All Forum Posts by: Sid Payne

The Ubiquiti stuff is rock solid as well, we use it for tons of our clients in my IT business. It can be a little more of a setup process, depending on the model. I would highly recommend their stuff as well.

I would also second setting up two separate networks if possible. Folks are used to being on shared networks in coffee shops and such but separate networks would be much more secure.

If you can't wire both sides to their own router (could be the same account and connection with a firewall routing to each side via Ethernet), I would put in something like this so that you have maximum reliability:

https://smile.amazon.com/Google-WiFi-system-3-Pack...

I have these in my personal house and they work extremely well and are very stable.
I would just distribute them evenly throughout the floor plan. You could always add a 4th one if needed.

 As others have mentioned. There is a huge convenience factor. However, I would also add that with the system I use, I can set temporary codes or codes that only work at certain times.

Every one of my guests gets a different code that is specific to their stay. It only works for a couple of hours before and after checkin/checkout. I think this gives everyone more piece of mind. This code is also the one they use for the security system so same goes for that.

Because you can set permanent codes to only work at certain times of the day I can, for example, have a code for the pest control guy that only works from 8am to 6pm. This would prevent easy entry for someone who has that code after hours.

The system also allows me to lock, unlock, arm and disarm the system remotely as well as see which door or window someone might have left open. My A/C shuts off if a door or window is open for more than 3 minutes. I have had situations where a guest says the A/C is not working but that all windows and doors are closed. I can look and see which one they missed and they can close it without sending my property manager out.
Those are some of the basics but overall, I can't imagine remotely managing a property any other way.

I heard Berkshire Hathaway might be in this market. Has anyone worked with them?

@Erik Kuhi, I've got a great team down there for just about everything, including management. I do all of my own bookings and they are my boots on the ground (I'm in Colorado). PM and I will give you their contact info. I've been working with them for a couple of years and have been very happy.

Are you only expecting 153 nights of occupancy? That is less than 50%. Are you trying to be overly conservative or do you think that is all you're going to get? I try to have 50% be my break even and then I typically achieve 75% to 95% occupancy. However, my market might be different (Central Florida).

We have stand up arcade games in addition to other things mentioned above. Folks love them. I've had no problems with them.

I would recommend doing a lot of research on Vacasa, I have heard very mixed opinions on them.

The cleanings shouldn't cost you anything, they should be built into the revenue. My guests pay for their cleanings and I think that is typical.

Your pool maintenance seems high compared to what I pay in Florida.
Just because he has future bookings he will turn over to you, that does not mean that is what it will do year after year. Also, some of those folks may cancel any you will be on the hook for returning their deposit.

20% for full PM seems low to me, I thought they were more like 30%. Also, is that PM company going to be doing your bookings and managing your guests from start to finish? If so, what is there incentive to book you over other clients. I do all of my own booking management and do not trust anyone to that side of the business.

Do you have any STRs experience? It is a great business but very different from anything else. If you don't, I would probably recommend starting with something a lot smaller to get your feet wet. I've been doing this since 2015, have 4 properties down there and that big of a property/payment would make me apprehensive.
Where in Florida is this property?

I am a huge fan of ownerreservations or OwnerRez.

They have a lot of features, are reasonably priced and I have been very impressed with their customer service and tech support.
I use it to manage all of my automated guest communications, electronically signed rental agreements and a lot more. They also have widgets for inquiries, calendars and more that will work with just about any website.

They are an integral part of keeping all of my stuff organized.
Good Luck,

Sid