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All Forum Posts by: Collin Hays

Collin Hays has started 119 posts and replied 2499 times.

Post: Cleaner Making More than Property Manager

Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Property Manager
  • Gatlinburg, TN
  • Posts 2,535
  • Votes 3,532

I own five (5) service franchise locations with 53 employees.  They make more than me!  ;)

Post: Looking for help with Dallas/Fort Worth (DFW) short term rental market

Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Property Manager
  • Gatlinburg, TN
  • Posts 2,535
  • Votes 3,532

DFW is cracking down on STRs.  Make sure you check deed restrictions, code, and rumors of new deed restrictions and code.

Post: STR regulations for a new market

Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Property Manager
  • Gatlinburg, TN
  • Posts 2,535
  • Votes 3,532
Quote from @Reeti Peshawaria:

Hi, 

I'm in the process of learning about short-term rental investments and analyzing potential markets, but I’ve hit a major roadblock: understanding local regulations. It seems like every city, county, and state has its own rules, permits, and tax requirements for short-term rentals, and I’m finding it overwhelming to navigate all the different layers of compliance.

For example, some places require business licenses, transient occupancy tax permits, or even special zoning approvals. Others have caps on how many nights a property can be rented or outright bans on certain types of rentals. It’s a lot to keep track of, especially when researching multiple markets.

Would greatly appreciate any advice/insights from experienced investors who've navigated these challenges :

  • - How do you approach understanding and evaluating short-term rental regulations when considering a new market?
  • - Are there specific tools, resources, or methods you use to simplify the regulation process?
  • - Any tips for staying updated on regulation changes?

Thank you so much 

This is actually pretty easy. Go to the city and county of your prospective STR and ask for the deed restrictions and/or municipal code, for the specific property. Review them carefully. Usually, any semblance of "no" means "no."

Post: BNB Monthly - Experience

Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Property Manager
  • Gatlinburg, TN
  • Posts 2,535
  • Votes 3,532

I am not familiar with them. If you are going to have a company manage your property, I would recommend you find someone that is local.  There simply isn't enough margin in this business to layer on a national company, without charging you an arm and a leg and/or doing a substandard job.

Post: Post cleaning pictures?

Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Property Manager
  • Gatlinburg, TN
  • Posts 2,535
  • Votes 3,532

We do not. I don't think that photos would help us with anything much, other than a 30,000 foot view. 

Post: The Next Deal...

Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Property Manager
  • Gatlinburg, TN
  • Posts 2,535
  • Votes 3,532

If you are borrowing money, you are going to be using equity of some sort. Whether it is the equity of your own home or the home you are financing, it doesn't really matter. I would go with whatever offers the best terms for you. If that is the equity in your own home, do it.

Post: Provide Disney+ to families / guests?

Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Property Manager
  • Gatlinburg, TN
  • Posts 2,535
  • Votes 3,532

We provide basic cable TV or YouTube TV, depending on the location of the property. Each has plenty of channels for the kidlets.  

As a side note:  Are kids even watching TV anymore? I own a group of franchise hair salons. We used to have nice big TV monitors in the lobbies.  After some observation, we decided it was just noise - no one was watching it; they were looking at their phones.  So we tossed all of the TVs and no one said a word.  

Post: If You Are Asking These Questions About Your STR, You Are Already Failing

Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Property Manager
  • Gatlinburg, TN
  • Posts 2,535
  • Votes 3,532

I think you missed on the "year to recover from a 1-star review."  Those reviews are just part of it, no matter how much we try. Furthermore, 1-star reviews serve to demonstrate legitimacy of the ranking system. I would be leery of an product or service being promoted that has zero negative reviews.

Post: How do you handle STR laundry for larger properties?

Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Property Manager
  • Gatlinburg, TN
  • Posts 2,535
  • Votes 3,532

Agree with Jonathan.  Change out the used sheets with fresh ones, then take the used ones off-site. For an extra charge, the cleaners may be willing to do with laundry at their home, although I did this once and had mixed results.

Post: This ONE Change Can Boost Your Airbnb Ranking

Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Property Manager
  • Gatlinburg, TN
  • Posts 2,535
  • Votes 3,532

Very good thread here. Regardless of the particular "wow" shot you choose, professional photography is a must.