Locust Lake Village, Pocono Lake - Newbie Needs Short-Term Rental Advice!

[Ravi Ramu]

Hi everyone! 

I'm about to buy a 3-bedroom, 2-bathroom in Locust Lake Village for short-term rentals (Airbnb). While I have experience with long-term rentals, this is my first time into STR!

I'm using the "second home" strategy, My lender approved, but... they want me to stick to 14-day rule of personal use. 

I'm seeking advice from seasoned short-term rental pros, especially those familiar with Locust Lake Village.

Here are my burning questions:

1. Property Management: I'm considering Evolve (10% fee) to help me out as a newbie. Are there better options, or should I self-manage despite the learning curve?  I know self-managing can save money, but I'm willing to consider the trade-off for peace of mind (especially at first)
   
2. STR Permit Worries: My property is in Tobyhanna Township, where whispers of an STR permit freeze loom. The township meeting is on February 20th. Should I be concerned? How's the long-term/mid-term rental market in the area if STRs get restricted?
3. Hot Tub Dreams: The place is move-in ready, but I'm thinking a hot tub could be a major selling point. Any recommendations for reliable general contractors in the area?

Any insights, tips, or cautionary tales would be greatly appreciated! Feel free to share your own experiences with short-term rentals in Locust Lake Village. 

[Michael Baum]

Hey @Ravi Ramu, first thing, cross Evolve off  your list. It is a waste of 10%. They do not have the best rep and do the easiest part of the job IMHO. They own your listing and you lose all the reviews, pics etc if you decide to self manage. You have to start over.

Permits - yes you should be concerned. I would attend that meeting to see how it shakes out. You don't want to get under contract and not be able to STR your place. You will have to look at Zillow maybe to see what places are LTRing for in the specific area. Maybe hit up Furnished Finder to see what MTRs are doing.

Hot tub - Sure. I would take a look at AirBNB and VRBO to get an idea of amenities that others are offering. Any hot tubs? If not, then it would be a good addition that could drive some revenue. If a lot have them, then you need too as well. Check for hot tub cleaners that are familiar with STR change overs.