Creating direct booking site for STR's. What is your experience and advice?

[Jacob Switzer]

We are creating a direct booking site for our short and medium term rentals and I am interested in hear your experience and advice. 

We use Hospitable.com as our PMS and they make calendar integration and payment through stripe easy enough. 

I am wondering how people handle security deposits (or other protection) for short term guests?

How do you handle leases for medium term guests, 1-6 months. 

What marketing do you do?

What other advice can you give?

[Allen Wright]

Hey Jacob,

I personally don't deal with security deposits anymore, but I do collect non refundable pet deposits. My STR insurance through Waivo covers what I would have usually collected as a security deposit if I do need to file a claim. The guest pays for that insurance coverage through an "admin" fee. Will only be $25 or so per reservation.

We just use a standard rental agreement.

Outside of the main OTA's, we've had much success on FurnishedFinder and referrals through local Facebook groups. People often get mid term leads that they don't have room for so every once in a while it works out for someone in the group.  

Make sure while using FurnishedFinder you are actively reaching out to every lead that pops up, even if your property may not be an exact fit. People that are too passive on FurnishedFinder don't have much success with it.