All Forum Posts by: Account Closed

I think this is a creative avenue to still generate revenue without running into lodging laws but still very much in its beginning stages. It could be done in addition to Airbnb but no way replacing the revenue.

Michael McKay I also posted this on a couple of Airbnb forums with NYC hosts as well.

Run a report on eliotandme.com to see an average of what your property can generate for revenue. Before you go in this direction ensure that it’s worth it financially. You also have to factor in the other costs of operating a property, cleaners, linen, terry, property upkeep, higher utility bills, impact on neighbors, check local laws to ensure it’s allowed and what stipulations are in place if any, spend some time on Airbnb and I would even recommend staying at a few to see what the local competition brings to the table. Columbia also has a pretty strong economy and mid scale hospitality market which will probably undercut your pricing so understanding how to be different and add the perceived value which will allow you to charge more. There’s also another site called airdna that gives you more of a detailed report if you are still looking to move forward. STR can be great money but it’s not easy work until you get your system in place. I’m more than happy to be a resource as I’m familiar with your market. Good luck and happy hosting!

I operate both in STR and traditional hotels. Be aware of your local laws for residency and if you are really worried about it don’t rent your place for longer than those days. As far as your current tenant I would start counting down the days till he checks out. “Hey, it’s 7 days till you are set to check out, is there anything you need assistance with before then?” And so on at 3 days and the night before. Day of checkout show up at departure time with your cleaner or anyone you can have as support in case things turn for the worse and if they do DO NOT hesitate to contact the police, explain what’s going on and let them do their jobs. Let’s hope you are just nervous and it all pans out smoothly.

Start with getting an estimate from your floor guy, you will need this regardless if you choose to collect compensation via Airbnb, depending on the depth you might be able to buff it out or even patch the damage. If that’s not an option Time is of the essence and filing a claim before your next guest so it won’t be left on you to prove who did what. Good luck and may I suggest some area rugs to minimize the risk in the future.

Currently the laws for STR in Los Angeles is pretty tough. I work with investors and owners in the area that have had to close properties due to the new regulations. Since she isn’t looking to list the property full time this won’t be as big of an impact but as previous responses have said, do your homework. There’s also other options hat you can look at like Corporate rentals that allow you to rent for a higher price point than LTR but still for less periods of time than an annual lease. If you have any STR questions feel free to reach out, don’t worry I won’t require you to book lol.

Airbnb has its positives and negatives just like VRBO. For me, it’s a vehicle to drive in more bookings and I weigh out the risk vs reward. I list on numerous sites and sync the calendars, wherever the money comes from doesn’t make as big of a difference to me as long as I’m able to generate the highest revenue per booking after commission.

As the previous responses stated it really depends on the area. I list on everything from Airbnb to Homeaway to Booking.com. I even get into the specialty platforms like CanadaStays and MisterBnB. What it really comes down to is what you are looking to get out of diversifying your listing platforms. For most 1-3 are more than enough to fill the calendar up but that usually consists of Airbnb, HomeAway, and TripAdvisor. These 3 platforms equate to 73% of all bookings and they’ve spends more than enough to ensure that they maintain that share. What you also need to think about is not just where you list but WHAT you list. Quality listing, professional photos, strong focus on cleanliness and consistency. If you haven’t already there’s tons of information, videos, websites, guides, etc to educate yourself here on Bigger Pockets. If you have any questions I’m more than happy to help out. Good luck and happy hosting!

Ryan Smith You can easily find a co-host via the Airbnb platform if you go into the hosting tab you will see a link to find co-hosts via the platform. For local hosts, depending on the level of involvement I’ve done flat rates or a commission split. It’s what you are comfortable with. I would be happy to walk you through this if you would like.

Ryan Smith I do STR Property Management, while I’m all for new clients and growth I’m more for STR owners making the best decisions with Properties. Depending on your current setup you may not even need a full time property Management company. To operate 2 locations you really need to have a reliable cleaner or 2, sync calendars on booking platforms and download the apps to communicate with guests. At the very most if you don’t want to be hands on having an online co-host would be much cheaper than a full time management company that can run you anywhere from 20-50% of booking revenue.