Biggest Mistakes/Lessons Learned: Short-Term Rentals
Melanie StephensPro Member
Investor · Tabernash, CO · Member since 2012 · 11 posts · 237 votesBiggest Mistakes/Lessons Learned: Short-Term Rentals
Most Popular Reply
Member since 2019 · 43 posts · 141 votes
5yWe learned a ton from other hosts and investors before we launched, and now that we are well down the short-term rental road, there is no doubt that certain bits of advice were more valuable than others. We’ve certainly made minor mistakes, but I’m grateful to say that we benefited greatly from the wisdom of those who went before us. So, while some of this may not fit the “lessons learned by messing up” box, what I CAN do is pay it forward by summarizing the most helpful advice and lessons “confirmed” that have led to our success.
So, for what it’s worth…
1) Location, location, location. What is nearby that attracts visitors? Is it seasonal or year-round? Does it attract families or parties?
2) Do your own research. Airdna and Mashvisor are great, but they’re not perfect. Better to watch similar properties for a while on Airbnb and VRBO, AND ask a realtor about returns, AND do the research on sites like Airdna and Mashvisor. The combination of data will yield the best analysis.
3) Gather as much data as possible for an informed buying decision, but make the leap—thorough analysis, but not analysis paralysis.
4) When setting up a property, consider things that will get people to book AND little surprises that will make them happy once they’re there. Touches like good linens, a plush mattress topper, labels and instructions for where to find or how to use things, or great coffee go a long way towards a 5-star review.
5) Speaking of reviews, educate guests on the review system. Our check-in email tells guests that many platforms consider anything less than a 5-star review to be an unsatisfied guest. As such, we tell them appreciate the opportunity to correct a situation during the stay rather than finding out about it afterwards. Nearly all guests give us that opportunity if there’s a problem that surfaces during their stay, and our average rating on Airbnb is 4.97.
6) Stay at your property before it goes active and periodically once it’s up and running. You may not realize the can opener broke or that the lamp light bulb is blown unless you spend some time there.
7) Don’t get too emotionally attached to the property. If you do, you may over-invest in things that don’t add value (wasting money on things that don’t give you a return is never a good idea), overreact to damages or things getting ruined (budget for those things to happen, buy duplicates, and then don’t give damages and ruined items another thought!), worry all the time, or be too protective of who you allow to stay (though screening is good, a fully occupied and highly profitable property may be worth very small risks—for each person to determine based upon risk tolerance, but we have very few bad guests).
8) Stating the obvious, but find ways to increase revenue. Definitely use an external pricing tool like Pricelabs, consider allowing pets with a fee (an extra $5-8k per year just might make the cost of that new rug more palatable—and it’s unlikely you’ll need one since most pet owners take care of the place), and consider one-night stays if the guests are properly screened.
9) Others will disagree and perhaps location has a part to play in areas that are and are not desirable for partying, but to elaborate on the last item above: one-night stays (between other guests) add about $10k NET to my annual bottom line. Don’t do single nights for locals, but DO consider them for the family of 4 that’s coming to town for a quick getaway or event.
10) Differentiate your property from the rest. It may be through nicer furnishings, adding a hot tub or pool table, or accepting pets. All of the above items can help create a niche, which particularly helps you stay booked during the off season.
11) Go for durability in choosing furniture and linens, and replace/service things sooner/more often than you would in your own home. A broken appliance could cost you more in frustrated guests, rental concessions, and property downtime than replacing it a bit more frequently.
12) Automate everything—bookings, confirmations, check-in emails with door codes, check-out reminders, etc. Everything! If you’re spending more than 20-30 minutes a WEEK managing a single STVR, then something in the process needs to be changed. Pricelabs, Hospitable, and a channel manager like Ownerrez or Lodgify are essentials.
13) Fear of a bad review can cause you to expect too little from your guests and to take on too much stress when something goes wrong. Provide a great (even if sometimes imperfect) experience, and most guests will leave a great review.
