All Forum Posts by: Karen Chenaille

Hello!

In the next 6 weeks I plan to put three new units into service as STR's. I will be using HomeAway and Air BnB as my channels. I already have other properties up on Air BnB. Does anyone else out there use a channel manager? If so, would it be worth it for just two 'channels' or am I better off going direct to the sites?

I am also considering investing in having a website created for direct bookings. I am curious to know if the fees saved are worth the investment and infrastructure cost (web site creation, credit card processing fees) to set up the website.

Thanks!

Karen

Hi Folks,

I recently took my listings down from HomeAway because I was so frustrated at my inability to match the 'deposit' amounts shown on their excel export of revenue to the amount deposited to my bank account.  In only about 40% of reservations was I able to make a match. I searched the web looking for someone else who ran into this problem, or who could decipher it. I didn't find much. Many of you are HomeAway/VRBO veterans.  Wondering if anyone has figured this out?

Thanks! Just love this group :-)

Karen

Hey Folks!

Thanks for the replies!  I am going to try Shoeboxed. 

Have a great Easter!

Karen

Hello! I am looking for recommendations on the best receipt tracking app that will allow me to export data my accounting software. We use QBO plus but some of our expenses are paid for with our personal accounts which are not linked to QBO so we can’t solely use QBO app to track them. Thanks in advance! Karen

Get paid for your pad is an awesome resource.  There is a podcast too by the same name. Listen to the earlier episodes. The recent ones are geared toward folks who have been in it for a while. Good luck!

I use Lockstate. They can be managed remotely and they integrate with you HA and Air BnB reservations.  They are ok as long as your WiFi is reliable. Their tech support has been atrocious. We are buying 4 more units. We will be trying August locks on those. I have heard from other owners they are great. 

Self management from afar is totally doable. The key is screening the right person locally and establish a great relationship with them. You want to compensate them well because it is an insurance policy that your rental will run smoothly in your absence. I too am willing to share the apps I use and my compensation and interviewing strategies. 

Hi!

On both air BnB and Homeaway you can get an idea of how well your listing will do. They both have calculators that are based on occupancy and rental data from their databases.  Do a search on ‘air BnB income potential ‘  the link to the tool should come up. Same thing for HomeAway. 

I am in SW VT. Nearest ski place is about 40 min away. I didn’t think we’d do all that great, but it turns out, if you price correctly, the bookings come. We are also busy in the summer with hikers. We have another place we bought right near a ski mountain. That one is absolutely killing it. We covered our entire annul carrying expense in January alone. We haven’t owned it through the summer, so I don’t know how it will do.

If you haven’t bought anything yet, I would definitely get something really close to a ski resort. At least you will be booked for three mos solid. That should easily cover your costs and summer season vacancy. 

All the best,

Karen

Hi!

Air BnB does nothing to make sure you will be in the clear with local zoning and regulations. They put that risk on the listing owner and the preponderance is on you to do your homework.  I cannot stress enough how important it is to check if the local laws and regs allow it. If you are doing the lease solely as an investment for Air BnB income make sure the leasing company knows your plans. It would stink to get tied up in a lease only to discover you cannot air BnB the space.  

Not to mention the hit to your Air BnB host rating. 

Karen

@Pat Heidingsfelder.I PM'd you...