All Forum Posts by: Leslie Anne Morris

This is a tough one that comes up a lot for us.  We take a security deposit off platform (allowed by Airbnb in their policy) and this way we do not need to utilize Airbnb's insurance and guests know we have the deposit and it results in better care of the properties.  Taking a security deposit is easily accomplished with a property management software, which are honestly super cost effective and easy to use once learned.  It is worth looking into if you list on multiple OTAs, or increase past one or two STRs.  Follow the normal channels for collecting what is necessary and be transparent with your review.

Sounds like you already decided to keep the property. I would reach out to a local property management company and have them put together an ROI calc on how the property could perform, this should be easy for them to do for you (then you can analyze and decide if you truly want to go STR route or sell).

Try more pest companies.  I am in the Smoky Mountains, and we get crazy pests out here, they can usually be handled by routine pest control.  Definitely up the ante on your insurance policy, I recommend Proper Insurance for folks who are short-term renting their properties.