14) By the same token, don’t be difficult with your guests! We’re in the hospitality/service industry. If you don’t like that, then don’t buy a STVR! I’m often stunned at how hosts respond to problems/issues posted by another host seeking advice on social media (thankfully, Bigger Pockets hosts seem to have more class!). You’re going to have an occasional needy guest, difficult request, or unexpected cancellation that falls outside of your policies. Do your best to be flexible and serve your guests well.
15) Find an outstanding property cleaner/care-taker and treat him/her well! This person is the key to your success, having few headaches, attracting repeat visitors, and ensuring that guests have an overall great experience. Your cleaners may not put things in the same places you would, and there may be an occasional miss. Let these things go! If they’re committed, dependable, keep things clean and stocked well, and willing to do everything you need, then it is golden!
16) Be good neighbors. Many HOAs and local governments no longer allow STVRs. Buy somewhere that has already fought those battles (i.e. where you already know the rules of the game—not where the rules are yet to be created) and then meet the people around your property. Give them your contact information in case neighbors have problems with your guests, and assure them that you’re there to serve them as well as your guests.
123 Replies
- Property Manager · Catskills · Member since 2020 · 38 posts · 17 votes4y
Originally posted by @Tristan Sperry:
Hi Everyone - I'm launching an STR business and am in need of financing. Could anyone provide recommendations?
For more context, we're investing in Upstate NY through an LLC with backing from a UHNW individual who would be able to personally guarantee the loans if needed. We are seeking to acquire 10 homes at roughly $1m each over the next 12-24 months.
From initial research/conversations, it's likely that we will need a commercial lender, specialized non-bank lender or private money. Ideally, we'd like some sort of an umbrella portfolio loan but understand the first deal may be transactional in nature to build a longer-term relationship.
Curious to hear what creative solutions BP Members have found (other than conventional owner-occupied mortgages, which we will not qualify for given the nature of the business described above). Any suggestions or recommendations would be greatly appreciated.
Best,
Tristan
@Tristan Sperry
Where in upstate NY are you looking ? I can give you more info about the Catskills and I can tell you you dont need $1m per home to earn sizeable returns. Lets connect if you'd like to chat. - Rental Property Investor · Lansing, MI · Member since 2020 · 5 posts · 14 votes4y
One thing that working at GM as a business plan deployer for 26 years taught me is systems, processes and to TRUST the process.
I was just about to start purchasing properties, had bank and hard money leader approvals when COVID shut in changed everything. I told my son that property should make money, but how will that happen now? My son started researching Airbnb and after sometime my son talked me into doing my Airbnb. He said use what you have to make you money. I wasn’t sure it would work so I just started. Right out the gate all my rooms were booked and have remained booked every day.
—Lesson learned: Adults can behave like children, they need direction & structure. My Airbnb mostly has 30+ night stays of traveling nurses and resident doctors 95% of the time and traveling skilled trades worker 5%. Overtime I’ve realized that some friction was occurring because of misunderstandings (different mindset) and the unknown. Also for me I felt that something was out of sorts even though I was successful with Airbnb and it wasn’t hard as I thought it would be with working long hours at GM and managing the Airbnb. Then I got two guest (doctor and pipe fitter) that seemed to complain about each other constantly even though both of them worked about 16 hours a day. At this point I put my GM hat on and spent time creating systems and processes. I didn’t recreate the wheel I just took the systems and process that we use at GM and reduced the scale of people and implemented them for my Airbnb, including GM’s famous words “subject to change”. Using my psychology degree for how expectations are communicated and like magic things are amazingly good!Now as I continue to grow I just copy the same system and processes. Standardized work will have every home operating the same…my signature.
My son said, mom I bet your glad I was born with great idea’s. Yes I am!
- Investor · Austin TX · Member since 2018 · 151 posts · 165 votes4y
I was planning on using a second home loan to purchase my first STR. I didn't realize that placing it under property management was in direct violation of the second home loan, so in the middle of escrow, needed to find alternate financing. Was not a huge deal but would have been nice to know and absolutely essential moving forward!
