All Forum Posts by: Dominic A.

Been using August locks for 3 years now, started with a few condo rentals and you're right; they don't draw any attention and they're the best fit for that type of rental. I've used the Schlage for "standalone" STRs, but have now switched everything over to August for simplicity. They sell the locks with the wifi bridge built-in, a little bit more expensive but I find them to be much more useful (seems like 1/6 guests decide to unplug the bridge and forget to plug it back in before they leave).

I've noticed that Switchbot now has a lock option with a similar setup. Haven't tried it...but it does look promising if you're going to be the only person controlling the lock (ie guests won't need access to the app). 

I also use the keypads so that I can send out custom temporary codes. Not being able to have a code is why most Owners/Managers don't like the August lock; so I find the keypad add-on to be a major benefit. It also connects with Airbnb (and a few PMS systems) to auto-generate codes...makes things really easy. Obviously, that can be a challenge for your condo situation, but I would definitely recommend if you have other STRs. Worth noting I had a lot of trouble with the keypads and rain, if you go this route you'll want to look at a cover (I found a 3D printed one for $10 on etsy, problem-free ever since)

If you're doing just the lock (which it sounds like you almost certainly will be) do you know what your "workflow" for the check-in process is? I'm sure you've already come to this conclusion, but in practice, most guests WILL NOT download the app. When they buzz into the building I unlock the door remotely and then there is a set of keys (with an apple key tag attached in case the keys are lost). A similar process for cleaners, they buzz in and we unlock the door (although "staff" should consider downloading the app).

One last note from my experiences, guests will sometimes get into the building without buzzing or show up way early or way late. Doing the keyless entry thing means you should have a plan in place for these eventualities (it's why I love the keypads so much). Could just look like leaving the door unlocked after your cleaners leave (for same-day arrivals) but that of course begs the question of why you'll want the lock in the first place.

TLDR: August Lock has been my pick for 3 years and was certainly the best option for Condos 

We load up the rental prior to arrival and wait for the guest to request anything additional they need. They usually don't ask, most staying that long have an expectation that they'll need to pick up supplies at some point. It's nice to have extra items close by just in case though. 

Good idea to make it clear the communication channel is open throughout the stay as well. Most guests staying more than 7 days become pretty self-sufficient but as with any type of property management you'll want to have a plan in place just in case.

Sorry for the delay, 

I manage remotely. Your property manager (or whoever sets up the system) will just need to use your account or offer you access to the Eero.

Similarly, I use Arlo for my camera/security (they, like the Eero, are an Amazon product so it all works together pretty easily). Many of the wireless systems like Ring or SimpliSafe will offer the same access from afar though. You made need a subscription if you want to monitor remotely, but if your property manager is local they can stop by and check the "base station" (even from the driveway..it works via wifi) for local recordings if you need to review activity. With a string of break-ins, the subscription/alerts will be well worth it I think (that's my preferred option for cameras at vacant/priority rentals).

My "janitor keys" are locked to a Bluetooth key tag and each one has a label that only I can understand (it's supposed to be a code myself AND my team can understand...but I get calls all the time so I need something easier I guess lol). With that in mind...it's still totally possible to run into a problem.

We inventory the keys as they come and go, and we always have an idea if something has gone missing (sounds like you did this).

We use a keyless system for STRs, but if a guest requests a key we do provide one. Has a key been stolen or lost in this case? Yes, 7 times.

Whenever possible, we use locks my team knows how to personally change (my favourite type are the ones where we can swap out the full cartridge for another). That way, if we need to, we can ensure the lock for that unit is completely different in a matter of minutes and all we need to do is switch the keys out for our management set (I also like to tape keys to loose cartridges/locks so we can easily reinstall them somewhere else later). We essentially play a shell game with our locks and it seems to keep folks guessing.

There is surely another expert of BP who will tell you why this is a really stupid system. But, so far it's a system so stupid it's never been cracked. 

If someone has a better story/plan I am now also very curious and invested.

I've seen this explode. But, let's be optimistic.

