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All Forum Posts by: Tyler Solomon

Tyler Solomon has started 27 posts and replied 209 times.

Post: Reserves and Expenses for STRs

Tyler SolomonPosted
  • Lender
  • Austin, TX
  • Posts 223
  • Votes 244

Jonathan - typically STR's will have higher need for repairs than long term rentals as there is greater turnover, and thus greater opportunity for both wear and tear and bad tenants that occupy the space. However as with most things, this is not exclusively true. One poorly vetted LTR tenant can cause absolute havoc on a property (there are horror stories posted through out the site on this).

Below is a solid post that might help answer your questions

https://www.buildyourbnb.com/b...

Post: I removed my cleaning fee - 2 week experiment!

Tyler SolomonPosted
  • Lender
  • Austin, TX
  • Posts 223
  • Votes 244

another option could be reduce the cleaning fee to just $1, or $.99. This way people take note of the fact the cleaning fee has effectively been reduce / eliminated, rather than not seeing it all together. Just a thought, curious how this plans out.

Post: Lake Travis near Austin, TX and Hill Country

Tyler SolomonPosted
  • Lender
  • Austin, TX
  • Posts 223
  • Votes 244

Keegan - I live right here in Austin, often spend time out on lake Travis. Biggest complaint is that the lake is consistently less than even 80% full during the summers, which affects peoples doc usage. Have you ran the airDNA on it yet? Happy to answer any other questions you have!

Post: Streaming services in your STR?

Tyler SolomonPosted
  • Lender
  • Austin, TX
  • Posts 223
  • Votes 244

Staying in an airbnb today, no steaming services / live tv options available.

Do you provide these in your personal strs? Just curious. 

Post: Looking For a San Antonio AirBNB Monday, 1/9/23

Tyler SolomonPosted
  • Lender
  • Austin, TX
  • Posts 223
  • Votes 244

Title says it all - if you have any recommendations for a short term rental for this coming Monday (1/9/2023) (1 night stay) in San Antonio - shoot me a message/reply. Need 2 beds at least, 3 would be ideal.  Would love to stay in a forum members place if we can - if not ill pick one randomly.

Post: Looking to start STR using leased apartments

Tyler SolomonPosted
  • Lender
  • Austin, TX
  • Posts 223
  • Votes 244

what @Nathan Gesner said. Tons of post in the forums about this - look for STR Arbitrage to find what you are looking for

Post: What Metrics Do I Look At To Know A Deal Is Solid?

Tyler SolomonPosted
  • Lender
  • Austin, TX
  • Posts 223
  • Votes 244

My main metric I look at before any other return measurement - Can I cover my debt service (Principal, Interest, Tax, Insurance, HOA)

Post: Where to look for a cleaner

Tyler SolomonPosted
  • Lender
  • Austin, TX
  • Posts 223
  • Votes 244

Facebook / ask other local operators who they use if they self manage.

Post: VRBO Guest - damaged our place and harassing

Tyler SolomonPosted
  • Lender
  • Austin, TX
  • Posts 223
  • Votes 244

Not worth your stress. Learning lesson and move on - your time is too valuable to waste on stink guests. They wont be your last either, so find out how to hammer down your verbiage in the listing so that disputes like this do not arise again, and there are clear and definable consequences and rules.

Post: How Do You Stay Up To Date With STR Laws?

Tyler SolomonPosted
  • Lender
  • Austin, TX
  • Posts 223
  • Votes 244
Quote from @Eliott Elias:

Call the county that makes code changes and new laws for STR, get close to the council member or employee who handles this. Go to city hearings about this and actively be on top of voting changes.


This - plus find locations that are generally STR Friendly vs those that are not.