All Forum Posts by: Mark Futalan

@Gulliver R.

We have 2 properties in neighboring La Quinta. Rates and bookings have definitely slowed but in normal non Covid times, August-September and some October are typically slower. Definitely not what we’ve been used to seeing from the past 2 years. If your a new listing, I’d definitely try to get as much 5 star reviews first and be lower than your competition on ADR.

@Nicole Masters

Thanks! That's good to hear! There are definitely hoops to go through in the STR landscape but if you can find the right opportunity, get the permit and follow the rules set forth in that particular market, you'll be set!

@Nicole Masters

Hi Nicole! Thanks for connecting! Yes I own 2 STR's in La Quinta and bought them in 2018/2019 and have been renting them as STR's since then. Both have pools and close to the festivals and tennis gardens. We do really well but unfortunately the city put a permanent stay moratorium on new STR permits. I guess that's a good thing for us in terms of saturation/competition but I do know of many folks that had to convert to 30 day plus rentals because they didn't get their permit in time. I was looking at YV as an STR opportunity for a while and have been following things. Hopefully they do open things up, fingers crossed! Keep us all posted on things!

@Nicole Masters

Congrats on the house, it's unfortunate about the permit hopefully they open things back up soon. It seems that the city of YV is receptive to STRs. I'm out in La Quinta and they put a permanent moratorium on new STR permits this past summer. I know of many folks who were on the same boat as you out here. Hopefully that's not the case in YV. Would be curious to know what happens!

@Patrick Bergeron

There is a 45 day moratorium on processing any new STR permits which most likely will be extended to address and tighten up STR regulations. YV and JT have been a really hot market I heard YV was processing 6 new STR applications per week this year. Hopefully it doesn't end up like LQ where they had the same moratorium and ended up deciding to not allow any more STRs except in certain tourist commercial zones and home shares.

@Rohit Sharma

30 days or more rentals are considered long term rentals and do not require a short term rental permit. It may have to be greater than 30 days (like 31) to be within guidelines.

@Rohit Sharma

I'd recommend self managing as 30 day rentals or more are less work/communication than an STR. But if your goal is to be completely hands off, try doing a local search on Yelp or Next Door. Unfortunately I don't have any direct references for 30 day plus rentals.

@Noah Chojnacki

I prefer to buy STR's in non hoa communities because you never know if the hoa later decides to change things on you. The only rare exception would be if your in a true vacation rental market and most if not all homes are STR in that particular hoa community.

@Leon Lee

We own an STR in the desert on a golf course. At the beginning, I noticed a lot of pests around the property (scorpions, spiders, beetles etc). We hired a pest control company that comes out once a month to spray the property. It's helped out a ton and we haven't had problems. If your having issues with pests, I'd definitely recommend getting this service. We pay $37/month.

@Jonathan Farin

Hi Jonathan, I'm a real estate STR investor based out of the Palm Springs area. Like you, I have a full time job and also a family. I recently got my real estate license and signed up with eXp literally a few weeks ago. The reason I signed with them was the flexibility, technology and virtual cloud based platform they provide. I'm still learning and by no means, am I an expert, but I really like that I can do things on my own terms. Happy to chat if you need anything. Best of luck to you!