Avoiding luxury (or buildings in general) would be my main piece of advice. Your instincts are correct, those locations/buildings will be the most attractive to STR guests. If you don't own the unit or building though it's a higher risk. Especially for a first-time outing. You have more neighbours, more costs out of your control, and more risk of the guests getting lost or locked out...it's a much much higher risk.

If you can't own, then look for the single-family or duplex rentals and appeal to owners of those types of buildings. If you can find a nice home close to parks or downtown THAT will be an actual premium STR.

In terms of the pitch to the owners/agent; you should tell them your plan before even viewing the space, and you may want to look at a profit share model to sweeten the deal (full rent and/or a % of monthly earnings (whichever is higher) complete with monthly reporting for the sake of transparency). Press on the fact that you would be an incredible "tenant" who would be cleaning the inspecting the rental every few days.

There's always going to be a risk if you don't own, but I assume you know that. Just be prepared to "pivot" (and it helps if you have a plan for how you'll move/store an STR worth of stuff if things change suddenly). STR arbitrage isn't easy money, but the people who do it well seem to be able to spin gold...so I'm not going to tell you to quit your dreams just because I'm cautious.

I have helped shut down arbitrage rentals at the last minute. It happens, frequently; but those folks just move on and set up shop somewhere else (and they take much nicer vacations than I do lol).

Repeating the above, for one property you likely should look for free options. This will take a bit more setup time at the beginning but saves you money in the long run. 

You can set up auto-replies in Airbnb and VRBO. I also like Booking.com (though the setup is a bit more involved and the guests are generally less familiar with STRs).

If you're using a cleaner, I have always loved cleaning apps for that. I suggest Turnoverbnb or Properly (which I believe both still have free tiers for single properties).

What are you using for locks? If you haven't bought them already, I would examine the apps before you buy..that'll tell you which one is the easiest to work with for STR. August will integrate directly with ABB, so you'll just need to stay on top of VRBO and other listings to make sure they get codes.I have had terrible luck with the August keypads because of rain, but I bought a 3D printed cover and haven't had a problem since. They'd be my recommendation, but I've heard from many people who love the Schlage locks (that was my go-to at one time as well).

We had a group of STRs that used August locks (no keypad). The manager would unlock (from their phone) for the cleaners and the arrival of the guest. Once the guest checks-in they find a key inside the rental and they simply leave the key behind when they leave. I'm partial to the keypad option, but there is way less tech support in this approach (not a bad idea to have a lock you can rekey yourself or a tracking tag on the keys in case they get lost or...go missing).

Bookkeeping, I think your current setup is ok. I created a subcategory called "Short Term Rent" just in case I ever need to drill down on the reporting. Depends on how you want to track things, but I also create a separate property for the rental (so as an example, if 12 Flagstaff is the original building; "12 Flagstaff - ABB" is the new property that I am assigning toilet paper expenses to)....might help you keep track of things a bit better.

If you are thinking about the future, you can still copy and paste the auto-replies and build into the paid side of the free apps at a later date.

If you really want to spend money at this stage in hopes you can scale faster, I've had good luck with Hostfully and Hostfully Guidebooks (using stripe as a payment processor) it's newer and not as pretty as the larger companies, but a great place to start and the support team has been amazing. I also use Pricelabs for rate changes. These are very recent additions to my "tech stack" after managing STRs for 5+ years. They've certainly stepped up the process quite a bit, but having to do "host" tasks manually can be a great learning opportunity.

@Ryan Moyer is right, you've listed the reason people don't like them. That's the answer.

Are they wrong/misunderstanding the issue? Probably. Keep in mind that they also don't get to make as much money as you're making off of STR success. Even the local cafe that all your guests or tenants go to...they don't get the same value out of that one person as you do.

In real estate investing in general you run the risk of being made to look like the bad guy for any number of reasons (most connected to the independent frustrations and insecurities of those complaining). Just don't give in and become the bad guy (failing to understand the other side of things is really risky, so it's good that you're asking the question).

If they hold a town hall to run you out of town, attend. If they pass a new law that ruins your business model, move the business or change it. 

