Starting an adventure in Short Term Rentals

[Eddie Gonzalez]

Good morning BP family,

                                 I have been investing in buy and hold properties for the last 2 years and currently have 4 properties but i am getting ready to transition 1 of them to a short term rental. I have idea of how to go about this and friends that are guiding me as well. However I would like to see if you guys could give me some feed back on experiences you guys have had, how to market , how to furnish it and where you would recommend to buy furniture.

[Susan Walsh]

I have three sets of bedding (sheets, pillow cases, duvet covers) and two sets of towels.

Under promise and over deliver. I have a budget listing, so I don't do a welcome basket or anything but there are cold water bottles in the fridge, ear plugs next to the bed, and extra toiletries (pads, tampons, nail file, eye glass wipes, etc.) under the sink. I don't show those things in the listing but guests mention them (positively) in the reviews.

You will live and die by your cleaner.

Figure out your target customer, and optimize towards that. Keep in mind, it might not be who you think. You might envision groups of couples vacationing together but get families; neither is better than the other, they're just different.

Guests really hate cleaning fees, so don't charge one; just roll it into your nightly rate (like hotels do). The title of my listing is "No Cleaning Fee - 1-Bedroom Suite Near SDSU".

Guests won't read the listing, so put as much in the pictures as possible. Steep stairs? Take a pic. Offer Roku TV for guests to use their own logins? Include a pic of the log on screen. You're going to want to make your place look as great as it can, but the best way to manage expectations is to be honest and accurate in the listing. Is the entrance to your place six feet away from the neighbor's house? Show it in the pics.

I would avoid stays longer than a week until you feel like you have a handle on things.

I do Airbnb. I require Guests have ID Verified; I don't require a profile photo (those shown after booking, if there is one).

I use Instant Book; I require "Good track record" and I require the Guest to respond to my Pre-booking message before they can book. You only get 400 characters, so I only put in there what the guest really needs to acknowledge/know before booking (I limit the AC and the Wi-Fi is slow, but saying that nicely takes a lot of characters).

If a Guest contacts you asking for a discount, block off a day in the middle of their proposed stay and decline. :)