Golden, CO · Member since 2019 · 10 posts · 12 votes
I did a quick search and found some older discussions but nothing recent so I thought I'd ask here:
For those of you who list your STR simultaneously on both airbnb and VRBO, what are some methods to avoid problems such as double bookings? I know there are various programs/apps out there but I thought I'd ask for advice based on personal experience. Are there other problems/solutions to know about when double listing?
We self-operate a STR and so far have only listed it on VRBO. We did that initially to avoid the double-booking problem and to focus on ramping up reviews on just one platform. We've got great reviews on VRBO so I don't think we need to exclusively focus there and I'd like to be able to hopefully capture more potential renters by also listing on airbnb. I've seen the numbers and our market is split pretty evenly between the two platforms - it seems to make sense to market on both at this point unless there's a significant reason not to.
Investor · Puyallup, WA · Member since 2021 · 73 posts · 53 votes
4y
I would HIGHLY recommend using all the possible platforms you can be on. Listing on Airbnb and syncing the calendars can be done, but my preference is to choose a powerful channel manager to do it all in 1. I use Guesty for this and have loved it. I can only look in 1 place for my listing. It's listed on Airbnb, VRBO, booking.com and a few others. I don't have to worry about double bookings, I can store all my automated messages for all the platforms in 1 place, I see all messages in 1 place, I can block my calendar 1 time if needed in 1 place, and I can automate the cleaning prompts for my cleaner at my determined day/time. It also includes all the info for my cleaner so she knows how many to setup for in the next guest check in.
I question if two platforms are worth the effort. Are you having trouble getting bookings on VRBO? We used AIrBNB exclusively and it stayed pretty much completely full. Now you will have two platforms to understand and support which makes your job harder. Not the end of the world, but I would avoid unless you are having problems getting bookings.
But if you use both (and/or others) it could get interesting.....assuming you use both and get 50% more bookings than you can handle (or even more?), now you have a few options. Raise your rates until you drop back to only 100% booked......or open another STR..... :-)
We were about to sign up with Evolve when we bought our STR and last minute decided to try and rent ourselves first to see how it went. Best decision we ever made. I won't bash Evolve too much because it could be a good option for some people, but there are definitely some downsides. I've seen many reports of poor customer service and guests not being able to reach them when needed. The liability coverage they offer is paid for by guests and built in to the cleaning fee, which is a turn-off for guests (Evolve properties charge $200-$300 cleaning fees in our STR area while other comparable properties charge $70-$100). And when it comes down to it, you can do almost everything they do yourself without a 10% cut taken out. Takes more time up front getting it all set up, but I think most investors here who manage their STRs themselves will tell you it's really not that much work once you get going and have your processes in place.
Here are some softwares we use to automate and streamline our STR business:
Channel manager - Guesty For Hosts
Dynamic pricing engine - Wheelhouse
Cleaners - Turnoverbnb
Taxes, licensing, compliance - Avalara/MyLodgeTax (we don't use this anymore but I'd recommend it for 1st time STR investors)
Investor · La Palma, CA · Member since 2021 · 71 posts · 19 votes
4y
@Kevin Luttrell wow that is really helpful Kevin! Thanks so much! Although, I'm not too familiar with the STR taxes.. Can you explain more about that? Are there special taxes you have to pay when having an STR? It's not counted as "passive income" like LTR?
@Kevin Luttrell wow that is really helpful Kevin! Thanks so much! Although, I'm not too familiar with the STR taxes.. Can you explain more about that? Are there special taxes you have to pay when having an STR? It's not counted as "passive income" like LTR?
The income you make is taxed like a LTR, but you also have to pay what are basically "hotel" taxes for your town/city/county/state, they're different in each area/municipality. You'll have to look them up for the area your STR is located. Every level of gov't wants their cut
Lender · Orange County, CA · Member since 2019 · 299 posts · 255 votes
4y
@Julie Chai like Chris said, there are usually hotel/lodging taxes and local state and county taxes for STRs. Also, many states treat the operation of a STR as a business rather than a rental property, so you have to pay different types of business taxes as well. It can be complicated - in TN where my STR is we have to remit lodging taxes from guests to both the state and the county (for bookings that are not through Airbnb/VRBO), file monthly state tax returns, and file and pay annual state business tax. There is also a franchise and excise tax we pay at the end of the year since the property is in an LLC in addition to normal income tax.
I recommend paying the $27/mo for MyLodgeTax - they handle all of this for you.