 Short Term Rentals (by Ken [NY]) Jul 22, 2021 8:08 PM
 Short Term Rentals (by Allym [NJ]) Jul 22, 2021 8:17 PM
Short Term Rentals (by Richard [MI]) Jul 22, 2021 9:24 PM
Short Term Rentals (by 6x6 [TN]) Jul 22, 2021 10:19 PM
Short Term Rentals (by Ken [NY]) Jul 22, 2021 10:34 PM
Short Term Rentals (by Still Learning [NH]) Jul 23, 2021 7:20 AM
Short Term Rentals (by Smokowna [MD]) Jul 23, 2021 7:25 AM
Short Term Rentals (by Plenty [MO]) Jul 23, 2021 8:31 AM
Short Term Rentals (by Rangor [TN]) Jul 23, 2021 8:47 AM
Short Term Rentals (by Dan [NY]) Jul 23, 2021 9:02 AM
Short Term Rentals (by Deanna [TX]) Jul 23, 2021 9:13 AM
Short Term Rentals (by Ken [NY]) Jul 23, 2021 1:59 PM
Short Term Rentals (by Vee [OH]) Jul 23, 2021 5:49 PM
Short Term Rentals (by Barb [MO]) Jul 23, 2021 6:44 PM
Short Term Rentals (by Robin [WI]) Jul 23, 2021 6:51 PM
Short Term Rentals (by BRAD 20,000 [IN]) Jul 23, 2021 11:49 PM
Short Term Rentals (by Ray-N-Pa [PA]) Jul 26, 2021 9:54 PM
Short Term Rentals (by Ken [NY]) Posted on: Jul 22, 2021 8:08 PM
Message:
Does anyone here do short Term Rentals? I am considering buying 1 or more in a lake area here where they rent year round for the beach and ice fishing and snowmobiling in winter --72.231.xxx.xxx |
Short Term Rentals (by Allym [NJ]) Posted on: Jul 22, 2021 8:17 PM
Message:
When I think about that, I wonder who cleans up after the one that just left. Could be horrible to walk into bad conditions. The guy who used to maintain my generators used to go to Tug Hill Plateau and snowmobile for a couple weeks and they use those for transportation to restaurants etc. --108.24.xx.xx |
Short Term Rentals (by Richard [MI]) Posted on: Jul 22, 2021 9:24 PM
Message:
In most any area are numerous people who do house cleaning. Here I can think of at least 10 in my small town. It should be no problem to find a cleaning service. Many real estate management companies will do the short term rentals and handle all the details. Here they often charge 20 percent to do this but you might find a better deal. I think the thing is to find a good manager who keeps your place full and is honest. --24.180.xx.xx |
Short Term Rentals (by 6x6 [TN]) Posted on: Jul 22, 2021 10:19 PM
Message:
As in AirBNB?
Some places I think you have to live on the property. --73.120.xx.xxx |
Short Term Rentals (by Ken [NY]) Posted on: Jul 22, 2021 10:34 PM
Message:
6x6 Yes Airbnb type place,i wont buy one that i cant rent as short term but i have several small lake areas where it is legal and expected.Richard,I will probably manage it myself at least for awhile till i have my procedures in place for how i want it done.Finding a cleaner shouldnt be much of a problem.Ally, these rentals are cleaned regularly after a stay,i will keep it up in order to get top dollar --72.231.xxx.xxx |
Short Term Rentals (by Still Learning [NH]) Posted on: Jul 23, 2021 7:20 AM
Message:
My husband manages our ski condo in CO using VRBO. We have gone through 3 cleaners over 10 years. Some are better than others. Communication and a relationship with the cleaner is the biggest hurdle. How much turn around time do they need, same day, 24 hours, etc. Laundry done on site or hauled to a laundry mat. I stay out of it but I think the sites have made it harder to talk directly to prospective renters before renting. It’s all about the reviews. You want 5 star reviews. We have our short term license but the town is probably about to put a moratorium on new ones because there is no affordable housing and not enough long term rentals for employees. Inspections are now required as well as a “property manager” living locally. There are more and more hoops to jump through with more fees being charged compared to 6 years ago. --75.67.xxx.xxx |
Short Term Rentals (by Smokowna [MD]) Posted on: Jul 23, 2021 7:25 AM
Message:
No, However the maid I hire is by far the most important crew member.
I imagine it would be easy to adjust to if you had the right maids. Two or three individuals to back each other up.
