All Forum Posts by: Sarah Kensinger

Yes like @Steve Vaughan said there is a way to rent a STR that's in your personal name to your management company. We almost did that earlier this year on a property per our business attorney's advice/direction.

Here is the brief video explaining the process of leasing to an LLC....Ultimate Leasing Strategy. I'm not sure if your structure is set up correctly, and this is for LTR, but the process would be nearly the same. When the strategy was suggested to us it would have been the same process, but the property would have been in our personal name instead of the LLC, and our corporation would rent the property to sublet it as a STR.

I would recommend having a real estate attorney help you work this out correctly. It's amazing all the different things we can take advantage of, but some direction to make sure we don't miss anything is important! The group that made the video, Anderson Advisors, is who we use and really enjoy working with!

The entire STR market and drive for what guests are looking for is design and experience. That isn't really anything that new.

It all depends on perspective; some prefer regulations because there's less competition and others run as far away as possible.

There's a number of people that would love to jump on this opportunity! Hopefully you can find someone shortly. I would suggest making sure you have a good lease for both sides. 

Sounds like a PMS would be of use to you...some you could check out are Hospitable or Hostfully.

Finding a property that needs work can have advantages because it helps to add value to the property quickly. Turn-key is just that turn-key and when it comes time to sell or maybe refi a couple years later the returns won't be as good. 

I can't answer your questions completely, but if you go to Anderson Business Advisors and Clint Coons Youtube channels they talk about all of this and how to utilize it for your taxes. There are tons of valuable content to watch and learn from!

For Airdna you should have the purchased data for the area you're looking at. When you compare comps on the purchased data, they should have at least 300 days available in a years' time, and not have two listings on the comp list. That means the person is not using a PMS and even though some think it's not necessary it messes up the data. Also, it's best if the listing is on Airbnb and VRBO. 

Following those rules helps to give a pretty accurate number for a property. 

Another con to add to the Houston list...STR regulations are being talked about and petitioned for by local homeowners.