30-Day Min Strategies on AirBnb/VRBO?

Question

Bought a second home/primary residence in Tierra Verde, FL about 3 months ago and was planning to do STR May-Oct (6 Months) and live in it myself Nov-April.  HOA had no restrictions when I bought, which is one reason why I bought on Tierra Verde, but HOA is now in process of passing 30-day minimum for the community (it has passed vote, will be enacted in April).  My goal with this property has always been #1 primary residence and #2 offset expenses with STR, it was not purchased as a straight investment.  My question:  should I even bother to list this at 30-days on VRBO or AirBnb?  Or just look at the traveling nurses sector or maybe furnished corporate?  Or simply attempt a 6-month furnished lease with 1 tenant?  The house is a 4/2 with a pool/spa, great area, very close to beaches, great restaurants, a state park, and more.

Alanna Schroeder · Answer

I say YES! I had a client that recently had the same issue and she went the 30-day route and it has worked out VERY well for her. She has hosted some great clients. I think it is an untapped opportunity that is definitely worth looking into.

If you do go the 30-day route make sure that you require weekly cleaning so that you can be sure that the condo is being cared for.

Alanna Schroeder · Answer

Suggest to the community that they require Noiseaware for all units operating as a STR.  It is a really simple solution.

Paul Sandhu · Answer

There is a lot of money to be made renting to travelling workers.  You just have to be in the right market.  There is a refinery in my town.  Refinery contractors are 99% of the people I rent to.  Pipefitters, welders, boilermakers and such.  Scary looking guys with neck tats.

John Lewis · Answer

@Bob Mueller Jr. I'm in the same boat as Paul. I rent to blue collar traveling workers getting per diem. My area is refineries but any construction project will require the contractors to be in town for greater than 30 days.

Julie McCoy · Answer

Ahh, I was wondering how Tierra Verde allowed it to begin with - I remember boating past those massive houses when I was a kid growing up in Tampa, gorgeous area.

I definitely say give the 30 day minimum a shot - in a market like that you may very well have some success.

Bob Mueller Jr. · Answer

@Michael Greenberg It’s frustrating, to say the least. Tierra Verde was one of the last “legal” spots to STR in St. Petersburg because it’s unincorporated St. Pete. There was quite a few STRs operating here, but the extremely vocal Neighbor’s finally got the HOA to cave in.  I actually do respect both sides of the argument, and it will be interesting to see what happens to established STR properties here once this law hits.

Account Closed · Answer

@Bob Mueller Jr. is this your real name!?  Couldn’t help but notice as the report is leaving America on edge..  Any relation?  That’s almost like Donald Trump Jr.  Ok, it seems to be a great model and requires much less maintenance and business.  Probably increasing your criteria for vetting the tenants would be important and coming up with a good system that connects you with the best clientele.

Sid Payne · Answer

I just use the same agreement as for my shorter term guests.

Because these are snowbirds, I usually don't do any deposit.

Ethan Cooke · Answer

@Bob Mueller Jr. - For 30-90 day AirBnB rentals, I usually don't set up a lease. The guests agree to all House Rules before booking (e.g. No Smoking, no parties, Quiet Hours 10pm-7am, etc.), and both AirBnB and HomeAway/VRBO have a $1M insurance policy. For 30+ day bookings off AirBnB/HomeAway, I set up rent through cozy.co, collect a $500 security deposit and I often set up a lease also.

Bob Mueller Jr. · Answer

@Ethan Cooke @Sid Payne When booking for 30/60/90 days furnished, via AirBnb or VRBO, etc, do you guys do lease agreements? Or only bring a written lease in play for 6 months? What about getting a security deposit from a 30-90 day renter?

30-Day Min Strategies on AirBnb/VRBO?

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