120 AirBnB Listings - Ask Me Anything

Sacramento, California
Short-Term & Vacation Rental Discussions
3yFollow

120 AirBnB Listings - Ask Me Anything

Noah Laker
Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes

Hey BP, with all the buzz about to-AirBnB or not-to-AirBnB, I wanted to throw my hat in the ring and introduce myself.

I am a real estate broker and investor in Northern California. I manage over 100 client properties, almost all of which are furnished STR.

Nothing is off limits. Ask me anything and I will do my best to provide helpful insight. 

8Reply
167 views

Most Popular Reply

Curtis Porter
Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
3y
Quote from @Luka Milicevic:

Why haven't you left California? 

He’s fighting communism from the inside 
4Reply
See this reply in the discussion

46 Replies

Jump to latestLatest
  • Curtis Porter
    Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
    3y

    How did you get started? 

    0Reply
  • John Carbone
    Realtor · Gatlinburg · Member since 2020 · 1k+ posts · 957 votes
    3y

    Jan-June 2023 vs Jan-June 2022 decrease in revenue as a percent 

    1Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    Do you list them on VRBO as well?

    0Reply
  • Account Closed
    Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
    3y
    Quote from @Noah Laker:

    Hey BP, with all the buzz about to-AirBnB or not-to-AirBnB, I wanted to throw my hat in the ring and introduce myself.

    I am a real estate broker and investor in Northern California. I manage over 100 client properties, almost all of which are furnished STR.

    Nothing is off limits. Ask me anything and I will do my best to provide helpful insight. 

    Have you seen any drop in rates or occupancy, or is this guy just click bate?

    Re:venture consulting says

    "The collapse is most notable in the Southwest and Mountain West areas of the country, where Airbnb revenue per listing is down 40-50% YoY. With owners in cities such as Austin, Phoenix, Denver, and San Antonio taking the hardest hit according to data from AllTheRooms."

    0Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    3y

    Are none of these vacation priperin vacation destinations? I only ask because you didn't mention Vrbo.

    My properties are vacation rentals and Vrbo does way way better than Airbnb.

    Do you have employees or do you optimize with software to run by yourself? 

    How often do you visit the properties you manage?

    0Reply
  • Jason Luongo
    Investor · Lake Worth, FL · Member since 2015 · 107 posts · 54 votes
    3y
    Quote from @Account Closed:
    Quote from @Noah Laker:

    Hey BP, with all the buzz about to-AirBnB or not-to-AirBnB, I wanted to throw my hat in the ring and introduce myself.

    I am a real estate broker and investor in Northern California. I manage over 100 client properties, almost all of which are furnished STR.

    Nothing is off limits. Ask me anything and I will do my best to provide helpful insight. 

    Have you seen any drop in rates or occupancy, or is this guy just click bate?

    Re:venture consulting says

    "The collapse is most notable in the Southwest and Mountain West areas of the country, where Airbnb revenue per listing is down 40-50% YoY. With owners in cities such as Austin, Phoenix, Denver, and San Antonio taking the hardest hit according to data from AllTheRooms."


     This is 100% click bait. Airdna, the industry standard in data has already debunked this. https://twitter.com/host_with_...

    2Reply
  • Jason Luongo
    Investor · Lake Worth, FL · Member since 2015 · 107 posts · 54 votes
    3y

    What business model does your management company use for clients? Do you own the listings under one account? Or do the owners have their own accounts and you as co-host?

    Also, what PMS have you found works best at your scale?

    3Reply
  • Alan AsriantsBusiness Member
    Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
    3y

    How steady are the returns? Are you seeing consistent numbers YoY?

    I understand that seasons play a role, but can you expect the same figures next June?

    [email protected]267-767-0111
    Alan Asriants - New Century Real Estate 591 Reviews
    View Page
    0Reply
  • Jon Martin
    Member since 2022 · 1k+ posts · 1k+ votes
    3y

    Which counties do you operate in? Lots of county wide legislation already in California and it seems like there is more to come. 

    0Reply
  • Account Closed
    Rental Property Investor · New Braunfels, TX · Member since 2022 · 409 posts · 408 votes
    3y
    Quote from @Account Closed:


    Re:venture consulting
     

    Total click bait. Doom and gloom sells in uneducated circles I guess🙃
    1Reply
  • KiKi ChaseBusiness Member
    Real Estate Agent · Indianapolis, IN · Member since 2022 · 184 posts · 75 votes
    3y

    Wow @Noah Laker! That's awesome. What systems do you have in place that you feel sets up apart from other managers, and helps you manage all the properties well? 

