Transfering Ownership with STR

[Mike Lattier]

We just went under contract with a cabin purchase that is self-managed as a vacation rental.  The 2 platforms being used are Airbnb and VRBO.  The cabin is booked solid after we close.  Does anyone have any insight into the best way to transfer bookings to the new owner?  Anyone been through that process before?  The VRBO site explanation seems a bit convoluted.  Just wondering if there is a smoother way than cancelling current bookings and rebooking.  Thanks.

[Trent Reeve]

they cancel with existing owner and rebook thru you

[Mike Lattier]

Thanks. Did you have your site up and ready to go before closing? If you were taking over from prior STR owner, did they help with photos and that sort of thing until you could get in and do all that?

[Andrew Steffens]

You close and ASAP build a new listing and provide it to the booked guests.  They cancel with refund and rebook though you.  They are not obligated too, so some may not but most will (as long as price is same or less).

I have heard if they current owner only has 1 property they can give you the logins and you can change all the info and re-purpose it to you, but I do not have experience with that.

[Leslie Anne Morris]

If the current owner can notify travelers of new ownership and provide your booking link that’s best. So create the listing but block all the dates, you can’t go live if you don’t own it yet. It’s a tricky transition period. 

[Mike Lattier]

Thanks for the help.  Does sound like a dicey situation in the short term.

[Collin Hays]

Re-booking is the only solution, and our experience has been that very few end up re-booking for whatever reason.  And unless your rental agreement is identical to the owner before you, that's probably a necessary thing.  

[Mike Lattier]

Thanks for the advice.

[John Underwood]

There should have been something in your contract that defines how this is handled.

Hopefully sellers will pass along your contact info so they can rebook with you.

[Brooklyn McCarty]

VRBO will let you transfer 

Airbnb best way is get the guests phone numbers and tell then what’s happening and send them your site once it’s live to rebook. 

But honestly - you don’t want their bookings anyways. 

[Collin Hays]

Quote from @Brooklyn McCarty:

VRBO will let you transfer 

That os incorrect.

[Collin Hays]

Sorry. Meant "incorrect."  VRBO does not transfer reservations to new owners.  

[Alex Scattareggia]

Quote from @Brooklyn McCarty:

VRBO will let you transfer 

Airbnb best way is get the guests phone numbers and tell then what’s happening and send them your site once it’s live to rebook. 

But honestly - you don’t want their bookings anyways. 

You definitely want their bookings.

It gives you a huge head start.  You will lose some of the bookings if you transfer them over to a new listing, (some people will just book a different place, some people will think it's something sketchy and not want to take the risk etc.) However as mentioned above if the existing host explains that they are transferring ownership AND provides the new link, you will reduce the churn.  It takes a little cooperation on their behalf but you can offer them a 5% finders fee or some incentive if they seem unwilling to do it. 

The OTA´s do not let you transfer the listing from one to another unless you completely change the personal information of the host.  Easier to make your own.

[Sarah Kensinger]

Pretty much the only way is if you take over the OTA listing, but I believe there would be a bit of red tape. I know some new owners get the previous owners to work with them in contacting future guests, explain the property sold (like the day before, you don't wait to move bookings around), refund the booking amount, and then send a link to the new listing. 

[Mike Lattier]

Quote from @Brooklyn McCarty:

VRBO will let you transfer 

Airbnb best way is get the guests phone numbers and tell then what’s happening and send them your site once it’s live to rebook. 

But honestly - you don’t want their bookings anyways. 

Why would you not want those bookings?  It's almost a month's worth.

[Mike Lattier]

Quote from @John Underwood:

There should have been something in your contract that defines how this is handled.

Hopefully sellers will pass along your contact info so they can rebook with you.

 Yes, and North Carolina law requires that.

[Mike Lattier]

Quote from @Alex Scattareggia:

Quote from @Brooklyn McCarty:

VRBO will let you transfer 

Airbnb best way is get the guests phone numbers and tell then what’s happening and send them your site once it’s live to rebook. 

But honestly - you don’t want their bookings anyways. 

You definitely want their bookings.

It gives you a huge head start.  You will lose some of the bookings if you transfer them over to a new listing, (some people will just book a different place, some people will think it's something sketchy and not want to take the risk etc.) However as mentioned above if the existing host explains that they are transferring ownership AND provides the new link, you will reduce the churn.  It takes a little cooperation on their behalf but you can offer them a 5% finders fee or some incentive if they seem unwilling to do it. 

The OTA´s do not let you transfer the listing from one to another unless you completely change the personal information of the host.  Easier to make your own.

 That was my thought.  A big head start.