- 4yChristian AndersonPro MemberReal Estate Agent · Member since 2021 · 6 posts · 6 votes
Always follow your systems. So I buy foreclosed properties at the foreclosure sales (well I did until March of 2020). I found a property I wanted to bib on a couple of years ago and went to check it out. Up to this point my system had always been, drive by the property, if someone is living there knock on the door and let them know what is going on and see if I can help them out if I end up getting the home. I then call the local police department and see if there have been any issues with the property address and neighborhood. Well, in this case I had lived in the neighborhood years before and the home looked to be in good shape for a foreclosure. To make a verrrrry long story short I didn't follow my systems. I never went to the door and never called the police. The property got bib up a little higher than I wanted to go but I bought it anyway, another breach of systems protocol. Once I got the current occupant/old owner to answer the door I was greeted by a 60 year old drug addict and her 30 year old meth addict daughter. After I finally got them out, 4 months later, the house tested extremely high for meth contamination. This story goes on and on and on, from the evection attorney to the flooded house after it was rehabbed, but after gutting the place and putting it back together I was able to sell it to a very nice young couple and I only lost about $15,000. Remember, always follow your systems!
- Banker · New York, NY · Member since 2021 · 91 posts · 19 votes4y
Data is one of the most important aspects of your short-term rental strategy. There are certain market tools to estimate how well your investment will do. A tool that works for me is Airdna. It provides analytics that measures seasonality, profitability, and more! What is your strategy to estimate the performance of your Airbnb?
- Phoenix, AZ · Member since 2021 · 504 posts · 282 votes4y
Striking the balance between costs, timeline, and ROI for initial upgrades. The goal is value-add, cost effective, and a quick timeline so you can start earning income. This was my biggest mistake on my first SFR. Never will make that mistake again.
- Tax Strategist| National Tax Educator| Accepting New Clients · Member since 2014 · 3k+ posts · 4k+ votes4y
Don't put in a wax melt/warmer- grown adults will still dump wax all over.
Don't put in hotel individual bars of soap- they just get wet and stuck to the tub shelf/sink and make more cleaning.And don't do a welcome basket- no one cares. Literally no one mentioned it in 100+ reviews.
- Rental Property Investor · Houston, TX · Member since 2021 · 35 posts · 35 votes4y
Originally posted by @Natalie Kolodij:
Don't put in a wax melt/warmer- grown adults will still dump wax all over.
Don't put in hotel individual bars of soap- they just get wet and stuck to the tub shelf/sink and make more cleaning.And don't do a welcome basket- no one cares. Literally no one mentioned it in 100+ reviews.
So what kind of soap should one use?
- Member since 2021 · 4 posts · 3 votes4y
@Robert M. A lot of great info here! We are just starting to look at markets for our first STR so thank you!
- New to Real Estate · Fort Myers · Member since 2020 · 49 posts · 18 votes4y
Originally posted by @Robert M.:
We learned a ton from other hosts and investors before we launched, and now that we are well down the short-term rental road, there is no doubt that certain bits of advice were more valuable than others. We’ve certainly made minor mistakes, but I’m grateful to say that we benefited greatly from the wisdom of those who went before us. So, while some of this may not fit the “lessons learned by messing up” box, what I CAN do is pay it forward by summarizing the most helpful advice and lessons “confirmed” that have led to our success.
So, for what it’s worth…
1) Location, location, location. What is nearby that attracts visitors? Is it seasonal or year-round? Does it attract families or parties?2) Do your own research. Airdna and Mashvisor are great, but they’re not perfect. Better to watch similar properties for a while on Airbnb and VRBO, AND ask a realtor about returns, AND do the research on sites like Airdna and Mashvisor. The combination of data will yield the best analysis.
3) Gather as much data as possible for an informed buying decision, but make the leap—thorough analysis, but not analysis paralysis.
4) When setting up a property, consider things that will get people to book AND little surprises that will make them happy once they’re there. Touches like good linens, a plush mattress topper, labels and instructions for where to find or how to use things, or great coffee go a long way towards a 5-star review.
