That sick feeling when you&#x27;re just about to begin

Julie McCoy

Real Estate Agent · Sevierville, TN · Member since 2015 · 1k+ posts · 1k+ votes

7y

Congratulations! Don't worry, what you're feeling is normal - I just launched my fourth STR, and I still get that nervous feeling before the first guests! (there's still so much to do at that cabin to make it even better, but like you, I'm too busy to get it all done right now and I've got to get it making money)

My thoughts on what to focus on: launching an AirBNB listing is going to be your simplest way to start, and least expensive. You can expand to the others later, but I find them to be the most intuitive, and they do all your marketing for you. :) (once your listing is live, make sure you go back and add the cleaning fee and poke around at the different settings! For some reason the setup process doesn't walk you through establishing a cleaning fee and a couple of other things I find important)

KEYLESS LOCKS over fancy sheets. Seriously. They will make your life SO MUCH EASIER and sheets get ruined quickly whether they're fancy or cheap. Pick up decent sheets (three sets!) that feel good at your local discount store and be done with it.

Couch vs. mattress is a tougher call because having comfortable spaces is very important - but I gotta go with mattress. A guest will be more upset about not having a good night's sleep than not having a plush couch for the few waking hours they're there, IMO. Also, a comfy mattress does not have to be expensive! I have the Zinia Green Tea mattress from Amazon in most of my rentals, and it's a hit - it's my personal favorite, too, and I have Leesa and Casper mattresses elsewhere.

I think it's a good plan to market the cabin as having a discounted rate due to the dated interior - guests will know what to expect and it gives you room to grow. They'll likely give you a good bit of grace knowing you plan to make improvements. (and feel free to ask them! "I'm going to be updating the cabin soon - what are the (one or two) things I should focus on, in your opinion?")

Good luck and don't forget to plan your rehab during the low season, and block off dates so you'll have uninterrupted time to do them!

Julie McCoy

Real Estate Agent · Sevierville, TN · Member since 2015 · 1k+ posts · 1k+ votes

7y

Also take @Luke Carl up on his offer - I did when he offered it to me, and I learned a ton!

3 Reply

John UnderwoodPro Member

Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes

7y

@Ashley Wolfe

I assume you already have a quote and know what you are getting into with the foundation repair?

Also be careful about renting below market rates with an As-Is condition. Bad reviews will kill you going forward. Just consider this.

Also you can get started with a lockbox. I still use one. The batteries won't die in it and it is virtually indestructible.

Ever Hear the acronym KISS (Keep it Simple Stupid) You can upgrade to automated locks later. But if you have crappy sheets people will not be happy and may leave you a bad review. I get all 5 Star reviews with a lockbox and have never had a problem with it.

I would do VRBO, Craigslist and Facebook marketplace. VRBO makes the money for me and keeps my calendar full at top prices.

You can get nice used furniture on Craigslist to start or get zero percent financing at Havertys or Rooms to go.

OP

Realtor · Bedford, TX · Member since 2015 · 172 posts · 55 votes

7y

Thank you @John Underwood for the recommendations for what to use. I was looking at lock boxes last night. And I need to be reminded almost daily to KISS!

For the discounted rates, I'm booking those off of the big websites. As much as I want reviews to start to accumulate, I know that I won't need them with the furniture being out of date.

OP

Realtor · Bedford, TX · Member since 2015 · 172 posts · 55 votes

7y

@Julie McCoy Thank you so much for weighing in on those options! It helps to know that experienced hosts go through the same feelings!

I'm going for some 400 thread count, middle-of-the-road sheets in stark white so they can be bleached. Same with towels.

What is the low season for you? Since we're just starting, I'm not sure what our high season is yet.

Mike V.

Rental Property Investor · Campbell, CA · Member since 2017 · 419 posts · 499 votes

7y

@Ashley Wolfe Hotel Collection sheets on amazon are very nice. 1800 thread count and anti wrinkle. Less than $30 a set delivered. I personally wouldn't go cheap with the sheets, as every single guest you host will be using them and they'll all notice. Same with pillows, silverware etc.

Guest are weird but they notice that stuff. I have a 5* review and all the guy said was how much he loved my steak knife set and he was amazed that a rental had knives that actually cut well. They were like $20 from Costco but it's the small things people notice.

Also, costco mattresses that come in a box... they're inexpensive and VERY comfy, and they're memory foam which you can advertise in the listing. As an added bonus, the kid in me loves opening the packaging and being mesmerized watching them expand lol

As for the couch, only get a pull out queen size sleeper sofa. If it doesn't convert into a bed you're losing revenue. You just allowed yourself to advertise sleeping 2 more people. If you want, you can set it up to charge more per guest after a set amount so every time they use it you get paid.

Set up AirBnB and VRBO. Don't need a website yet.

