STR Investors! Do you also regularly use your/other STRs?

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STR Investors! Do you also regularly use your/other STRs?

Andres Murillo
Real Estate Agent · Los Angeles, CA · Member since 2022 · 137 posts · 106 votes

Just curious to learn how many investors are avid users compared to those that are solely looking at the market as an asset class.

If you own STRs do you find yourself staying in other STRs or even your own on a regular basis?

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Chris Schwagerl
Rental Property Investor · Minneapolis, MN · Member since 2016 · 34 posts · 22 votes
3y

I LOVE sharing our STRs with others, and I LOVE staying in STRs.

The best one was back in 2012 when my bride and I were on our honeymoon.  We rented the top floor of a farmhouse overlooking the lake in Interlachen, Switzerland.  This was back before a lot of the automations that we all use today.  The instructions to get to the house was:

"Arrive via train and ask a local which one is Lake Brienz.  Take the bus road that runs parallel to the lake until you hear the bells of our cows.  Go to the second floor and make yourself at home."

That whole week, we were terrified we were in the wrong spot!

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  • Luke CarlPro Member
    Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
    3y

    I stay in mine more than I used to 

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  • Sarah KensingerPro Member
    Real Estate Consultant · OH · Member since 2023 · 2k+ posts · 1k+ votes
    3y

    We won't really stay in a hotel unless it's a quick overnight stop along the interstate. And if we have extended family along I find a one-night STR stay for that. So even though we are getting into real estate, we still plan on using STR extensively.

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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    3y

    Just got home from my cabin in Pigeon Forge a few hours ago.

    2Reply
  • Ian Tyndall
    Investor · VA AZ, SC · Member since 2017 · 173 posts · 172 votes
    3y

    Yes, I like to travel for leisure with my family and STRs are a great option for that style of travel. My properties are all geared for families, and are places that I enjoy staying at with my family. 

    1Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    3y
    Quote from @Andres Murillo:

    Just curious to learn how many investors are avid users compared to those that are solely looking at the market as an asset class.

    If you own STRs do you find yourself staying in other STRs or even your own on a regular basis?

     Funny you mention that.  The very first cabin I purchased in the Smokies in 2005, I bought as a private vacation retreat for our family and extended family.  Only after I bought it did I notice that people were actually renting their places out.  I personally own 6 properties in the Smokies right now, and I'll stay in a different one each trip out, mainly as a remote office.  

    [email protected]806-672-7102
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  • Lauren Kormylo
    Rental Property Investor · Phoenix, AZ and Rehoboth Beach DE · Member since 2019 · 1k+ posts · 1k+ votes
    3y

    I've vacationed in STRs for decades. I planned to stay for a week in my own STR this summer, but the dates that the grand kids can go are already booked, so I had to rent another place, LOL.

    1Reply
  • Lisa Graesser
    Rental Property Investor · The Villages, FL · Member since 2017 · 341 posts · 398 votes
    3y

    When our places are not rented, we stay as often as possible. This is a great opportunity to occupy and assess the available amenities and replace or add items that are needed for daily use. We will attend to any maintenance issues and do an inventory and update linens, pillows or kitchen pans or dishes. I love staying at each house and  getting a guests perspective of how they are lived in and know that whatever you are looking for is easily found or make sure items needed are provided. Plus it is so nice to  get away to place you feel at home and know it is also appreciated by others 

    0Reply
  • Dan H.Pro Member
    Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
    3y

    We let friends and family use our STRs but have not stayed in any of our STRs in many years. Our son stays in our STRs slightly regularly.

    When traveling we stay in other people's STR if we are more than just me and wife or if the stay is going to be more than a few nights. The cleaning fee typically make it cheaper to rent a hotel OOS if it is just the wife and I for 1 or 2 nights.

    0Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y

    We bought ours with the intent of staying in it more often, but we're too busy with kids and their school/work and it's not far enough away to feel like a true getaway. I definitely see us using it more once the kids are grown.

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  • Andrew SteffensBusiness Member
    Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
    3y

    Im married with no kids, and most of the ones I own that would even be appealing to stay at regularly rent for over $1,000 a night so its not really worth it unless I know 100% it will be vacant.

    When traveling I usually stay at Hiltons due to ease and status with them.  The exception is when I am at a mountain destination and want a cabin.

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  • Joel Case
    Rental Property Investor · Ocean Springs, MS · Member since 2022 · 349 posts · 301 votes
    3y

    I have stayed at STRs when I travel unless a hotel is cheaper. When our family gets together we generally rent a large STR. I stayed in my STR as a test run, but in general I do not stay there as it's a mile from my home.

    0Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    3y

    I always prefer a STR...even if it is a few bucks more. The only times I use hotels are when there are no STRs where I want to go.....I.E. the Vegas Strip, downtown Phoenix within walking distance to the sports venues, etc.....

    Or when we want to go to a true 'resort' during the summer. Y'know, where you lay out by the pool and people bring you drinks....that sort of thing.

