Episode 064 - Seven Things You Can Do to Prevent Parties in Your Short Term Rental
SHOW NOTES & LESSONS
Here are Seven Things you can do to prevent parties in your Short Term Rental:
- In your listing and in your House Rules, make it very clear that NO PARTIES ARE ALLOWED EVER. Be so clear as to add that those who break the rules will be responsible for any damages, all repairs, all fines, and fees, including but not limited to all legal fees by you and the owner to recover costs, lawsuits, fines, and fees you incurred.
- Use tools like Noise Aware: a noise detector that measures the sound in decibels without infringing on a guests’ privacy. When the level rises above your set amount, you will be notified by text and email. You should then notify guests by message THROUGH PLATFORM and by a quick phone call right away. Document everything.
- Party Squasher (please use our affiliate link below) can be purchased on Amazon for the same price as on their website. This device allows you to monitor the number of devices...
Episode 059 - Addendums: What to Put in Them & Your Co-Hosting Contracts
SHOW NOTES & LESSONS
What Type of Things Go into an Addendum?
Title the Addendum to Link it to the Original Contract, Date, and attach to the original. State effective dates and any additional payments (or state the fact that there are none).
Define everyone involved and what roles they play. Make it crystal clear who you are, what you do, and who your guests are and what part they play in your business. Be clear in and make it understandable to those not in our business.
State clearly, in easy to understand language and using examples if possible, what each term is meant to do. You may wish to restate things in your lease that are remaining the same and things you are adding to or taking away from that changes the original terms of the lease. Terms usually add to your lease, like the fact that you won't be the main resident, but plan on using it to clarify what each party is responsible for and exactly what they have...
Episode 048 - How to Be a Good Neighbor and Why It's Important
SHOW NOTES & LESSONS
WHAT CAN A GOOD NEIGHBORS DO FOR YOU?
01) Provide Safety & Security for you & your Guests.
02) Help with things like a dead car battery, allowing maintenance men in, keep spare keys, sign for packages, and stocking your inventory.
03) Communicate with guests when you can't.
04) Give you peace of mind.
05) Advocate for you with HOA & other organizations.
06) Stop loud parties, too many people, things getting stolen, or other strange activities.
07) Increase your Network: people you know.
WHAT THINGS CAN YOU DO TO BE A GOOD NEIGHBOR?
01) Do things for your neighbors like mow their lawns, bring over fresh baked goods, or get them souvenirs from your travels.
02) Show pride of ownership & take care of your property & theirs.
03) Be respectful & polite at all times.
04) Add rules so your guests are respectful, too. No pets or parties.
05) Let them know the Comings & Goings. Keep them informed.
06)...
Episode 028 - How Legal Is My Short Term Rental?
SHOW NOTES & LESSONS
You want to diversify and invest in many things, like stocks & bonds, gold & silver, and real estate. However, Specialize in one area of Real Estate Investing - like Short Term Rentals, for instance!
Attorneys specialize. Doctors specialize. You should, too.
Each state has a variety of rules and regulations when it comes to Short Term Rentals.
You can go to Airbnb's Page about Legal & Regulatory Issues. Read what they have to say, then google your city and state with search phrases like, "do I need a permit or license for my short term rental in Tucson, Arizona?" Then just start reading.
- Find out all you need to know for your state government's page and from your city's official government website.
- Ask your Real Estate Agent if the property is Short Term Rental friendly but still, ask for a copy of the HOA's CC&Rs.
Remember, the government provides tax cuts and incentives as a...
Episode 009 - The One Thing That Can Rain on Your STR Parade the Hardest
Here are the books Michelle referenced in today's podcast. Note, these are Affiliate Links.
[00:00] Over the last two centuries, nearly 90 percent of the world's millionaires have created their wealth through real estate here to tell you how you can ride this wave with less risk and less capital long. Creating greater income is your host best selling author and Speaker Michelle Russell.
[00:22] Hi, this is Michelle, the master of money mindset and I'm here with this episode of the short term rental revenue podcast. And in today's episode we're going to talk about the people who rain on your parade. We're going to talk about the Hoa and the people who set up all these cc and rs and all the codes and compliance as city ordinances that will rain on your parade when you are a short term rental owner. Another thing I don't like HOA's and I'm gonna cover that, but HOA's have been like this for a long time. I don't know if any of you, because we didn't have a choice when I was...
