All Forum Posts by: Jon Martin

Quote from @Kate Stoermer:

Most people are going to buy based on total cost, not the breakdown. Just list it as an additional fee for the HOA. Provided its not pushing your total price into an entirely new price tier, it should be fine - but I don't know your market so if pricing is very inelastic you'll need to monitor closely and potentially test different models.

This. The market determines the going rate, not your expenses. Econ 101.

If the price is per night, you can pretend to add it to your cost basis for the nightly rate. If it's per stay you can itemize it as suggested above or lump it in with the cleaning fee. Either way, you are competing with other units that don't have that expense, so the price guests are willing to pay is irrelevant to what your expenses are. 

Quote from @Collin Hays:

Probably does not matter. Folks surfing for properties online seem to be pretty good at math.

 I would disagree. This is the same country where A & W introduced a 1/3 lb burger to compete with the Quarter Pounder, only for it to fail because the average consumer thought it was smaller.  

Consumers in general are tired of junk fees, especially with several years of inflation. Airbnb has been taking heat on social media for fees so they are now wrapping it all in, while VRBO still has itemized fees that are confusing. Smart move IMO

If the game room opens out onto the pool/hot tub area then that is a great setup!

Agreed with @Bruce Woodruff to go all in on a game room. If you need to pare the bar down to make room for tables I don't see an issue, but some bar seating is nice so that people have a place to sit if they aren't playing games and/or between shots on the pool table. 

I use duvets and wash them after every guest. That way the bedding looks, feel and is clean every time. 

Comforters take up a lot of space in the washer so washing them after every guest is impractical. 

Makes sense. To clarify, I am not trying to circumvent safety or liability and would not obscure or alter them in any way, mainly looking for models that come that way out of the box. Safety first always, especially when it comes to fire and CO. Would be hard wired as well.  

The ones I have at home (Kiddie) don't blink so they aren't offensive so I will probably stick with those. The ones that do blink are an abomination and the people who design them that way should be put on trial for crimes against humanity. 

Anyone found a Carbon Monoxide/Smoke Detector combo that does not have standby lights that are constantly on? I have found some that at least do not blink, but would prefer one that doesn't have a light on at all. Thanks in advance

You can control that one remotely correct?

OP- smart locks will do this for you, but only on the door which it is installed. 

Quote from @Heidi Fischer:

STR 1 had the $40k improvements-furnishings but also a new HVAC, garage conversion and 5k in landscaping. Thanks again!! I know who I’m calling for the 2025 tax season:)

Year 2 and onwards is the average divided over the course of 38 years for everything that does not qualify for bonus depreciation (15 year IIRC) plus the remainder of the 80/60/40/20 that would qualify for bonus depreciation but is limited to the percentages above. It is not as substantial as year 1 but it is something. 

From what I understand, you can start the depreciation process in a later tax year. 

Quote from @Collin Hays:

Quote from @Jon Martin:

I don't really like the idea of owning in a community where all of my neighbors are encouraged to be STR owners and basically have the same property as me. Makes it that much harder to differentiate and stand out. Sounds like a recipe for a race to the bottom, unless it is somewhere with high demand that can absorb all of those additional units.

 We manage a property in this exact situation. All of the properties are basically identical, and the cheapest ones win the bookings. That has always been my beef with condos. They are just a commodity.

Agreed . . . Only possible exception would be if it is truly an A+++ location, such as in front of a highly desirable beach or other amenity coupled with high demand.