All Forum Posts by: Jon Martin

$93k/year in Kalamazoo Michigan?! LOLZ

1-2 hours is rough, I would comp them at least half a night stay. Also, plus 1 on having a backup lockbox. 

On a side note, is there no remote app for the Schlage Encode where you the owner can unlock it? If not, score one for the August, and maybe look into that.

I've heard at least 14-15 days booked/stayed. Not sure if it's a hard/fast rule because like everything the IRS can always deny/audit and then it's on you to make your case. Best to overshoot it as much as possible and spread between at least 2-3 guests. 

Quote from @Sarah Kensinger:

I would highly suggest contacting a professional that services hot tubs and ask them. You should be hiring someone experienced in hot tubs to do maintenance anyway. There have been several people that have become severely sick or even died due to a hot tub not getting proper maintenance. You don't want that to backfire on you and/or the cleaner. And since the question of news links comes up regularly, I'm sure I can find the news articles about that when I get the chance if someone would feel more comfortable reading them....

I don't doubt these stories have happened but that sounds like a case of severe neglect, not from changing the water every other guest as opposed to every guest. I doubt that hotels and gyms change theirs that frequently. 

That said it sounds like the BP standard is to change with every stay (assuming it gets used). 

Curious to hear because I might do a hot tub at my next listing. Seems like a lot of work that maybe isn't necessary as long as you have good filtration and the water looks clear? 

Is there a difference in how often this is required with ozone vs chemicals?

I change linens and zippered duvets every time. Buttons might be easier because my cleaner complains about it. Might help to get the next size up for the duvet over the comforter to give it more wiggle room. 

Quote from @Adam Macias:

Short terms rentals are absolutely not saturated or limited in opportunity. I know people who work for Airbnb and they need millions of STRs because of the demand. They ain't even close and anyone telling you otherwise is talking out of complete ignorance. You'd have to be a fool to think there's no opportunity in STR/MTR right now.

I've noticed that the new host referral bonus has increased from $500ish to over $700 in the last couple months. 

Like everything it is highly local market dependent. There is no overarching STR market just like there is no broad housing market. 

Love their double wall coffee and espresso mugs/glasses. Stays super hot, but way too fragile for an STR.

Really like those coffee grinders, would add a nice pop to the coffee bar. 

Thanks for posting!

Quote from @Michael Haynes:

Hello Henry Lazerow in Chicago. You should watch Nick's ReventureConsulting youtube video, "Airbnb owners are about to Sell (Massive Housing Crash

 ". . . . . could be as bad as the subprime crisis" 

LOL!!!!

Almost nothing is "Recession Proof" but you are certainly better off trying to rent an easy to drive to STR than a condo in the Caribbean when times are tight. Just like people don't stop eating meat, they eat ground beef and chicken instead of rib eyes and filet mignons. The caveat is that you need to have bought right so that you can lower your prices and pay the bills, and also have desirable attributes that make your place standout. 

I would respectfully disagree with the "only buy in vacation markets" advice. Lots of people jumped into a small handful of markets where there are no other strategies/exit plans, whether that be from that type of advice and/or herd mentality. There are plenty of places where the price to entry is reasonable and the return potential is good, and you don't have to compete with hundreds (thousands?) of units with amazing amenities and live models in their professional photos. Just be sure to read the fine print and buy in areas where the prevailing politics tend to be favorable. If there are county wide regs I would avoid it like the plague, but if you can park just outside the city limits and still be close to the action you are good in lots of areas.