Sign a master lease or cohost on Airbnb?

[Tom Donnelly]

Hi investors - I run a short term rental management company that helps turn properties into Airbnbs.  I most recently switched up my business model of signing leases and started cohosting properties because it was less risky for the business and we've been able to help generate more cashflow for landlords.  While we could offer $100-$150 more per month in rent, we can often generate $250-$600 more in revenue by cohosting.  It also allows us to keep more cash on hand because we're acting more like a manager and less like a tenant (no deposit/first months rent).  Landlords who understand this model have made more with us and are great partners to work with because they understand revenue will sky rocket during high months and be lower during slower months.  It's still a hard sell for many landlords and they want a signed lease because that's the way they've always done things.

Are there landlords out there that have been approached by companies like mine, and would it take for you to get on board with a cohost model?  Would love to hear your thoughts and ideas.

Tom 

[John Underwood]

I find it very easy to self manage my VRBO/ Airbnb and long term rentals. So I don't see giving up control and money for what comes easy to me.

[Tom Donnelly]

@John Underwood I agree, a few properties can be easy to handle on your own if you understand the process and don't mind the management!

[John Underwood]

Originally posted by @Tom Donnelly:

@John Underwood I agree, a few properties can be easy to handle on your own if you understand the process and don't mind the management!

 I handle over 20 and have a day job and I don't break a sweat. You have to have systems in place and people you can trust to take care of issues when they come up.

[Tom Donnelly]

Right on @John Underwood.  Do you run all of your units in the same area or are they spread out?  The hardest part we've run into when we break into new markets is finding good cleaners with referrals to back them up.

[John Underwood]

Originally posted by @Tom Donnelly:

Right on @John Underwood.  Do you run all of your units in the same area or are they spread out?  The hardest part we've run into when we break into new markets is finding good cleaners with referrals to back them up.

 Our Lake front VRBO is an hour away. All our long term rentals are within 30 minutes.

I could move away and still manage all as we have people we depend on to take care of everything and I can manage most everything with a couple text messages.