Airbnb Co-Hosting in the Los Angeles Area
Real Estate Agent · Westlake Village, CA · Member since 2021 · 64 posts · 41 votes
Airbnb Co-Hosting in the Los Angeles Area
Most Popular Reply
Dave StokleyBusiness Member
Property Manager · Cleveland, OH · Member since 2015 · 705 posts · 799 votesQuote from @Ethan Hanes:
Quote from @Michael Baum:
Hey @Ethan Hanes, why would someone hire you do something you have never done before? You want to learn on the job with someone else's investment.
Basically you could ruin someone's property on VRBO and AirBNB so they have to start over. I understand you want to get started, but maybe you should start saving and buy a property and learn that way.
Michael,
Thanks for your response. The same reason anyone would ever hire a beginner. To give them experience and to get a discount. There would be no one starting any career if they weren’t allowed to be a “beginner”. In our situation, we would be sure that the expectations are laid out clearly with the owner. We would create a contract that demonstrates that the owner can relieve us of our co-hosting duties whenever. However, we both are commercial real estate agents and know the ins and outs of property management, solely by listening to other property owners.
Lawyers, accountants, financial advisors, etc., all typically get a job at a firm where they learn from a veteran. I would NEVER hire a brand new professional in any of these fields no matter how much of a discount they were offering. Same goes for someone managing my real estate.
It seems like you have two options to gain some experience:
1. Buy your own property for STR and learn the ropes there, or
2. Go work for another PM for a year.
Or you could probably do both!
I don’t think anyone is saying you shouldn’t do it, but just that it’s unreasonable to ask someone to trust you with a hugely valuable asset which you have no prior experience with.
good luck!
27 Replies
- 4yDave StokleyBusiness MemberProperty Manager · Cleveland, OH · Member since 2015 · 705 posts · 799 votes
Having rock-solid answers to these questions is a good start:
What kind of experience do you have in the STR market?
What do you do differently than your competition?
What do you do better than your competition?
How are you going to market to these hosts?
- 4yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Are you licensed and insured to manage property for people?
- 4yMichael BaumPro MemberOlympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
Hey @Ethan Hanes, why would someone hire you do something you have never done before? You want to learn on the job with someone else's investment.
Basically you could ruin someone's property on VRBO and AirBNB so they have to start over. I understand you want to get started, but maybe you should start saving and buy a property and learn that way.
- Real Estate Agent · Westlake Village, CA · Member since 2021 · 64 posts · 41 votes4y
Quote from @John Underwood:
Are you licensed and insured to manage property for people?
I have an LLC and a real estate license in California.
- Real Estate Agent · Westlake Village, CA · Member since 2021 · 64 posts · 41 votes4y
Quote from @Michael Baum:
Hey @Ethan Hanes, why would someone hire you do something you have never done before? You want to learn on the job with someone else's investment.
Basically you could ruin someone's property on VRBO and AirBNB so they have to start over. I understand you want to get started, but maybe you should start saving and buy a property and learn that way.
Michael,
Thanks for your response. The same reason anyone would ever hire a beginner. To give them experience and to get a discount. There would be no one starting any career if they weren’t allowed to be a “beginner”. In our situation, we would be sure that the expectations are laid out clearly with the owner. We would create a contract that demonstrates that the owner can relieve us of our co-hosting duties whenever. However, we both are commercial real estate agents and know the ins and outs of property management, solely by listening to other property owners. - 4yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Quote from @Ethan Hanes:
Quote from @John Underwood:
Are you licensed and insured to manage property for people?
I have an LLC and a real estate license in California.
An LLC does nothing for being able to manage properties.
So are you licensed and insured to manage other people's properties?
You may be, I'm just checking.
- Real Estate Agent · Westlake Village, CA · Member since 2021 · 64 posts · 41 votes4y
Quote from @John Underwood:
Quote from @Ethan Hanes:
Quote from @John Underwood:
Are you licensed and insured to manage property for people?
I have an LLC and a real estate license in California.
An LLC does nothing for being able to manage properties.
So are you licensed and insured to manage other people's properties?
You may be, I'm just checking.
No. What kind of licensing and insurance is required?
- 4yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Quote from @Ethan Hanes:
Quote from @John Underwood:
Quote from @Ethan Hanes:
Quote from @John Underwood:
Are you licensed and insured to manage property for people?
I have an LLC and a real estate license in California.
An LLC does nothing for being able to manage properties.
