All Forum Posts by: Brad Johnson

@Lisa T. Did you ever find a Detroit property manager? We’re looking too!

Just simple buy and hold.

I am looking for recommendations for a lender to finance a small multifamily deal (<$500K, but more than 4 units). Does anyone have any recommendations?

@Caleb Heimsoth

Seems a little unreasonable to me too and we have never charged for stuff like this. This one bothered me a little more because they asked to break the rule, we told them no, and they still did it. We’ll probably let it go, but I just wanted to see what others do about stuff like this.

@Amar Pravin

We have a place on the lake in Alpena, Michigan. It takes a small loss or breaks even in the winter months. We still get visitors for ice fishing, snowmobiling, etc. The summer is when we get the best cash flow (obviously), but winter isn’t vacant by any means. You have to accept a much lower ADR and operating expenses are higher (heat) though. I would definitely model it with seasonality because you will need the reserves for the winter.

@Paul Sandhu

Didn’t mean to come across as complaining, but I guess it does sound that way... It’s really a question on how aggressive you should be with requesting compensation from misbehaving guests.

We recently had a guest ask for late checkout, we told them no because of our cleaner’s schedule, but they still stayed for an extra hour. Unrelated, they also used soap in our hot tub requiring extensive cleaning. I feel we should provide extra compensation to our cleaner (even though she hasn’t requested it) and would like to ask the guest to pay for this. I am tempted to be ruthless and request the late checkout amount in the Airbnb contract (2x the nightly stay), but it admittedly seems a little unreasonable. In the past, we have been very forgiving with damages that people cause.

How do you handle this situation in your properties?

If you frequently request compensation does Airbnb put a black mark on your account (besides a potentially bad review)?

Thanks for your help!

Brad

@Paul Sandhu how would you manage that within the platform? Can you transfer the Airbnb reservations to someone else? Don't want to lose our superhost status because of how someone else manages the experience. (Potential buyer plans on doing STR as well)

What's the best practice when you are planning to sell a STR property? Should you quit taking booking all together? Offer to manage existing bookings for the buyer? Sell the reservations with the property? Something else? We have a property we are considering divesting but it has some bookings all the way into August.