All Forum Posts by: Jenessa NeSmith

I love the site zulily.com. You can find flash sales of comforters for under $20/piece and sheet sets for under $15. Some people say white sheets are best, but I actually prefer colored/patterned sheets for a touch of personality. Make sure to splurge on at least two quality pillows per bed (see if you have a friend or family member or acquaintance who works at a place like mattress firm as they can hook you up with some serious discounts). The extra 2 pillows per bed can be walmart pillows if you want.

I would be careful labeling your LLC as a "property management" service as most states require brokerage licenses. At the very least there is a good chance there will be more regulations etc for a professional LLC.

We used legalzoom for ours, it was pretty user friendly. We checked with the secretary of state to ensure our name wasn't taken and registered the EIN on our own. Our LLC offers "cohosting services" such as cleaning and turnovers, and we cohost 4 Airbnbs in our area. Our own rentals are under the same umbrella, so all business expenses, liability insurance, etc, is all for the same LLC company.

I would consult your CPA to make sure you aren't missing anything

I second the idea of renting out the second 1/2 of your duplex on Airbnb, in addition to the room in your unit.   But that option involves increased start up and ongoing costs, both in terms of time and money.  

Although there are risks involved in letting your tenant Airbnb out their second bedroom, it could be a way to increase your cash flow with minimal work on your part. If you want to explore this option, I would recommend:

1. instead of your long-term tenant having their own Airbnb hosting account, you can add them as a "co-host" to yours.  They will only see the account that you add them as co-host. You remain the original listing host, and will have control over who is allowed to book (for example you can make it so all of the Airbnb guests have good reviews) and house rules.  This option also allows you to determine the percentage of profit splitting. If utilities/wifi are separated and the tenants are fronting the start up costs, I would suggest you split 50/50 and let them have the cleaning fees. 

2. I am definitely not a lawyer, but I would see about the possibility of making the Airbnb "business contract" separate from the lease your tenant signs.  You could allow you or your tenant to terminate the Airbnb agreement with X many days notice.  (If you do this, make sure to only allow people to book a month ahead so you don't get hit with cancellation fees). That way if you do move out and/or things change down the road, you have given yourself an out. 

3. As a landlord you should already have some sort of umbrella liability coverage...I would require your tenant to have some as well.  

I love how you are thinking outside of the box on this! I've been an Airbnb host for 2 years so let me know if you have any questions about anything specific

Is it rolled out everywhere or just in certain cities? I tried searching as a guest for Plus homes in my area and couldn't figure it out.  

I currently use the 2.74 towels from Wal Mart also.  I was looking into ordering a bunch of bulk towels from China, but couldn't find them for that much cheaper even in bulk.

Wow looks so much brighter! Love the subway tile.  Is the plan to keep it as an Airbnb after your daughter graduates, or are you going to keep it as a LTR?

Do you have any advice for others who are trying to do Airbnb from a distance?

Interested in getting the returns of a short term rental, but don't want to spend your time cleaning or dealing with guests?  Considering converting an existing rental but aren't sure where to start?

We are the company for you! We offer a wide variety of services, from cleaning/turnovers to hands-on management.  We will work with you to put together a package that fits the unique needs of your property.  

Having been in the Airbnb business for almost 2 years with multiple listings, we know what it takes to make a property guest ready and 5 star worthy.  Some of the unique services we offer are: guidebooks written by locals, sample itineraries for travelers, pro decorating techniques, which amenities provide the best returns, personalized welcome messages for your guests, and inclusion of your property on our website and social media pages. 

 If you are looking to self manage but need help getting started, we can help you get up and running with our short term rental consultation!  There are plenty of articles and courses out there, but we can offer you is concise information and advice specific to YOUR property and pertaining to the Omaha marketplace. This will end up saving you time and money by avoiding costly rookie mistakes. 

Short term rental returns without the headache!  We can make your short term rentals truly passive. 

Check out vacationrentalsomaha.com, as well as on Facebook and Instagram.  Send me a message if you are interested in seeing what we can do for you!

I second the ring. They are pretty cheap to purchase and they stored footage on the cloud. Yes, you would be able to tell someone snuck in a dog by the hair in the house, but if you want the guests to pay for extra cleaning fees it helps to have photographic evidence. I also imagine it coming in handy for potential liability, for example if a guest makes a claim that their car was broken into, or if your house is ever broken into. Airbnb has a place in the listing where you put if and where you have surveillance cameras. It is also nice knowing that people have checked in. Bottom line, Rings are not that expensive and not that much hassle, and could potentially save you big bucks if there is ever a claim made by you or a guest.

Brian Washburn hey thanks for reading! I just found it off the MLS. The ones that I could find off market were either in the wrong part of town or needed too much work done. You can still find good deals on the MLS in Omaha.

I haven’t taken Brian pages class, but am familiar with the overall concept of the method. This is also coming from the framework of my local market (Omaha) which can’t sustain as of an average cost per night as someplace more touristy. That actually helps me because it means less competition and less regulation from local governments, but that’s a topic for another post! With the numbers in my market, the Brian page formula does not make sense. Here is an example: Monthly expenses Rent: 1200 Utilities/WiFi: 200 Consumables: 100 Start up cost: 3,000 (so let’s say 250/month for a year lease). This includes furniture, electronics, multiple sets of bedsheets, cosmetic upgrades, kitchenware, towels, etc etc Insurance: 50 Total: 1,800 For a 3 bedroom 1 bath house, we get about 80 in the low season and 100 in the high season. There are special events where we can charge 300+ a night, but that is only for about two weeks out of the year. There are also times in low season where there is higher vacancy. So let’s say an average of 90/night. With 90/night, you would have to be booked for 20 nights a month to just break even. If you are booked completely the entire month, you will have a profit of 900. This doesn’t take into account Airbnb fees, taxes, or management fees if you choose to hire out messaging or pricing. Airbnb is a lot of work. Even if you automate check ins, messages, and cleanings, you still need to be available 24/7 in case something happens. I’ve had guests message me at 5 am because a light bulb is burnt out and they want it fixed immediately. I’ve had guests who can’t figure out how to work an electronic keypad or tv, despite manuals and video explanations. My favorite was when we had a sewage back up into the guests shower, so at 10:00 on a Friday night I’m calling plumbers to bring their augur over, and cleaning up raw sewage. On top of paying the plumber extra I also had to refund the guest a portion of their stay for the inconvenience. My second favorite is when we had a group smoking meth in our basement and broke all the beds. :) Anyway, my point is that when there is a sewage back up the guests are going to call you, not the landlord. And you might have to pay to fix it, even though you don’t own the property. If the stove breaks in a regular rental on a Saturday, the landlord can take a few days to get a new one. If you’re renting it out on Airbnb it needs to be fixed immediately or else you will need to refund your guest. If you find a landlord willing to let you Airbnb our their place, is the landlord going to fix the stove soon enough? I have had months where we have broken even, or only made a couple hundred in profit. But we are happy with it since we are at least still building equity in the houses because we own them. If you are renting the house and break even, or worse at a loss, you have done all of that work with zero profit to show for it. So if you live in an area where the numbers work, go for it. But also consider what your time and energy is worth. As others have said, is the risk worth it? For me, the amount of time and risk that goes into an Airbnb only works if I own the property and can increase my equity. I would be better off getting a second job at the gap than using Brian pages formula.