All Forum Posts by: Mark Futalan

@Curtis Marker

They are doing well. Unfortunately the city has a 90 day moratorium on any new STR permits at the moment as many investors and 2nd home owners have been purchasing homes recently. It's a hot market for sure and with the pandemic and ability to work remotely, the demand is through the roof. Our peak months are typically the first quarter of the year with the tennis tournament and Coachella music festivals being lucrative events for us. Hopefully things get back to normal next year!

@Steve Foust

Forgot to mention each desert city has their own regulation. La Quinta has a 90 day moratorium on any new STR permit as they try to tune their STR program. Cat city made headlines recently and said they would be phasing out STRs over the next 2years. Palm desert now restricts STR in most residential R1-R3 zones but there are a few that fall in not zoned R that are not hoa but can be challenging to find. PD cape our last week that they are looking into possible restricting those zoned in these areas too but nothing definitive.

@Steve Foust

Hi Steve,

I have 2 STR's in neighboring La Quinta that I've rented on a hybrid approach of short term and month to month leases. We are seeing increased demand for furnished monthly leases. Snowbirds do typically book on the winter months. I just locked up a 6 month lease at premium rates through the end of February next year. It sill be available again for short term rentals during the tennis tournament and Coachella music festivals next year should things get back to normal. Indian Wells may be a tough situation because you are limited on 30 days stays or more except for the tennis tournament which I believe allows 7 day stay minimum. The only way you'd be able to enjoy it is in between leases if you staggered it out (Ex: lease ends 5/31, new lease begins 6/8 etc). Best of luck.

@Derek Miller

We have designated stock supply closets that hold our extra bedding, towels, refillables- toilet paper, coffee pods, dishwashing pods etc. These are locked and only our cleaners have access to. We also have our own personal locked closets that we keep our own things whenever we stay and visit the home. We don’t let guests park in the garage too.

@Alex Kovalenko

I'd definitely prefer to stay away from HOA's as rules can change and you have more restrictions on what you can and can't do with your property. I know there are some areas and communities like in Hawaii that are specifically zoned for STR's and may be in HOA communities but HOA fees are extremely high. So keep that in mind. If you can find a place without all the restrictions, that would be preferable.

@Chris Mury

Our cleaners supply all cleaning supplies. We only provide a vacuum and supplies to be refilled (toilet paper, dish soap/pods, coffee pods, paper towels etc).

Agree with what most people say on here. Talk to your neighbors. Be a responsible property manager and be pro active reaching out with your contact information should there be any issues and explain that you’ll take care of it right away. When I started my 2nd Airbnb rental, I had a bad guests at the beginning playing loud music. Neighbors complained. I ended up talking to them, tightening up my rules and expectations and things have been way better with no issues. Set your expectations and be neighborly with you neighbors. That can go a long way. Best of luck!

Longer night stays with a lot of demand. Rates are higher than what we’ve had typically during the summer here in the desert. We reached an all time high 122 degrees over Labor Day weekend and still booked!

@Wesley Myers

We use wheelhouse which charges 1% and we set minimum rates and sometimes set fixed rates for periods we know there is strong demand for. The program does the rest. Looking at other listings on Airbnb is also a good way to see price points and how booked others are at certain rates. From there, you can make your own judgement.

Invest in furnished vacation rentals! With everything going on right now with the pandemic, there is a lot of demand for month to month, 3, 6 and 12 month leases. I have 2 and use a hybrid approach of short term and month to month to 3-6 month leases and it’s been working out quite well.