All Forum Posts by: Tim Welker

As an owner, I like the Ecobee remote thermostat for monitoring the settings, but I would never override it when a guest is there.  I do find it interesting what temperature they choose to set it at.  90% of the guests are quite reasonable.

Joshua,

Thanks for the link. We set up the LLC more for financial separation vs personal asset protection.

Joshua,

My wife and I have 3 STR's. 1 in Missouri and 2 in Florida(1 is a condo and one is a house). We did set up a separate LLC and purchased and manage our properties finances through it. Our condo insurance has $500K of personal liability, and we also have 2 umbrella policies. 1 for Missouri and 1 fore Florida. We set up our LLC up front and it really wasn't a big deal. But was advised to also carry umbrella personal liability. Neither are that much and we feel we are well covered.

@Sarah Kensinger Both Destin and PCB are easier to get to. Plus PCB's airport has been made more accessible with more direct flights. There is a lot of planned investment in PCB, Dolly Parton, the Margaritaville development, Top Golf, in addition to all the things to do there. While it's the 5th most crowded beach, its 27 miles of almost westerly facing properties offer beautiful sunsets. The recent STR numbers have softened due to saturation, but quality properties are always going to book.

Yes, it's great analysis. What's been the growth in STR's in this market in the past 12 months? How saturated is it getting? How much of this history is a predictor of the future? What are the indicators in the area that cannot be found in the data, that say this is a good place for STR's in the future?

Thanks everyone for the meaningful responses.  Very helpful!

 Thanks Ken!

Our property manager is recommending a glitzy, non-personal name for our Short-Term Rental on the beach.  My wife and I would like to incorporate our grandchildren's name into the property name to make it somewhat personal and "beachy".  Do renters really care?

I've done both the $40 / month per geography on AirDNA(it's easy to cancel and what's $40 when your investing thousands, if not 100's of thousands of $'s); along with the manual method of analyzing like properties in the area and found AirDNA to actually be more conservative(but accurate).  Also, always get the actual property history and run your pro-forma's to to validate everything.  

Quote from @Collin Hays:

Quote from @Tim Welker:

Quote from @William Beck:

What's the % Vacasa quoted and what's the local PM Charge? I know Vacasa does a different % based on market which could be worth looking at. 

 William, good to see a fellow Missourian respond.  They are both quoting me 18% at this point.  But, I'm learning more about how the big guys add on "processing" fees.  So far I've asked for references from both and only the customers for the "small guy" have responded to my e-mails with positive comments.  

 Collin H.  thank you for sharing!