5) Speaking of reviews, educate guests on the review system. Our check-in email tells guests that many platforms consider anything less than a 5-star review to be an unsatisfied guest. As such, we tell them appreciate the opportunity to correct a situation during the stay rather than finding out about it afterwards. Nearly all guests give us that opportunity if there’s a problem that surfaces during their stay, and our average rating on Airbnb is 4.97.
6) Stay at your property before it goes active and periodically once it’s up and running. You may not realize the can opener broke or that the lamp light bulb is blown unless you spend some time there.7) Don’t get too emotionally attached to the property. If you do, you may over-invest in things that don’t add value (wasting money on things that don’t give you a return is never a good idea), overreact to damages or things getting ruined (budget for those things to happen, buy duplicates, and then don’t give damages and ruined items another thought!), worry all the time, or be too protective of who you allow to stay (though screening is good, a fully occupied and highly profitable property may be worth very small risks—for each person to determine based upon risk tolerance, but we have very few bad guests).
8) Stating the obvious, but find ways to increase revenue. Definitely use an external pricing tool like Pricelabs, consider allowing pets with a fee (an extra $5-8k per year just might make the cost of that new rug more palatable—and it’s unlikely you’ll need one since most pet owners take care of the place), and consider one-night stays if the guests are properly screened.
9) Others will disagree and perhaps location has a part to play in areas that are and are not desirable for partying, but to elaborate on the last item above: one-night stays (between other guests) add about $10k NET to my annual bottom line. Don’t do single nights for locals, but DO consider them for the family of 4 that’s coming to town for a quick getaway or event.
10) Differentiate your property from the rest. It may be through nicer furnishings, adding a hot tub or pool table, or accepting pets. All of the above items can help create a niche, which particularly helps you stay booked during the off season.
11) Go for durability in choosing furniture and linens, and replace/service things sooner/more often than you would in your own home. A broken appliance could cost you more in frustrated guests, rental concessions, and property downtime than replacing it a bit more frequently.
12) Automate everything—bookings, confirmations, check-in emails with door codes, check-out reminders, etc. Everything! If you’re spending more than 20-30 minutes a WEEK managing a single STVR, then something in the process needs to be changed. Pricelabs, Hospitable, and a channel manager like Ownerrez or Lodgify are essentials.13) Fear of a bad review can cause you to expect too little from your guests and to take on too much stress when something goes wrong. Provide a great (even if sometimes imperfect) experience, and most guests will leave a great review.
14) By the same token, don’t be difficult with your guests! We’re in the hospitality/service industry. If you don’t like that, then don’t buy a STVR! I’m often stunned at how hosts respond to problems/issues posted by another host seeking advice on social media (thankfully, Bigger Pockets hosts seem to have more class!). You’re going to have an occasional needy guest, difficult request, or unexpected cancellation that falls outside of your policies. Do your best to be flexible and serve your guests well.
15) Find an outstanding property cleaner/care-taker and treat him/her well! This person is the key to your success, having few headaches, attracting repeat visitors, and ensuring that guests have an overall great experience. Your cleaners may not put things in the same places you would, and there may be an occasional miss. Let these things go! If they’re committed, dependable, keep things clean and stocked well, and willing to do everything you need, then it is golden!16) Be good neighbors. Many HOAs and local governments no longer allow STVRs. Buy somewhere that has already fought those battles (i.e. where you already know the rules of the game—not where the rules are yet to be created) and then meet the people around your property. Give them your contact information in case neighbors have problems with your guests, and assure them that you’re there to serve them as well as your guests.
This was truly an awesome response thank you for the detailed insight. I am sure anybody armed with this knowledge will mitigate any risks.
- Member since 2020 · 3 posts · 4 votes4y
Originally posted by @Natalie Kolodij:
Don't put in a wax melt/warmer- grown adults will still dump wax all over.
Don't put in hotel individual bars of soap- they just get wet and stuck to the tub shelf/sink and make more cleaning.And don't do a welcome basket- no one cares. Literally no one mentioned it in 100+ reviews.
