All Forum Posts by: Sarah Kensinger

I have no idea if Proper Insurance could help in that situation or not, but they are the only company I can think of that is unique enough to possibly cover a situation like that.

You're on the best track for a STR host and operator! Don't forget to always give guests an experience with great service and a clean home, they'll keep coming and tell their family and friends. Airdna and Rabbu is a guide, not the final numbers. My goal is to always outperform them, and with the thought process you seem to have I'm sure you can too!

Akron, Ohio seems to be setting up for a good STR market this year. According to Airdna Akron is in the top 25, even one place ahead of Cleveland, Ohio.

Anderson Advisors would be of great help to you and can walk you through every step it takes to set your entities up correctly. For us they suggested an LLC for the business, and a separate LLC for the properties. Since you're purchasing the property in Ohio it would need to be an Ohio LLC that is held by a WY LLC.

They have tons of free info on YouTube that would break this down for you. I would also suggest the free 45-minute call they offer. 

Can't say I'd recommend them as a guest since I've been very disappointed in the homes they manage. Of course, that means I've never used them for management. This thread is a couple months old but might give you the info you're looking for..... Evolve Info

If you're looking for help with a STR we service the Akron area. Feel free to get in contact if you're interested!

Yes, I'm right with you! Why spread yourself so thin when you can have quality over quantity. Not to mention less properties to keep up with. That is our goal even if we need to save longer. We tried getting a "cheaper" property but then would need to do a bit of remodel and settle for something we didn't exactly want. We're shooting for more luxury properties and decided it was worth holding back, saving more, and then buying what we really want!

Earlier this year we almost bought a condo and checked into insurance. We only had to get what they call "drywall to drywall" coverage since technically you don't own the outside. I'm sure an insurance agent can help you with the right percentages. 

You might want to check into Proper Insurance. If I remember correctly from a recent podcast I listen to, they cover mid-terms and are one of the few companies that do. Mid-terms are considered more of a long-term rental in most people's eye, but most insurances won't cover them because it's not a long lease but more of a monthly one. It's a bit tricky since mid-term is a bit of a combo of a STR and LTR.

If I remember correctly, Proper Insurance is one of the only companies that fills the mid-term rental gap.

Turno