forum Posts by: Laura Casner

Does anyone know if it's possible to clear your rental history on Zillow? I know sale price is public data, but rental price pulls from zillow rental manager. My rental price has been all over the place because we used to include utilities and have changed lease terms. None of that shows on the rental history so it looks like the price has tanked and has attracted a lot of bargain hunters. 

@Michael Baum - for sure!  I think I will have mostly weekend or long weekend stays and am planning to go all out on luxury targeting people in driving distance for stay-cations and splurge weekends so price point will be higher than most around which I am hoping will bridge the gap in higher occupancy. 

For those asking about location, it'll be in the knoxville area (potentially smokies or adjacent mountain accessible areas) and will be doing several smaller 400-900 sq ft units (new builds) on a 5-10 acre lot, and I will be bringing the great styling, photography, marketing, and amenities :)  I was actually assuming worse vacancy in the beginning, but this is reaffirming my feeling that what is hurting is large and dated rentals. 

Hi! I'm putting a business plan together for a short term rental and I can find plenty of data from comps on projected vacancy rates of established rentals, however, I know I can't expect to come out of the gate with 50-60% occupancy. Is there any rule of thumb for occupancy as the business grows from year 1?  How have others projected this? 

 @Daniel Judge What is your land like? It's heavily wooded where I am so I was thinking an acre between would work at min. I am leaning towards 5 acres for 3 homes though. Did you borrow money for your build, and if so, what type of load did you get for multiple units on the same land? My commercial loan conversations aren't going great.  

 Good to know, thanks! I feel the same, with small children who are used to being in their own room. I was thinking of one unit catered to families with two sleeping areas and a creative use of space. 

 Thanks for the site link. I'm going to see what I can find there. I already like the fact that it has applicable filters!

 Yup, like Rober Ellis said - I'm selling solitude and privacy. I spoke with a lender today who said their bank wasn't taking on any more commercial loans for STRs unless you had really deep pockets. What types of construction loans have y'all seen for this?  Any particular type of bank more likely to lend?  

@Carmen Veurink What's your definition of a tiny house in sq footage? I might be misusing the term.  Do you think there is a sweet spot gap of any particular sq footage or br/ba count?

I can attest that there are a lot of bed contractors in Knoxville. I think I've hired all of them lol. So if you are good and trustworthy then you will likely do well!