I have to disagree about the welcome basket. Probably 1/5 guests mention in my reviews and RAVE about it. Of course, I do stock it with specialty items like Nori, KIND bars, popcorn, oatmeal packets, and biscotti. I also buy $5 wine bottles at Costco and have the housekeepers leave them out (and they rave about this too, however, I would say only about 25% of guests drink it, so one bottle goes a long way ;).
Other tips/learned lessons in my first full year of Airbnb with two mountain homes:
—Do message guests right away, either personally, or automated shorts with their name in it. People love good communication and so do I. This also helps you to understand whether you might have a problem guest— those that don’t respond tend to be the ones that give you issues later (‘Hi, I’m here at the house and I don’t know how to get in’ oof…). This also lets you know why they are visiting and those that have an honest story aren’t the party-ers
—Find a good housekeeper or two and PAY THEM WELL. A bad or no-show housekeeper is the fastest way to bad reviews that last forever. I did not think about this before buying in a small mountain town, and it has been a real struggle. They are your eyes and ears and if you can train and pay them to be more of a ‘concierge service,’ helping you to keep note of stock supplies, arranging handymen if they note something is broke, or running to the store for you, they will save your butt. And locals know other locals, so if you have a good relationship with them, they really help when it comes to finding an emergency handyman (sometimes it’s their husbands when no one else is available). Most housekeepers here in very far NorCal make $30-35/hour, so find out what your going rate is locally before you decide on the cleaning fees.
—Figure out who will take out your trash and shovel snow. In small towns this is another bother that we did not think about before purchasing, and when you are a 45 min drive from your houses, it can be a chore and almost impossible if you work a 9-5 and get a sudden dumping of snow in your airbnb driveway!
—Battery-operated candles. Guests love them and I usually have the housekeeper turn on a few before they arrive and people RAVE about them, put this in their reviews. I put in my house manual to please turn off when not in use, and most guests comply.
—Finally, a well-stocked kitchen is a must. Not everyone is a chef, including you if you are not into cooking, but that doesn’t mean your guests aren’t either. A good amount of guests book houses to cook instead of going out and they always seem to mention in reviews how well stocked our kitchens are with tons of fresh spices, oils, pots/pans, French coffee press, coffee grinder, all the cooking pans/pots/tools, etc.
Good luck to all!
- Member since 2020 · 3 posts · 4 votes4y
Originally posted by @Imeh Esen:
Originally posted by @Natalie Kolodij:
Don't put in a wax melt/warmer- grown adults will still dump wax all over.
Don't put in hotel individual bars of soap- they just get wet and stuck to the tub shelf/sink and make more cleaning.And don't do a welcome basket- no one cares. Literally no one mentioned it in 100+ reviews.
So what kind of soap should one use?
I go to TJ Maxx and buy a bunch of their large body wash jugs and guests love them. They last forever.
- Member since 2021 · 4 posts · 2 votes4y
Originally posted by @Scott Mac:
Originally posted by @Himmler Joachim:
I just started subletting my second room in NYC a month ago. I was also able to find a short term lease contract last minute online. Better than nothing.
Do you think when prospective renters learn your name--in New York--it cuts down on those who would rent from you (A serious question)...(???)
LMAO 😂😂😂. I can understand the concern! I have to say out of all the prospective renters I've met and roommates I've had in my life, I've never met a Jewish one 😂. I'll keep you updated!
- 4yShane SiedermanPro MemberInvestor · Charleston, SC · Member since 2015 · 39 posts · 17 votes
The short rentals are good, but cleaning number one thing spot check all cleaners as its key. Also set up back plans we have all mobile combo locks controls, but lock boxes too, in case batteries die. Every few months we change re decorate and change out towles add one two extra items could be new pillows and cops. Let friends stay there ro criticize and make sure nothing's filth. I don't need to hear back just my tips.
. Bottom line some people in there mind want more not less, people older want to believe there in a ritz carlton. Crazy but service wins and problem happen u better have a plumber or more than a handyman to work on problems. U are competing against 1000 plus host not some ****** hotel, people expect more......They save more money and have high expectations.
- Tax Strategist| National Tax Educator| Accepting New Clients · Member since 2014 · 3k+ posts · 4k+ votes4y
I would not leave wine out.