Forget the key less entry. I just got around to that with mine and it was fine for years. I just got sick of dealing with key inventory but it's not at all necessary. Just make sure to get TWO lock boxes. One for the front door and one hidden somewhere for when they lock themselves out. Although to be fair, you can get a Schlage keyless lock for under $100 on amazon if you go with a basic one and they work great. Might be worth the extra $50 since each decent lockbox will run you $25.

OP

Realtor · Bedford, TX · Member since 2015 · 172 posts · 55 votes

7y

Thank you @Mike V.! All good things to consider. I know I’m one of those guests who notices the little things, or when the little things are missing!

So I’m trying to think of all those things.

Eric A.

Rental Property Investor · St. Augustine, FL · Member since 2017 · 189 posts · 127 votes

7y

@Ashley Wolfe feeling nervous is great because you care and your guests will only get the best because of that. Send me a PM and I will send you my ebook. It will help tremendously and I can help you get up and running. Take care!

Shawn Ward

Real Estate Investor & Consultant · Los Angeles, CA · Member since 2016 · 620 posts · 386 votes

7y

@Ashley Wolfe these nerves are normal and you should embrace it! Its a good thing. Means that you are really getting into something that you are striving for.

Also, the next time you go out, offer an experienced investor who's done this type of deal to go out with you , and their expertise will ease your tensions. Offer to pay their gas and buy lunch, whatever gets them out.

All the best!

sjw

George Pauley

Chandler, AZ · Member since 2017 · 174 posts · 269 votes

7y

My wife and I joke that we learn a new $lesson$ with each deal we do. You're going to make mistakes, and you will, hopefully, learn lessons from those mistakes that will cause you to make a better deal next time. Don't beat yourself up too much about it. Just pull the trigger, learn the next lesson, rinse and repeat. :)

Chai Xiong

Investor · Orlando, FL · Member since 2012 · 312 posts · 165 votes

7y

4 hours is quite tough, make sure u have a good mgmt company who's got the staff and the budget support you, the walk through when guest leaves is important to determine damages, i use to rely on the cleaners to tell me but its not good enough. For me I found that you need a good washer and dryer because those sheets definitely needs to be spotless. So yes sheets before keyless. Mattress is more important than couches. Hope this helps

Travis Hewlett

Rental Property Investor · Calgary, Alberta · Member since 2016 · 71 posts · 50 votes

7y

I agree with @Chai Xiong, four hours is enough to cause burnout and potentially spoil your appetite for future investing, if you're handling all the turnovers yourself. Spend the time early to build systems, checklists, and the right connections to make turnovers seamless and least time intensive as possible.

Podcast Guest on Show From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills

Luke CarlPro Member

Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes

7y

@Travis Hewlett Eh. 4 hours or 14 hours. Doesn’t matter if you have systems in place. When it comes to VRs the vast majority of your system is a cleaning person. You have to remember no one is staying longer than a week before someone that works for you is putting eyes on the property. It’s not a LTR

Mike Shemp

Rental Property Investor · Stewartsville, NJ · Member since 2016 · 418 posts · 280 votes

7y

Hi Ashely,

We manage our rental that is 7 hours away, and I remember the same feeling that you mentioned. Here are some things to think about and consider:

We only do AirBnB, and use Instagram and Facebook to help market it. We didn't want the added stress of managing and syncing calendar entries across different platforms.
I created AirBnB message templates for every scenario I could think of. This way when the question comes in, I just pull up my template, change the name, and hit send. Every time I get a new question I haven't seen before, I create a new template.
For the sheets, I would not buy expensive. I would by nice, but not too expensive and have a few sets on standby. This way if your cleaner contacts you and says that a set of sheets is ruined for whatever reason, you have some at the ready in the owners closet, etc. that can be used.
We have the "security deposit" feature enabled for our listing on AirBnB to help filter out anyone considering a big party or damaging the property.
Make sure you always communicate through AirBnB messenger so all conversations are available for review by AirBnB customer service if needed.

Hope this little list of helps!
Mike

OP

Realtor · Bedford, TX · Member since 2015 · 172 posts · 55 votes

7y

@Luke Carl and @Julie McCoy (and anyone else who knows about this stuff)

Let's play the What If game.

What if a short term guest decides to jump in the lake from our property and gets hurt? The lake where our cabin sits is not fenced in. Are we liable for their mistake? Should we put a clause in our rental agreement that they understand they are not to swim in the lake and doing so is a complete breach of agreement and we aren't liable?

Speaking of rental agreements, where on these websites that I list the cabin is the space for rental agreements to be signed by our guests? Does that even exist? I know the big companies protect themselves and I want to protect my family too. Especially if some idiot goes jumping off into the lake.