So are you licensed and insured to manage other people's properties?
You may be, I'm just checking.
No. What kind of licensing and insurance is required?
Well it appears neither of us knows. But you should find out what it takes to be legal before trying to fo it.
Just trying to keep you out of trouble.
- 4yDave StokleyBusiness MemberProperty Manager · Cleveland, OH · Member since 2015 · 705 posts · 799 votesIt may not be required. It’s a state by state thing. Just Google it.
Quote from @John Underwood:
Quote from @Ethan Hanes:
Quote from @John Underwood:
Quote from @Ethan Hanes:
Quote from @John Underwood:
Are you licensed and insured to manage property for people?
I have an LLC and a real estate license in California.
An LLC does nothing for being able to manage properties.
So are you licensed and insured to manage other people's properties?
You may be, I'm just checking.
No. What kind of licensing and insurance is required?
Well it appears neither of us knows. But you should find out what it takes to be legal before trying to fo it.
Just trying to keep you out of trouble.
- 4yDave StokleyBusiness MemberProperty Manager · Cleveland, OH · Member since 2015 · 705 posts · 799 votesI get and appreciate your mentality, Ethan, because I’m the same way: I’m super self-confident and pretty damn sure I can be good at whatever I decide to dedicate myself to. But, I agree with Michael. In almost any industry most people don’t start out on their own with no experience. Rather they typically get a job working under someone with experience to learn the ropes, or like Michael is suggesting and like I did, create their own experience it by doing it for themselves first.
Quote from @Ethan Hanes:
Quote from @Michael Baum:
Hey @Ethan Hanes, why would someone hire you do something you have never done before? You want to learn on the job with someone else's investment.
Basically you could ruin someone's property on VRBO and AirBNB so they have to start over. I understand you want to get started, but maybe you should start saving and buy a property and learn that way.
Michael,
Thanks for your response. The same reason anyone would ever hire a beginner. To give them experience and to get a discount. There would be no one starting any career if they weren’t allowed to be a “beginner”. In our situation, we would be sure that the expectations are laid out clearly with the owner. We would create a contract that demonstrates that the owner can relieve us of our co-hosting duties whenever. However, we both are commercial real estate agents and know the ins and outs of property management, solely by listening to other property owners.
Lawyers, accountants, financial advisors, etc., all typically get a job at a firm where they learn from a veteran. I would NEVER hire a brand new professional in any of these fields no matter how much of a discount they were offering. Same goes for someone managing my real estate.
It seems like you have two options to gain some experience:
1. Buy your own property for STR and learn the ropes there, or
2. Go work for another PM for a year.
Or you could probably do both!
I don’t think anyone is saying you shouldn’t do it, but just that it’s unreasonable to ask someone to trust you with a hugely valuable asset which you have no prior experience with.
good luck! - 4yMichael BaumPro MemberOlympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
Hey @Ethan Hanes, so everyone does have to start somewhere, but usually that is under someone who has the experience. Internships etc.
Like @Dave Stokley, I usually don't hire recent college grads that have never actually done the work. The company I worked for was huge so getting RCG's was acceptable for some entry level jobs. They have the infrastructure and a lot of people overseeing new peoples work while they learn.
So would you take your car for major service, like a head gasket, to a shop that had never touched a car before? They will do the job for 1/4 the cost of experienced shops. it's your only car and you rely on it for everything.
That is kinda what you are asking of owners.
- Real Estate Agent · Westlake Village, CA · Member since 2021 · 64 posts · 41 votes4y
Quote from @John Underwood:
Quote from @Ethan Hanes:
Quote from @John Underwood:
Quote from @Ethan Hanes:
Quote from @John Underwood:
Are you licensed and insured to manage property for people?
I have an LLC and a real estate license in California.
An LLC does nothing for being able to manage properties.
So are you licensed and insured to manage other people's properties?
You may be, I'm just checking.
No. What kind of licensing and insurance is required?
Well it appears neither of us knows. But you should find out what it takes to be legal before trying to fo it.
Just trying to keep you out of trouble.
Agreed! The last thing I’d want is to get in trouble!
