COVID-19 Real Estate Legislation

COVID-19 Real Estate Legislation

Realtor & Real Estate Investor Relief

Congress has voted on a historic COVID-19 relief that includes many benefits for Realtors and Real Estate Investors.

The following document was compiled by the National Association of REALTORS (NAR) detailing provisions in the following areas:

  • Affordable Housing
  • Banks and Credit Reporting
  • Broadband
  • Federal Transit Administration
  • SBA Provisions
  • Student Loans
  • Tax
  • Unemployment Insurance and
  • Families First Coronavirus Response Act

Click here to access the full document.

This information is very new and we are working to understand all related details, including how to apply for aid. Please keep an eye out for additional information from Key Source Properties.

Attachments:
COVID-19 Real Estate Legislation

How to Clean your Home During the Coronavirus Outbreak

How to Clean your Home During the Coronavirus Outbreak

How to Clean your Home During the Coronavirus Outbreak

Since the recent outbreak of the Coronavirus (COVID-19), we have been exposed to a magnitude of information about the nature of the disease, cases, symptoms and more. In considering how we can best avoid the disease; it is important to know how clean your home during the coronavirus outbreak. By following these straight-forward home cleaning tips, you can make sure that you and your loved ones remain protected and home remains a safe haven.

Firstly, it is important to know some key household definitions:

  • Cleaning refers to the removal of germs, dirt, and impurities from surfaces. Cleaning does not kill germs, but by removing them, it lowers their numbers and the risk of spreading infection.
  • Disinfecting refers to using chemicals to kill germs on surfaces. This process does not necessarily clean dirty surfaces or remove germs, but by killing germs on a surface after cleaning, it can further lower the risk of spreading infection (CDC).

What areas to focus on?

It is vital to identify high-traffic areas of your home and establish frequently touched surfaces (such as doorknobs, toilets, faucets, light switches and handles). Depending on the surface in question, use the appropriate household cleaners to clean the area and follow the instructions of the product label for best practices.

It’s also important to have a routine when you enter the house from running errands or being in public:
  1. Take off all clothes at the door and immediately wash,
  2. Remove your shoes and place in a dedicated holder by the door, disinfecting periodically
  3. Shower to remove contaminants from the face and hair
  4. Then disinfect any surfaces touched

What are some best practices for cleaning and disinfecting?

Be sure to clean the surface before you disinfect.

If surfaces are dirty, they should be cleaning with soap and/or detergent. During this process, be sure to wear disposable gloves. Dispose of the gloves after attending to each individual surface.

Once clean, you can proceed to disinfect the surface by using diluted household bleach solutions, alcohol solutions with at least 70% alcohol, or most common EPA-registered household disinfectants.

How to tackle laundry?

You should wash dirty laundry by following the manufacturers instructions and ensure that the wash is heated. If no gloves are worn when handling the laundry, be sure to wash your hands immediately after. Most laundry detergents do not disinfect. Aside from bleach, few laundry agents do. Lysol and other laundry brands make products specifically to sanitize laundry. We recommend using this with each wash to eliminate viruses.

Instead of using a traditional hamper, consider using trash bags to transport the laundry and dispose when the load is complete. Also, we recommend washing bed linens weekly at a minimum, and more if you feel you have been exposed to a virus.

Steam Cleaning

Viruses can live in fabrics, including sheets, bath towels, clothing, sofas and more. In order to extract these viruses, we advise investing in a steam cleaner that can lift dirt and grease from surfaces with ease. Ideally, steam cleaners can be used on a wide variety of surfaces, hardwood floors, carpets, kitchen countertops, showers and bathroom tiles.

This kind of equipment is great for saving time during periods in which you’ve had to increase your cleaning efforts.

What other tips are there?

Personal Items

In addition to general home cleaning tips, you may not have considered the cleaning of your personal items. Sanitizing items such as your phone and travel equipment can be important preventative measures. This goes for items coming into your home, too! Whether it be Amazon deliveries or groceries, be sure to wipe these down just in case.

Shoes

There is a chance that you can transport the virus into our homes on the soles of your shoes. Once inside, spray shoe soles with disinfectant and leave them at the door! We advise putting on house shoes that do not leave the house. Still continue to spray those periodically as the virus can live in carpets and rugs, too.

