All Forum Posts by: Nancy Bachety

Yes, it’s possible. You are self managing. You are managing Guesty and your cleaners. You are communicating and spending time doing this. It is essential that you track your time, the actual time of day, number of hours including quarter and half hours. If your partner is also doing this (and partner isn’t your spouse), you must be sure you personally are doing/tracking work, at least 100 hours to be materially participating. And yes, it needs to be actual and real. It does not need to be a contemporaneous log but obviously it’s likely to be more accurate, and acceptable, by the IRS.
I sent my log to the IRS in August. They told me they received it and it’s still pending. 

If the faucet has the scald guard on it (new ones do) it will shut off if the water is above 120. Then they think you’re out of hot water. Raising the temperature makes it worse. Most installers remove this (or tell the homeowner how to for liability reasons) scald guard making it another ridiculous safety requirement. 

I can't help you specifically but for we use universal and security first for STR and LTR in FL, three different locations. It's annoying but depending on your address and insurance needs, there is no blanket answer. We use two brokers, Brightway and A and B insurance in Jax.
Personally, before we complain about increasing insurance costs, we take it into account and add it to our base price. It’s the cost of doing business, like $300 a turn for cleaning or $100, depending on location and if it’s a 3000 sq foot house in FL or a 177 sq foot cottage in Sag Harbor. 
insurance rates are unpredictable right now in FL, unfortunately, and the cost of doing business. Can’t be more helpful than to shop around. 

STR's have been around in many markets for longer than you've probably been alive, or investing in any thing. They just looked different then. Lots of good input on this thread. Do your HW, history does mean something, unlike what another person said. It's never a predictor but it's an indicator. To know where you're going you have to look at where you've been.
And run your numbers. 

Thanks for your offer and welcome to BP. Do you have expertise in STR's?

Looks too vague. You’ll need times not just a round numbers of hours.

We use Stessa. I’ve used my own Excel spreadsheet too but found that Stessa links to all my credit card banks and checking accounts. Does Excel allow for linking them too? Stessa allows for uploading files such as insurance documents and receipts. I’ve wondered if excel does that too, probably does. 

At PGA National the HOA's have monthly minimums. You can cover your costs if you rent it out 3- 4 prime winter months. Sawgrass is probably the same, not sure. PGA National is highly rated and sought after for rentals. You'll have to go through the association who collects 10%.

Guesty for hosts excels in this category and it’s made managing cleaners infinitely better.