All Forum Posts by: Anand S.

My first VR I put a TV in every room. Ended up with 6 TV's each with cable. Since then, I only put a TV in the living and master. No one has complained. I figure if you're on vacation at my homes you'll either be at the beach, pool or bars. 

Homeaway/VRBO allows you to share personal info so you can secure the booking off-platform. I send an agreement that is executed, and take payment via paypal/venmo/cash/check. You then block the dates on VRBO, which syncs with your other linked calendars. 

Expenses seem fine.

How big is the home, beds/baths, how many does it sleep, does it have a pool, is it close to an attraction? Your income estimation on a home at that price point seems way high. 

This is why I always take a $500 deposit in cash in addition to the $99 damage insurance. When it comes down to me keeping the $500 or them copping to the damage and having it come out of the insurance, they always choose the insurance. 

Just completed my first booking.com guest. The process was seamless. I called the guest prior to check-in and asked how he wanted to pay for the deposit and we did it via paypal. Super easy and I never had to meet him. 

He didn't complain or ask any stupid questions during his stay and when he left he left behind 6 tiki torches and tons of OFF spray. Looks like they had a nice outdoor event. It's comforting to know I don't have to obsess about reviews. 

Money was deposited into my account the day after checkout. The only inconvenience is I have to pay booking.com a commission at the end of the month, and I have to remit the local taxes myself vs. HA/ABB which do it automatically. 

Overall it was a good experience, and I will definitely do what I can to nurture the channel. 

A recession is overdue and I am hoarding cash to take advantage of it.

That said, most folks that got caught holding the bag back in 2008 turned to vacation rentals to carry their homes, and were successful doing so. 

Vacation rentals are a much more efficient way to take a vacation and I expect it to weather a downturn, but you may have to be more competitive with your rates. 

It's all about supply and demand. Someone who knows their market well can hit the sweet spot and get high occupancy while maintaining a healthy rate. I can charge $10K for 7 nights during Christmas but during September I'd have to charge around $500/night and I still won't get full occupancy. 

As a sanity check, I always check my top competitors to see what they're charging and their occupancy and then I adjust mine accordingly. 

@John Underwood what were some of the experiences you've heard?

Or how about both?

I've collected thousands in security deposit from my guests who've caused damage. It's an integral part of keeping me whole and keeping the guests in line. This is from ABB and HA. I wouldn't rent without a security deposit.