Air Purifiers & HVAC Filters

You may be wondering if an air purifier would be effective in removing virus from the air. Air purifiers are great for removing large particulates such as mold or pollen, but with viruses being much smaller than bacteria, they are much harder to eliminate.  This article provides more information as to why this equipment may not be the best investment in the fight against the coronavirus. Your HVAC system can be a good filtration system with the use of a MERV 13 technology, which will trap respiratory irritants, smog, bacteria, and viruses.

By taking the time to carefully clean and disinfect your home and items, you greatly reduce your chance of contracting the virus, as well as ensuring that your home remains a safe place during times of isolation. Knowing how to clean your home during the coronavirus outbreak could well be the difference between contracting the virus or not.  

Remember these key things:

  • Clean then disinfect
  • Wipe down your personal items
  • Steam and spray fabrics
  • Wash your bed linens at least weekly (pillowcases even more)

If you are still concerned about the cleanliness of your home, please reach out to us for a quote on our professional residential and commercial cleaning services.

Please visit our COVID-19 resource page for more information.

Choosing the Right Bed for Short-Term Rentals

Choosing the Right Bed for Short-Term Rentals

After hours of traversing around a new city, the guests of your short-term rental will be left longing for a comfortable bed and a good night’s rest. Being able to provide the right bed for short-term rentals could well solidify that all-important five-star review! Luckily for you, we’ve broken down all you need to know and consider when choosing the right bed for your short-term rental property.

How to Choose the Best Mattress SizeBed Size Guide

With the majority of short-term rental guests being grown adults, Queen and King sizes are most commonly used. If the room size will allow, it is considered best practice to have one of these two sized beds available in each bedroom with at least one nightstand. By having these amenities in place, properties will typically attract more bookings.

However, if the room available is not able to fit a Queen or a King size bed, then a Twin (bunk) or Full-sized beds are preferable for children or young adults. Utilizing a bunk bed is also a great way to accommodate two guests in a smaller room and likely attract families to the property.

Additional Considerations

For additional guest comfort, mattress toppers can be considered.  These are mostly encouraged in the event that a traditional mattress is too firm and is a great way to increase guest comfort. However, there are some important things to consider before you invest in a mattress topper:

  • Memory foam toppers on memory foam beds make them too soft.
  • Mattress toppers do not make old, worn out mattresses new again. If mattresses are sinking and have lost shape, a topper will not fix the issue.

Box Springs (7 – 9 inch) or Bunkee Boards (2 – 3 inches) are great for framed beds. Depending on height of bed, you can go with either of these options.

Platform beds to not need box springs or bunkee boards.

How to Properly Care for a MattressBed Topper

To keep your mattress fresh, comfortable and ready for each guest, be sure to rotate (not flip) the mattresses every 6 months. This will ensure a consistent level of support and a reduced risk of sagging.

Additionally, consider purchasing in a waterproof & bed bug proofed zippered mattress protector to protect your investment. Upon reflection, Zip-around protectors are best to ensure that the protector does not come off during the changing of beds.

Looking for the Expert Choice? 

As a heavily reviewed option and by Amazon and our own guests, we recommend the Zinus Memory Foam 12 Inch Green Tea Mattress. Here’s why:

  • Extremely reasonable price and very comfortable
  • Comes in all standard sizes: twin, full, queen, and king
  • Bed in a Box! Arrives tightly rolled in plastic – Easy to haul around and ships straight to you
  • Not too soft or too firm
  • Fits to each body providing the best night’s sleep
  • Best investment for rental properties
  • For mattresses that are slept on every night, longevity is usually 5 – 8 years

 

Sleeping Additional Guests

Depending on your available space and your goals as a short-term rental host, you may wish to explore the option of sleeping a few more guests. This can be achieved by investing in an air mattress or a sofa sleeper and are convenient options for guests who are looking to add to an additional group. This can be a great way to diversify your property and appeal to larger groups of potential guests.

Despite this flexible option, it is important to communicate the policy of additional guests and ensure that protocol is followed, as well as having accurate property descriptions/images that describe the nature of the additional sleeping option.

With plenty to consider when it comes to sleeping your guests, this is definitely a topic of hosting that should not be lightly overlooked. After taking these additional steps and making careful considerations for guests, hosts will increase their likelihood of receiving fantastic reviews, referrals and possibility of returning guests in the future.

Is this all too much to consider? Talk to us today about fully managing your short term rental.

