Losers...

A lot of those people deserve each other.

Note to self: never rent to a wellness advisor and aspirational influencer without first verifying how much they actually make from their main source of income: their OnlyFans account.

One of the reasons I sold my last rental property. It's one thing to own a large multi-unit property with professional management, but when you're an individual and get stuck with a rotten apple, it's not only financially draining, it's extremely emotionally draining. Although I'm very unlikely to buy another second home, if I do it will be one I can afford without having to Airbnb it. I like being a customer of Airbnb and VRBO, though. For someone like me who only needs an internet connection to work, it's a wonderful way to find unique homes throughout the world to spend a little time in.

Whether using a third party service or renting out directly, we've always collected the total rent up front. If someone was unable to do that we moved on. And of course it's very important to run a full check on whoever you're renting to, although with the weekly Airbnb model it's a little less practical.

Keith
TBG

I think with the law passed last year (?) in NY, upfront rent is no longer allowed. At least, that’s the conclusion I came to renting a house for the summer. I was a bit perplexed when I received the lease to see the payments broken up into equal-sized monthly amounts, but then I recalled reading something.

https://www.brickunderground.com/rent/difference-between-last-months-rent-and-security-deposit

I think the law makes sense for say under $3k per month apartments as they are tight on cash. But I do not think some one paying $10k+ per month needs the protection of this law.

I guess the bill to exempt short-term vacation rentals didn't pass?

Yeah last I heard it had the votes but didn't get thru before Covid shut down the session.