Real Estate Investor · New York City, NY · Member since 2017 · 25 posts · 5 votes
Hi,
We're purchasing our first property to turn into an AirBNB and were wondering if anyone new of a good resource / checklist of all the things we'll need to buy for it, from setting up WIFI to can-openers. Any good resources out there?
@Michael Frankel I have a wish list on amazon that has almost everything you would need. I also recommend staying in your rental for 2 nights and have friends over. That way you can see if you are missing something "obvious"
IKEA is great! I would get all sets of sheets the same. I like their best quality like the hotel collection and also get your towels the same color too along with dish towels. I love gray. This way everything could be done in one load for the washer. IKEA also have the best prices for dishes and glasses too. Nothing looks better than all dishes and glasses looking all the same. Good luck and have fun! Keep all your receipts for your accountant. Also make a list on your Amazon cart to have the TP, soaps, coffee, cream, and sugar packets etc. to come on regular bases.
@Angela Yan, thanks so much! Do you have any tips on how to prevent renters and cleaners from taking all your extra supplies (like how people take shampoos at a hotel)?
Michael Frankel i think over time you will find your supplies evaporate a bit so I wouldn’t leave your aunt’s prized China. Stores like HomeGoods or Ross sell miscellaneous items at decent prices but I never had too much problem with missing items.
I do recommend getting high quality tenants by charging more for your place. In the beginning you want to build your ratings so you want to charge market but eventually you want to be at the price point in which the business professional price points.
My place is in downtown SF, when I charged lower, I got party kids finding beer bottles in trash along with condom wrappers but once I raised the price along with great ratings, I got working professionals and conventioneers which are never home because they were here to work.
Hope this help. 😀
@Michael Frankel two great and comprehensive resources I use are learnairbnb.com and getpaidforyourpad.com. Check them out you'll get lots of information. Good luck!
Michael Frankel I buy $1 bottles of shampoo, conditioner and body wash at Maxway (or similar), and offer those. You can buy bulk hotel-sized bottles for cheaply also at distinguishedguest.com or Costco. Or install pump units in the shower and fill them up.
I use all white sheets and duvets with white covers. Easy to bleach and wash. A colored throw and a couple of accent pillows make it look better.
I almost bought a short term rental but I decided to back out of the contract. Anyway, I was going to work with a property manager who specialized in vacation rentals so I have a supplies list (it's more than I thought I needed to get). If you think that would be useful, connect with me and I'll email you the list. In regards to keeping extra supplies. one of the things she requested was a locked closet with extra supplies (clean linens, towels, etc) with a key for the maid so the tenants won't be able to access..she said this is important when you have quick turnovers and there's not always time to do laundry. She also stressed the importance of getting a sofa bed to increase the number of occupants so you can charge more.
As for furniture, I would also recommend looking on Craigslist and garage sales for more unique and higher quality furniture than what you would get at IKEA...Good luck!
If you put craigslist furniture in you’re VR you’re going to get crappy guests. Buy nice furniture. People that stay at a Hilton are too busy to steel. Or even sit on your couch. So buy a nice couch. Or have lazy people sit on it watching tv and complaining all day.
I would not get used furniture these days. Bed bugs are becoming a lot more common. Buy new, then you don't have to worry or go over the furniture with a magnifying glass.
I did not back out of the deal because I wasn't committed to it, the numbers just didn't work out for me.
Anyway, I'm giving you advice not from my personal experience but from others who have done short term rentals that I think make sense and it's what I would do if I find a vacation property myself. Please do not rule out used furniture just because a couple of people here recommend against it. You can find a lot of nice sold wood furniture on craigslist, garage sales, estate sales, etc. if you know what you're looking for. I'm not saying IKEA is necessarily bad but it doesn't have the charm of what you might find used especially if you want your place to stand out. If you buy all brand new nice furniture, you are going to spend a fortune and I don't think it's worth it on a rental property.
Podcast 229: Early Retirement Through Short-Term Rental Properties with Zeona McIntyre. She loves going to garage sales to pick up good quality furniture. I believe she said she's never bought a brand new mattress, but don't take my word for it, listen to the podcast :)
Never bought a new mattress?? GROSS. I wouldn't dream of keeping an existing mattress, or getting a used one (I believe it is illegal to sell used mattresses - Goodwill, etc. will not accept donations of used mattresses for sanitary reasons, and if Goodwill isn't going to take it, I definitely am not. When I get rid of one that still has life in it, I give it away on Craigslist).
There are plenty of inexpensive, very well-reviewed mattresses that are available - just do a little searching, you'll find them for ~$300-400. And all my mattresses get protective covers put on them, as well.
Re: furniture, I've gotten some great dressers, coffee tables, etc. at consignment and antique stores, but anything involving fabric/upholstery I'm buying new. I'm not risking bringing someone else's parasites, pet dander (or worse), odors, or bodily fluids into my nice vacation rental.
I think it depends on your situation. If you can't afford brand new furniture, but can get by with your mom's old couch or something off FB Marketplace, then go for that. But it better be the nicest, most comfortable 2nd-hand item ever. If you can afford IKEA or Amazon mattresses, get those.
The main thing to keep in mind is your reputation is made with your first few bookings. If your guests leave reviews that the bed is uncomfortable or the couch smells or it doesn't look "homey," then you'll have a harder time drawing in future guests.