How to Rent your Home for Kentucky Derby

How to Rent your Home for Kentucky Derby

With the Kentucky Derby being just around the corner, many property owners are looking to capitalize on the inevitable influx of domestic and international tourists to Louisville. In recent years, more and more property owners are temporarily transforming their homes into short term rentals and capitalizing on visitors’ willingness to pay premium prices for accommodations.Wendover Avenue Kitchen

Unfortunately, preparing your home for incoming Kentucky Derby guests isn’t as easy as you may think. In what can be described as Louisville’s biggest weekend of the year, there are many factors to consider before your home is ready for that all-important first guest. By following these simple, effective steps, you can do your part in providing a true Louisville experience and serve your own version of Southern hospitality. And besides, we want to make sure they come back next year, too!

We advise registering your home with Airbnb or Vrbo.

Short Term Rental Checklist

Legalities

1. The first step on your Short Term Rental Checklist is to understand the law. Many cities within Louisville still do not allow short-term rentals at all. Some cities turn a blind eye at Derby, but other HOAs and COAs maintain strict no-rental policies. Additionally, be sure to check with city and HOA officials to ensure you are operating within the law. Here is a guide we have created to better-understand short-term rental zoning in Louisville.

2. Once you’ve received the OK, it’s time to register with Metro Louisville. Some areas, such as St. Matthews, Indian Hills, Jeffersontown, and others will not be allowed to register because STRs are technically illegal, meaning you may not receive authorization to rent your house for Derby. Also, Airbnb now requires a valid registration number on your listing to be able to activate. Here is an article that provides more information on how to register your property with Louisville Metro.

First Impressions and Presentation

Brew and View

3. Less means more! Be sure to clear out everything but the essential items that your guests will likely need. As a result, each room of the property will feel clean, open and spacious and greatly improve the marketability of the property. Some things are essential. Here is a comprehensive guide of what to include in your Derby short-term rental.

4. Be sure that your guests are walking into a spotless and pristine property by providing a deep clean in all areas. Specifically, be sure to get all areas that a normal cleaning routine may overlook. With so many places to consider and with the amount of time it takes to do a thorough job, it might be worth looking into an external cleaning service.

Safety First

5. With an investigative eye, talk a walk around your property and identify anything that could be hazardous (such as loose wires). Once identified, take the steps to ensure the maximum safety of your guests and remove the hazard. 

6. Protect yourself and your valuables. Prior to the arrival of your first guests, be sure to lock away any personal and valuable items that are of great importance to you. This could include family pictures, jewelry, mail, tax/banking information, and/or firearms.

That same protection extends to your personal liability as well. Be sure to have a discussion with your insurance agent to make sure you are covered in the event of an accident. Interestingly, some homeowners policies exclude any type of short-term rental activity, while others have riders that can be added at no additional cost.  

Short Term Rental Amenities and Must-Haves

Bed in Property

7. After a couple of late nights and a day at the track, your guests are going to be begging for a comfortable, calming place to sleep. Therefore, be sure there is a comfortable bed available with inviting pillows and high-quality bed sheets. A good night’s sleep will likely get a great review!

8. Consider leaving disposable eye-masks and ear plugs for your guests should they wish to use these. If you like in an area with an occasional late night train, early morning garbage truck, or airplane flyover, consider white noise machines for the bedrooms to help mask these noises.

9. With the excitement of the Derby being at the forefront of your guests’ mind, there is a chance they’ve forgotten to pack a few things. Consider leaving basic toiletries for your guests and save them a trip to the store. This thoughtfulness could leave a lasting impression on your guests and be enough to solidify that five-star review!

10. What is second nature to you, isn’t to them! Whether it is instructions on how to connect to the Wi-Fi, how to use the shower or how to operate other major appliances, leave your guests with instructions that they will need to know. You want their stay to be effortless, not difficult!

A Splash of Louisville Love

11. It is likely that your guest is new to the city. Consider leaving Louisville-related brochures and city guides around your property to ensure that you have all the tools to ensure a perfect weekend in the Ville! If you can’t get your hands on any materials, consider leaving your guests notes and recommendations on your own preferences for things to do, restaurants and bars etc. Be sure to tailor these notes to your specific location.

You are the Louisville expert after all!Kentucky Derby Horse Decor

12. Leave your Louisville touch. Be sure to showcase Louisville-specific amenities and items that will make your home even more special. From bourbon glasses to horse paintings, giving your home that Southern touch will help to complete your guests’ Kentucky Derby weekend!

Once you’ve taken these steps to finalizing your home, you are finally ready to host your Kentucky Derby guests. It is hosts like you that help the continued growth of Louisville tourism and our city as a whole. Here’s to another successful Kentucky Derby!

Do you need help managing your short-term rental? Contact us today