    Brentwood Collective54 Reviews
    View Page
    0Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Curtis Porter:

    How did you get started? 


     My biz partner Shawn and I started with one condo in Sacramento. Then another... When that went well, we did a bit of arbitrage in Arizona, and then we started "Co-Hosting" (managing for other owners). The rest is history! 

    0Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @John Carbone:

    Jan-June 2023 vs Jan-June 2022 decrease in revenue as a percent 


     ulala. It's highly regional. In Arizona, it's in the vicinity of 25%. Q1 this year was really good because of the Super Bowl and other events, but things dropped hard after April. 

    In NorCal where I'm based, we are less affected. 10-15% drop.

    1Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Michael Baum:

    Do you list them on VRBO as well?


     All of our properties are listing on Airbnb and VRBO, as well as some other direct marketing websites, Craigslist, Facebook Marketplace, JauntDirect, and some FurnishedFinder. 

    1Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Account Closed:
    Quote from @Noah Laker:

    Hey BP, with all the buzz about to-AirBnB or not-to-AirBnB, I wanted to throw my hat in the ring and introduce myself.

    I am a real estate broker and investor in Northern California. I manage over 100 client properties, almost all of which are furnished STR.

    Nothing is off limits. Ask me anything and I will do my best to provide helpful insight. 

    Have you seen any drop in rates or occupancy, or is this guy just click bate?

    Re:venture consulting says

    "The collapse is most notable in the Southwest and Mountain West areas of the country, where Airbnb revenue per listing is down 40-50% YoY. With owners in cities such as Austin, Phoenix, Denver, and San Antonio taking the hardest hit according to data from AllTheRooms."


     Absolutely yes, particularly in Phoenix where I host about 80 listings. Things dropped hard after April. 

    It's gonna be a rough summer but thankfully we are diversified and we have cash reserves. So I'm not that stressed about it. I'm watching the less-prudent investors drop like flies around me...

    2Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @John Underwood:

    Are none of these vacation priperin vacation destinations? I only ask because you didn't mention Vrbo.

    My properties are vacation rentals and Vrbo does way way better than Airbnb.

    Do you have employees or do you optimize with software to run by yourself? 

    How often do you visit the properties you manage?


    We have major portfolios in Sacramento (NOT vacation market, more stable) as well as Phoenix/Scottsdale (vacation market, not stable right now)

    VRBO only accounts for 16.5% of our bookings, but we are listed there. 

    Yes, I have an amazing team of customer service, cleaning, maintenance, and admin employees. 

    Because of the amazing team I referenced, I spend most of my time working remotely and rarely visit our properties personally, even the ones I own. 

    1Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Jason Luongo:

    What business model does your management company use for clients? Do you own the listings under one account? Or do the owners have their own accounts and you as co-host?

    Also, what PMS have you found works best at your scale?


     That is an awesome question. We do a COHOST model through airbnb (owner is ADMIN, I am PRIMARY, and my customer service team is COHOST). For other less sophisticated platforms like VRBO we have to use trust accounting. 

    We've used all the different PMS's and I always end up back with Hospitable - formerly Smartbnb. They are simple, cheap, and accomplish everything we need without the fluff. 

    4Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Alan Asriants:

    How steady are the returns? Are you seeing consistent numbers YoY?

    I understand that seasons play a role, but can you expect the same figures next June?


    Not quite sure how to answer this one. Do you mean how much do WE make or how much to the INVESTORS make? Also, we operate and two very different markets, NorCal and Scottsdale. 

    I cannot predict the future but I suspect that NEXT June will be better than THIS June.

    0Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Jon Martin:

    Which counties do you operate in? Lots of county wide legislation already in California and it seems like there is more to come. 


    We operate in 6 different counties, each of which have their own considerations. If you'd like more information about any particular jurisdiction, feel free to DM me :) we have comprehensive compliance resources that we use for our clients.  

    1Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @KiKi Chase:

    Wow @Noah Laker! That's awesome. What systems do you have in place that you feel sets up apart from other managers, and helps you manage all the properties well? 


     It all starts with a rock solid team. My staff are trained and professional. 

