All Forum Posts by: Vance Payne
Vance Payne has started 5 posts and replied 16 times.
Post: Looking for a good property manager in Denver area that does Rent-by-the-room
- Investor
- Westminster, CO
- Posts 16
- Votes 9
Post: Looking for a good property manager in Denver area that does Rent-by-the-room
- Investor
- Westminster, CO
- Posts 16
- Votes 9
Quote from @Koren Lavi:
Hey @Vance Payne, Andrew Tierney with Orderly does property management. He manages an Airbnb for me, but i'm sure he could do mid-term/long-term for rent by room. That would be cake compared to Airbnbs 😂
I can get you his info if you would like!
Hi Koren, I am looking for someone with specific rent by the room experience so I think I am good for now. Thank you though!!
Post: Looking for a good property manager in Denver area that does Rent-by-the-room
- Investor
- Westminster, CO
- Posts 16
- Votes 9
Quote from @Dan Guenther:
Hey @Vance Payne - I offer rent by the room property management up North so I can't directly help you out down in Denver but I have a contact for you down there. Shoot me a message and I'll help you out.
Thanks I will message you!
Post: Looking for a good property manager in Denver area that does Rent-by-the-room
- Investor
- Westminster, CO
- Posts 16
- Votes 9
Post: Looking for a good property manager in Denver area that does Rent-by-the-room
- Investor
- Westminster, CO
- Posts 16
- Votes 9
Quote from @Clayton Silva:
While I do not know anyone that would be a good fit, may I offer a piece of unsolicited advice from a lending perspective? If you ever plan to refinance the property or tap into the equity down the road to purchase more property, I would strongly suggest looking into a master lease. Have one tenant sign a large lease for the whole house and then let them sublet the rooms. This makes the process much cleaner from a lending guideline perspective and will save you a lot of headache down the road. Really hope this helps and hope you find an outstanding PM!
Thanks for the tip! I will keep that in mind!
Post: Looking for a good property manager in Denver area that does Rent-by-the-room
- Investor
- Westminster, CO
- Posts 16
- Votes 9
Quote from @Clayton Silva:
While I do not know anyone that would be a good fit, may I offer a piece of unsolicited advice from a lending perspective? If you ever plan to refinance the property or tap into the equity down the road to purchase more property, I would strongly suggest looking into a master lease. Have one tenant sign a large lease for the whole house and then let them sublet the rooms. This makes the process much cleaner from a lending guideline perspective and will save you a lot of headache down the road. Really hope this helps and hope you find an outstanding PM!
Post: Looking for a good property manager in Denver area that does Rent-by-the-room
- Investor
- Westminster, CO
- Posts 16
- Votes 9
Hello!
Does anyone know of a good property manager in the Denver area that does rent-by-the-room? I have 6 bedroom home in Thornton and I think it will work well for this strategy. I do not really want to manage the roommate dynamics so I am hoping to find a PM.
Please let me know if you know of anyone! Thank you in advance!
Post: Westminster looking for feedback on regulating STR's
- Investor
- Westminster, CO
- Posts 16
- Votes 9
Quote from @Megan Blythe:
Quote from @David Mackin:
@Megan Blythe I have a rental in Westminster as well. How does yours do as far as STR? Right now mine is a LTR but have been curious about the Westminster market and how the STR numbers look.
I will make sure to do this survey as well!
Thanks!
It does well as a STR because I have separated the basement in my house as a separate unit and the price is comparable to a hotel room. Not sure how it would do with the entire house (4bed/2bath/2k SF) vs the 2/1 that I rent might now. I suspect because of the location a house that size might not do as well with occupancy as the small unit. I'm not sure that there is the demand for large groups of people in that area considering all the draws for large groups are usually closer to Denver or the mountains. Truthfully after I move on from this househack to my next property, I will probably just turn it into a LTR.
I also own a basement house hack STR in Westminster. I definitely will be at one of the listening sessions to advocate for short term rentals being permitted. If they are, I plan to rent out the entire place after we move out and expect it to do significantly better than a LTR would. Check out what your property might do on AirDNA, it might surprise you!
Thanks for bringing this issue to the forums! Great idea!
Post: Denver Airbnb House Hack with Added Basement Kitchenette
- Investor
- Westminster, CO
- Posts 16
- Votes 9
Quote from @Tony SanFilippo:
Hi Tony, we did not have a problem with the egress window permitting. The unit is not zoned as multifamily so we could not completely separate the units. There is a small shared entry way that allowed us to make it work. Hope that helps!
Post: Looking for a Short Term Rental Cleaner
- Investor
- Westminster, CO
- Posts 16
- Votes 9
Quote from @Doug Durgee:
Hey @Vance Payne, did you find anybody? I have a few leads from Turnoverbnb and have also seen some on Taskrabbit. Would be interested to hear what you wound up doing--just down the street from you in Westminster.
Hi Doug,
We ended up finding a cleaner on TurnoverBnB that is working well so far! We had a few longer stays so they have only cleaned twice but so far so good. I didn't even know about TurnoverBnB before making this post and it is great!