- Real Estate Agent · Westlake Village, CA · Member since 2021 · 64 posts · 41 votes4y
Quote from @Dave Stokley:
I get and appreciate your mentality, Ethan, because I’m the same way: I’m super self-confident and pretty damn sure I can be good at whatever I decide to dedicate myself to. But, I agree with Michael. In almost any industry most people don’t start out on their own with no experience. Rather they typically get a job working under someone with experience to learn the ropes, or like Michael is suggesting and like I did, create their own experience it by doing it for themselves first.Quote from @Ethan Hanes:
Quote from @Michael Baum:
Hey @Ethan Hanes, why would someone hire you do something you have never done before? You want to learn on the job with someone else's investment.
Basically you could ruin someone's property on VRBO and AirBNB so they have to start over. I understand you want to get started, but maybe you should start saving and buy a property and learn that way.
Michael,
Thanks for your response. The same reason anyone would ever hire a beginner. To give them experience and to get a discount. There would be no one starting any career if they weren’t allowed to be a “beginner”. In our situation, we would be sure that the expectations are laid out clearly with the owner. We would create a contract that demonstrates that the owner can relieve us of our co-hosting duties whenever. However, we both are commercial real estate agents and know the ins and outs of property management, solely by listening to other property owners.
Lawyers, accountants, financial advisors, etc., all typically get a job at a firm where they learn from a veteran. I would NEVER hire a brand new professional in any of these fields no matter how much of a discount they were offering. Same goes for someone managing my real estate.
It seems like you have two options to gain some experience:
1. Buy your own property for STR and learn the ropes there, or
2. Go work for another PM for a year.
Or you could probably do both!
I don’t think anyone is saying you shouldn’t do it, but just that it’s unreasonable to ask someone to trust you with a hugely valuable asset which you have no prior experience with.
good luck!Thank you for the advice! I am definitely going to try to learn the ropes myself. I am a very analytical person and will never make any claims or give any advice outside of my own ability. Again, to reiterate, I am looking to Co-Host. The property owner KEEPS COMPLETE control of the property. In the event they do not like my services, they can cancel it. There really is no risk involved.
- Real Estate Agent · Westlake Village, CA · Member since 2021 · 64 posts · 41 votes4yMichael, I’m a bit confused by your response. Airbnb co-hosting is not like a car shop. That really wasn’t the best example. Airbnb co-hosting is not rocket science. I have experience dealing with real estate contracts (expense sheets, profit and loss statements, net income, etc.), so I already have experience in the field.
Quote from @Michael Baum:
Hey @Ethan Hanes, so everyone does have to start somewhere, but usually that is under someone who has the experience. Internships etc.
Like @Dave Stokley, I usually don't hire recent college grads that have never actually done the work. The company I worked for was huge so getting RCG's was acceptable for some entry level jobs. They have the infrastructure and a lot of people overseeing new peoples work while they learn.
So would you take your car for major service, like a head gasket, to a shop that had never touched a car before? They will do the job for 1/4 the cost of experienced shops. it's your only car and you rely on it for everything.
That is kinda what you are asking of owners.
My job is to be sure everything is running properly and the owner is getting the most net income possible. - 4yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Quote from @Ethan Hanes:
Michael, I’m a bit confused by your response. Airbnb co-hosting is not like a car shop. That really wasn’t the best example. Airbnb co-hosting is not rocket science. I have experience dealing with real estate contracts (expense sheets, profit and loss statements, net income, etc.), so I already have experience in the field.Quote from @Michael Baum:
Hey @Ethan Hanes, so everyone does have to start somewhere, but usually that is under someone who has the experience. Internships etc.
Like @Dave Stokley, I usually don't hire recent college grads that have never actually done the work. The company I worked for was huge so getting RCG's was acceptable for some entry level jobs. They have the infrastructure and a lot of people overseeing new peoples work while they learn.
So would you take your car for major service, like a head gasket, to a shop that had never touched a car before? They will do the job for 1/4 the cost of experienced shops. it's your only car and you rely on it for everything.
That is kinda what you are asking of owners.
My job is to be sure everything is running properly and the owner is getting the most net income possible.I agree with Michael that you do need some experience before many people will trust you. Kinda like a house that has a bunch of positive reviews vs one that doesn't.
- 4yDave StokleyBusiness MemberProperty Manager · Cleveland, OH · Member since 2015 · 705 posts · 799 votesYou’ve made several comments now that are worrisome and reinforce my feeling that you’re a little naive about what you’re trying to do:
Quote from @Ethan Hanes:
Michael, I’m a bit confused by your response. Airbnb co-hosting is not like a car shop. That really wasn’t the best example. Airbnb co-hosting is not rocket science. I have experience dealing with real estate contracts (expense sheets, profit and loss statements, net income, etc.), so I already have experience in the field.Quote from @Michael Baum:
Hey @Ethan Hanes, so everyone does have to start somewhere, but usually that is under someone who has the experience. Internships etc.
