All Forum Posts by: Shelby Pracht

@Luck Manuel oh also the Westin is planning a remodel soon that I believe is supposed to be in the 20-30k per room price range, so I'm assuming that's part of the reason why some of these units are getting offloaded now. Owners that are part of the rental program are required (I believe) to participate in the remodel and that's definitely a chunk of change.

@Luck Manuel we just took on a Westin studio about a month ago.

We've been avoiding them for awhile because of all the restrictions against self management. The on site management takes 60%, but if you self manage your guests aren't able to use the valet, shuttle, concierge, front desk, pool towels, etc etc. We thought guests would really struggle with being in a hotel environment but not able to run down to the desk to ask questions or get whatever they needed. So far we havent had any problems but I'm sure we will at some point. Hoping that the higher returns from having a "luxury" unit right in the village will outweigh to headaches I'm sure we'll encounter.

@Matt Ayoub I gave up on white linens after about a year and throwing away 15+ items. I know people say you can just bleach things, but some stains just wont come out. I'd rather have super clean dark linens than constantly throwing away white stuff, or having slightly discolored white stuff from trying so hard to get stains out.

If anyone has a surefire away for getting blood or waterproof makeup out of white linens completely, hit me uppppp!!!!!

We actually use Target Room Essentials for towels and sheets. The microfiber sheets feel really soft, don't wrinkle easily, clean well, and are really inexpensive. The towels aren't the softest, fluffiest things in the world, but they're not awful and scratchy either. They come in some benzoyl peroxide resistant darker colors which means I have had to throw away a lot less from staining.

I live in an area without any box stores at all, so I also like that target does free 2 day shipping and 5% off with their red card. (Ps their paper towels are normally cheaper than Costco)

We have 10 units and have been in operation for 4 years. That's what we found to be most effective so far.

We had a toddler slip on ice and break her leg in the common area of our condo complex. The parents are suing, and they contacted us about it, but thankfully it was outside of our actual unit so the homeowners association is dealing with it.

@Ken Latchers wow that's...impressive?

@Kyle Ransom your costs are going to vary wildly depending on where you are and what you need. There are plenty of threads about furnishing a rental you can read up on.

Things to think about:

Transient occupancy taxes, inspection fees, business licensing fee, etc

Utility costs, which will be much higher than average bc people use your property like a hotel

Laundry costs

Consumables (tp, paper towels, shampoo, soap, dish detergent, sponges, cleaning supplies, etc)

@Jeremey J. Ask a local host!

Find an investor or local host in the area you're looking in and shoot them a message, definitely be the easiest way to get a good understanding.

@John Underwood I feel the opposite, if my nightly rate is the same, I make the exact same amount of money per night for a one night booking as a 7night booking, and my cleaners are always thrilled for the extra work/money.

@Luck Manuel hey Luck, have you tried Shelly Logemann at RPM mortgage? She does a ton of work in Mammoth with the condotel units and is great at getting the numbers to work. We've used her a couple of times now.