    My business partner has a background in software development and configuration dating back to 1990. Our hardware and software infrastructure is highly sophisticated which allows us to focus our time and energy only on the tough stuff. 

    Also, and I may be biased, but I think my partner and I are cooler and better looking than the closest competition. ;) Sex sells!

    1Reply
  • Jason Luongo
    Investor · Lake Worth, FL · Member since 2015 · 107 posts · 54 votes
    3y
    Quote from @Noah Laker:
    Quote from @Jason Luongo:

    What business model does your management company use for clients? Do you own the listings under one account? Or do the owners have their own accounts and you as co-host?

    Also, what PMS have you found works best at your scale?


     That is an awesome question. We do a COHOST model through airbnb (owner is ADMIN, I am PRIMARY, and my customer service team is COHOST). For other less sophisticated platforms like VRBO we have to use trust accounting. 

    We've used all the different PMS's and I always end up back with Hospitable - formerly Smartbnb. They are simple, cheap, and accomplish everything we need without the fluff. 


     By Primary, do you mean the listings under YOUR Airbnb account and you own the listing? So if they were to switch managers, they would lose that listing and review. Sorry for the confusion. And are you using the new co-host payment feature?

    I manage 11 properties, we help them create their own account during onboarding, and we are set as the co-host within airbnb. VRBO they just have to share login with us, then we connect to hospitable.

    I have gone back and forth whether this is the correct way moving forward as we scale.

    I also use Hospitable and it has just plained work well. I wish it has some type of owner reporting feature instead of just the spreadsheet. Are you manually creating invoices in something like quickbooks as I am doing now?

    We should definitly connect sometime. We're in the same ship.

    0Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Jason Luongo:
    Quote from @Noah Laker:
    Quote from @Jason Luongo:

    What business model does your management company use for clients? Do you own the listings under one account? Or do the owners have their own accounts and you as co-host?

    Also, what PMS have you found works best at your scale?


     That is an awesome question. We do a COHOST model through airbnb (owner is ADMIN, I am PRIMARY, and my customer service team is COHOST). For other less sophisticated platforms like VRBO we have to use trust accounting. 

    We've used all the different PMS's and I always end up back with Hospitable - formerly Smartbnb. They are simple, cheap, and accomplish everything we need without the fluff. 


     By Primary, do you mean the listings under YOUR Airbnb account and you own the listing? So if they were to switch managers, they would lose that listing and review. Sorry for the confusion. And are you using the new co-host payment feature?

    I manage 11 properties, we help them create their own account during onboarding, and we are set as the co-host within airbnb. VRBO they just have to share login with us, then we connect to hospitable.

    I have gone back and forth whether this is the correct way moving forward as we scale.

    I also use Hospitable and it has just plained work well. I wish it has some type of owner reporting feature instead of just the spreadsheet. Are you manually creating invoices in something like quickbooks as I am doing now?

    We should definitly connect sometime. We're in the same ship.


    There are three possible designations on Airbnb: Admin (CREATED THE LISTING), Primary Host (FACE OF THE LISTING), and Cohost (HAS MANAGER ACCESS).

    Feel free to book a consultation at wishstr.setmore.com if you wanna get really in depth about configuration. This stuff is important!

    0Reply
  • Luka Milicevic
    Real Estate Agent · Nashville, TN · Member since 2015 · 2k+ posts · 2k+ votes
    3y

    Why haven't you left California? 

    0Reply
  • Curtis Porter
    Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
    3y
    Quote from @Luka Milicevic:

    Why haven't you left California? 

    He’s fighting communism from the inside 
    4Reply
  • Alan AsriantsBusiness Member
    Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
    3y
    Quote from @Noah Laker:
    Quote from @Alan Asriants:

    How steady are the returns? Are you seeing consistent numbers YoY?

    I understand that seasons play a role, but can you expect the same figures next June?


    Not quite sure how to answer this one. Do you mean how much do WE make or how much to the INVESTORS make? Also, we operate and two very different markets, NorCal and Scottsdale. 

    I cannot predict the future but I suspect that NEXT June will be better than THIS June.


     Pretty straight forward... Are you seeing similar returns YoY or are your numbers very different. What do you base your suspicions on?

    [email protected]267-767-0111
    Alan Asriants - New Century Real Estate 591 Reviews
    View Page
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free