All Forum Posts by: Ben Hays
Ben Hays has started 1 posts and replied 6 times.
Post: STR Insurance Medical Liability Coverage plus Underwriting request for Gross Income
- Posts 6
- Votes 9
I am aware of a large claim several years ago in Wears Valley where the insurance through VRBO actually paid the claim.
Post: Cleaning Fee for Slow Season and Short Stays
- Posts 6
- Votes 9
I would just ask her if she has any room to reduce her charge, to help keep the place rented. It is probably a slow time for her, too. I'd rather have $150 to have something to do, instead of nothing.
Post: Smokies "hiney showing" thread
- Posts 6
- Votes 9
Quote from @Kyle Wise:
@Collin Hays Million dollar question is, when will we see the bottom?
When your Uber driver tells you that he's selling and never buying a vacation rental again.
Post: Have you done a risk management walk-thru of your Smokies cabin?
- Posts 6
- Votes 9
Quote from @Scott Trench:
You know - we normally don't allow self-promotion, but I think we have to change the rules. This is a wonderful introduction to the community, we need more pros like you, and these tips are a great reminder.
Welcome to BP! Moderators - let's leave this up and think about if this kind of intro is appropriate for new small business owners, one time, as an introduction going forward.
@Ben Hays - thank you for joining the community and for teaching me something today! I hope you meet lots of investors, build real estate wealth yourself, and improve lots of homes!
Thank you! I will be posting repairs and maintenance tips and tricks for homeowners and DIY'ers every few days.
Post: Smokies State of the Union
- Posts 6
- Votes 9
Quote from @Justin Rowe:
Quote from @Collin Hays:
They’ve dropped 10 percent in just the last month.
Hey everyone - been a long term rental investor since 2005 and now looking to diversify in STRs (aiming for the Smokies to start) later this Summer through a 1031 exchange. When looking at some of the properties through our real estate agent the last month, I'm seeing some on the market being offered less than what is was sold for (some purchased mid to late last year which is interesting and now put back on the MLS). I am interested to see how this thread progresses this Spring/Summer based on observed occupancies as well as if home prices stabilize or are reduced further if inventory increases. Separately, I appreciate everyone's input on some of the other Smokies-related threads as it's good to receive other insights along with doing my own due diligence.
following this thread.
Post: Have you done a risk management walk-thru of your Smokies cabin?
- Posts 6
- Votes 9
Hello Smokies investors! I wanted to introduce myself and my company, Handy Central, to everyone. We specialize in "all things repairs and maintenance" for STR investors within a 30-mile radius of Gatlinburg.
When we perform a service call for a repair item, it is often shocking how many risk management items that we note on the way in and out. Guest safety is the most important, yet overlooked, priority for investors. We have been in the Smokies a long time, and many guest accidents, some of them life threatening over the years, could have been avoided with an annual risk management walk-thru:
- Loose or rotting steps
- Nails poking up through deck boards
- Stinging insect hives or infestations
- Ceiling fans that are barely hanging on
- Loose deck, stair, and landing railings
- And oh, about a hundred other things!
This May is slower than typical in the Smokies. Take advantage of it and have your maintenance person or property manager go and check things out at your property. It could prevent a host of problems this summer.