All Forum Posts by: Alex Withorn

 OwnerRez

 Ya it's just hard to justify the prices of contractors to do relatively simple repairs. Hard to come up with a good example off the top of my head, but there are things that cleaners can't do but isn't cost effective to pay a $100 per hour contractor rate, or whatever they charge.

A legal expert might correct me here. But as soon as you make a direct booking site and start an escrow account (among other things) you then cross that legal boundary between a co-host and a property manager needing a broker license (depending on your state).

We CO-HOST for others and remain separated from those legal parameters that would consider us a property manager. We don't hande things like, finances and payouts, marketing on a direct booking site, leasing, etc. Everything stays on Airbnb and we essentially just handle tasks for the owners, which happen to be most of the tasks for managing a property. 

Besides that, simplicity is generally easier to scale. We use a PMS and API connect into the owner's listing. Then manage everything from there. Payouts are sent automatically to me and the owner according to our split. This also automates accounting, which is nice.

How do you find a reliable and reasonably priced handyman and what sources are you using to find them?

I'm burning through dozens of handymen for various reasons. Some just not showing up and leaving us in a bad spot, others suddenly deciding their time is worth more, some not wanting to work for us because its not enough work, or even people throwing a fit because they have to fill out a W-9. 

Hoping to hear of best practices to see where I might be able to improve my processes. Thanks in advanced.

Depends on the lender, but some DSCR lenders will run their numbers based on Airdna. Others will calculate their ratio based on appraised long term rent numbers.

It is definitely possible and I have used lenders for this exact purpose. When you're calling around, just be specific that you are looking for lending for a short term rental.

I have made a list of many lenders. On paper, they are essentially the same with some minor differences in offerings. 

The question being: How do you decide which lender to use?

Side question: How can you help ensure a good, timely, mistake free lending process? 

@January Johnson Could be worth experimenting at least. You might find yourself getting an even higher premium by giving yourself more lead time and getting those super organized people that plan ahead.

@January Johnson I'm curious; does it not have the same effect if you leave the dates open further in advance at the same high prices?

Sounds like it's possible your weekend prices could actually go higher! Could be worth trying it for a few weekends to see what happens.

I would be curious to experiment with the more extreme pricing idea and see what happens. Seems you would still need your good track record, a nice place, and a good listing. But if you can project perceived value, then maybe you attract more wealthy customers looking for things they can afford?

I am curious to use the hive mind to learn about best practices for revenue management for short-term rentals.

One trick I have used is to crash prices for undesirable dates, or dates that would otherwise go un-booked. For Airbnb and VRBO, this manipulates their algorithm into thinking your listings is extra popular.

Would love to hear about your tricks and tips.