All Forum Posts by: Lisa Graesser

Not everyone leaves reviews. More indicative would be to look at the availability on their calendars. Good luck!

Depends on where your rental is. Some platforms are more popular in certain areas. Research what other people are getting for rent in your area and then charge a little less, until you get some reviews. I think Airbnb is more popular for short stays ex. Less than a week.  You can post on different platforms and sync calendars also. I don't know of software that will list your property on different platforms, but if you list on VRBO, you have the option to also have it show up on other sites like Expedia and trip advisor. You will have to pay fees on most of the platforms. A new book direct site with NO booking fees is Houfy.com. Also check out podcasts like "the hosting journey"  "vacation rental success" "short term rental revenue" "get paid for your pad" and "holiday let success"   

How you remit taxes depends on the State that your rental is in. I don't rent through Airbnb, so I'm not sure if they remit taxes for you. Vrbo recently started remitting taxes in Florida where my rentals are. For the income outside of VRBO, I remit the transient rental taxes monthly, based on the income from the month prior, which is what Florida requires. You should contact the State tax dept. where your rental is and register your vacation rental. In Florida everything is done online and it is actually very easy.

@Andy Rouvalis How do you charge for your services? Is it  percentage of the rental amount or a flat fee? I have been think of doing this also.

The furniture you buy before your rental is offered for rent will need to be added to the cost basis of the purchase of the rental and depreciated over 27.5 years. If you can offer the house with old furniture then buy the furniture after you have offered it for rent then you may be able to deduct it in the same year, depending on the cost, there are new rules this yax year. You should talk to an accountant and read the books I mentioned before. It will help you understand and be better prepared when it comes to planning and paying your taxes on rentals.

I am not an accountant, but my understanding is that you have to add the expenses incurred before offering for rent to the cost basis and depreciated, not deducted. You should be able to deduct a certain amount as start up costs. Good resource is of course an accountant but read the books "Tax strategies for the savvy real estate investor" by Amanda Hann and Nolo's "every landlords tax deduction guide" and "Tax guide for Short-Term rentals"

Thank you!

I have done that in the past and won't do it again, I think they are just shopping around. Tell them that you currently have renters and are unable to show it and that your pictures are a good indication of what to expect. 

I just had this same request recently. I told them that I have a no refund policy that is stated in the agreement and that I would normally give a refund of what ever I could get if I could rent out the same time period, but because it was so close, that it would be unlikely. I did offer to refund the cleaning fee because I would not need to do an additional cleaning. They ended up not canceling.

@chris connolly first year I did the taxes with a rental, turbo tax sent me in the wrong direction (because I answered a question incorrectly) and I ended up filing a schedule E and schedule C,  giving me double the deductions, (I thought wow I am really getting a tax break with this rental) ended up owing what I should never have gotten in the first place, but I hope to never have to face a tax auditor again. Gruelling and many hours of preparation