Like @Dave Stokley, I usually don't hire recent college grads that have never actually done the work. The company I worked for was huge so getting RCG's was acceptable for some entry level jobs. They have the infrastructure and a lot of people overseeing new peoples work while they learn.
So would you take your car for major service, like a head gasket, to a shop that had never touched a car before? They will do the job for 1/4 the cost of experienced shops. it's your only car and you rely on it for everything.
That is kinda what you are asking of owners.
My job is to be sure everything is running properly and the owner is getting the most net income possible.
”we both are commercial real estate agents and know the ins and outs of property management, solely by listening to other property owners.”
Huh? Please don’t ever use this line to try to sell your services.
”There really is no risk involved.”
Yeah only someone’s ability to pay their mortgage.
”Airbnb co-hosting is not rocket science. I have experience dealing with real estate contracts (expense sheets, profit and loss statements, net income, etc.), so I already have experience in the field.”
If it’s so easy, why are you here asking advice? And moreover, why would anyone pay you to do something so easy?
Asking people for advice then telling the people generous enough to offer it that what they do is so easy that any old real estate agent could do it probably isn’t going to make you many friends here.
- 4yMichael BaumPro MemberOlympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
Hey @Ethan Hanes, it was a simple analogy to point out lack of experience and how hard it is to sell it. I will say there is so much more to management than the nuts and bolts. Most of what you are talking about experience wise has zero to do with running a STR. If all you are trying to do is get the maximum net profit, it will be a loser from the get.
If it ain't rocket surgery, get to it. I agree with @Dave Stokley, why even ask if you got it all in hand?
I appreciate your enthusiasm, but your attitude here has shown you might not have the temperament run a STR. Dealing with guests, neighbors, police, the city, the county, VRBO, AirBNB, cleaners, handy people...the list is almost endless and they will be much tougher on you than we are.
- Real Estate Agent · The Short Term Shop / Florida Emerald and Forgotten Coasts · Member since 2022 · 217 posts · 126 votes4y
If I listened to everyone who told me I couldn't do something, I'd still be welding on the oil rigs in Saskatchewan, Canada. That being said, you are jumping into a world that is flooded with professionals. Have you thought about bringing an experienced person on to your team to help you with the intricacies of making sure your business is 100% reliable and safe (for you). I think you need to reach out in your area and grab up a partner who knows the ins and outs. That will be your easiest avenue.
Read "Exactly What to Say for Real Estate Agents", if you haven't yet. That will help you in the verbiage you need to sell. Don't bring negative into your sales pitch, and fake it until you make it.Good luck! Make sure you have your butt covered!
- 4yDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
Why would anyone hire you if you have 0 STR experience?
How can you address this and get experience?
Logical Property Management4.9460 Reviews - Real Estate Agent · Westlake Village, CA · Member since 2021 · 64 posts · 41 votes4y
Quote from @Dave Stokley:
You’ve made several comments now that are worrisome and reinforce my feeling that you’re a little naive about what you’re trying to do:Quote from @Ethan Hanes:
Michael, I’m a bit confused by your response. Airbnb co-hosting is not like a car shop. That really wasn’t the best example. Airbnb co-hosting is not rocket science. I have experience dealing with real estate contracts (expense sheets, profit and loss statements, net income, etc.), so I already have experience in the field.Quote from @Michael Baum:
Hey @Ethan Hanes, so everyone does have to start somewhere, but usually that is under someone who has the experience. Internships etc.
Like @Dave Stokley, I usually don't hire recent college grads that have never actually done the work. The company I worked for was huge so getting RCG's was acceptable for some entry level jobs. They have the infrastructure and a lot of people overseeing new peoples work while they learn.
So would you take your car for major service, like a head gasket, to a shop that had never touched a car before? They will do the job for 1/4 the cost of experienced shops. it's your only car and you rely on it for everything.
That is kinda what you are asking of owners.
My job is to be sure everything is running properly and the owner is getting the most net income possible.
”we both are commercial real estate agents and know the ins and outs of property management, solely by listening to other property owners.”
Huh? Please don’t ever use this line to try to sell your services.
”There really is no risk involved.”
Yeah only someone’s ability to pay their mortgage.