Or have it be a selction people can chose before checking in.Some people are sober, or in recovery and walkikng into a house alone with alcohol can be a huge issue for them.
- Tax Strategist| National Tax Educator| Accepting New Clients · Member since 2014 · 3k+ posts · 4k+ votes4y
Originally posted by @Imeh Esen:
Originally posted by @Natalie Kolodij:
Don't put in a wax melt/warmer- grown adults will still dump wax all over.
Don't put in hotel individual bars of soap- they just get wet and stuck to the tub shelf/sink and make more cleaning.And don't do a welcome basket- no one cares. Literally no one mentioned it in 100+ reviews.
So what kind of soap should one use?
I provide shampoo, conditioner, body wash vs. the individual bars now.
Less clean up time
- Rental Property Investor · Houston, TX · Member since 2021 · 35 posts · 35 votes4y
Okay liquids.
- Member since 2020 · 26 posts · 62 votes4y
Originally posted by @Robert M.:
We learned a ton from other hosts and investors before we launched, and now that we are well down the short-term rental road, there is no doubt that certain bits of advice were more valuable than others. We’ve certainly made minor mistakes, but I’m grateful to say that we benefited greatly from the wisdom of those who went before us. So, while some of this may not fit the “lessons learned by messing up” box, what I CAN do is pay it forward by summarizing the most helpful advice and lessons “confirmed” that have led to our success.
So, for what it’s worth…
1) Location, location, location. What is nearby that attracts visitors? Is it seasonal or year-round? Does it attract families or parties?2) Do your own research. Airdna and Mashvisor are great, but they’re not perfect. Better to watch similar properties for a while on Airbnb and VRBO, AND ask a realtor about returns, AND do the research on sites like Airdna and Mashvisor. The combination of data will yield the best analysis.
3) Gather as much data as possible for an informed buying decision, but make the leap—thorough analysis, but not analysis paralysis.
4) When setting up a property, consider things that will get people to book AND little surprises that will make them happy once they’re there. Touches like good linens, a plush mattress topper, labels and instructions for where to find or how to use things, or great coffee go a long way towards a 5-star review.
5) Speaking of reviews, educate guests on the review system. Our check-in email tells guests that many platforms consider anything less than a 5-star review to be an unsatisfied guest. As such, we tell them appreciate the opportunity to correct a situation during the stay rather than finding out about it afterwards. Nearly all guests give us that opportunity if there’s a problem that surfaces during their stay, and our average rating on Airbnb is 4.97.
6) Stay at your property before it goes active and periodically once it’s up and running. You may not realize the can opener broke or that the lamp light bulb is blown unless you spend some time there.7) Don’t get too emotionally attached to the property. If you do, you may over-invest in things that don’t add value (wasting money on things that don’t give you a return is never a good idea), overreact to damages or things getting ruined (budget for those things to happen, buy duplicates, and then don’t give damages and ruined items another thought!), worry all the time, or be too protective of who you allow to stay (though screening is good, a fully occupied and highly profitable property may be worth very small risks—for each person to determine based upon risk tolerance, but we have very few bad guests).
8) Stating the obvious, but find ways to increase revenue. Definitely use an external pricing tool like Pricelabs, consider allowing pets with a fee (an extra $5-8k per year just might make the cost of that new rug more palatable—and it’s unlikely you’ll need one since most pet owners take care of the place), and consider one-night stays if the guests are properly screened.
9) Others will disagree and perhaps location has a part to play in areas that are and are not desirable for partying, but to elaborate on the last item above: one-night stays (between other guests) add about $10k NET to my annual bottom line. Don’t do single nights for locals, but DO consider them for the family of 4 that’s coming to town for a quick getaway or event.
10) Differentiate your property from the rest. It may be through nicer furnishings, adding a hot tub or pool table, or accepting pets. All of the above items can help create a niche, which particularly helps you stay booked during the off season.
11) Go for durability in choosing furniture and linens, and replace/service things sooner/more often than you would in your own home. A broken appliance could cost you more in frustrated guests, rental concessions, and property downtime than replacing it a bit more frequently.
