All Forum Posts by: Patrick McCabe

In addition to the great tips already mentioned:

Vacation Rental Success Podcast by Heather Bayer is an excellent resource. 

3 keys for happy guests that leave 5 star reviews:

1) Super clean property

2) Quick responses to inquiries

3) Exceed guest expectations (1. provide great pictures to attract guests but be sure they do not deceive the guest in terms of size, condition, etc. 2. Provide something extra that guest doesn't expect)

Good Luck!

Thank you everyone for your input!

@Nicholas Aiola I am looking for an accountant to help me with my STR business. You seem to have excellent knowledge in the subject. I took a look at your website. Is the best way to discuss further by scheduling a call with you?

I purchased my property in October 2018... however I did not list it on Airbnb until January 2019...therefore I had no rental income in 2018.

Can I still deduct expenses such as mortgage interest, property taxes, depreciation, etc. for my 2018 return?

I understand I cannot claim these losses against my other income but was wondering if I would be able to carry them forward to offset future rental income.

Thanks.

Is it a common practice to be required to pay both sales tax and hotel tax with STR? I was looking into a STR property in Pennsylvania (PA sales tax is 6% and hotel tax is 6%). I was assuming only the hotel tax of 6% would apply to STRs and not an additional 6% sales tax. Am I wrong?

When I look at listings on Airbnb in PA, they only charge the state hotel tax of 6% (Plus additional local hotel taxes if applicable)...Am I still responsible for an additional 6% sales tax?

Four of my siblings and I want to buy a vacation home that we will use personally as well as rent out. All 5 of us will be on the title as owners. We plan on using the rental income to pay for the mortgage. In order for each of us to claim a share of the mortgage interest deduction, do we all have to be on the mortgage as well?

Hmm...such language would concern me. It doesn't mean they are a bad property management company but it certainly gives less value to reviews of the company since it appears you are only receiving reviews from people who had good experiences and nothing from people who may have had bad experiences.

If I read correctly...a review that they are not happy with has 72 hours to be removed. Perhaps if you check back often you may be able to catch a bad review. Unless of course there really aren't any! ;)