A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Short term Gain could cost you
The new trend in Renting Property is the short term Tenant,
made popular by companies like Airbnb.
As a Landlord, the opportunity to make more money
participating in this Type of Tenancy can be very hard to resist, but can this
short tern possible gain, turn into a nightmare.
Any time you rent out your property, there is a risk of
problems and most Landlords and Property Management companies do their best to
do back ground checks on potential Tenants. It is hard enough to do this type
of check, once per year or so, but imagine doing it several times per year.
This greatly increases the potential for making a mistake and that could turn
that short term gain, into a nightmare.
In my business of Property Management in Orange County Ca. I
am always worried about making a mistake and putting the wrong Tenant in a
property. No matter how much back ground check you do, there is no perfect
system and mistakes happen. I would never manage a property that is a short
term rental property. I would not feel comfortable in putting many different
people in a property in a short period of time.
The problems that could arise are plentiful.
First many
cities are fighting back on this type of business. The neighbors are not happy
to have a property in the neighborhood that has a revolving door of new people.
It is bad enough for neighbors to get used to a rental property in the
neighborhood with a possible new Tenant every year, but to have a new Tenant
every week or two is not going to go over well.
There are also insurance issues. With new people in the
home, there is always more possibility of insurance claims, so you need to
check with your insurance company to make sure you are covered for this Type of
Tenancy.
In my business of Property Management in Anaheim Ca. When a
Tenant moves out, the property must be prepared for the next Tenant and this
cost money. Getting a property ready for multiple Tenants per year can be very
costly. I have had clients ask me about working with these short term companies
and I recommend against it. Yes, you can make good money doing it, but the work
involved and the potential problems to me are not worth the extra cash and as I
said before, I would not manage a property that has short term Tenants.
My suggestion to any Landlord who wants to participate in
this short term Tenancy business is, have your eviction attorney on speed dial.
A.D. Cantelmo Property Management Specializes in Property
Management on Orange County Ca.