Rochester, MN · Member since 2018 · 79 posts · 36 votes
How do you folks manage your vacation rental properties as well as handle customer communication and interactions when you do not live near the property? Are there property managers that specialize in vacation rentals? Let me know your experiences!
We live above our short term rental so we usually can greet each of our guests but there are times we are out of town or the guest is arriving at an odd hour. We have a Yale Assure Smart Lock Touchscreen. It allows us to set up 250 guest codes remotely. I can set the code to work for a specific time period. So we can set up a code for a guest to be active just during the time they are scheduled to stay in the apartment. We LOVE it!!!
You can on board a VA to Guesty for 3$/hr and let them run your entire Airbnb for you. Turn it into 100% passive income. Yes there are also property managers that charge 20 - 25%.
I self-manage my Florida AirBNB from Switzerland by having 2 cleaners at the ready and my usual HVAC, electrician, etc team in case there's a problem. I have a keypad on the front door and I admit that I have someone physically present who changes the code for me after every guest, but the cleaners could probably also do it. You could try Rently. For $30 per lockbox per month, the lockbox can be accessed by anyone you give a code to. I use Rently for property showing for regular tenant turnover and , but I think it would work just as well for AirBNB.
That is very helpful! My biggest concern is how to give the customer a key and how to keep the property secure after they leave. I will check out Rently.
How do you handle cleaners ? Are you using a generic service? I ask because what if you have overlaps bookings with a short window... I'd assume it could be hard to have a cleaner on standby all the time
My favorite cleaner is a private individual that that my GC recommended and she works for $25 an hour, but she has a day job so can only come in the evening. I also use Maid to Order, which I think is a fairly well spread across the US. They're a big chain and if I have a check-out and check-in on the same day I use them because they storm the place with 2-3 workers and have a lot of flexibility in scheduling. Unfortunately, they change $40 an hour, which is more than I like except when I'm in a scheduling pinch. But between the two cleaners, I always have someone who is available.
We live above our short term rental so we usually can greet each of our guests but there are times we are out of town or the guest is arriving at an odd hour. We have a Yale Assure Smart Lock Touchscreen. It allows us to set up 250 guest codes remotely. I can set the code to work for a specific time period. So we can set up a code for a guest to be active just during the time they are scheduled to stay in the apartment. We LOVE it!!!
I have a short term rental in Crested Butte, CO and am in the process of buying another in Vermont. I live in Houston, TX. I manage all the bookings and communication myself but have a local person on call in case something needs to be handled in person. I pay her $85/month to be available and check on the property a few times if it isn’t rented. She also handles the cleaning for an additional fee that I charge to the renter. Her husband does handyman work so if I need something done he charges me for parts and a reasonable hourly rate.
Also, get a smart lock. I have one connected to my Nexia hub and can add and remove door codes for each guest from my phone. I have a ring doorbell pro too. I can always go back and check the feed if there’s a problem.
Ooo! I'm really excited to contribute to this thread. This is exactly what I do. I have rentals in Florida but manage it remotely here from California.
The Wink turns your home into a "Smart Home" and your Schlage lock works remotely through the Wink hub. Long story short--you need to buy both.
This is the McDaddy of managing your rental while away. You can change and delete codes all from your app. For every guest, I input a different code so no one ever has access to my property after they leave.
If you are also going to be away, GET A SECURITY CAMERA. There is sadly a BIG difference between people who rent out an extra room in your personal house, and guests who rent out the house when they know the owner doesn't live there...
It's super wise to get the security camera because it will prevent and screen people who would just book your place to throw a party.
In terms of if you just want to not manage it? I always recommend a Superhost in the area because they care deeply about the customer experience. If you were in Florida/Southern California I would offer my services but sadly, I am not familiar with your market. If you have any other questions while making this transition, don't hesitate to ask! I would be happy to help.
Thanks for the reply! Tell me more about what an Airbnb superhost is all about. I’m intending to down the road buy a lake house 2-3hrs from where I live now and I want to manage it remotely so I can keep visitors checked in without having to travel. I am in Minnesota and I want a lake Home in the Mille lacs/brainerd lakes area. I will definitely look into these technologies and they sound like a no brainer for someone with remote short term rental property. The biggest task would be finding a handyman and a cleaning service that works on call.
Make sure to use the @ with my name so I get notified :)
A Superhost is essentially a really really good host. We have to keep above a certain ranking, not cancel any bookings, always respond, etc.
You are correct about the cleaner! They are your eyes and ears. They will let you know what you are low on, if the house got damaged, and being one of the key elements for you getting 5 Star reviews (you must always have the place be clean top to bottom). But if you are good to your cleaner, they will be good to you.
@Tyler Rasmussen the phone app is always hit or miss for tagging people...
How long does it take for you to get a property cash flowing after closing a deal? How much do you typically spend on holding expenses and what do you do to get your properties vacation ready for your customers?
Your phone is even better than mine! I have to reply on the computer because when I type on my phone, the words literally disappear.
We put 25% down and we are cash flowing usually the second month. The first month is usually reno/getting the property ready. But as soon as you put it on the market (if it's a good market) you will get booked quickly. One thing is to take note of--start up costs will be more than you expected. You are literally furnishing the place AND need 2-3 replacements of common items such as sheets. I mean, like $30k on extra costs to start up.
To get it ready we do a lot. We make sure the property is a 5/5 (new paint, if anything looks cracked like countertops, replace them) mainly because this IS our business. We have to put the right foot forward with our guests. 5 Star reviews are the lifeblood of your business.
And it's also small stuff for every stay
i.e. laying out snacks for every customer, little special touches if it's a special event, etc.
@tyler Rasmussen
That is awesome! The attraction to me for vacation rentals not only being able to use the property myself, but also my fiancée and I love hosting and it is a place we can take a lot of pride in for not only the property but the experience we can offer. What kind of cash flow do you shoot for per Home and what do you do if the property is a seasonal vacation area?
@Alec McGinn Personally, I think there is a difference between a vacation rental in an urban setting versus a typical vacation setting such as lake or ocean fronts. When I vacation at a lake or ocean front, I'm not expecting to experience as much perfection in an Airbnb as I expect in an urban setting. I expect the place to be clean but I don't expect the extras (chocolates, flowers, wine if permitted by law, etc).
I would focus on making your vacation rental the perfect spot for you and your fiancé and chances are, it will be perfect for other visitors, as well.
If you want to charge top dollar, look at other vacation listings in the area to see which ones seem to be able to charge more than other places. What makes them stand apart from other listings with similar amenities?
Here in my urban market, it is the uniquely designed places that can demand and get higher prices. On the other hand, you can make a healthy profit by pricing your rental just a bit lower than others, especially when breaking into the market. Airbnb will suggest offering a 20% discount for the first few rentals just to get your started. We did that and we had 4 bookings in the first 24 hours of advertising the unit. And we still made a healthy profit.
Woops, just came back to the thread and saw you had another question.
I personally don't buy in seasonal areas. There are places in almost every market that bring people in for different reasons. For me, part of analyzing a property/area is WHY are people coming to this area. Now, every market will have "slow seasons" but my goal is to find places that it's so season is still moving along at a decent pace.
When everything is said and done, before paying Federal/state, I am aiming for 900-1000/month. You have more expenses in STR so it's good to have that kind of spread. You never know when your next guest is going to damage something.