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Thank you for the ideas! Any episodes that include KeyCheck advice are noted in our KeyCheck playlist. The show notes for each episode can help take you straight to the KeyCheck, tenant screening, leases or rent payment conversation.

ua-cam.com/play/PLokjj6PCc5XwroGAFM3vlXQIlc2LsYokH.html

Great comment! Here are things we have heard on the show... 1) Add a gracious utility cap in the lease to give the tenant a bit of ownership 2) Make sure you are on a fixed rate utility plan, not a variable plan 3) Check for window or door leaks, etc or things that could be affecting the efficiency 4) Add a smart thermostat you can watch and control from your phone 5) Add directions in you house rules on how to set the thermostat when you are away

With an extension, I would reach out to our customer service and they can point you in the right direction! (855) 616-8588

Catch the full story in episode 62 of The Landlord Diaries podcast. We cover a TON of incredible MTR tips in this episode.

Spot on. This would add a middleman who gets to decide whether or not to cover damages, when taking a deposit makes the transaction direct between landlord and tenant.

Thanks for engaging! Waivo is looking for coverage in every claim. The key is it has to be damage that can be captured in a photo and submitted within 14 days of the coverage end date which should match the lease terms. No move in move out inventory form needed which eliminates deposit disputes. I believe Airbnb coverage has both guest and landlord involvement, Worry Free Waiver does not involve the tenant at all. Payouts are determined and paid to you directly within 3-4 business days of submitting the claim. Yoh work directly with a Waivo specialist.

Please reach out to our KeyCheck customer service team with any questions you may have. They are ready to help! www.keycheck.com/Home/ContactUs

Here is my concern, if someone destroys your property, you have to show proof on every little thing, and the only thing that will be approved that had a cost expense to the host. For example, my tenant scratched the butcher block counter top and stained it by putting hot pans on it. What if i decided to not do anything about it and did not hire a contractor to fix it. In this case i would not be covered because i would not provide a receipt. Also, if they destroyed something like a couch, and i decide to replace it with a different kind of a couch, i would mot be approved for that either because its not the replacement of the damaged couch. As you can see, this idea sounds appealing until you have to fight with a third-party about every single thing. Im sticking with security deposits until i see something that gives me more control of the damages. Prove me wrong

I love your engagement and appreciate you sharing your concerns. Have you called Waivo and asked what would happen in your example situation above? One of our recommendations to help you get comfortable with the product is a combination option. For a 3 bed home, you could offer something like this… Would you like a $1,000 refundable deposit or a $250 refundable deposit with a $79 monthly damage waiver added to your monthly rent that covers you up to $3,500 in damage. This would also include earlier termination coverage for you. I would call our customer service team or Waivo with any scenarios you’d like to review. By no means do you have to use our deposit alternative, but it can definitely give you a competitive advantage. This is a product users have been asking about for years which is why we worked hard to offer this option to our Furnished Finder users.

Hi Kris! Thanks for sharing your thoughts. Did you listen to the episode? You are more than welcome to continue asking for a deposit. Worry Free Waiver is an MTR landlord tool available for those that see the benefits. Katie and I are both asking our prospect tenants in the booking process if they would like the refundable deposit or Worry Free Waiver option for $xx per month added to their rent. Gives landlords a competitive advantage for travelers that may still have a deposit tied up from their previous stay.

In addition, most MTR hosts aim to make 1.5-2x the profit of long term rentals. Happy to provide feedback on your listing if you’d like. All we need is your Furnished Finder property ID #.

@@thelandlorddiaries I see so you will basically send the link 🖇️ to the tenant and make sure they sign up (and each month need to check to make sure they have it valid) or you are saying that you (the landlord) has to sign up for it and we just charge the tenant monthly for however long they rent your room

Yes, the latter. You purchase the worry free waiver in your landlord dashboard. In addition, the early termination portion, which is an added landlord benefit, covers you if a tenant moves out and stiff’s you on rent (not common but can happen). You have up to the coverage amount towards both tenant damage and rent loss. Our KeyCheck customer service team is very knowledgeable about the product for any questions you may have.