    0Reply
  • Leslie Anne Morris
    Real Estate Agent · Smoky Mountains, TN · Member since 2022 · 1k+ posts · 984 votes
    3y

    Yep! One of the perks of ownership. 

    2Reply
  • Jay ThomasPro Member
    Real Estate Agent · Houston, TX · Member since 2021 · 1k+ posts · 715 votes
    3y

    I've recently started investing in real estate, but I'm not giving up on short-term rentals (STR). Even with our new investments, my family and I still plan to utilize STRs when hitting the road. Whether it's a quick overnight stop along the interstate or an extended stay with family members, STRs offer a great option for our travel needs. So while we are expanding into real estate, STRs will remain part of our journey.

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  • Conner Olsen
    Real Estate Agent · Austin, TX · Member since 2020 · 1k+ posts · 941 votes
    3y

    I don't stay in mine often. I typically stay in an STR when travelling but sometimes go back to hotels when I'm looking for convenience.

    0Reply
  • Chris Schwagerl
    Rental Property Investor · Minneapolis, MN · Member since 2016 · 34 posts · 22 votes
    3y

    I LOVE sharing our STRs with others, and I LOVE staying in STRs.

    The best one was back in 2012 when my bride and I were on our honeymoon.  We rented the top floor of a farmhouse overlooking the lake in Interlachen, Switzerland.  This was back before a lot of the automations that we all use today.  The instructions to get to the house was:

    "Arrive via train and ask a local which one is Lake Brienz.  Take the bus road that runs parallel to the lake until you hear the bells of our cows.  Go to the second floor and make yourself at home."

    That whole week, we were terrified we were in the wrong spot!

    5Reply
  • Afoma Okwudiafor
    Member since 2019 · 25 posts · 12 votes
    3y

    My family members stay in mine when they are in town and I stay at other STRs when I travel with family if I need more than one room.

    0Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    We try and stay in ours once a year with the whole family as that was the original intent of the purchase.

    We do try and stay in STRs when we travel but often times they are more expensive than a hotel so we miss out.

    0Reply
  • Vicky L.
    Investor · Simi Valley, CA · Member since 2019 · 46 posts · 35 votes
    3y

    @Andres Murillo I thought there were tax implications if you stay for more than 14 days in a rental you own, but that's for LTR. Since STR is a business, maybe that's different?

    0Reply
  • Brian Barch
    Member since 2022 · 272 posts · 253 votes
    3y

    We have a goal to stay in ours monthly. It’s a mountain cabin about 2hrs away. So far we have hit that goal

    0Reply
  • Wes M.Pro Member
    Rental Property Investor · Southeastern, NC · Member since 2018 · 163 posts · 146 votes
    3y

    We stay in the off-season, typically several long weekends a year. Ours is in a beach community and we do not visit from June to August.

    0Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    From the IRS website -

    Rental Property / Personal Use

    If you rent a dwelling unit to others that you also use as a residence, limitations may apply to the rental expenses you can deduct. You're considered to use a dwelling unit as a residence if you use it for personal purposes during the tax year for a number of days that’s more than the greater of:

    1. 14 days, or
    2. 10% of the total days you rent it to others at a fair rental price.

    It's possible that you'll use more than one dwelling unit as a residence during the year. For example, if you live in your main home for 11 months, your home is a dwelling unit used as a residence. If you live in your vacation home for the other 30 days of the year, your vacation home is also a dwelling unit used as a residence unless you rent your vacation home to others at a fair rental value for 300 or more days during the year in this example.

    A day of personal use of a dwelling unit is any day that the unit is used by:

    • You or any other person who has an interest in it, unless you rent your interest to another owner as his or her main home and the other owner pays a fair rental price under a shared equity financing agreement
    • A member of your family or of a family of any other person who has an interest in it, unless the family member uses it as his or her main home and pays a fair rental price
    • Anyone under an agreement that lets you use some other dwelling unit
    • Anyone at less than fair rental price
    0Reply
  • Jim Hudelson
    Member since 2020 · 34 posts · 19 votes
    3y

    I find it interesting how many responses indicated that the price to stay in an STR was too much, often because of the cleaning fee. I'm in that boat also. We shop STR's but so often find that the cleaning charge and other additional fees make them too high priced for a 2 or 3 night stay. That's usually what we are looking for. That said, we stay in STR's regularly and prefer them to hotels. I was pricing places in the Cape Canaveral area just yesterday. Found one I liked that had a headline price of $250 per night. For 2 nights the total was $900 and something. I wasn't great at math in school but I can tell you that 900 something is a LOT more than 250 per night.

    0Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    Well @Jim Hudelson, there is the nightly rate which would be $500. Then add cleaning and the platform fees. It could get there.

    0Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    3y

    Speaking of rates/fees, I once almost booked a STR in Parker AZ. The nightly rate was only $75 which was a little low but not too bad for summer. Then the total fee went sky high when I went o book it....the cleaning fee was something like $300...!

    0Reply
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