We had 12 high-volume STRs come under fire when Covid set in because the Condo boards complained about safety (and to a certain extent the concern is understandable). We fought it as much as reasonably possible, then packed up and doubled down on the rest of our portfolio. Didn't lose any sleep and now we know the local condo market isn't the right place for our STR investment.

People are always going to complain about landlords. Just don't give them any real reasons, and you can continue to lead a happy and productive life.

@Dave Stokley and @Nathan Gesner are superstars here, listen to them.

Social media ads aren't going to be worth the time (unless you offer some kind of unique getaway type experience). Keep your listing up to date and looking good.

Minimums are key, you'll want to encourage longer stays to fill in the calendar (and save yourself/team from having to do tons of running around and laundry). You can probably let the calendar fill up a (little) bit first though. You won't make the kind of progress these pros have, but you'll get people into your rental for a stress test which is also valuable.

The first big step is to adjust your weekday rates. This is harder to do with the Airbnb system (as opposed to a pricing tool (which you don't need yet)), but not impossible. You just need to set your weekend/weekday days and then I would suggest doing a % increase/decrease. Keep an eye on it as well, the first couple of months should have you checking on it like it's your email inbox (assuming you check your inbox at least once a day). Airbnb has a great price tool, but it can miss local events/changes. You can "set it and forget it" eventually, but for now, don't be afraid to watch things a bit and make changes where you're seeing the potential for growth and improvement.

You don't mention it here, but I presume you have professional photos? It's shocking what a difference those make. Key tip, be prepared to stage the property a bit for the photo shoot as well (a pro real estate photog will mention that). Many future STR guests want to be able to map out the space in their minds and make plans for how they'll utilize the space (particularly for weekday/business travellers). It's true for Hotels, but MASSIVELY more true for STR that the more info you're offering potential guests the better your results will be.

@Dave Stokley has got it pinned. 

Best to find your own people, it can take some work but eventually, you'll find a core group of cleaners you can trust and rely on. We usually have one key cleaner per rental, they get first right of refusal for each cleaning in that unit. If they can't commit to cleaning the "project" goes out to the wider pool of cleaners. Has been working great. 

Each unit has a flat rate negotiated at the beginning of the relationship, attached to a standardized checklist (same job each time). If they have extra work because of a big mess left behind they can message us and we MAY offer more, but it's rare (sometimes it's an easy payday some days it's tougher...it works out if you're fair with the flat rate to begin with). 

I have tried companies twice and they have both been awful. They want to do things their way and charge more for it. Messes up the system and throws my STR schedule into chaos (not to mention the cost lol).

The checklist is a vital part of your standardization and quality control (/price). Properly is a great app and I loved it. We found Turnoverbnb offers superior automated scheduling and a few other features we really liked (inventory, optional in-app payments) so we've switched to that (Properly is really the superstar of the space though, you can't beat their visual checklists).

 I've had a few people push back on price or tell me they don't want to use an app, those people aren't the right fit for the job. No hard feelings, just not the type of cleaner you'll be looking for.

If you haven't already, it's worth investing in the full set of cleaning supplies for the unit (or a centralized "always accessible" area). That way all your cleaner needs is a smartphone with the cleaning app and a commitment to making your STR sparkle. The convenience of that can save you on the Flat Rate amount.

Another quick tip: When Covid set in we also started leaving behind a preformatted card with a quick list of what was cleaned/sanitized that the cleaner just checks it off, signs and dates and then leaves its on the kitchen table next to our guidebook. Guests love it!

Agree with @John Underwood

We've done two of these and (though some agents don't love it) we simply set up a one-day turnover gap and scheduled viewings for the open days. Obviously, that move cuts down on your revenue, but if you're getting out anyway this will be the best option for all. No need to mention it to guests in that case, business as usual. 

Worth noting we looked at a motel property a few months back and they took one room type of each offline one day out of the month and scheduling viewings for that day. Serious investors understand and will make it work (STR guests just want to relax and feel safe/secure)

@Angie Castro is also right, if it's been a decent Short Term rental there are likely off-market buyers who will snap it up and agree with whatever schedule they need to follow.