Hi could you please provide more context? Are you asking for advice? Was this a long term stay? A mid term stay? Was Dee your landlord or someone else?

Hi Maggie! Here are some facts for you! Worry Free Waiver landing page: www.furnishedfinder.com/members/worry-free-waivers Check out episode 118 with WAIVO, our Worry Free Waiver partner. ua-cam.com/video/hZX_qV-G81E/v-deo.html

Great question Lynne! This is host Kelly Bailey. Showings are not expected in mid-term rentals since many times they are moving from another location to your home, similar to short term. A traveler asking for a showing is often trying to to build trust or understand the layout better. Not necessary, but for a competitive advantage you can capture a video of the home or provide floor plans on your listing. Another options which I have found successful is to let them know a showing is not guaranteed since a guest is in the home. You then ask the current guest(s) if they are comfortable showing the home and that it doesn’t have to be perfect, just tidy. Building up your 5* reviews can also help with the showing request.

Thank you for watching Jesus story! Make sure you subscribe to The Landlord Diaries channel & turn notifications on for new mid-term rental episodes each week.

Fantastic! We have many others we have interviewed on this subject if you’d like to check out our STR/MTR hybrid playlist. Do you have your properties on Furnished Finder?

STR/MTR Hybrid Strategy ua-cam.com/play/PLokjj6PCc5Xx5xoIG8n5Tm-RDHjTULn7j.html

Great question Marty! These are the options we have heard on the show… 1) communicate that you have multiple applicants interested and you will follow up very soon. 2) move forward with the first party and let future requests know you have someone going through the booking process but if it falls through you will reach out. It’s best to decide quickly since our stats show the average book to stay window is 34 days. MTR guests typically move quickly with bookings.

Thanks for the comment Rob! If you catch our episode with the Waivo team, no pre- inspection photos needed, just a claim submitted and photos of the tenant damage within 14 days of move-out. They are looking for coverage in every claim. Have you submitted any claims with Waivo?

Our pleasure! New MTR content every week.

Great question! In your Furnished Finder landlord dashboard under the “Worry Free Waiver” tab

Great! Add Worry Free Waiver to your next midterm stay from your Furnished Finder Landlord Dashboard.

What's your MTR story?!!!

Love your comment Robin! If you have a Furnished Finder account, then you should be getting the emails. Check your SPAM folder or reach out to Customer Service to be added back if you are not currently receiving emails. We add new blogs each week so we recommend bookmarking the tab and check it weekly for new blogs.

Hi Marty! Just click on the “write your review” from any listing and you will see the questions your tenant will be asked. I like to provide the dates of stay for my guest to streamline the process.

Great idea!

FurnishedFinder.com/stats

4 pages of notes, that’s fantastic!

Glad you enjoyed it!

Happy to help =)

Potentially...before amending a return, always speak with your tax advisor to look at the cost/benefit. On each amended return, you are required to state what is being corrected.

Assumig the ADU itself is 100% rental, those hours may count towards REP status. Time spent on your main home may not count though even if the future intent is to turn it into the rental.

Great question. Generally speaking, it can make sense since your losses carryforward as net operating losses and not as passive losses. Be sure to speak with your tax advisor before pulling the trigger on cost segregation.

Real estate professional

You got it, that's exactly what she does! We have a whole arbitrage playlist on this subject if you'd like to check it out.

ua-cam.com/play/PLokjj6PCc5XyRXIntMMJ30ClLcOA-yx23.html

Thank you Carrie for tuning in to The Landlord Diaries, I hope it’s a helpful part of your MTR journey. I appreciate your honesty about your experience; it’s tough when interactions feel insincere. I’ve seen how authentic and knowledgeable Ruben is-he truly cares about helping others succeed. I hope you’ve made other meaningful connections. Any MTR content or connections you’d like to highlight?