I find it interesting how people are grossed out by a used mattress but then there are plenty of those who buy used clothes and shoes at consignment stores (for me, I think uses clothes are a lot worse). Anyway, just keep in mind that the mattress or any other new furniture you buy will be considered "used" after the first tenant leaves.
Do motels replace their mattress every time a guest checks out? I don't thinks so. I have 82 beds in my STRs. 1 was bought new because I was in a rush. The other 81 came from estate auctions, not garage sales or craigslist. My logic is that if it was good enough to be in someone’s primary residence until they can't reside there any more, it's good enough for a refinery contractor to sleep on. If it came from a garage sale or craiglist, someone is just trying to make a few bucks off of something that would be disposed of because it is probably no longer fit for use.
Okay I think we've had enough discussion about used mattresses. I have one more piece of advice to share:
Michael, before you start buying everything to furnish your rental, I think it's very important to understand who your target market is and figure out what would appeal to them.
To give you an example, I was looking at short term rentals in the heart of Santa Fe, NM. Most of the tourists there come from Texas and California. They are usually older (in their 50s and 60s) who enjoy the opera, museums, art galleries, festivals etc. and many of them bring pets with them. Many of them are also repeat customers who come to Santa Fe every year. It's not much of a tourist attraction for young families and kids so I wouldn't have to cater to that demographics. Now, "Charm" is a HUGE thing in Santa Fe, a rental with southwest charm would stand out much more than a rental without any charm. These are tourists who appreciate nicer things like bedsheets with high thread counts and handcrafted solid wood furniture. These are people who are probably used to staying at 4 or 5 star luxury hotels and would not want $1 shampoos. Also, furnishing a traditional adobe style house with modern looking IKEA furniture would probably feel odd and would take all the charm out of the house. The property manager I was working with at the time also provided a bottle of wine for all the guests at the beginning of their stay, which worked well.
Since you live in NY, your target renters are probably a lot different but I think it's still important to consider what type of place you have, in what neighborhood and what kind of tourists you are hoping to attract.
@Michael Frankel I have a wish list on amazon that has almost everything you would need. I also recommend staying in your rental for 2 nights and have friends over. That way you can see if you are missing something "obvious"
Wow, you're all amazing! Thank you all so much for responding and sharing your thoughts! I appreciate all of the help and insight.
@Liwen Gu, definitely listened to that podcast. I see the value in picking some things up at garage sales. The challenge on that is time and accruing the things quickly enough to furnish one (as opposed to picking up pieces and storing them until I pick up the unit).
@Julie McCoy, I like your idea of some nicer things from consignment stores, provided they don't have fabric/upholstery.
@Richard White, strong point on making sure the first few bookings going well. Any tips on things beyond furniture to maximize the likelihood of good ratings?
Anybody have any thoughts on paying for cable vs. netflix (or other streaming service) in an Airbnb?
Why don't you call Comcast (or your local internet/cable provider) and see what kind of bundle package you can get? I think you'll want more than just the basic cable channels...Comcast usually includes HBO in many of their promotion bundles for the first 12 months and you. I think if you get a good bundle deal with lots of premium channels then you don't need Netflix. However, if basic cable channels + Netflix is more affordable, then that's probably all right too. Don't skimp out on the wifi, there's nothing more annoying than a weak internet connection when you're on vacation haha. It might be worthwhile looking into getting a home phone too if it doesn't cost much more or if it's included in the bundle especially if you think you will have a lot of international tourists (even from Canada). Free local calling may be attractive, just make sure they don't make international calls.
Michael Frankel I'm locked in to DIRECTV because of my contract with AT&T for another year, but I'm about to purchase two more properties, and I will only have high speed WiFi and Rokus in those units. Most people want Netflix and a few movie channels. If you have cable at your own home with Spectrum, Time Warner, etc., you can even download a Roku channel for those services. Don't waste money on cable or phone.
Cleanliness is key. If you're place is clean, you provide all the little things - toiletries, nice linens, towels, etc., you should do fine for reviews. Make sure everything is working properly, have a little coffee maker and leave some water, champagne (2 night or longer stays), breakfast pastries, or something similar for your neighborhood. As long as it isn't dirty, uncomfortable, or too bare-bones, you shouldn't have any problem with reviews.
Check in with the renters the day after they check in. Keep up the communication and make them aware that you care about their trip. They just want to feel welcomed.
For TV go with internet TV. Apple TV, Roku, Sling. SO much cheaper and you get pretty much the same content!
In my STR all I have is Netflix and an antenna for local channels. If someone is visiting the city as a tourist they are not going to be sitting around watching TV.
Good wifi is an absolute must. Especially if you cater towards business folks.
I️ have smart TVs with Roku interfaces that look great and are easy to operate - and they’re inexpensive! (Fewer devices = less confusing = better) If you’ve got good internet all you need is that and a Netflix subscription (I️ also include Amazon Prime and HBO Now because I️ have those services anyway for personal use). I️ don’t think there’s any need for cable in general.
That said, internet is NOT very good at my rural rental and doesn’t support streaming very well, so I️ found a good cable bundle that’s getting installed soon, and I’m building a DVD collection.