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All Forum Posts by: Mike Shemp

Mike Shemp has started 25 posts and replied 380 times.

Post: STR by the room?

Mike ShempPosted
  • Rental Property Investor
  • Stewartsville, NJ
  • Posts 384
  • Votes 263

That is how Airbnb began, but not something I would personally touch just for the liability aspect of it.  

If you do, you should consider consulting an attorney to discuss what you should have in place, and make sure your insurance company understands the setup as well and the potential increase for that scenario.

Hope that helps.

Mike

Post: Advice on Mountain Home STR Necessities

Mike ShempPosted
  • Rental Property Investor
  • Stewartsville, NJ
  • Posts 384
  • Votes 263

We were in a similar situation where our cabin we purchased had a keroscene heater as its heating source.  We removed it, and when with 2 propane heaters (one for the basement and one for the cabin).

Some other things to think about:
- Hammock

- Bug spray

- Boot tray for shoes

- Snow shovels

- Coffee and condiments for when they are snowed in and can't get out

- Fly swatter for summer

- If no internet service, then consider getting Starlink.  Small investment but I think a big payoff if you have to advertise that you have no internet service.

Hope that helps!
Mike

Post: Airbnb Host and short term rental

Mike ShempPosted
  • Rental Property Investor
  • Stewartsville, NJ
  • Posts 384
  • Votes 263

In the beginning most of our challenges were just making sure we were following all the guest communicaton cadence, but that was when we did everything manually.

We use Hospitable, and it has helped with all of that so really the only piece left for me to automate is rental agreement automation, but I think Hospitable is working on that too.

Mike

Post: Should I stay away from STRs that only have 1 bathroom?

Mike ShempPosted
  • Rental Property Investor
  • Stewartsville, NJ
  • Posts 384
  • Votes 263

@Marc Shin

We have a 2BR/1B and a 1BR/1B and are booked year round, even during the off-season.

Post: STR in Cape Cod, MA

Mike ShempPosted
  • Rental Property Investor
  • Stewartsville, NJ
  • Posts 384
  • Votes 263

@Phillip Flakes

My brother owns in Cape Cod, and he is registered too and not in and LLC.

Hope that helps.

Mike

Post: Such a newbie, looking for advice

Mike ShempPosted
  • Rental Property Investor
  • Stewartsville, NJ
  • Posts 384
  • Votes 263

@Lacey Bediz

We started 7 years ago and went with our first STR in the Outer Banks. Then a few years later we opened 2 STRs in the White Mountains of NH. We buy them in markets we like to vacation in and visit ourselves!

Now we have been Airbnb Superhosts for 7+ years, and all 3 of our homes receives the “Guest Favorite” designation on Airbnb. Happy to answer any questions you might have about STRs.

Mike

Post: How to manage long distance STR as a newbie?

Mike ShempPosted
  • Rental Property Investor
  • Stewartsville, NJ
  • Posts 384
  • Votes 263

@Candor Real

Sure anytime - we’ve been vacationing in the eastern and western White Mountains for 20+ years, and can answer any questions you have about that market.

Post: STR Tips & Advice

Mike ShempPosted
  • Rental Property Investor
  • Stewartsville, NJ
  • Posts 384
  • Votes 263

Great tips for sure!  The other thing of course is location, location, location.

In hot or saturated markets, it seems the hosts all add similar amenities, so then it becomes a battle on reviews, pricing, and location.

A property in a great location (without all the amenities) can do just as well or better than a property with all the amenties but in a poorer location.  The host has to decide what their unfair advantage in the market is going to be (location, pool, hot tub, amazing view, high-speed network, great for families, close to everything, themed house, etc) and market to that.

Mike

Post: How to manage long distance STR as a newbie?

Mike ShempPosted
  • Rental Property Investor
  • Stewartsville, NJ
  • Posts 384
  • Votes 263

We own and self-manage 3 properties that are all 7 hours away from us.  We have 2 properties in the White Mountains of New Hampshire, and one property in the Outer Banks of North Carolina.  We self-manage, and are 7 year superhosts on the Airbnb platform, and all 3 of our properties also received the "Guest Favorite Award" on Airbnb.  

Here are 3 tips to consider from a remote superhost:

1.  Find an amazing cleaner and handyman.  You can do this several ways.  You can flat out ask other hosts in your market (who have really high ratings) if they are willing to share their cleaner and handyman with you.  The important part is to make sure you tell the host that you will let the cleaner and handyman know that they referred you to them.   This is important because GOOD hosts know that good and reliable cleaners and handyman can be hard to find, so they treat their cleaners and handyman lke GOLD, which includes referring business to them, paying them quickly and promptly, respecting their time, and taking care of them on the holidays.   If you are not comfortable asking other successful hosts who they use, you might want to look for a group on Facebook marketplace for your market and look for newer cleaner/handyman that are starting out and hungry for business and to do a good job.

2. Pre-schedule all your maintenance items and setup a re-occurring schedulea.  SIgn up for the HVAC yearly contracts.  Have quarterly pest inspections.  Schedule your house deep cleans.  Schedule your carpet and furniture steam cleanings.  Get your septic pumped out regularly.  

3.  Automate as much as you can.  I like the Hospitable platform myself and recommend it to others, but there are other ones too.  I use a combination of Hospitable, Zapier, and Docusign to cover 95% of the tasks.

Hope this helps.  Please feel free to reach out with any other specific questions.

Mike

Post: Looking for co-host

Mike ShempPosted
  • Rental Property Investor
  • Stewartsville, NJ
  • Posts 384
  • Votes 263

Hi Angela,

If you are looking for general mentoring and guidance on short-term rentals, automation, etc. I can assist.  We are 7 year superhosts on Airbnb, and all 3 of our properties received the "Guest Favorite Award" designation on the platform as well.  

Please feel free to reach out.

Thanks

Mike