I am looking for an email template or something you have found work with landlords. I want to do airbnb arbitrage but no owners have been receptive. Any tips or tricks would be appreciated.
Also, what is your rule of thumb for breakeven occupancy and what is your average occupancy?
@Adam B Henderson I'm not sure of the weather in VA, but in Columbus, we have rental seasons (March thru October) and the months in between can be tough at times to find renters because no one wants to move in the cold. So I typically wait to add new product until those months when I know inventory might sit an extra few weeks and landlords are getting antsy. I try to incentivise them as much as possible by offering the following: 1) One full year of rent in advance (typically at a slightly discounted price from their advertisement); 2) I am responsible for any maintenance items excluding major mechanical issues (electric and hvac), which means if there is any kind of backup or plumbing problem, it's on my dime, but it also means that they are going to have a renter that is not calling them to fix minor things; 3) I release them from any liability related to the Airbnb; 4) I install a keypad lock on the front door and agree to leave it when I vacate; 5) After the one year lease we go month-to-month until March when they can get back on the seasonal leasing schedule (which I inform them of), and then I sign a year lease and pay as a regular tenant. I've had multiple instances now where after a year, the landlord was so thrilled that he had an easy tenant, that he gave me more units. I now have 7 Airbnb units in one of his buildings and started with one.
As for occupancy, I own/operate 13 units and across those units I typically run about 25 nights in March thru November, and about 20 nights in December thru February. My units are in the Short North and near Ohio State University (very popular and busy areas with business, events, and education). If I can hit about 12-15 nights, I am typically covered.