AIrbnb model in Richmond Va

[Ryan Wydler]

Hey BP,

I am curious if anyone is using the airbnb model in my local area, Richmond, Va (Lakeside, West End)? What obstacles did or do you face with the county doing business as a short term rental? Have you been able to create systems to scale? 

What is it like managing a portfolio of short term rentals? 

[Michael Baum]

I have no info on the Richmond VA area. Things you will have to look into first is what the city/county will allow. Is there any restrictions on STRs? Are there any in the works? That would be number one IMHO.

I only have one rental now and it is fairly easy to manage. I live about 360 miles from the lake house and so far so good. 

Once you get a good cleaner and handyman ready to cover it should be pretty much the same. Dealing with each guest takes time if you want the best customer service. I speak personally to each guest before they travel to the house. Send them emails with all the interesting stuff to do etc. We also provide a little welcome basket for each guest with snacks and some homemade jam. 

I am not sure how well that sort of service can scale. Companies like Evolve can handle all the inquiry's, bookings and communication, but it costs and I don't know how personal it is. One comment all our reviews get is how attentive and communicative we are. We have all 5 stars so we must be doing something right.

I am sure there is a balance to be had. We are planning for a 2nd place sometime after this season is done, so I guess we will find out! I plan to keep on self managing.