All Forum Posts by: Shannon Strickland

Hey @Shawn C.,

My real estate attorney is very aware of squatters' tactics in Virginia, which is why we were advised to collect rent weekly. So far, we have only hosted traveling medical professionals (TMP) while we live in and rent out part of our single-family home (house hack). Some TMPs told me they were tired of paying online travel agency fees and were happy to find Furnished Finder.

Hi @Shawn C.,

I have been using RentRedi (RR) to manage our only medium-term rental (MTR) property for over a year. I recently considered switching to KeyCheck but decided to stick with RR for two important reasons: 1) RR allows for weekly rent collection, which is recommended by my real estate attorney, and 2) RR has lower credit card processing fees for tenants. My local real estate attorney made significant changes to the state-specific lease I originally had to accommodate the unique situation of house-hacking and county laws. I was shocked at what I didn't know and am relieved now. Looking back, I'm grateful that Ashley Kerr recommended RR during the Rookie Bootcamp, and that I followed her advice. I'm also relieved that I hired a local real estate attorney to help create a county-specific, legal MTR agreement for our house-hacking situation. In addition, the attorney informed me that short-term rentals (STR) are illegal in my county, so that will not be an exit strategy for me. As a result, my Furnished Finder calendar looks promising for travelers seeking a genuine MTR experience in my area.

Hopefully that helps.

This has been an insightful thread—thanks. OwnerRez has helpful recorded webinars with both platforms, where they give suggestions to improve ranking and conversions. Five weeks ago, I made most of the changes VRBO suggested, and the next day I got one booking, but I haven’t had a booking from them in four+ weeks now. That was my catalyst to add Airbnb this week. It looks like I’m in famine mode in the slow season, which I didn’t think would arrive until winter. I’m very much looking forward to spring!

The day this thread was started, "Thanks for Visiting" released an excellent podcast, #389, with tips to reduce risk. It's one of the few that I've listened to twice.

True. I only operate 1 STR and have only had 14 stays. After my doorbell camera alerts me to check in, I look to see that it's the same person. I heard a podcast mentioning a company that specializes in this called Super Hog. When I have a direct booking website, I will check into that business.

I also operate 1 MTR and RentRedi collects a photo of the ID with the person also physically in the photo and then Stripe verifies the biometrics’ authenticity. I’m sort of like a bank teller looking at an ID.

OwnerRez provided a way to collect a copy of a government-issued ID during the Rental Agreement e-signing. So far every booking guest's ID address matches their VRBO physical address.

@Zac Lindquist

No VAs are used here; I think I will self-manage as long as possible.

My occupancy would be close to 100%, but because of house hacking, sometimes I choose a gap between TMP contracts so family can visit.

I only list on Furnished Finder (FF). It is easy to find your comps there for quality and pricing.

Until an agreement is signed, communication is solely through FF. After signing, communication is through RentRedi and sometimes email.

@Zac Lindquist

Although my MTR is not in your location, I encourage you to listen to the Bigger Pockets Podcasts on LTR to MTR and read the book 30-Day Stay, especially since you have time on your side. That is how I got started.

I also encourage you to listen to the Thanks for Visiting podcast because they are in your city.

I hired an online interior designer and gave a per-square-foot budget. Then I purchased from Amazon, Wayfair, Etsy, and Costco. Consider saving up $10-$20 per square foot over the next year.

Apply the Enemy Method to find and study your comps. With OSU having a medical school, it seems like MTR will be a good pivot.

Not knowing exactly what you want to know about running operations, I will say that I created an evolving SOP that I follow that starts with a generated lead to after check-out.

My county is Very concerned about “occupancy and overcrowding”, so they made an ordinance that says, “A group of not more than three (3) persons not related by blood or marriage living and cooking together as a single housekeeping unit.” It would be wise for you to research your local occupancy and overcrowding ordinances.

@Robert Schwenkler

I only operate 1 STR which began Memorial Day weekend. Every week OR has an overview and Q&A webinar that I recommend.