”Airbnb co-hosting is not rocket science. I have experience dealing with real estate contracts (expense sheets, profit and loss statements, net income, etc.), so I already have experience in the field.”
If it’s so easy, why are you here asking advice? And moreover, why would anyone pay you to do something so easy?
Asking people for advice then telling the people generous enough to offer it that what they do is so easy that any old real estate agent could do it probably isn’t going to make you many friends here.
I’m confused. Don’t you co-host? - Real Estate Agent · Westlake Village, CA · Member since 2021 · 64 posts · 41 votes4y
Quote from @Drew Sygit:
Why would anyone hire you if you have 0 STR experience?
How can you address this and get experience?
Drew,
This is a good thought. I’m expecting my first client to naturally be someone I know or someone I have worked with previously on something else real estate related.
This way, I can gain experience and learn to build my experience.
Ethan
- Real Estate Agent · Westlake Village, CA · Member since 2021 · 64 posts · 41 votes4y
Quote from @Napoleon DeCiutiis:
If I listened to everyone who told me I couldn't do something, I'd still be welding on the oil rigs in Saskatchewan, Canada. That being said, you are jumping into a world that is flooded with professionals. Have you thought about bringing an experienced person on to your team to help you with the intricacies of making sure your business is 100% reliable and safe (for you). I think you need to reach out in your area and grab up a partner who knows the ins and outs. That will be your easiest avenue.
Read "Exactly What to Say for Real Estate Agents", if you haven't yet. That will help you in the verbiage you need to sell. Don't bring negative into your sales pitch, and fake it until you make it.Good luck! Make sure you have your butt covered!
So good Napoleon. Thanks for the input. I moved out to California from Minnesota and pretty much everyone was telling me to stay in Minnesota and get a “comfortably paying” full time job. I didn’t want to be stuck in the cycle at 20, so I decided to move to California and start life as an entrepreneur! I can relate to you in a lot of ways.
I naturally tend to be extremely cautious and analytical when it comes to contracts, claims, forms, legality, etc. I’m going to do my best to stay out of trouble in this business but I’m so excited to get started.
- Member since 2019 · 1 post · 0 votes4y
@Ethan Hanes why partner you sound educated enough to cut the middle man and do it yourself!
- 4yDave StokleyBusiness MemberProperty Manager · Cleveland, OH · Member since 2015 · 705 posts · 799 votes
Quote from @Ethan Hanes:
Quote from @Dave Stokley:
You’ve made several comments now that are worrisome and reinforce my feeling that you’re a little naive about what you’re trying to do:Quote from @Ethan Hanes:
Michael, I’m a bit confused by your response. Airbnb co-hosting is not like a car shop. That really wasn’t the best example. Airbnb co-hosting is not rocket science. I have experience dealing with real estate contracts (expense sheets, profit and loss statements, net income, etc.), so I already have experience in the field.Quote from @Michael Baum:
Hey @Ethan Hanes, so everyone does have to start somewhere, but usually that is under someone who has the experience. Internships etc.
Like @Dave Stokley, I usually don't hire recent college grads that have never actually done the work. The company I worked for was huge so getting RCG's was acceptable for some entry level jobs. They have the infrastructure and a lot of people overseeing new peoples work while they learn.
So would you take your car for major service, like a head gasket, to a shop that had never touched a car before? They will do the job for 1/4 the cost of experienced shops. it's your only car and you rely on it for everything.
That is kinda what you are asking of owners.
My job is to be sure everything is running properly and the owner is getting the most net income possible.
”we both are commercial real estate agents and know the ins and outs of property management, solely by listening to other property owners.”
Huh? Please don’t ever use this line to try to sell your services.
”There really is no risk involved.”
Yeah only someone’s ability to pay their mortgage.
”Airbnb co-hosting is not rocket science. I have experience dealing with real estate contracts (expense sheets, profit and loss statements, net income, etc.), so I already have experience in the field.”
If it’s so easy, why are you here asking advice? And moreover, why would anyone pay you to do something so easy?
Asking people for advice then telling the people generous enough to offer it that what they do is so easy that any old real estate agent could do it probably isn’t going to make you many friends here.
I’m confused. Don’t you co-host?Yes. That’s why I’m offering advice. What are you confused about?
- Houston · Member since 2022 · 7 posts · 0 votes4y
I live in CA so never needed to get an Airbnb here but I was told short term stay is not allowed. Guest stay for a month at least. Anyone knows if this is accurate?
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