All Forum Posts by: Mike Shemp

You may have to adjust how you market it for the STR market if it's a C+ neighborhood.

For example people on the STR rental platforms may not consider it for vacationing, but it may make sense for working professional or people looking for longer-stays in Cleveland or who want a more authentic experience of Cleveland.

Mike

We do all of our own content creation for our channels on Tik Tok, Intagram, and Facebook.  We have received plenty of bookings through these methods, and we're not professional marketers or photographers...we're just documenting and putting our story out there in an authentic way based on the advice from Gary Vee.

We have had a lot of photographers reach out to us and ask to stay for free in exchange for pictures or a blog post, but we have turned them all down and no regrets so far.

Mike

Hi K-Man,

We found the best place to find handyman, cleaners, electricians, plumbers, etc. is to find the Facebook groups for home owners in that market and ask the people there.  This should be easy to do if your market is more of a vacation destination.  If your market is not so much a vacation destination, then you may want to try HomeAdvisor or Angie's List or even try messaging other owners on the short-term rental platforms to see if they will tell you.

Hope that helps.

Mike

Hi Denisse,

You may want to contact the insurance company you plan to use, and ask them what kind of an inspections are needed.  There are insurance companies that specialize in short-term rental insurance that covers the home also, and there are insurance companies that offer insurance that provides some coverage for short-term rentals, but typically not as much as one that specializes.

For our 3 short-term rentals, we use one of the insurance companies that specialize in STRs because we found they provide better coverage than the standard insurance company.  It is more expensive, but we feel it's worth it.

Hope that helps.

Mike

Just some thoughts to consider...all of which you should discuss with a CPA/attorney. I'm just taking a guess, but if after your purchase the home, you deed it over to a trust, and your children are in that trust, then would the STR rules that you were able to take advantage of now also apply to everyone in the trust...including your children?

Mike

I can't say about Atlanta specifically, but generally you'll want to check the local municipality web site that the property resides in for any short-term regulations, as well as the HOA if the property belongs to one.

If you don't see any regulations listed on the web site or in the HOA rules, I would contact the town office or HOA and ask them what the rules are regarding short-term rentals, and preferably do it via email so it's documented.

Mike

@Michael Lewicki - Thank you for the info!

I believe there are also different rules related to evicting a guest (short-term) vs. evicting a tenant. STR do require more work, but it can be minimize with a good team (cleaner, handyman, or PM) and automating the processes.

Mie

What are everyone's thoughts on the Wellsboro,PA / Grand Canyon of PA area for a short-term rental?  Any thoughts?

We've had black bears visiting both our properties in the White Mountains quite a bit.  This pic was taken a couple of weeks ago.  My wife looked up and he was staring at us through the window.