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All Forum Posts by: Ryan Moyer

Ryan Moyer has started 11 posts and replied 851 times.

Post: How short term rentals can change you.

Ryan Moyer
Property Manager
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 866
  • Votes 1,266

You really think copy/pasting some ChatGPT basics is going to generate realty leads for you?

Post: Vacasa stock price dips below $1, in danger of being delisted

Ryan Moyer
Property Manager
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 866
  • Votes 1,266
Quote from @Esta Ryder:

I do feel bad for the people who have stock in the company


No one to blame but themselves.  For the first time in 15 years the fed isn't waiting at the door to rescue people from making stupid investment decisions with no due diligence and even 5 minutes of due diligence into this company should have scared any reasonable investor away.

Post: Anyone else feeling the market pick up?

Ryan Moyer
Property Manager
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 866
  • Votes 1,266
Quote from @Luke Carl:
I just got an email from Airdna that said things are up about 15%  

I didn't read it but it was nice to see.

I'm seeing business as usual for my properties for the most part.

Full article was nights booked up 15% YoY, but available listings up 26% in the same time period, for an overall decline in occupancy rates.

Same story as every AirDNA report the last 9 months or so.

Post: What's my next step after firing my current PM?

Ryan Moyer
Property Manager
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 866
  • Votes 1,266

I don't think your experience with your previous PM was normal.  There are a lot of people that use PMs and never do anything other than collect their checks.  You could always give the PM route another shot and see if you can find one that's more hands off.  You shouldn't have to manage your PM.  That's the whole point of a PM!

As far as arbitrage goes, you'll have a tough time getting an answer on that on these boards as almost everyone here is a real estate investor and not an arbitrager.  Personally I am not as against it as most on this forum are.  I know the STRs I manage with cleaners/handymen in there every week are in a lot better shape than most of my friends/family's LTR's when a tenant checks out after doing 2 years of who knows what in there.  But you'll run into the same problem with arbitragers as with PMs.  You need to find a good one.

Post: Creating a lease agreement for Airbnb and short-term rental hosts

Ryan Moyer
Property Manager
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 866
  • Votes 1,266

What is the additional tenant insurance/protection?  I would think that would limit a majority of potential renters and make it less desirable to an arbitrager.

Post: Does VRBO charge renters a fee for making tax remittances

Ryan Moyer
Property Manager
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 866
  • Votes 1,266

I just double checked mine and on my listing the percentage is the exact same as Airbnb.  Both 13.5% in Osceola county, FL.

Post: Is Booking.com a good platform to use for hosts?

Ryan Moyer
Property Manager
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 866
  • Votes 1,266
Quote from @Joel Case:
Quote from @Julie Chai:
Quote from @Joel Case:

I have been online with my STR for seven months and have had 2 or 3 bookings come from Booking.com. The guests seem to expect a hotel like experience as far as communication goes, but the guests I have had have been great from Booking.com. My crappy guests (but also the majority of my revenue) have all come from AirBnB.

I'm going to hang in there for a few more weeks and see what happens. I just received my 2nd booking on booking.com yesterday for a one nighter (2 adults, 4 kids)....hopefully they'll be ok.  Since Booking.com now has an option to discount rates depending on how many guests stay...I realized that's what happened with my first guest (that left my door wide open after checking out)!  They only listed 2 guests to get the cheaper rate. So I've opted out of that option now and even raised my prices $10 more a night compared to my AirBnb rates.  I'm hoping this will help filter out the bad ghetto guests.

 I have also learned through experience not to be the bargain option among comparable homes. Now I regularly review my prices among my 3-4 direct competitors and adjust my prices to ensure that I am not the lowest priced option whenever I can prevent it. But I also make sure that my property has the most amenities as well, so it's not targeted at the budget shoppers. 

I use Hospitable for a channel manager and it supports AirBnB, VRBO, and Booking.com so I have listed on all three. It also allows you to set a percentage differential for pricing between platforms. 

 Were you able to get the booking.com messaging working on Hospitable?  I went through the setup process meticulously like 5 times, and it says everything is fine, support thinks everything is fine, but I don't get any booking.com messages in Hospitable, nor do the automated messages get sent out.

It seems like quite the hack/workaround they have set up with booking.com so I'm wondering if it really works reliably at all.

Post: Rate My Response to a 4 Star Guest Review

Ryan Moyer
Property Manager
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 866
  • Votes 1,266
Quote from @Andrew S.:

I know that it is all about getting those 5 stars, but I have to say for that particular review, 4 stars seems very appropriate to me. 


I disagree with this part, just because of the way Airbnb's review system is set up.

Airbnb will deplatform a listing that has a 4-star review average (actually, 4.2 or below).  By Airbnb's definition, a 5* review is "this place was acceptable" and anything below that is "this place is so bad it should be banned from being listed on Airbnb".

Historically, the way this would've been handled by a guest is a 5* review and then private feedback about those issues. Or maybe even mentioning them in the public review, but still 5*. Especially since mattresses are such a personal preference that can vary by person. It sounds like the host was using the Zinus memory foam mattresses that almost everyone in the STR space uses.

Airbnb has seen an influx of hotel travelers lately that are used to a hotel ratings system where 5* ratings are reserved for truly blown away expectations, 4* is pretty good, and 3* is average.  In any given market, around 80% of the hotels have a 4.2 rating or below, which by Airbnb's definition would mean 80% of hotels should be shut down.  But now so many hotel travelers are entering the STR space (especially with recent rate declines alongside oversupply) and rating similarly even though Airbnb's review system is set up such that an average stay is meant to be 5*.

If Airbnb is going to keep trying to capture the hotel market they really need to do something with the review system, either revamping it or making it more clear to guests.  I think I went 250 5* reviews in a row prior to recently where I've seen an uptick in 4*, often for things that are clearly hotel expectations, like the most recent one of a guest mentioning they loved their stay but were annoyed the communal pool area didn't provide towels and towel-drop and they had to take the towels back and forth from the house and dry them in between uses.

Post: Is Booking.com a good platform to use for hosts?

Ryan Moyer
Property Manager
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 866
  • Votes 1,266

Been on there about 6 months, not one single booking.  On properties that stay pretty booked up too.  Maybe that's why, but surprising they're always booking elsewhere first.

I do price a little higher on booking.com to account for the fee, but it sounds like most people do that too, so not sure why my places are an afterthought there.

Post: How do you know the rules and regulations regarding STR in various areas

Ryan Moyer
Property Manager
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 866
  • Votes 1,266

Read the county/city website, then call in if you have questions.  They're usually happy to help people that are trying to follow the rules.