All Forum Posts by: Derek Idstein

Hi Jason, Be sure to look into Lake Geneva's STR regulations. For most of the area they restrict it to 6 months of the year for STR.

This is direct from the website:

https://www.cityoflakegeneva.c...

Each Short-Term Rental shall be managed consistent with the following
requirements:
i. The total number of days of operation within any 365-day period of an annual
license shall not exceed 180 consecutive days. This period of Short-Term
Rental Operation shall be specified by the property owner in the required Lake
Geneva Short-Term Rental Application.

Hey Jamal, Welcome to the community! I am happy to connect. Currently have an STR in Sugar Mountain and have done some research on the area.

My property was a FSBO so I was able to work direct with the seller. From talking with local realtors, it seems listed properties are still receiving multiple offers, however appraisals have caught up with the appreciation and they are seeing a lot less need for appraisal gaps as they were earlier in the year.

Hey Matthew, I just picked up an STR in Sugar Mountain. The Banner elk, Sugar Mtn, Beech Mtn, Boone, etc. areas attract renters year round.

Collin, Are you saying the commercial policy needs to be in addition to or in place of a standard homeowners policy? What about the protection provided by AirBNB/VRBO? 

I have had some interesting requests also. Is yours through AirBNB? Wondering if there is a way to report these odd inquiries to them for review before replying.

You can submit to AirBNB for a claim and reimbursement if you can document the damages with pictures and submit receipts for the repairs, additional cleaning fee, etc. The trick is- you must submit the claim BEFORE the next guest checks in, so if you have back-to-back guests, this is a challenge.

I have been able to be reimbursed for a guest who left significant damages and trash. 

Good Luck!
 

For those who have experience with STR around the Carolina Beach NC market, what are you seeing for average number of nights rented in the winter months?

Thank you!

Hi BP,

Curious what resources you all use to evaluate a specific STR market? Thinking about vacancy rate, average rental price, and other relevant info.

Thank you!

Thank you for the reply @Dan Weber. We hope to have enough to fund the entire flip. Sounds like HELOC is the cheaper, and easier option.