I am so psyched I found your site! I've learned so much, Thank you!! I hear what you are saying and there's some validity to it, but you can include exit strategy into your contract indicating that if short term rental rules change you can get out of the lease without penalty. In regards to the furniture getting damaged or someone getting hurt, you can get renter's insurance. Regarding maintenance, the timeliness can also be written into the lease. Also, you can find furnished properties.
We’re so glad you found us, too! There are so many ways to get involved in STRs and making sure your agreement protects your specific business model is always best!
But at least when you own it the mortgage you pay is reducing your loan. And you’re also gaining equity in a property. I tried it for a little over a year and I didn’t like it. The main reason was that I always like to do upgrades on the properties I rent out and I’m not going to upgrade a property that I don’t own.
@@tracy3066 I agree, the video make it seem like you don't have the same issue if you own. You can't pay the rent you can't pay your mortgage, either way you loose the house. We have one of each, I like owning better for the same reason, doing upgrades.
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I am so psyched I found your site! I've learned so much, Thank you!! I hear what you are saying and there's some validity to it, but you can include exit strategy into your contract indicating that if short term rental rules change you can get out of the lease without penalty. In regards to the furniture getting damaged or someone getting hurt, you can get renter's insurance. Regarding maintenance, the timeliness can also be written into the lease. Also, you can find furnished properties.
We’re so glad you found us, too! There are so many ways to get involved in STRs and making sure your agreement protects your specific business model is always best!
Most of your points are also associated with purchasing a property too.
But at least when you own it the mortgage you pay is reducing your loan. And you’re also gaining equity in a property.
I tried it for a little over a year and I didn’t like it. The main reason was that I always like to do upgrades on the properties I rent out and I’m not going to upgrade a property that I don’t own.
@@tracy3066 I agree, the video make it seem like you don't have the same issue if you own. You can't pay the rent you can't pay your mortgage, either way you loose the house. We have one of each, I like owning better for the same reason, doing upgrades.
You 2 look Christmasy in your bright green and red outfits!
86 days to til Christmas.... but who's counting?