All Forum Posts by: Michael Baum

Hey @Buck Dabill, let's back up a second. Where is it located? What lake? Do you have any photos you can post?

I wouldn't add any motorized toys. We have a lake front STR and no way I would have those available. I point them to the local watersports rental company that drops boats and ski's right at the local marina.

Regarding kayaks and bikes, that is a crap shoot IMHO. Yes they are a nice bonus, but you could find yourself on the end of a lawsuit due to a guest getting injured or even killed. Even if you write a bunch of text into a contract for those items, it probably won't matter much. Too risky for us.

Regarding additional guest packages, you can easily change your tax situation by offering what the IRS calls "significant services". It is a fine line really. I have talked at length with CPAs and IRS people about it and it can cause you a problem. I would check with your CPA before setting anything up.

If you are talking about referring people to local fun businesses like the boat rental, restaurants, amusement parks etc then there is no problem. If you offer a in house chef to cook meals, daily cleaning service etc. then that crosses the line.

So, where is it at and show us some pics. I think @John Underwood and I who own lake front properties might be able to help get you a baseline nightly rate.

Hey @Justin Melton, are you also on VRBO? You might be missing out on some revenue.

The revenue seems pretty good to me. You didn't tell us where you are located so it is hard to tell if you should try and find another place or not.

If the folks are just willing to rent, then finding them a nice rental seems to be in order. Then you can help them find a new place to buy or just keep renting. 

Hey @Tobias Joneses, so you just have to keep looking for the right deal. It is possible but I am sure it will take time in that area.

The STR "loophole" isn't a loophole. It is simply the law. It is working as designed.

Personally I wouldn't go for a STR in Longbeach. There are restrictions and unhosted seem to be illegal - https://www.longbeach.gov/globalassets/lbcd/media-library/do...

They say that it isn't specifically prohibited but it is banned by the omission.

So do ours. They drop it off at the dump area. We are rural so most homes don't have trash service.

We do as we are in the tiny town and the guests put the can out on Tuesdays. Otherwise she takes the trash with her.

Hey @Stephanie Medina, this comes up fairly regularly and is really an individual situation. Luckily you are in a better position than a lot of folks.

I like the idea of paying a neighbor kid. It gives them a bit of cash, some responsibility with little effort. I would introduce yourself to the parents (really all of the neighbors, it is a good thing).

The parents will help keep the kid on the straight and narrow plus it helps show that you are a responsible STR owner working within the community.

The other thing you could do pay your cleaner to come by on trash day, take it out then back in. 

Ok, @Dina Schmid, good luck with your new place!

Agreed @Bruce Woodruff. I also don't think VRBO cares either.

We are in the same boat regarding pics vs reality. 

We constantly get the comments that it is much better than it looks which I prefer.

So here are some links to read up on the topic @Mark Miles

https://www.zillow.com/learn/how-to-make-a-virtual-tour-for-...

You can go over to - https://matterport.com/ and create a free account. You can play with it and build up a 3d walkthrough. It is free to post it if you use your cellphone camera.

https://lapentor.com also has a free use for basic. It appears you can publish and post but there isn't many other features.

Ok @Dina Schmid, what is the PM charging you? What do you get for it?

I am assuming you know it will lose money most likely?

What is the nightly rate they are charging and how much is it less than others around it?

Hey @Dina Schmid, everyone had some good ideas but...

No cats. They are much more allergenic than dogs overall. If you are also allergic to dogs, then no pets if you want to use it regularly.

Where are these bookings coming from? VRBO and AirBNB? If so, those bookings and the accounts go away. You will need to create new accounts. Then you can manage the calendar. You can just have people rebook if they want.

We bought our lake house for use to use on occasion as well. Frankly we don't use it as much as we thought. We haven't stayed as guests for 2 years. Our calendar fills up fast 9-12 months ahead of time so we have to plan that far ahead. Oftentimes the rest of our family can't make it so we just keep renting it and go somewhere else.

I am thinking you will find that will happen as well.

Can you tell us where it is located? What is the current nightly rate?