I am turning over my rental to prepare for a new tenant and noticed how worn the bathtub doors look (scratches in the frame, discoloration along the sides, door comes off the track when closing, soap scum build up).

You can bypass all the prep and wipe down the cabinets with some soap and water and spray away or a sponge roller will give it a somewhat sprayed on smooth look.

I'm going to work with them because I have cash reserves (and I bought some SPY puts to weather the market crash) and I wouldn't be able to fill the unit anyway with the Illinois shelter-in-place order going into effect until 4/7 (just announced).I don't know about you guys, but the last thing I want when this is all over is either a tenant I have to evict because of a global crisis completely out of their control or one that resents me because they had to prioritize rent over food/soap/necessities.You guys do you, but it's insane to me that people are considering punishing tenants because their entire industries are shutdown, especially when all you guys are going to be sitting on your hands for months with pissed off tenants that you can't evict anyway.

And to wrap it up before I get off my soap box:- I like a lot certain areas of Dorchester, specifically zipcodes 02125 and 02122 to the RIGHT of Dot Ave.

A shortage of litigation and someone peaking over one's shoulder doesn't give anyone the excuse to break the law.I now decend from my soap box.

This includes the basic starter supplies they leave for the next guests - soap, trash bags, etc.

Total Cost: $65,000 + closing costs-------Monthly Total Rent (based on ten comps): $3,162MONTHLY EXPENSES based on current rentalVacancy Allowance 26% (conservatively based on ten comps): $822Utilities (15 trash, 100 electricity, 50 gas, 65 water, 80 internet): $245Supplies budget (dish soap, etc) $30Groundskeeper/Repairs (5% gross income) $158Capital expenses reserve (5% gross income) $158Quarterly maintenance fund (5% gross income) $158Insurance $671.2% Property tax $60TOTAL MONTHLY EXPENSES: $1,698------Monthly NOI $1,464Annual NOI $17,563Cap rate (NOI/ total cost): roughly 27.02% (closing costs TBD)Two specific questions:1) I would like to finance this deal via private money.

OTA/channel markets are the equivalent of selling your soap at Walmart: if you want their customers and foot traffic you have to play by their rules.

In my opinion, one of the great things about STR is that there is a wide range of accommodations, in a wide geographical area, with differences in property condition, size, location, cleanliness, amenities, etc.  85% of motels/hotels are basically the same, the major differences in many of the lodgings newly built seem to be the number of bars of soap offered in the bathrooms, and whether the property is served by two elevators or three.  

I'm working on Welcome Packages for new tenants that include a small basket of gifts like soaps, shower curtain rings, flowers, etc.