Motel On Topic
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Motel On Topic (by Natasha [MD]) Sep 14, 2020 7:02 PM
       Motel On Topic (by GKARL [PA]) Sep 14, 2020 8:37 PM
       Motel On Topic (by Barb [MO]) Sep 14, 2020 9:26 PM
       Motel On Topic (by Richard [MI]) Sep 14, 2020 9:56 PM
       Motel On Topic (by DJ [VA]) Sep 15, 2020 7:52 AM
       Motel On Topic (by Natasha [MD]) Sep 15, 2020 8:02 AM
       Motel On Topic (by Allym [NJ]) Sep 15, 2020 10:41 AM
       Motel On Topic (by Allym [NJ]) Sep 15, 2020 10:41 AM
       Motel On Topic (by Allym [NJ]) Sep 15, 2020 10:42 AM
       Motel On Topic (by Oregon Woodsmoke [ID]) Sep 15, 2020 1:00 PM
       Motel On Topic (by razorback_tim [AR]) Sep 15, 2020 1:12 PM
       Motel On Topic (by BRAD 20,000 [IN]) Sep 15, 2020 6:28 PM

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Motel On Topic (by Natasha [MD]) Posted on: Sep 14, 2020 7:02 PM
Message:

Finally closed on our 1031 exchange property replacement since our relinquished property sold in March. Our motel conversion to short term rentals was the plan but after settlement we noticed the motel has filled up with solar panel construction workers in the area. Their employer is paying the rent. The previous owner has them on weekly rent payments. On second thought due to the demand, we might continue with these workers but since I am not used to weekly rent payments, how does one collect weekly rent payments electronically? Do you collect the money up front plus the deposit? The goal was to turn the motel into a short term stay (3-4 month stays). This would avoid the hotel tax in our state. But, if it's worth keeping it for these workers and it brings in good revenue we might continue it. Anyone have a good system of collecting weekly rents electronically with easy bookkeeping? I am not local and have no intention of meeting or seeing any of the residents in person. --190.105.xxx.xxx




Motel On Topic (by GKARL [PA]) Posted on: Sep 14, 2020 8:37 PM
Message:

I use Google pay however that means that they must initiate payment. --209.122.xx.xxx




Motel On Topic (by Barb [MO]) Posted on: Sep 14, 2020 9:26 PM
Message:

If the solar workers are there more than a certain number of days, even if they pay weekly, they probably donít pay motel taxes. The number is 30 consecutive days in my state.

If you have a commercial bank account, you may be able to do ACH draws. --67.43.xxx.xxx




Motel On Topic (by Richard [MI]) Posted on: Sep 14, 2020 9:56 PM
Message:

Get in touch with whoever is paying and get this resolved. --75.7.xx.xx




Motel On Topic (by DJ [VA]) Posted on: Sep 15, 2020 7:52 AM
Message:

Would start with asking how the employer paid the previous owner.

Why didn't you work this out before closing? How are they paying this week, while you figure it out? --70.160.xxx.xxx




Motel On Topic (by Natasha [MD]) Posted on: Sep 15, 2020 8:02 AM
Message:

I will contact the employer. I didn't know they were going to continue to lease up while in escrow so that's my mistake. It's an old motel and with covid I really didn't think it would be leased. But, they are paying and we got all cash this week. That's what my partner collected but we can't do cash moving forward. Thanks for the tips. --212.102.xx.xxx




Motel On Topic (by Allym [NJ]) Posted on: Sep 15, 2020 10:41 AM
Message:

That's funny and sad at the same time. Solar panel workers when we are in Solar Minimum and the next thirty years are predicted to be a larger minimum and smaller maximum. We could have the glaciers come back in the mountains. Manufacturing is like a giant truck. Once it gets started, it's hard to stop when it starts going in a bad direction. They should start making insulation panels. --71.104.xx.xxx




Motel On Topic (by Allym [NJ]) Posted on: Sep 15, 2020 10:41 AM
Message:

That's funny and sad at the same time. Solar panel workers when we are in Solar Minimum and the next thirty years are predicted to be a larger minimum and smaller maximum. We could have the glaciers come back in the mountains. Manufacturing is like a giant truck. Once it gets started, it's hard to stop when it starts going in a bad direction. They should start making insulation panels. --71.104.xx.xxx




Motel On Topic (by Allym [NJ]) Posted on: Sep 15, 2020 10:42 AM
Message:

That's funny and sad at the same time. Solar panel workers when we are in Solar Minimum and the next thirty years are predicted to be a larger minimum and smaller maximum. We could have the glaciers come back in the mountains. Manufacturing is like a giant truck. Once it gets started, it's hard to stop when it starts going in a bad direction. They should start making insulation panels. --71.104.xx.xxx




Motel On Topic (by Oregon Woodsmoke [ID]) Posted on: Sep 15, 2020 1:00 PM
Message:

If the employer is paying the rent, that would be one rent check and the business would already be accustomed to online payments for othe supliers. So just contact the employer and set it up. --76.178.xx.xx




Motel On Topic (by razorback_tim [AR]) Posted on: Sep 15, 2020 1:12 PM
Message:

I collect weekly rent payments via ACH initiated through my local bank. --70.178.x.xx




Motel On Topic (by BRAD 20,000 [IN]) Posted on: Sep 15, 2020 6:28 PM
Message:

Natasha,

Watch EVERY episode on Hotel Impossible (100+). The things he teaches apply to short term rentals. Good education.

BRAD --73.102.xxx.xxx



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