Short-Term & Vacation Rental Discussions

User Stats

19
Posts
5
Votes
Hunter Gibson
  • Realtor
  • Salt Lake City
5
Votes |
19
Posts

Need advice for AIRBNB vacation rentals

Hunter Gibson
  • Realtor
  • Salt Lake City
Posted Jul 1 2022, 20:04

Hey everybody I am new to the area and am looking to buy my first renal property to Airbnb. I would love to learn more about short term rentals. If anybody has any advice I would love to hear it. Also is anybody in the area has properties and currently using Airbnb I would love to take you out to lunch if your in the area.

Salt Lake City, Utah

User Stats

2,806
Posts
1,955
Votes
Michael Baum#2 Short-Term & Vacation Rental Discussions Contributor
  • Olympia, WA
1,955
Votes |
2,806
Posts
Michael Baum#2 Short-Term & Vacation Rental Discussions Contributor
  • Olympia, WA
Replied Jul 1 2022, 23:02

The best advice is to read this forum. Listen to some podcasts. You can learn everything you need to know right here!

User Stats

3,737
Posts
4,634
Votes
Luke Carl
  • Rental Property Investor
  • Tennessee Florida
4,634
Votes |
3,737
Posts
Luke Carl
  • Rental Property Investor
  • Tennessee Florida
Replied Jul 2 2022, 01:22

Read this forum and read a book called short term rental long term wealth 

User Stats

8,401
Posts
9,442
Votes
John Underwood#4 All Forums Contributor
  • Investor
  • Greer, SC
9,442
Votes |
8,401
Posts
John Underwood#4 All Forums Contributor
  • Investor
  • Greer, SC
Replied Jul 2 2022, 04:19
Quote from @Hunter Gibson:

Hey everybody I am new to the area and am looking to buy my first renal property to Airbnb. I would love to learn more about short term rentals. If anybody has any advice I would love to hear it. Also is anybody in the area has properties and currently using Airbnb I would love to take you out to lunch if your in the area.


 Use the search function to narrow down the topics you are most interested in. 

You should also get Avery's book.

User Stats

405
Posts
279
Votes
Gerald Pitts
  • Rental Property Investor
  • Asheville NC
279
Votes |
405
Posts
Gerald Pitts
  • Rental Property Investor
  • Asheville NC
Replied Jul 2 2022, 04:22

There are a few good Facebook groups out there as well. You may find one for your area as a bonus, but there's plenty with good info that applies anywhere.  

User Stats

2,882
Posts
2,011
Votes
Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
2,011
Votes |
2,882
Posts
Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
Replied Jul 2 2022, 08:10
I had long term rentals, but when I wanted to do the short term houses, I did as suggested above. 
When I found a couple of houses that fit the bill, meaning in an area near me that was also near the beach and (most importantly) were located in an area where STRS were allowed by code, I put them under contact with intention of making them STRs. 

While we made our way through the contract period, I got ready to set up the houses.  I made a file with comments on various topics, such as highly recommended linens, vacuum, mattresses and so forth. I listened non stop to various podcasts on the topic.  I developed a theme and started getting supplies, because I wanted to get set up as soon as possible after closing.

This is an elephant, but you eat it one bite at a time.  Break it down into smaller steps and work on each step.

User Stats

1,211
Posts
1,008
Votes
Scott E.
  • Developer
  • Scottsdale, AZ
1,008
Votes |
1,211
Posts
Scott E.
  • Developer
  • Scottsdale, AZ
Replied Jul 2 2022, 11:32

Getting into vacation rentals is not for the faint of heart.

Buying a house to rent out long term is pretty simple. Buy the house, throw a tenant in there on a 12 month lease, and collect a check every month.

With a vacation rental you are getting into the hospitality business. You have constant turnover so you need to deal with frequent cleaning and higher maintenance. Plus you need to ensure your guests are offered all of the creature comforts like cable, internet, toilet paper, coffee, shampoo, etc.

As others have suggested, spend some time getting educated here on the forums, reading books, and listening to podcasts.

When you're ready to make a move, make sure you are mindful of the competition within the sub-market, and the local regulations around short term rentals.

User Stats

8,401
Posts
9,442
Votes
John Underwood#4 All Forums Contributor
  • Investor
  • Greer, SC
9,442
Votes |
8,401
Posts
John Underwood#4 All Forums Contributor
  • Investor
  • Greer, SC
Replied Jul 2 2022, 13:23
Quote from @Kerry Baird:
I had long term rentals, but when I wanted to do the short term houses, I did as suggested above. 
When I found a couple of houses that fit the bill, meaning in an area near me that was also near the beach and (most importantly) were located in an area where STRS were allowed by code, I put them under contact with intention of making them STRs. 

While we made our way through the contract period, I got ready to set up the houses.  I made a file with comments on various topics, such as highly recommended linens, vacuum, mattresses and so forth. I listened non stop to various podcasts on the topic.  I developed a theme and started getting supplies, because I wanted to get set up as soon as possible after closing.

This is an elephant, but you eat it one bite at a time.  Break it down into smaller steps and work on each step.

 Sounds like you should write a book as you did all the research and found out the right way to get started. 

