The experiment begins...

[Laura2592]

Sharing because I have had many of you kindly reach out. As I have posted (copiously) we were hosts for about 3.5 years and had some of the most interesting guests you could possibly imagine (if you define "interesting" as "exhausting and strange" lol.) We put our ABB up for sale after one shot squirrels on our property and left them in a pile. We have been VERY hesitant to re-enter the world of hosting as a result of that experience. But we had an an entire house full of furniture and had to re-invest our proceeds to defer tax. So we have been working for the last few months on our new property which we are offering as a furnished rental with a regular old long term tenant. Listing just went up on various websites and social media.

We have been landlords and its no cakewalk either. We may end up back in the world of STR if we can't find a suitable tenant. This is an experiment. So far I had a guy complain about capacity limits (1200 square foot house, I said its ideal for a couple/max 2 adults 2 kids and he lamented he had 4 adults and 4 pets and wanted to rent) but we have also had a few decent inquiries. I will let everyone know how it goes. Here are some pics-- so proud of how it turned out. (HGTV give me a call!  I am ready for my show.) Seriously though we upcycled a bunch of things from our listing and added some cosmetic touches like cladding the beam in the kitchen. It probably cost about $3k all told tp get this place ready. Not bad... just a lot of work.  We will await the rental applications.

  

[Laura2592]

@Pat271 you are welcome. I am happy to answer any questions that people might have if they are thinking about renting their space in this market. Please feel free to contact me directly. It was VERY different than I expected this time around.

[Pat271]

@Laura2592  It’s been years since I rented out long-term. From your description, it sounds like a good business situation demand-wise, but at the same time, I’m a bit sad for the renters. Imbalances can be painful. It must feel satisfying helping to alleviate that a bit.

[Laura2592]

@Pat271 it's definitely a head vs heart situation. And as a landlord you have to lead with head or you are sunk. The happy couples and single professionals new to the area are gone. Lots of really sad and desperate situations. We just offered to our top candidate and we hope we are a good fit. It's tough to say no to people who have nowhere to go. 

[Huma0]

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@Laura2592 wrote:Sometimes people share too much. Its SO very much like the ABB guests we would get who overcommunicated personal things. I have one applicant who has contacted me several times a day every day since their tour telling me how much they want the place, sharing pics etc. I have been clear that they should continue to look, and have to tell this person "no" for sure today which will crush them. They are certainly someone we considered but the communication and oversharing did not bode well for a long term relationship. It just reminded me of certain guests. Too much emotional labor.

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I also experienced this with a long term renter. She told me some really quite personal stuff during her first visit and was also super keen to rent the space to the extent that, when I told her I was repainting the room, insisted on helping me do it. We got on really well, so I overlooked that. Error. The first few months went swimmingly, but then the problems started. This girl didn't understand the boundaries. She saw me much more as a fellow housemate and buddy than her landlord. She told me she was having a few friends for dinner but in reality threw a big, noisy, late night party. She would bring several random guys home a week. When she got a boyfriend, he basically moved in. At the same time, she complained constantly about Airbnb guests. 

So, I think you were right to trust your instincts about the oversharing candidate. He/she might have turned out to be an amazing tenant, but why take the risk when you have other options?

[Laura2592]

@Huma0 I'm one of those people who wants to help solve everyones problem. I've been told I'm an empath if you believe in such things. I have to work extra hard not to let the drama other people have live in my head. It is exhausting with certain folks. I see it as a matter of consent. I didn't consent to have all of your toxic details or difficulties dumped on me. I'm just trying to offer you a place to live in a business relationship. Those problems and feelings don't belong to me and it's not appropriate for you to immediately share them. It will take work for me to remind myself of that and to stop feeling responsible because that's just how I'm wired. So I try very hard to steer far clear of people with those issues. You have to put your own oxygen mask on first after all.

[Huma0]

@Laura2592 

Yes, I hear you. Maybe I am similar to you in that respect, I don't know, but people do seem to 'open up' to me about very personal things and often when they barely know me. For example, the guest I posted about who messaged me at 11pm (after her stay had ended and she had checked into another Airbnb) asking to come over that night to talk about something, which just turned out to be 'boy troubles' and not the significant kind.

Perhaps I inadvertently encourage that because I want to be an understanding and helpful person, but one has to set some firm boundaries.

I have a friend who is a bit like this. She's an old friend so it's normal she should share intimate things with me, but she just doesn't respect my time or personal space or boundaries at all. So, I've had to kind of distance myself from her as much as is possible considering we have a lot of mutual friends. 

That is stressful enough. We certainly don't need to have to deal with that stuff with our tenants!

[Laura2592]

@Huma0 not to sound too "woo-woo" but I can actually feel other people's emotions on a pretty regular basis. I thought this was all anxiety - for example I avoid parties where I don't know anyone, shopping when its crowded, phone calls vs email-- but I figured out that it was because I was picking up on things from people. Once a woman approached me panhandling and I felt physically hit with a wave of such despair and hopelessness that I had to walk away quickly and start sobbing and shaking (after I gave her the money lol.) I have had the "bad vibe" many times from people who seemed super innocuous and had my intuition borne out in spectacular fashion in almost every case. I am picking up on SOMETHING. Science has shown dogs can regulate their heartbeats to match ours and read our moods. Maybe it is simple as that-- I have a dog super power. 

This has made me a good read of people but it has created an absolutely essential need to have good, firm boundaries in all situations. That is extra work for me. I don't want to shackle myself to anyone for a year lease who needs all that extra work.

[Kitty-and-Creek0]

@Laura2592 

Use that gift of empathy and vibe reading - it is a treasure. Just make sure your boundaries are firm. 

[Kitty-and-Creek0]

@Laura2592 

Yes, people will get to your heart with a rental like this. I send all the applicants a message on Zillow saying 'thank you for applying'  'it has been successfully rented', and 'we wish you success in finding a terrific place to live'. Not in person and not personal. We are not therapists. 

Extended family and multiple pets can stress the property far beyond the 1200 sq ft. We really have to be immune to "oh, please!" from prospectives. We also got consortiums applying - understandable, but we do not allow sublets, and everyone is on the lease we have, so everyone must individually be responsible to support the  rental. This is a business, and the home is an asset. Cleanup after a tenant leaves can be costly and can take months of hard labor and hired help. 

Unfurnished is the only way to go. 

[Sybe]

@Laura2592 I agree with @Pat271 , really interesting read. Thank you so much for sharing!