Ep 022 – Managing Vacation and Rental Properties with Home Inventory

Summary

In this episode of the Be a Smarter Homeowner podcast, hosts Beth Dodson and John Bodrozic discuss the complexities and benefits of owning multiple homes. They explore various scenarios of multiple home ownership, the importance of managing home inventory, and how technology like HomeZada can simplify the process. The conversation also touches on insurance considerations, documenting inventory for rentals, and the significance of having a plan in place for effective home management.

Keywords

multiple homes, home inventory, property management, vacation homes, rental properties, HomeZada, homeowner tips, real estate, insurance, technology

Takeaways

  • Multiple home ownership can take various forms, including vacation homes and rental properties.
  • Managing multiple homes requires effective tools to keep track of inventory and maintenance.
  • HomeZada provides a comprehensive solution for managing home inventory across multiple properties.
  • Fixed assets like appliances need to be inventoried for maintenance and insurance purposes.
  • Personal property inventory is crucial for rental homes to track items and ensure proper management.
  • Technology can significantly ease the burden of managing multiple homes.
  • Insurance considerations are vital for protecting personal property in vacation rentals.
  • Documenting inventory helps in property sales and ensures transparency in transactions.
  • Creating a detailed inventory can prevent disputes with renters regarding property condition.
  • Homeowners should take responsibility for managing their own property inventories.

Sound Bites

“Go buy a house, go buy a house!”

“Managing multiple homes can be challenging.”

“HomeZada is a godsend for managing properties.”

“You may need to replace your sofas sooner.”

“Documenting inventory is crucial for rentals.”

“You want to share what you have with others.”

“Spreadsheets and photos don’t cut it anymore.”

Chapters

00:40 Introduction to Multiple Home Ownership

03:35 Defining Multiple Home Ownership Scenarios

06:41 Managing Home Inventory Effectively

09:37 Importance of Fixed Assets vs Personal Property

12:38 Utilizing Technology for Home Management

15:32 Insurance Considerations for Multiple Homes

18:52 Documenting Inventory for Rentals

21:37 The Role of Inventory in Property Sales

24:26 Final Thoughts on Home Management24:27 Heartwarming Customer Stories

31:25 Final Thoughts on Moving and Inventory

How to Close up Your Vacation Home

How to Close up Your Vacation Home
Photo by Mohd Elle on Unsplash

While snowbirds rush to their summer homes at the first sign of a wind chill, snow bunnies jump at the chance to spend the season engaging in winter sports. 

To ensure a warm welcome and prevent unpleasant surprises, both types of seasonal homes need to be properly shut down.

Read More

Ep 011 – How to Manage Rental and Vacation Homes

SHOW NOTES:
Many homeowners are investing in vacation homes or rental properties. And because they are investing in owning multiple homes, they have added concerns. We are going to talk about these additional concerns and what you need to do in order to successfully manage more than one home. Listen as we discuss maintenance schedules, the benefits of hiring a property manager, and the importance of a home inventory.


IN THIS EPISODE:
● [01:27] Beth’s experience with managing more than one home
● [04:43] What is a home inventory and why is it important for vacation and long-term rental properties
● [06:32] Maintenance schedules to be aware of and how different climates impact properties
● [12:09] How important is it to hire a property manager and what are the benefits
● [17:39] Key items to consider with selling your vacation home or rental property
● [21:03] How HomeZada helps with managing multiple homes
● [27:08] Action items: property managers and home maintenance

KEY TAKEAWAYS:

● Take a home inventory of your house before renters come in and then after or between long-term renters.
● Two benefits of hiring a property manager: 1) they can be on location to attend to issues in a timely manner 2) property managers generally have a network of contractors and or service providers that they regularly use for regular maintenance and those one off situations that are timely.
● HomeZada makes multi-home management so much easier, more comprehensive and it centralizes all of your important data in one easy to navigate location.

RESOURCE LINKS

https://www.homezada.com/homeowners/multiple-properties

BIO:

Elizabeth Dodson is a focused technology entrepreneur with successful skills in business development, sales, marketing and finance with over 20 years of successful management of revenue producing partners. With great organizational skills balancing multiple roles and responsibilities as an entrepreneur and the drive to increase company revenues and user growth for a consumer technology solution with a partner solution to support the homeowner market.
John Bodrozic has start-up entrepreneur experience beginning with boot strapping, profitable growth, securing venture and corporate venture funding, acquisitions of technology companies, and selling a business to a publicly traded company.