I host over 100 AirBnB Listings in CA and AZ **Ask Me Anything**
Hey BP Gang,
I'm a real estate broker in Sacramento, California (23 yo) and I host about 125 properties on AirBnB and VRBO, mostly in Sacramento, CA and Phoenix/Scottsdale, AZ.
I am new to BiggerPockets but am hoping to help out as much as possible! I have followed quite a few STR threads and I will continue to monitor this one if anyone could use some general or technical advice. My partner and I are quite savvy with the software platforms if that helps. :-)
So ask me anything! I am here to help.
same question - what's the difference between hosting and managing?
Quote from @Carlos Ptriawan:
Quote from @Noah Laker:
Hey BP Gang,
I'm a real estate broker in Sacramento, California (23 yo) and I host about 125 properties on AirBnB and VRBO, mostly in Sacramento, CA and Phoenix/Scottsdale, AZ.
I am new to BiggerPockets but am hoping to help out as much as possible! I have followed quite a few STR threads and I will continue to monitor this one if anyone could use some general or technical advice. My partner and I are quite savvy with the software platforms if that helps. :-)
So ask me anything! I am here to help.
- Do you manage the property that's owned by someone else ?
- What is your automation strategy especially cleaning scheduling and dealing with customer requests, esp. at midnight?
Yes, I am a property manager hired by the property owners. My AirBnB company is called WISHSTR.
For cleaning, we use ResortCleaning software and do everything in house. I actually own a cleaning company as well (10k+ cleanings completed!!!)
Customer requests are handled by my 24/7 customer service staff, and we have two staffed portfolios so spillover inquiries can even be handled by a different staff group.
Quote from @Jonathan Feliciano:
@Noah Laker
What is “hosting”? I’ve been seeing this word pop up more frequently on topics related to real estate.
It generally relates to "Hosting" on AirBnB and VRBO, AKA furnished Short Term Rentals.
Quote from @Nicholas L.:
same question - what's the difference between hosting and managing?
The two words are often used interchangeably in the STR world, but full service property management typically involves tenants and security deposits and asset management. For AirBnB "Co-Hosting," it has a lot more to do with customer service and monitoring the booking platforms, coordinating with cleaners etc.
Quote from @Jonathan Feliciano:Hosting is referring to being the owner and operator of a short term rental, like Airbnb. The owner of the rental can be the host or they can outsource someone else to host for a fee or percentage of the income.
@Noah Laker
What is “hosting”? I’ve been seeing this word pop up more frequently on topics related to real estate.
hi @Noah Laker thanks so much! It looks like you have some arbitrage units. How did you get your first one? I own LTR in Colorado; used to do short term many years ago but am trying to get into arbitrage. I've taken a course and contacted hundreds of places but don't have a unit yet. Any suggestions? Thanks in advance!
Hi Noah, could you tell me if you use digital guidebooks for the listings you host?
Quote from @Noah Laker:
Quote from @Julia Ferris:
Quote from @Noah Laker:Do you have a good short term rental agreement?
Hey BP Gang,
I'm a real estate broker in Sacramento, California (23 yo) and I host about 125 properties on AirBnB and VRBO, mostly in Sacramento, CA and Phoenix/Scottsdale, AZ.
Thank you!
I am new to BiggerPockets but am hoping to help out as much as possible! I have followed quite a few STR threads and I will continue to monitor this one if anyone could use some general or technical advice. My partner and I are quite savvy with the software platforms if that helps. :-)
So ask me anything! I am here to help.
Hey Julia, here's an agreement you can use and modify if you wish. I am NOT a lawyer and I suggest you show it to your lawyer before using it.
I have a few! Thanks so much for doing this!
1. Do you use a pricing software and which one?
2. How do you handle guest requests while you are out of the state?
3. What suggestions do you have for bedding, mattress, towels, etc? Or best place to purchase?
4. Do you have a separate LLC for each property or is everything one umbrella?
5. How much do you charge for management?
6. What keypads do you use?
7. How do you manage places that have gates and need remote controls?
8. What do you do about negative reviews?
9. What is your maintenance routine? do you have someone check on the property every 6 months? do you have bug spray every month? Landscaping? etc.
10. What do you expect or have the owners do? For example: Do they need to take out the trash bins? Do the owners do the laundry and put towels etc in a closet for the cleaners to put out? Do the owners supply things like soaps, dishwasher, laundry detergent? If they are out of town how do they get that to the property?
Do you use property managers or software?
Thank you
Quote from @Carrie Veatch:
hi @Noah Laker thanks so much! It looks like you have some arbitrage units. How did you get your first one? I own LTR in Colorado; used to do short term many years ago but am trying to get into arbitrage. I've taken a course and contacted hundreds of places but don't have a unit yet. Any suggestions? Thanks in advance!
We have a course for arbitrage here: WIshstr.com/education
However, I think owning real estate is the best way to go for long term strategic growth. Arbitrage is very unstable and I don't promote it.
Quote from @Steve Bebek:
Do you use property managers or software?
Thank you
For STR I use Hospitable. For LTR I use Buildium, also very familiar with Yardi for large portfolios.
#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
- 3,645
- Votes |
- 7,041
- Posts
#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
@Noah Laker can you please outline what softwre you use to manage all this and an overview of your personnel and assigned tasks?
Quote from @Khoi Le:Hey Khoi, it's my pleasure, and thanks for interacting.
I have a few! Thanks so much for doing this!
1. Do you use a pricing software and which one?
2. How do you handle guest requests while you are out of the state?
3. What suggestions do you have for bedding, mattress, towels, etc? Or best place to purchase?
4. Do you have a separate LLC for each property or is everything one umbrella?
5. How much do you charge for management?
6. What keypads do you use?
7. How do you manage places that have gates and need remote controls?
8. What do you do about negative reviews?
9. What is your maintenance routine? do you have someone check on the property every 6 months? do you have bug spray every month? Landscaping? etc.
