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+--- Thread: Inherited a property (/showthread.php?tid=169)
Inherited a property - JeHope43 - 04-10-2025
I recently inherited a lovely lakefront cottage in central Minnesota, but I live 15 hours away by car in Ohio. The location is dear to my heart though work makes it challenging to consider it a viable vacation getaway due to the travel time… even flying into Minneapolis takes a good 6 hours due to layovers.
So, I’m looking for some advice on how to approach this from a short-term-rental perspective. It’s a really beautiful spot but not exactly move in ready just yet. I plan on spending a month doing some relatively minor DIY and yard maintenance this summer, but I want to make sure I’m considering what outside visitors would expect vs what time and energy I have to invest here. Based on some initial research, there isn’t much (yet) regulation.
What has your collective experiences been like in navigating all this? Is remote management an extreme challenge or is it a good solution?
RE: Inherited a property - ajax777 - 04-11-2025
Totally doable as long as you engage the right partners. Look for a co-host in your area or a local reputable property management company that has experience with vacation rentals. This will make remote management of the property much more realistic. As for doing the initial setup/maintenance, depends on if you're talking about a large renovation project or just a light refresh. Is the current state of your property in line with what visitors would expect in this market? i.e more "Luxury" accommodations vs. something more "Cozy" and "Charming".
RE: Inherited a property - AllMyAttention - 04-11-2025
Get on good terms with your neighbors and use cameras at the remote property to be your eyes and ears and link up with good available contractors. You mention DIY and doing your own maintenance but being 15 hours away.. are you going to lug all your tools there or buy a second set and lock it up somewhere?
RE: Inherited a property - back2thebay - 04-13-2025
-Know local regulations
-Ask locals for cleaner and handyman recommendations
-Get professional photos
-Have the amenities that matter in your market (hot tub, view, interior design, fire pit, etc)
-Automate messaging in AirBnb
-Be a good host, you are in the hospitality business
-Price it right to build up reviews, even consider having friends stay for a discount in exchange for a good review and personal feedback
RE: Inherited a property - econ12 - 04-16-2025
What county in MN is this property located in?
RE: Inherited a property - Inspired - 04-17-2025
If you have a property manager it’s fine. If you don’t have anyone that you can call that can be there in 15 minutes, don’t do it. I travel while people stay in my home so it has worked for me for the past 3 years.
RE: Inherited a property - cfischer - 04-25-2025
I would definitely look for a reliable property manager or co-host. Someone local who will quickly address any issues that will inevitably occur.
It’s not just horror stories which will keep you up at night like parties and unauthorized guests that are a concern but I’ve had guests who can’t get in because the electronic lock battery died, maintenance issues, etc.
RE: Inherited a property - StayingHomeIsBetter - 04-27-2025
If you've inherited a property which is paid off you're already way ahead of the game than most people here. Your costs will mainly be taxes and insurance and cleaning and it sounds like this is a property which you will be holding onto regardless of if you rent it out or not. In that case, like others have said, find yourself a good LOCAL property manager for which I'm sure there are plenty in Minnesota (not the big companies like Evolve) and if your goal from thereon is to just cover your monthly expenses then you should find that quite doable. Also consider partnering with a co-host in your area.