User Stats

19
Posts
5
Votes
Hunter Gibson
  • Realtor
  • Salt Lake City
5
Votes |
19
Posts
Hunter Gibson
  • Realtor
  • Salt Lake City
Replied Jul 3 2022, 11:37
Quote from @Michael Baum:

The best advice is to read this forum. Listen to some podcasts. You can learn everything you need to know right here!


 thanks for the help!

User Stats

19
Posts
5
Votes
Hunter Gibson
  • Realtor
  • Salt Lake City
5
Votes |
19
Posts
Hunter Gibson
  • Realtor
  • Salt Lake City
Replied Jul 3 2022, 11:40
Quote from @Kerry Baird:
I had long term rentals, but when I wanted to do the short term houses, I did as suggested above. 
When I found a couple of houses that fit the bill, meaning in an area near me that was also near the beach and (most importantly) were located in an area where STRS were allowed by code, I put them under contact with intention of making them STRs. 

While we made our way through the contract period, I got ready to set up the houses.  I made a file with comments on various topics, such as highly recommended linens, vacuum, mattresses and so forth. I listened non stop to various podcasts on the topic.  I developed a theme and started getting supplies, because I wanted to get set up as soon as possible after closing.

This is an elephant, but you eat it one bite at a time.  Break it down into smaller steps and work on each step.

 thanks for the help do you have any podcasts you recommend 

User Stats

19
Posts
5
Votes
Hunter Gibson
  • Realtor
  • Salt Lake City
5
Votes |
19
Posts
Hunter Gibson
  • Realtor
  • Salt Lake City
Replied Jul 3 2022, 11:42
Quote from @Scott E.:

Getting into vacation rentals is not for the faint of heart.

Buying a house to rent out long term is pretty simple. Buy the house, throw a tenant in there on a 12 month lease, and collect a check every month.

With a vacation rental you are getting into the hospitality business. You have constant turnover so you need to deal with frequent cleaning and higher maintenance. Plus you need to ensure your guests are offered all of the creature comforts like cable, internet, toilet paper, coffee, shampoo, etc.

As others have suggested, spend some time getting educated here on the forums, reading books, and listening to podcasts.

When you're ready to make a move, make sure you are mindful of the competition within the sub-market, and the local regulations around short term rentals.


 thanks again and do you have any podcast recommendations? 

User Stats

405
Posts
279
Votes
Gerald Pitts
  • Rental Property Investor
  • Asheville NC
279
Votes |
405
Posts
Gerald Pitts
  • Rental Property Investor
  • Asheville NC
Replied Jul 3 2022, 12:51
Quote from @Hunter Gibson:
Quote from @Kerry Baird:
I had long term rentals, but when I wanted to do the short term houses, I did as suggested above. 
When I found a couple of houses that fit the bill, meaning in an area near me that was also near the beach and (most importantly) were located in an area where STRS were allowed by code, I put them under contact with intention of making them STRs. 

While we made our way through the contract period, I got ready to set up the houses.  I made a file with comments on various topics, such as highly recommended linens, vacuum, mattresses and so forth. I listened non stop to various podcasts on the topic.  I developed a theme and started getting supplies, because I wanted to get set up as soon as possible after closing.

This is an elephant, but you eat it one bite at a time.  Break it down into smaller steps and work on each step.

 thanks for the help do you have any podcasts you recommend 


 Short Term Show

Short term rental secrets

Get Paid for Your Pad

Bigger Pockets

Bigger Pockets Rookie.

User Stats

2,882
Posts
2,011
Votes
Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
2,011
Votes |
2,882
Posts
Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
Replied Jul 3 2022, 19:37

@John Underwood, it was *your* words from which I was learning!  :D  Thank goodness some of you went ahead.  

User Stats

2
Posts
0
Votes
Replied Jul 5 2022, 09:19

Following as I am interested in the same. Are you in Salt Lake? It sounds like you need a license to do this in Salt Lake but it's a bit confusing since I see a lot of airbnb listings that are not in the zoned areas and it says "The City does not currently have regulations or allowances for land use known as “short-term rental.” Currently, the City generally categorizes short-term rentals, such as Airbnb or Vrbo, as hotel, motel, or bed and breakfast uses because the lease period is less than 30 days.".  https://www.slc.gov/planning/f...

Any info on this would be appreciated!

User Stats

2,607
Posts
2,140
Votes
Will Fraser
  • Real Estate Broker
  • Salt Lake City, UT
2,140
Votes |
2,607
Posts
Will Fraser
  • Real Estate Broker
  • Salt Lake City, UT
Replied Jul 5 2022, 10:35

@Hunter Gibson I'm local to the valley and operate several Airbnbs in other markets.  I'd be happy to throw my 2 cents in the ring as needed.

User Stats

252
Posts
97
Votes
Andrew Street
97
Votes |
252
Posts
Andrew Street
Replied Jul 5 2022, 12:51

Hey Hunter - Always willing to connect and talk Airbnb!

User Stats

339
Posts
195
Votes
Joshua Messinger
  • Realtor
  • Poconos, PA
195
Votes |
339
Posts
Joshua Messinger
  • Realtor
  • Poconos, PA
Replied Jul 5 2022, 13:24

Hey @Hunter Gibson

If you ever need help with anything don't hesitate to reach out! 

All the best,

Josh