All Forum Posts by: Andrew Geisler

@Mark Futalan

Thanks again for that useful Info.  Based upon what you said for the La Quinta Market I will go with the design consultation.  You didn't notice any loss in bookings from dropping VRBO/Homeaway?   I certainly don't mind spending 2-3k if it means significantly increased bookings.

Thanks!  

@Mark Futalan

Thanks for the useful info!  I have a 3/2 in La Quinta and last year (the first full season) I did around 40k gross.  This year is looking a bit better.  I would love to have 76k in gross bookings!  If you think this program helps to acheive it, then I am all for it.  Specifically, did you increase your rates during the season, or did you notice more offseason bookings?  My unit was pretty much dead July, August and September.  I tried to price it very low during those times as well.  Even a handful of bookings during that time would help immensely.    Also, did they make you redecorate your unit?  They are telling me I need to budget 3k in reno costs after their advisor looks at the property.    I am hoping I can take care of some of that stuff myself.

Thanks again!

Hi sorry to resurrect a dead thread but does anyone have any updates on AirBnB plus with regard to increased bookings over the past year?  I am debating on whether to accept the invitation for my La Quinta property.  We get about 40% of our bookings from VRBO.  I am reticent to give up that platform and pay an additional 5% fee per booking on AirBnB.  Also, they want me to "remodel" my home with additional decorations that I would have to pay for.    Does anyone have any new insight?

Thanks so much! 

I have a place in La Quinta (close to Palm Springs).  There is no way a private PM company is adding 30-40% additional bookings.  I think that is just untrue.  You will get repeat renters on your own (I have several times).  In fact the personal attention YOU pay to your property by self-managing the bookings imo will generate many more bookings than what a PM company can deliver.  Answer your messages on the AirBnB app promptly,  get back to people and sometimes negotiate a bit and your place will fill up and out-compete the houses run by large PM companies.  Also fyi I use an independent cleaner and local contact that can check on the property for a flat fee.  

Hello,

I can help.   I have a 3 bedroom townhouse in LQ.   Occupancy rates for me were approximately 50% in 2019 (this was my first full-year.)  This year it is projecting to be a bit better, but it is early in the year.  Obviously the property rents better in the spring months (Golf tournament, Tennis Tournament, Coachella, Stagecoach.)   There is a lot of competition, but stand out!  Do a good job renovating your place and decorate it well, take some good pictures.  Those are very important.  Getting a license was easy and not really that expensive.  I self-manage, but I have a local contact in case of emergency (you will need one to obtain a license)

I can't help on the profit because i only know 3/3, but it seems to be doing reasonably well.  It made a profit in its first year, and I have tightened up the ship a little bit on the expense side and have a higher occupancy rate, so I suspect a bigger profit this year.  

I can't help with the area, I think a house in North LQ would be a good value, I have a townhouse in PGA west. It has good amenities, but the HOA fee is expensive!

I go down to check on the property 2-3x yearly.  If you have a great cleaner/local contact they can handle everything and you won't need to go check on it often.

Hope that helps!

-Andrew  

They are in Windsor Hills.  The prices vary depending on the time of year.  I do a 9 month booking window but a 6 month booking window probably would work too.  Guests can book even 1 or 2 days prior to the date of stay.  

Hi,

Many people book last minute.  I would look only one month ahead for to assess for occupancy.  My townhouses in Kissimmee have averaged between 88 and 92% occupancy over the past 6 months, just FYI.  I think I am underpricing a little, though.  

Hope that helps 
 

Hi,

I was hoping to find out some more info about STR in Key West as what I am finding with online search is confusing. Does the entire island of Key West require 28 or 30 night minimum rental? Are there zones of the island that allow STR under 30 nights? (I looked at the Monroe County website and map but could not find any useful info). Does it make a difference if you have a single family home vs condo/townhouse? I see a lot of AirBnB homes in Key west that seem to offer stays under 30 days, but I wonder if they are operating illegally. I would want to make sure I was totally above board if I made a large investment in the area.

Thanks in advance for any insights! 

Hi,

My wife and I are coming down to the Orlando area in about three weeks.  We have been doing some research online, and it seems the ares around Disney (Windsor Hills, etc) are reasonable for vacation rentals.  I have some questions regarding those units, and if the numbers pencil out we would be interested in purchasing one.  Our budget would be around 2-250 cash.  

I am looking for a real estate agent to discuss specifics of these units including HOA fees, ability to self manage, any local or development restrictions, and possibly a pro-forma for similar units to see ROI potential.

Please respond or PM's would be fine

Thanks so much in advance!  

Hi,

My wife and I are coming down to the Orlando area in about three weeks.  We have been doing some research online, and it seems the ares around Disney (Windsor Hills, etc) are reasonable for vacation rentals.  I have some questions regarding those units, and if the numbers pencil out we would be interested in purchasing one.  Our budget would be around 2-250 cash.  

I am looking for a real estate agent to discuss specifics of these units including HOA fees, ability to self manage, any local or development restrictions, and possibly a pro-forma for similar units to see ROI potential.

Please respond or PM's would be fine

Thanks so much in advance!