12) Automate everything—bookings, confirmations, check-in emails with door codes, check-out reminders, etc. Everything! If you’re spending more than 20-30 minutes a WEEK managing a single STVR, then something in the process needs to be changed. Pricelabs, Hospitable, and a channel manager like Ownerrez or Lodgify are essentials.13) Fear of a bad review can cause you to expect too little from your guests and to take on too much stress when something goes wrong. Provide a great (even if sometimes imperfect) experience, and most guests will leave a great review.
14) By the same token, don’t be difficult with your guests! We’re in the hospitality/service industry. If you don’t like that, then don’t buy a STVR! I’m often stunned at how hosts respond to problems/issues posted by another host seeking advice on social media (thankfully, Bigger Pockets hosts seem to have more class!). You’re going to have an occasional needy guest, difficult request, or unexpected cancellation that falls outside of your policies. Do your best to be flexible and serve your guests well.
15) Find an outstanding property cleaner/care-taker and treat him/her well! This person is the key to your success, having few headaches, attracting repeat visitors, and ensuring that guests have an overall great experience. Your cleaners may not put things in the same places you would, and there may be an occasional miss. Let these things go! If they’re committed, dependable, keep things clean and stocked well, and willing to do everything you need, then it is golden!16) Be good neighbors. Many HOAs and local governments no longer allow STVRs. Buy somewhere that has already fought those battles (i.e. where you already know the rules of the game—not where the rules are yet to be created) and then meet the people around your property. Give them your contact information in case neighbors have problems with your guests, and assure them that you’re there to serve them as well as your guests.
Thank you Robert. These tips are super valuable.
- Member since 2019 · 3 posts · 2 votes4y
@Mike Shulman I don't understand. Are you saying the previous renters simply left a gun in your property when they left?
- Real Estate Agent · Annapolis, MD · Member since 2017 · 110 posts · 82 votes4y
I have an answer about PESTS...
Lessons learned - I had a long term stay (several weeks) get canceled hours after check in because of an "ant infestation". Came home to find two dead ants in a cleaning wipe on the counter. Nothing else.
I only offered a partial refund as I felt I was being taken advantage of.
At some point this summer, crickets established their home in my unfinished basement and were singing ALL night - had to put traps and spray around the perimeter of the house to prevent intrusion.
Now I always put baits in hidden places in my home to prevent all of this - the house is from 1910, folks, yes it's renovated but random small bugs are the small price to pay for a truly authentic history home in Annapolis!
Hosts can't allow small bugs like ants, fruit flies, and crickets to ruin their hard work :)
- 4yShane SiedermanPro MemberInvestor · Charleston, SC · Member since 2015 · 39 posts · 17 votes
HI Marylin,
I had something similar happen turned these people were host and tend to have very poor write ups and I caught trying to shake me down!! I google phone number showed up as real estate and airbnb host....with very poor rate ups...
- Member since 2018 · 58 posts · 24 votes4y
@Melanie Stephens
Hello,
I’m wondering if you (or anyone else) know the answer to a different question.
When looking on BPs website for short term rental topics and info., I found a section called “AirBNB”. Is BiggerPockets making some deal with AirBNB?
Julia Ferris
- Member since 2021 · 16 posts · 18 votes4y
Haven't read through all the responses but one lesson learned on Short Term Rentals is "don't put all your eggs in one basket". Although it depends on location one thing that I have found is that in vacation and tourist areas many of the locals and individuals in the hospitality sector absolutely HATE Airbnb and other short term rentals. My partner and I bought our first short term rental over 5 years ago in North Conway, NH. Earlier this year the town voted to eliminate all short term rentals and sent cease and desist letters to all the Airbnb's in town. We always have a Plan B and were able to pivot to long term renters and significantly over market rent once the momentum started moving towards the ban.
Piece of advice, short term rentals in many areas will either become more and more regulated and/or completely banned in certain areas so make sure you have a backup plan should that happen.
Join the conversationCreate a free account to reply, vote on answers and follow this thread.