Locking up first short term rental

[Tom Dempsey]

Hey All - 

I am starting the buying process to look into getting my first short term rental property soon and have a few questions that hopefully some of you experienced vets can touch on.

1) What are some extra expenses that I may not be considering going into getting my first STR? Obviously the closing costs, furnishing costs, and utilities all come to mind when first thinking about it but I was curious if anybody has ran into any other issues or unexpected expenses out of the gate.

2) I am curious to know what you guys did for furnishing your rental units? Is this something you outsource or mainly handle yourself?

3) Looking for recommendations for mattresses that you get. I have gotten the memory foam ones in the past but feel they aren't the top quality that is needed for good reviews. (Not sure if this matters as much as I'm making it out to be) 

4) Any recommendations for making the space unique?  I know the typical game room and cozy fire pit is and will always be a hit, but I want something even more exciting than that. 

I appreciate the help in advance! Thanks BP Fam! 

[Melissa Nash]

Hey Tom- congrats on your purchase. Lots to unpack here and no easy answer. Are you hiring a PM, or self managing? If you are using a local PM they should be able to help you with all the above. The best advise for decor is to fit the theme of your area. Why are people coming to your area, give them that. I toured a STR in FL and all the bedding was random stuff like Paris themes, and really odd travel stuff. Guests want the local experience if they are going to travel there. Who is your guest? Who are you catering to? Families? Business travel? etc. You need to start with WHO, then you can go to the next WHAT. For what...... you can use Wayfair who has a short term rental program and warehouse delivery program.

Mattress! I have one from Amazon to recommend.  I have 5 properties and this is ALL I buy, I even bought it for my house bc I love it it so much. Literally all my guest ask what it is and I have found the best sheets, and pillows too. A lot of trial and error and replacing. I don't think i can post the link here, but feel free to message me privately and I will be happy to send you the recommended that I buy.