All Forum Posts by: Richard Ibeh

@Sheeva R. beach and ski has always been the motto. Guest want to vacation so need to position yourself in a vacation market.

@Brian T. Grooms I actually pitched to one of the sales directors to be a booking engine for management companies. My thought process was the mgmt team would be "powered by evolve" but they said it's not their model. Sad as they can make a crazy new revenue stream as the startup cost is not alot since they are only answering calls and sending emails.

@Peter Padalino you can easily add a fee to use the pool heater for $10-$25 per day. I've done that for multiple homes and no guest complained. During the summer months, no pool heater is turned on. Yes, you should buy a lock on your pool heater so you can control when it turns on/off.

@Brandon Cleeton If you still need some agreements to view let me know.

@Steve Enochs I've tried ALL of them and actually just demoed Kigo which I really like. The main thing about rental software is none of them are perfect. What works great for one investor or manager will be a major flaw for another. Choose the one that works the best for you and that's built for scale.  My main focus with any software is customer support and having a direct contact I can call. You never want to experience a bug that's making you lose bookings and all you can do is "submit a ticket".

@Joseph Ammar are you talking short term or long term rentals? Nonetheless if you feel that's a good investment that's great. I on the other hand have managed over 100s of units doing both long and short term in both HOA/Non HOA buildings/communities to think otherwise.

@Adam Harper No particular area to avoid within Broward County. Fort Lauderdale has the lowest permit fees and an entire department setup so it's a seamless process. All other cities are just implementing an STR policy so it's confusing because they are learning the industry and trying to setup laws around it. One year they might say wireless smoke detectors will pass inspection then the following year they need to be hardwired. (happened to me already)

For the pool, you either need pool alarms for all doors/windows facing the pool plus self-latching gate OR a pool safety fence (net around the pool).

I get contracted at least 2 times a week to assist owners/property managers in this aspect because it's a moving target.

I guess the discovery question here is are you looking at the Caribbean as an investment or a second home for yourself/family and rent when vacant?

That will help narrow down the questions - if an investment you'll focus on the high tourist area with major airports flying in/out, good local transportation system, less than an hour drive from the airport, a low crime rate etc.

If personal then you'll look for an environment that suits your taste (tropical, party central, secluded, dive-friendly, luxury, affordable etc).

Almost every island I've visited has realtors from America who decided to setup shop there and help out-of-state investors purchase property. I would google your destination and start reaching to realtors to get a sense of the real estate market and what's happening.

@Carl Mccrory I've managed homes in Destin and never had an issue. I personally haven't looked into the real estate there so I can't say whether $800 HOA condo fee is the norm but I'd least fine one cheaper (max $500) that has a wealth of offerings to guest to justify that fee.

Travelers are smarter these days due to Uber/Lyft etc so being right on the beach and 5 mins away will still provide same occupancy since it’s still easy for them to get there at a lower rate than being right on the sand.

@Carl Mccrory short answer is no. $800 for just HOA alone and you have to take into consideration, utilities, paper products, maintenance and (possible property mgr)...you're looking at about $2000+ just on expenses in the low season.

Much better off purchasing a house with low to no HOA and the returns will be higher.