All Forum Posts by: Jeremy Jareckyj

the absolute best thing you can to is try to find an investor friendly agent/and or STR property manager who owns/hosts in the market you want to invest in. That will beat AirDNA every single time because they can share with you REAL earnings.

AirDNA is a 5000' view and the more supply in your market the more data it will be able to give you which tends to be more accurate, but it is risky to purchase just on AIRDNA data alone.

In Salt Lake, which is my market, I help clients show the earnings of my own properties and the properties I manage (with approval from an owner of course)  so they get the most accurate represenation on what similar properties are earnings.

I would absolutely run both Airbnb and VRBO. I have noticed (at least in my market) that VRBO takes a little time to get going  but once it gets a good backbone built up, I get a good portion of my bookings from the platform!

I have some mid range and excellent VAs I am happy to recommend as well if anyone is in the market. I co host around 100 properties in Utah and have used VAs who are not as capable and some who are extremely capable (depending on your budget).

Agreed ! A good  CPA will be his best bet!

Airbnb and VRBO offer some protection in their hosting terms but yes, as mentioned above, you will want STR insurance coverage. I have a good contact that might be a good fit for you if you are interested! Proper and some of the bigger names have gotten a lot more expensive over the last few years.

I know a lot of STR investors who won't buy if the property doesn't make sense as a LTR.. but the one thing about that is that some of the more successful STR markets never will work at LTRs (Park City UT, Pigeon Forge TN etc) . There is much more to consider than it simply working as an LTR. I think the first comment from Nicholas L. is great. Does this payment make sense for my financial situation?

In Salt Lake, I try to target certain homes that could potentially be broken up to create multiple rentable spaces in the future that way you can transition from STR if there is ever a bust. I am also a HUGE supporter of getting an STR in an area where you can get a license for it. I believe that over the course of the next few years the non licensed STRs will continue to be slowly removed.

I use IGMS for calendar, cleaner notifications, and messaging and then wheelhouse for pricing. Been using them for year and they have improved ALOT and are still fairly affordable. I wish it had a little bit more connections with other listing platforms (Furnish Finder etc) but it does a good job. Shoot me a DM I'm happy to chat about my experience.

 I sometimes do it but it depends what management percentage I'm getting. If its lower, I'll have an agreement for the owner to pay soem flat software fees. 

Salt Lake Valley has a whole does not allow under 30 day rentals. The city will not actively pursue you unless you have a neighbor report it. There are pockets in the valley where each individual city (Sandy, Millcreek) has their own take on the STR rules. Most areas that allow you to STR will require the property to be your primary home or owner-occupied. There are very few cities in the valley that will issue you a business license to operate an STR.

I've had neighbors report STRs and the first thing the city will do is post an initial notice saying you need to switch to 30 day minimums. Now that the city is onto you, they will monitor that property by driving by and possibly even looking at airbnb platforms. If they find you are still not following the 30 day notice, they'll post another notice that if you don't abide by the rules there will be a fine per day for non-compliance . 

If you are operating without a license, your neighbors will have to not turn you in .