Hello Delores, thanks for tuning in and providing feedback. What type topics would you like to hear more about and I can suggest some episode(s).

Good news, the webinars will be uploaded to UA-cam soon! Stay tuned on The Landlord Diaries & Furnished Finder UA-cam pages. Make sure you are not only subscribed, but have notifications on for both channels.

Great to hear from you Gabe & that you two know each other!

Great let’s connect! Send me one of your Furnished Finder property ID #s here or apply from the Furnished Finder homepage under the Resource tab, Landlord Diaries.

Keep the questions coming Veronica! I answered “how to get started” on your other comment. I will answer your additional questions here. Furniture- you can find recommendations on furnishings under the Furnished Finder Resources tab on the homepage. We also have a design playlist on The Landlord Diaries channel. Places we have heard for buying furnishings on our show- HostGPO, Cort, Amazon, Walmart+, Facebook marketplace and many more. Many hosts self manage their properties remote and many higher property managers or co-hosts, whichever is best for you. You need a reliable cleaner and handyman to get started. Task rabbit, Turno or talking with a local realtor are great places to start for building your team. If you’d like a manager, check out our co-host playlist on the Landlord Diaries channel.

This is host Kelly Bailey. There are many successful room rentals with shared bathrooms on Furnished Finder across the country. In my personal case, I looked at my market & saw a lot of room rentals for around $700-$900 with shared baths so instead I marketed my 3 bed, 2 bath in Temple as a "luxury room rental" renting two rooms for $1,400 per month. One guest gets the master bed/bath, the other guest gets 2 queen bedrooms w/ private bath. I have the guests communicate before booking to make sure it's a good fit. This has worked great at this specific property for about a year and a half now. Check out the Furnished Finder map for your area, search "room rentals" only which show up in purple and see how you might stand out in your market.

Thank you Mary! Are you a midterm rental host on Furnished Finder? What is your real estate story?

Wonderful! Fantastic idea to fund your travels, cover your mortgage & hopefully cashflow as well! Many hosts self manage MTRs while they travel. MTRs typically produce 1.5-2x the profit of LTR but average only 4 turnovers a year. A couple thoughts for getting stared. 1) you can start marketing your property on Furnished Finder now with quality unfurnished photos and ask travelers for their opinion. Choose a date you could have it furnished by and add “Furniture Coming Soon” to the headline. You will also start seeing tenant leads which will give you an idea of who’s coming to your area, their budget & why they are traveling. 2) If you want to go all out, put king beds in any room they will fit or queen beds. The final bedroom you could use as a flex room with a trundle bed, bunk bed, or another king/queen bed. In room needs: dressers or closet storage, night stand(s) with reading light and a desk/chair if it fits. If it seems overwhelming to clear out your stuff, you could always lock off one bedroom to start and use it as storage. Don’t hesitate to send more questions if you think of any. We are here to help!

I would catch episode 16 of the Landlord Diaries podcast. Sarah Weaver is a pro at managing her MTRs while she travels.

@@thelandlorddiariesI’m excited about this. Will watch and hope to list in the next week… just…busy, nervous… and ready-before I’m ready😅

Thanks! More great updates to come, stay tuned to Furnished Finder marketing channels. I don’t remember if you are still a traveling medical professional & host. If yes, will we see you at Travcon? Would love to connect if you send your Furnished Finder property ID # or link

@@thelandlorddiaries I'm only a FF Host now and unfortunately I won't be at Travcon. Have a blast though!

Thanks for tuning in Aramis! Any subjects or topics you’d like to hear more about?

That is a helpful fact. Thanks Rebecca!

Great insight Mike! I’d really like to connect. Why don’t you send your Furnished Finder listing PID # here or reach out through our Landlord Diaries link from the Furnished Finder homepage under resources.

Did you see our new Worry Free Waiver product which we partnered with Waivo on for midterm rental guests? It’s in your Furnished Finder dashboard.