Podcast Guest on Show From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills

Luke CarlPro Member

Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes

7y

I would let them use the lake isn’t that why they’re coming? But yes.... you answered your own question. Put in your rental agreement that if they drown ifs not your problem and life vests are required and all that good stuff. You can google “VRBO rental agreement” and steal one off the internet but it sounds like you’re a bit more worried than I am so you better have your lawyer draw one up.

I’m taking this to mean you HAVEN’T GONE LIVE YET!!!!! Stop worrying and list that thing

What if I get hit by a car today I guess I better stay in bed and not go for my run. This thought does not go through my head. I run every day.

Julie McCoy

Real Estate Agent · Sevierville, TN · Member since 2015 · 1k+ posts · 1k+ votes

7y

Originally posted by @Ashley Wolfe:

@Luke Carl and @Julie McCoy (and anyone else who knows about this stuff)

Let's play the What If game.

What if a short term guest decides to jump in the lake from our property and gets hurt? The lake where our cabin sits is not fenced in. Are we liable for their mistake? Should we put a clause in our rental agreement that they understand they are not to swim in the lake and doing so is a complete breach of agreement and we aren't liable?

Speaking of rental agreements, where on these websites that I list the cabin is the space for rental agreements to be signed by our guests? Does that even exist? I know the big companies protect themselves and I want to protect my family too. Especially if some idiot goes jumping off into the lake.

Important: HAVE INSURANCE THAT COVERS COMMERCIAL ACTIVITY. Your regular homeowner's policy won't cut it. Talk to your insurance company and tell them you're interested in doing short term rentals at this cabin - do they offer a product that covers that sort of activity? Most will not. There are a couple of companies that specialize in this type of insurance - Proper and CBIZ (I use Proper at all of mine). They offer commercial policies that cover all the things your homeowner's insurance does, AS WELL AS guest activity/liability.

That's how you're covered if a guest jumps in your lake and drowns.

(they'll ask you to post a No Lifeguard on Duty/Swim at your Own Risk sign at the waterfront, and a life buoy, which is what they had me do at my riverfront house, and include some language in your house rules to disclaim liability)

This insurance is a bit more expensive than homeowner's, but absolutely essential IMO. Short-term renting is considered commercial activity and thus your standard homeowner's policy will typically not cover guest liability claims (or things like if a guest burns your house down).

Brian Ellis

Rental Property Investor · South shore, MA · Member since 2017 · 1k+ posts · 1k+ votes

7y

Try not to overthink too much. I have a tendency to do the same thing. It works against me, and has caused many wasted hours. It seems like your mind is going a mile a minute, don't create false realities, or "what ifs". Try and focus on the task at hand, you'll be ok.

@Luke Carl https://www.airbnb.com/rooms/28652953?s=51

OP

Realtor · Bedford, TX · Member since 2015 · 172 posts · 55 votes

7y

BOOM! Against my better judgement, its live. ;)

Mike V.

Rental Property Investor · Campbell, CA · Member since 2017 · 419 posts · 499 votes

7y

@Ashley Wolfe, a few constructive criticisms.

- Fix your main picture. When I look at the listing all I see if the roof. No bueno

- I see 2 bedrooms, 5 beds, but max occupancy of 4? More guests = more reservations. You can always charge more per guest above 4. ($10 more per person per day, as an example)

-DISconnecting?

- You need a LOT more pics. You should have a minimum of like 25. Show EVERYTHING, even the lake! Consider a drone for the aerials. Pics are your top priority.

- I cant book past April. Any particular reason why?

- Looks like you've already gotten a few bookings? If so congrats!

You have a beautiful cabin. I'd stay there if I could see the interior.

Podcast Guest on Show From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills

Luke CarlPro Member

Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes

7y

@Mike V. <--- What he said.

OP

Realtor · Bedford, TX · Member since 2015 · 172 posts · 55 votes

7y

@Mike V. @Luke Carl

Yes, agree to all. I'm updating the occupancy and descriptions. I've got a photographer taking pictures on Oct 28th for the current state of the interior and I'll have those pictures up by mid-Nov at the latest. Then, in January when more interior updating is complete, I'm having a second photo shoot. These pictures are not ideal and I know that, but I had to use something.

I chose the 6 month option for how far someone can book into the future. Mainly because of the updates we're doing to it. In 6 months, its going to be a completely different cabin on the inside.

Question: is there a setting where the price increases based on the number of guests?

Podcast Guest on Show From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills

Luke CarlPro Member

Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes

7y

855-4-AirBnB is your friend :)

OP

Realtor · Bedford, TX · Member since 2015 · 172 posts · 55 votes

7y

@Mike V.

Those "bookings" are me blocking it off for my knitting retreat (which I'm charging people for) and my Girls' Spa Weekend (which I'm charging people for). I'm ready to enjoy it too! :)