Hi everyone, I'm looking for advice from investors who have gone through a similar situation, particularly those who purchased a new primary residence and converted their previous home into a short-term rental (Airbnb/Vrbo). Here's a little background on my situation: First home: Purchased in May...
I see a lot of conflicting takes on how the IRS views travel and drive time for short-term rentals under the 100-hour material participation test. If you're driving 45 minutes to a property to fix a lock or check on a contractor, do you log the drive as a separate line item from the actual work, ...
Airbnb’s New Rules Are Changing How Hosts Operate. Here’s What STR Investors Need to Know. If you operate a short-term rental, you’ve probably noticed that hosting looks different today than it did a few years ago. Guest expectations have evolved, operating expenses continue to rise, and booking ...
We accept reservations through several platforms and direct. 36 percent of all Airbnb reservations cancel. VRBO is about 12 percent. All cancellation terms are equal.
An owner update shouldn't be a list of everything you did that week. It should help the owner understand what's happening in their property business. A useful STR report should answer five questions: 1. What happened? Bookings received, guest issues handled, maintenance completed, and other impor...
When analyzing short term rental performance, most investors focus strictly on optimizing average daily rates and calendar occupancy. Yet capturing ancillary guest spending remains one of the cleanest ways to expand cash flow, provided it does not increase operational overhead or accelerate prope...
Hi BP Community - I'm looking for advice. I signed up to use RedAwning for property management about 3 months ago. Onboarding was fine, but there has been one major problem: Of 13 completed stays, they've only paid me for 2 of them so far. Worse, they only paid me for those stays after I complain...
As I look into STR I can see what the gross nightly rents are.. Then I see that VRBO charges like 8% to be on their platform and Air bnb is 15% so then when PM want 25% your taking 33 to 40% right off the top.. And a bunch of the listings I saw dont have cleaning fee's and I suspect the cleaning ...
Hello! Does anyone here currently do the rental arbitrage method in order to gain more capital to scale quicker? My husband and I have a long term rental but have recently been introduced to the arbitrage method. We’ve researched alot but I really just want to talk with real people who have done ...
Hi all! First time posting here. I've been an LTR property owner/manager since 2011. I'd like to enter the STR/MTR arena and I think I'd be good at it, but I would need an investor for that. My kids are older now so I finally have more time available for active income opportunities. I think I'm i...
The highlight reels make STRs look great, but conversations with operators have me looking closer at vacancy. Some have told me bookings are slowing as more travelers choose hotels. I’m interested in the space and haven’t bought one yet, so I want to understand what ownership looks like when the ...
Morning all, We are getting ready to buy our first short term rental on the Oregon coast, I was wondering what folks thoughts were on trying to do a mix of short term rental and medium term rental. Medium term through the deep winter. I may just stick with short term but was kind of curious what ...
A guest staying for three weeks needs a different communication rhythm from a guest staying two nights. Longer stays create different needs. Guests may need: Mid-stay cleaning Fresh linens and towels Supply replenishment Maintenance support Local recommendations Clear communication about property...
For those using the 100-hour material participation rule on your STRs, how are you tracking how much time your cleaners actually spend at the property? Most cleaning crews charge a flat turnover fee instead of an hourly rate, so their invoices don't show hours worked. Do you just use smart lock l...
I have interests in buying STR in Florida. Currently live in MN and have fears after buying, I will wish I didn’t. Anyone out there have those same feelings but are happy they did it? Secondly, the financial burden of paying for the mortgage, maintenance and management of the place seems very str...
A dripping tap may look minor. Until the guest complains. A weak air conditioner may seem manageable. Until the weather changes. A loose door handle may seem harmless. Until a guest struggles to secure the door. Maintenance isn't only about fixing broken things. It's about identifying problems ea...
I have a couple markets where I am struggling to get bridge loans for BRRRR short term rentals. It's due to the "Rural" index (I can't quite remember what it's called, one of the lenders showed me). One of the markets I have a #1 performing STR for guest count so I can prove that I know what I am...
Saw a 2 night stay come in earlier this evening that split a weekend with a Thursday night check in and out on Saturday. This is a big NO for me, because it can be really hard to get a quality booking that captures that other weekend night, and I program my calendar to avoid this. I've been set u...
Very small sample size, end of summer into shoulder season however notable as all but 1 guest have brought dogs and not one has checked the pet box which can be elusive as they have all mentioned dogs just didn't add the fee. Prior to this the pet fees collected were averaging 20% of bookings whi...
Good Morning! I was wondering if anyone here had successfully used a hard money loan to finance an STR? If so, is there someone you recommend that services Twin Cities, Minnesota? Also, please tell me if If there is a reason I should avoid them or if there is something better that I don't know ab...
Different people can have completely different ideas of what clean means. That's why cleaning quality should be documented, not left to individual interpretation. For every turnover, the process should answer: What needs to be checked? What supplies need to be restocked? What should be photograph...
I’ve been doing property due diligence for STR investors and here are the questions that sometimes get overlooked: What jurisdiction actually governs the property? What is the zoning classification, and does it allow the proposed use? Are STRs permitted, restricted, capped, or prohibited? Is a li...
Has anyone here built a detached four-season greenhouse or conservatory as an amenity for an Airbnb or short-term rental? I’m considering adding one to a property in the Poconos—probably around 240–300 square feet—for guests to lounge, relax, and enjoy year-round. I’ve always loved greenhouse and...
Our short term rentals have non-smoking policy. However some guests are smoking inside the house. When we discuss with guests or Airbnb or VRBO , there is no photo to prove as it is smell. It is only the strong smell and we can tell it is smoking or Weed. Also many times it is just our cleaners c...
I am in the process of selling what was a monthly rental and doing a 1031 into a new build which of course has attached garage etc. How important is it to have parking in the garage compared to just keeping the garage locked off and they park in the drive way or on the street. there is no HOA and...