Is there a way to account for a Multi-family property with some units LTR, others STR? I have a 13 unit small complex, all the same address with 5 of the units STR. As long term tenants move out, I’ve been remodeling and converting them to STR. It seems that you can only assign this at the property level, not the individual units. In the Leases and Tenants View, should I leave the property as Long-Term Rental and put in estimated monthly income into the monthly rent field? Thanks.
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We just joined and have the same problem. Large home with two accessory apartments. We have a LTR in the main home and two STR’s. Need to be able to separate out the units.
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+1 for this request! We can’t be the only ones who have both STR and LTR in one property.
To add further info - it would be good to have ability to flip a unit back & forth between LTR and STR with the date in service recorded.
In @rbrokaw’s example, he is charging LTR rents until a point, then the unit goes out of service, then back in service as an STR.
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I have the same question. I havent started using Stessa extensively yet. Do you have a solution? Is it a big problem?
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@rtjrentals - I found another post that recommended setting up the property as a LTR. Then for the STR units, create a “phantom” tenant. I’m still working to figure this out, but I have currently set the rents to $0 per month for the STR tenants. I track the payments for the specific units and at the end of the month, I manually update the past month’s rent charge to equal the total income for that month. This zero’s out the balance sheet. Be sure the “heart” the top post in order to drive up demand for this feature!
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Has anyone cracked the code on this topic? i’m in the same boat.
@kiccassidy - I’ve been doing this for about a year and it works well enough for my purposes.