All Forum Posts by: Joseph McCrillis

@Paul Dashevsky Hi! I have a property in the SFV that I’d like to consider SB9 with. 

I live in the front house and we have a guesthouse in the back that I was short term renting. The city recently came and is requiring me to bring it up to code. That guesthouse has been here since the 50’ as it’s on record, but has no permits or CofO  

If I permit it as an ADU, I can no longer short term rent it. It was a good moneymaker for me and I would love to continue short term renting. Do you know if I go the SB9 route, might I still be able to STR? Or does LA exclude that as well?

You mentioned that you have an architect you recommend in this area?

Thanks! 

Joe, If I am understanding you correctly, this is a misunderstanding of how the airbnb payout works. 

When you get a property manager or Co-Host and they are paid out through the Airbnb platform, you will have to choose within the Airbnb platform to pay the PM/CoHost 1 of 4 different ways. 

Cleaning fee only 

Percentage only

Percentage plus cleaning fee

Set amount 

If you selected “percentage plus cleaning fee” your payout would look like this…

let’s say you rent the home for 1 night at $100 and you have set a cleaning fee of $75. 

Airbnb would take 3% of the $175 leaving you with $169.75

Then the cleaning fee of $75 would come out and be paid to your PM to pay the cleaners with. 

That leaves your reservation payout with a balance of $94.75. 

Then airbnb pays you out $77.70 And your PM $17.05

So your PM collected $92.05 ($17.05 plus the $75), but should only be left with $17.05 after paying the cleaners. The PM would not be clearing $92.05. 

Everything I described is if this is all happening from within the airbnb platform. If your profile is not on the listing and the pm owns the listing, then my response is useless lol

@Michael Smythe Sent!

@Steve Kiser are you still doing this meetup?

@John Cornelius if this is still happening, let me know where to get on the list. 

@Michael Smythe Wonderfully written! Any chance we could see your 14 page management contract...even if just privately?? Thanks :) 

I self manage several properties out of state and I have my tenants set up their autopay through Azibo. It has been great!

All my 2020 and 2021 expense records (receipts, utilities bills, Insurance etc) all go in a folder in the garage never to be seen again. I am about to start using Quickbooks to track everything better and get more organized. Just wondering if it is worth scanning everything so I can find every expense from years past on a hard drive.

@Scott M.

Organizing is not my forte and I'm going to try a new method as my current "method U sucks big time. Before I try both methods to see which one is better and/or more efficient I wanted to see what works for others. Your input was not helpful.

Method A-each prop and all its items together  

Prop 1 receipts

Prop 1 hoa

Prop 1 loan

Prop 1 tenants 

Prop 1 etc. 

OR 

Method B- All common items from all props together

Prop 1 hoa

Prop 2 hoa

Prop 3 hoa 

Prop 1 loan

Prop 2 loan

Prop 3 loan

Prop 1 tenants

Prop 2 tenants

Prop 3 tenants