Should You Manage a Vacation Property? with Shannon Kuiper

We have Shannon Kuiper on the podcast this week talking about managing Vacation Rentals! She is married to Jarred Kuiper, who is one of our Home Loan Advisors here at Stewardship! She manages seven houses in Scottsdale and has some crazy stories, and some good experiences! Managing vacation rentals gave her a lot of freedom in her life, as well as many phone calls and messages about “emergencies” at all hours of the day, and on Holidays. Shannon shares that she has learned that people that stay at an Air BNB still have a “hotel mind.”  They expect 24-hour service, technicians on-site, housekeeping, etc. Part of her job is to manage people like the cleaning people, handyman, pool cleaner, electrician, etc. 

If you are considering managing a Vacation Rental:

1. Count the Cost. You need to consider insurance, HOA fees, any extra fees, pool and yard maintenance, furniture, other start-up costs, replacements, and other unforced costs. 
2. Consider the Commitment. It takes a certain type of person to manage a vacation home. You need to be able to deal with the emotional commitment as well as the time commitment. It is flexible, and Shannon is able to go on any vacation, but it is also a 24/7 job that never ends where you are dealing with a rental problem. 
3. Consider all the unexpected things— You need Margin! Having emergency savings for each home is super important. 

It can be a great job, but there is a reality to it that most people do not realize. If you are considering managing a rental property, listen to this episode, or share it with someone who is! 

If you want to hear the podcast Jarred was on, find it here: https://www.buzzsprout.com/1839122/9237763

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