10. What do you expect or have the owners do? For example: Do they need to take out the trash bins? Do the owners do the laundry and put towels etc in a closet for the cleaners to put out? Do the owners supply things like soaps, dishwasher, laundry detergent? If they are out of town how do they get that to the property?
1) We run our pricing through PriceLabs, with some daily human intervention.
2) We have local and offshore staff who handle all guest concerns. I mostly focus on company administration and sales.
3) Zinus mattresses are great. Amazon is usually the best place to get towels and bedding, you really can't beat the prices:quality ratio. We used to order pallets from a direct supplier before Covid interrupted their supply chain.
4) We have separate LLC's under our investment corporation for properties that we OWN. For arbitrage and cohosting we have things under a separate corporation. (Talk to a lawyer)
5) We charge 20%, or as low as 15% for large clients - we call this a "preferred rate."
6) We use RemoteLock hardware and software; at our scale the other brands like Schlage and August start to glitch and are quite unreliable.
7) Those suck. But when we do have them, we just send automatic reminders to the guest 2-3x during their stay to be sure to leave the thing before they depart.
8) Try to have them removed, otherwise leave a public response.
9) We have landscapers and pool maintenance and pest for all properties as needed, on recurring schedules which vary by climate (AZ / CA). We also have a quarterly preventative maintenance schedule which includes air filters, batteries, lightbulbs, water filters, kitchenware & supplies, cleaning detail, and curb appeal.
10) All they have to do is pay the cleaning and maintenance bills. We pretty much handle everything else. I started a cleaning company in February of 2021 which has now done over 10,000 turnover cleanings. We have a warehouse with racks and bins full of everything you could ever dream of as an Airbnb host.
Hope this helps man :)
Quote from @Drew Sygit:
@Noah Laker can you please outline what softwre you use to manage all this and an overview of your personnel and assigned tasks?
Hey Drew, we use the following softwares for STR management:
Hospitable - PMS
ResortCleaning - Tracks cleaning schedule, notes, and photos
PriceLabs - Sets our prices
RemoteLock - Tracks the battery life and connectivity of our smartlock infrastructure
Google Enterprise - Most of our company operations happen within Google, helpful for live collaboration
Quote from @Noah Laker:
Quote from @Steve Bebek:
Do you use property managers or software?
Thank you
Thank you Noah
For STR I use Hospitable. For LTR I use Buildium, also very familiar with Yardi for large portfolios.
The story in STRs right now is the slight softening of revenues due to an influx of Airbnb properties during the pandemic. I have heard this from our STR investor clients in Colorado. The ones in Denver and Colorado Springs continue to do well, but they've seen a small decline from the crazy numbers of 2020 and 2021. What kind of change have you seen in the properties you manage?
-
Real Estate Agent COLORADO (#FA100071747)
- 720-460-1770
- http://www.tiktok.com/@erinandjames_realestate
- [email protected]
Thanks James, I have no STRs at this time. Will be doing 1031 on a LTR and buying a STR.
Thanks for the info.
Quote from @Noah Laker:
Quote from @Drew Sygit:
@Noah Laker can you please outline what softwre you use to manage all this and an overview of your personnel and assigned tasks?
Hey Drew, we use the following softwares for STR management:
Hospitable - PMS
ResortCleaning - Tracks cleaning schedule, notes, and photos
PriceLabs - Sets our prices
RemoteLock - Tracks the battery life and connectivity of our smartlock infrastructure
Google Enterprise - Most of our company operations happen within Google, helpful for live collaboration
Thanks Noah
Hey Noah,
Thanks for posting your advice.
A few questions, what properties draw in the most revenue/occupancy in Sacramento?
What are the average occupancy rates?
Any specific neighborhoods within the region to look into?
Quote from @Lovepreet Ralh:
Hey Noah,
Thanks for posting your advice.
A few questions, what properties draw in the most revenue/occupancy in Sacramento?
What are the average occupancy rates?
Any specific neighborhoods within the region to look into?
Downtown, Midtown, and Oak Park have all been good ROI in Sacramento. Big properties rented by the room are an underserved niche, so I might try that.
I am a real estate broker here in Sacramento if you want to discuss this acquisition further. :)
Quote from @James Carlson:
The story in STRs right now is the slight softening of revenues due to an influx of Airbnb properties during the pandemic. I have heard this from our STR investor clients in Colorado. The ones in Denver and Colorado Springs continue to do well, but they've seen a small decline from the crazy numbers of 2020 and 2021. What kind of change have you seen in the properties you manage?
It's quite regional. California has remained fairly sturdy, while Scottsdale AZ (no barriers to entry until right now as City Council finally steps in) saw a dramatic drop in April. AZ is now recovering but not quite to the levels we saw last couple years.
@Noah Laker.
Hi Noah. Have you worked with Evolve before? Buying in East Mesa a SFR as I commute each week but will be doing STR on weekends. Advice on good management/cleaning services? Thanks.
Quote from @Matthew Church:
@Noah Laker.
Hi Noah. Have you worked with Evolve before? Buying in East Mesa a SFR as I commute each week but will be doing STR on weekends. Advice on good management/cleaning services? Thanks.
Hi Matthew,
I manage a number of luxury homes in Mesa, AZ. Evolve is not full service. Their rate is low as is their scope of work. My company WISHSTR is full service, we handle cleaning and maintenance and guest services and everything else. DM me :)
Hi Noah,
What do you guys use for a channel manager when listing on multiple booking platforms? I’d like to link my Airbnb, vrbo and direct booking together so they sync as dates are booked.