My First Rental Experience: A Journey to Master's Sleeper House
Oh my gosh, I got a rental for my house, and I am ecstatic, but now what do I do? Today, we're diving into how I finally got my first rental as a master's sleeper house, and I couldn't be more thrilled. I embarked on this journey so that I could share the experience firsthand. This is my first year renting, and I had to navigate through several new steps to share them with you.
In Augusta, while there are blog sites that guide you through the rental process, I wanted to offer a firsthand account and a sneak peek into the week everything came together. We decided to go through a Hospitality Group, and when we got the call saying, "Hey Kimberly, we have a renter for you," it was a mix of excitement and nervousness. The offer was a bit less than what we wanted, but for a shorter duration, which meant we ultimately received more than expected and got to stay in our house a bit longer.
Entering Hotel Mode
Once you secure a renter, you switch to hotel mode, which is quite the frenzy. After agreeing on a price and signing the contract, you receive your first deposit within about a week. However, I caution against spending everything upfront. The first year, you'll likely face a deficit due to the initial setup costs for your house, which offsets that initial tax-free income from renting your house. But after that first year, you're set to net the full price.
The First Deposit and Initial Costs
Typically, the first deposit is used for maintenance tasks like power washing the house, painting, and ensuring the landscaping is impeccable, especially in prime neighborhoods where expectations are high. Working with a hospitality company means receiving a detailed contract outlining everything from house maintenance to the specifics of what needs to be provided in the house.
Setting Up for Success
The process involves cleaning out your house and tackling those long-overdue "Honeydew" projects. This includes organizing closets and pantries to look presentable and converting spaces to make them more guest-friendly. For instance, replacing a nursery with a full bed to accommodate adult guests. An unexpected requirement, at least in Augusta, is having a TV in every bedroom, which may involve renting additional cable boxes for the duration of the rental period.
The Logistics of Guest Comfort
Ensuring guest comfort involves more than just a clean space. It requires providing recommended sheets, bedding, towels, and even toiletries. The aim is to make the space as welcoming and comfortable as possible, akin to a high-quality Airbnb or VRBO listing.
Learning and Growing Through the Process
This journey has been a learning curve, pushing me to not only prepare for renters but also to reevaluate how I've been taking care of my own home. It's been a lot of work, especially in the first year, but incredibly satisfying to see my home immaculate and as it's meant to be.
I hope sharing my experience helps those considering renting their homes for the first time. It's a lot of work, but with careful planning and preparation, it's also a rewarding venture. If you have any questions or need more information, feel free to reach out. I'm here to share what I've learned and to help you prep for success.
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