Furnished 30 calendar day rentals
Worried about how you will manage tenants, leases, and market your property? Don’t worry! Luxury Living Properties has built a network of fabulous renters composed of trustworthy working professionals and retirees. We love to take the headache of becoming a landlord away from our clients and have a team of experts ready to help you with every step.
We are very detailed and make the rental process extremely easy for our clients!
How can I make the numbers work?
If you are an all cash buyer, the sky's the limit. But most clients have some cash to invest but not enough for an entire purchase?
Note, this “cash” can also be in the form of a HELOC which is what we personally use to fund these types of deals. Please reach out. We would love to chat it out with you.
How Do I Get Started? What Should I Expect?
Step 1: Hire a Realtor with experience in this model.
First, you will need to hire a savvy Realtor that is good at finding desirable properties that people will actually want to rent in a “vacation” or “Professional” mindset for 30, 60, 90, etc days. We look for properties that have lots of amenities that are an attractive proposition for our renters. Our sister company, Team Kolker Wendlandt can help with you with this
Step 2: Analyze the deal.
Next you'll need to analyze the cash flow for the property. This entails details such as loan costs, property taxes, insurance, rents, vacancies, management costs, and appreciation to name a few. There will also be start-up expenses to purchase the property, make improvements, furnish it, and advertise it for rent.
Step 3: Prepare your purchase for showtime.
After you have found a property that works, the next step after acquisition is getting it ready for rent. Depending on the location and who you are hoping to attract as renters, you will want to put some money into the designing and furnishings of your property. It’s important that the property shines and isn’t filled with a bunch of dated used furnishings, as you want to be competitive and rent it as much as possible. You will also want to make sure that it’s fully stocked with dishes, cleaning supplies, soaps, cups, towels, bedding, etc. People are expecting YOU to provide everything except their toothbrush! We have a team of expert designers and contractors who can help get your property show ready. Find out more here.
Step 4: Market and book
The final step is marketing and booking. It’s important that you hire professional photos of your beautiful property to capture its full potential. Using AirBnB or VRBO can help make advertising and booking easier. Note that VRBO charges 8% for the privilege of using their site, so be sure to price accordingly. However, the benefit is it helps you find renters and it collects payments for you. What you will need to do on your own is establish a lease for each renter in compliance with the HOA. You will also need to manage turning it over on your own (making sure it’s fully cleaned between renters, nothing is broken, people can access the property when it’s their turn to rent).
We are experienced in this arena and are able to help you find and analyze properties, get financing, help get the property looking desirable to command the highest profit, and help you manage the process if you don’t want to DIY. Also, the experience renters have with our team is top of the class. All of our marketing and concierge services are professional and high class. Renters are wow’ed with their experience and come back to book repeatedly!