I have a strong suspicion you could enjoy this management and have an easy go of it between swings of the firewood axe. --108.28.xx.xxx |
Short Term Rentals (by Plenty [MO]) Posted on: Jul 23, 2021 8:31 AM
Message:
Go for it. Give it a try! --172.58.xx.xxx |
Short Term Rentals (by Rangor [TN]) Posted on: Jul 23, 2021 8:47 AM
Message:
I will let you know in a year - we close on our first one with this purpose next Friday. --64.252.xx.xx |
Short Term Rentals (by Dan [NY]) Posted on: Jul 23, 2021 9:02 AM
Message:
Ken I thought you were looking to sell all your rentals? I recall you mentioning that or are you changing direction? --68.192.xxx.x |
Short Term Rentals (by Deanna [TX]) Posted on: Jul 23, 2021 9:13 AM
Message:
Some friends of mine are in a university town. They do AirBnB/VRBO out of their primary residence, which is a farm on the outskirts of town. They do it as much because they enjoy the people interaction as they do it for the money.
It would be interesting if you did a blog with pictures about your STR experience as it happens. Good luck! --137.118.xx.xxx |
Short Term Rentals (by Ken [NY]) Posted on: Jul 23, 2021 1:59 PM
Message:
Dan,yes i want to get rid of my rentals due to NY laws for evictions etc but i view this as totally different,the police will remove them just like a hotel if they stay past there allotted time.Also these people have there own home to return to and obligations like a job to return to the following day.
Smoke,I agree cleaning person is very important.I think 5 would be easier to manage than 1 and 20 would be easier to manage than 5,full time cleaners and handyman as regular employees would make it easier.
Deanna,i am not interested in interaction with people,my goal will be to do enough that i have employees and i just set the rules and procedures.I wouldnt know how to do a blog and where to do it or anything about it.
Still learning,if the town puts in a morotorium your license will increase in value dramatically --72.231.xxx.xxx |
Short Term Rentals (by Vee [OH]) Posted on: Jul 23, 2021 5:49 PM
Message:
I became tired of hearing about dogs so I added the animal cost to rent and doubled that to 400 for 4 days, you must furnish, clean, supply tableware including drinkware, I use bed-bug covers on everything and since evicting so many times I have acquired holiday cups and plates for xmas and halloween. No less than 3 nites to keep the sex trades peeople away, must pre-pay (my favorite part!) and I on;y give wifi password when asked - I have a 4 port router there so I know who is doing what. In order to take advantage of the simple setout I pay the chamber of commerce a 14percent -hotel tax-.. delete numbers from locks after pay period expires, landlord locks are very easy but only get back less than half the keys. --76.188.xxx.xxx |
Short Term Rentals (by Barb [MO]) Posted on: Jul 23, 2021 6:44 PM
Message:
I do a little bit. More mid-term stays with travel nurses than the short term AirBNBs, but we have done some AirBnBs.
All a matter of getting things set up right. --149.76.xxx.xx |
Short Term Rentals (by Robin [WI]) Posted on: Jul 23, 2021 6:51 PM
Message:
We have two very different kinds.
1) An addition off our own home with a separate entrance. We're 15 min away from a national park, so most of our guests are couples coming for a few days in nature. Fantastic guests. They leave the place clean, are gone most of the day, and we've met some really interesting (in a good way) people. Can't beat the convenience; as they're rolling down the driveway I'm stripping the sheets and throwing them in the washer. It pays for our monthly mortgage and then some.
2) Two-bedroom apartments in a factory town that brings in seasonal workers. It's three hours away, so we had to hire a property manager. On our third try, we lucked out and found someone competent who lives two blocks away. I wouldn't call it passive income, though. Even if you have a manager, there are still judgement calls to be made. It's not as profitable as we would like right now; we're hoping for a big shut-down.
Super important: go to AirBnb and see how much competition you have. In our home town, draconian legislation has pushed all but 5 STRs out of business. In the factory town, everyone and their dog is renting out a room. A low-risk way to test the waters would be to rent an apartment and then set it up as a STR. If it's not profitable after a year, don't renew the lease. Minimize your capital expenditure until you know whether it's going to work. --104.230.xxx.xx |
Short Term Rentals (by BRAD 20,000 [IN]) Posted on: Jul 23, 2021 11:49 PM
Message:
Ken,
I have a good friend who does this full time. She says anything by a lake is high interest, plus you get ice sports.
She and I both are having great difficulty finding cleaning people. Indiana still gives $300 per week plus unemployment and factories are tripping over themselves giving raises and signing bonuses to those willing to work. Families with children are getting $5-10,000 stimulus checks.
I’m now paying $100 to clean a 2 bedroom home and not getting any takers.
Also, she moved away from Airbnb and Vrbo due to their fees and refunding the rent if anyone complained. She makes reservations etc from her own website.
I say try it!
BRAD --73.102.xxx.xxx |
Short Term Rentals (by Ray-N-Pa [PA]) Posted on: Jul 26, 2021 9:54 PM
Message:
Do short term rentals get reported on a schedule E or a C? --24.101.xxx.xxx |
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