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All Forum Posts by: Jon Martin

Jon Martin has started 32 posts and replied 969 times.

Quote from @Ken Boone:
Quote from @Denis Ponder:

I can see VRBO trying to protect their brand and set a bar of excellence with this.

However, it also makes you wonder if they are being rated accurately.  If multiple guests have a terrible experience and rate those accordingly, this should resolve itself.  If someone comes by after that and books a 2star property expecting 5star service, that's their fault.

They are trying to turn in to AirBnb…

If they want to do that, at least improve on the interface/user experience. VRBO's is a decade behind AirBnb in that regard. 

Quote from @Christine Cho:

Yes, it was the penalty I paid for not being firm and not knowing what do to...it seems like alteration request being used as way to get more refund is not new issue, and until Airbnb fixes this hosts have to be aware and plan for the course of action and stick with it.

Agreed with the above- unless there is an extenuating circumstance where the blame falls on you then you don't owe them anything. They've already blocked dates off your calendar that you most likely will not fill on short notice. These types of people are never satisfied and probably make everyone around them miserable with their constant back and forth with everything. 

The only times that I've allowed this was a situation where there was a cleaning or a maintenance issue, which ultimately falls on me.  In that case I don't go back and forth, I simply tell them they can have a refund for unused nights if they leave immediately. 

@Angela Marquez ok that's where the confusion is. From what I can tell there is no need to upload a formal rental agreement on your end. You put your house rules in the listing and the platform walks them through it. 

Are you looking to find a long term tenant on airbnb? I think there are better sites for that, you will lose a lot to platform fees. 

2 properties in Greenville SC. Thankfully both are undamaged but power is still out. Of course I had guests checking out and back in on Friday . . . Sigh. One in on standby in Clemson and ready to move in, was supposed to stay through the weekend but I will probably have to refund them everything or close to it. Getting lots of inquiries from neighbors and people from Asheville leading with "do you have power". 

Reminder that some geographic diversification in my portfolio would be a good thing. 

Quote from @Garrett Brown:

I would never do alcohol and only do popcorn bags/rice krispies as a small welcome basket. Too many liabilities, as everyone mentioned, and it far outweighs any positive it could have. 


Microwave popcorn from Costco is the only food item I do. I applaud the efforts of others but I don't feel the need to supply a bunch of snacks, especially with a larger home where I would have to leave a lot for everyone. I don't like the idea of staging photos with flaming hot cheetos against my new penny tile backsplash, but then again I see other listings getting mentions in the reviews so who am I to question it?

Post: Negative Cashflow - STR

Jon MartinPosted
  • Posts 979
  • Votes 839
Quote from @Joseph Shuster:

Thanks all this is good insight I’m feeling the same about holding.


And for marketing to weddings we are trying but having trouble, any insight on that would be very helpful.


There has to be a dominant website out there for wedding venues, just a matter of finding it. 

Quote from @Garrett Brown:

Hey @Devin Bost, I would highly recommend a few things to help with this. 

1) Have systems and processes lined out for any emergency you can think of.

This . . . Setup your property so that emergencies are avoided in the first place. Be sure to have redundancies for lockouts. Place "how to" signs next to any complicated amenities and front load your messages to make guests aware of any quirks. 

Most issues will pop up in the first few months as guests use the place regularly, so have a good relationship with a handyman and maybe throw him some small jobs so that he will be on standby when needed. Beyond that, there is very little to worry about in terms of "off hours" emergencies so long as you are proactive with maintenance. 

Post: 6 month STR season

Jon MartinPosted
  • Posts 979
  • Votes 839
Quote from @Andrew Steffens:

I manage a few properties in coastal NJ and the season is 3-4 months.  If you are good at managing a budget I think this is fine.


I agree, especially somewhere that is barely habitable those other 6 months, which describes the UP of Michigan quite well. Unless you are near a ski hill, there are very few reasons to be there at that time. 

That said you certainly need to manage your cash well in order to cover the bills in the down season. 

Quote from @Benjamin Louie:

It's definitely a case of people jumping in without fully understanding how drastically different the STR market is from a few years ago. A smarter approach would involve thorough market research, realistic projections on occupancy rates

That, and not taking the furnishing/decor and management aspects of it seriously. They put their old hand me down furniture and cheap plastic Dollar Tree kitchen utensils in there, pass off the management to Vacasa or Evolve, and expected to make a killing. Those days are done unless you have a property in an A+ location. 

"and understanding that not every location is still a goldmine for STRs"

IMO the goldmines are the places that you don't think would be goldmines. Everyday mid-sized cities with growing populations have people traveling to them for all sorts of reasons. Especially with a bigger home. I'm getting weddings and events on weekends booked well in advance and work crews working on new construction booking mid-week. 

Plenty of listings with cell phone pics showing basic interiors in my market have the top 10% trophy and well-populated calendars. Those are the markets I go after, because if I go a few notches about that I know I can easily be in the top 5%.