All Forum Posts by: Dave Stokley

When I'm helping clients find places we're typically targeting 15% or more. 25% is exceptional. There's a company called STR Insights that I think is trying to use data to identify markets.

Appraisals will not consider STR income/potential, so from that perspective it does not affect the value of the home.

I honestly don't know what size we use but our cleaning team does have one that is pretty effective on tough smells, especially smokers.

So as STRs evolved people started complaining that they "became too commercialized" but now they're like "be more like big hotels!" LOL.

Here are a few ideas:

1. Booking platforms should have a place in the listing for hosts to list expectations, so that if you're so damn lazy you can't load a dishwasher you can filter for that (or at least know up front).

2. Maybe hosts should offer different cleaning tiers: basic clean is $100 but you're expected to do x, y, and z before you leave, or the comprehensive clean is $200 and you don't have to do anything.

3. Maybe hosts should just take a big cleaning deposit, bill cleaning at an hourly rate, and refund whatever amount doesn't get used. This is probably more admin work than I'd be willing to do though.

“Place used towels on the bathroom floor.

Load the dishwasher and start it.

Move all furniture and items back to original locations.

Set thermostat to 72F.

Lock the door when you leave by hitting lock button.“

Quote from @Christopher Warren:

Quote from @Bruce Woodruff:

Quote from @Dave Stokley:

No idea who's behind it but there's currently a bill in the Ohio House (HB 563) that would prevent local governments from treating STR differently than LTR.

 Arizona has a similar law in place. It allows some regulation but no bans...

Some changes in AZ this year allows for more regulation, including fines, licenses, etc at the local level. 

SB 1168 - https://www.thecentersquare.co...

Nothing wrong with fines, licenses, taxes. That’s just basic oversight and all those things apply to LTRs too. Regulating length of stay is overstep (in my very biased opinion).

The market is way more competitive than it was even a year ago. I was at BPCON last week and literally every person I talked to owned or was trying to buy an STR. Demand is still increasing, but supply has increased even faster, leading to lower YOY occupancy rates in 2022. You can still make good money, but you need to be careful and really understand your market and numbers.

Quote from @Dominic Nastri:

Quote from @John Carbone:

Quote from @Dominic Nastri:

Anyone with Air Bnb arbitrage experience. When starting out did you create an LLC?

If so, I am assuming one LLC is enough to cover as many units that you scale to.

I read an article that said opening up a separate LLC for each unit is necessary to adequately protect you without risking all of your units at once but that seems like a lot.

Lmk

We really need a bot on here to filter for “arbitrage” and auto remove posts. This is getting ridiculous.

Why whats wrong with it? Just trying to learn about different avenues to take. 

There are seemingly multiple posts per day here about STR arbitrage, and the general consensus among community is that it’s not a good business.

You should search the forums for threads on arbitrage and you will find literally hundreds.

The laws are different in every city. It’s a mess. 

Quote from @Valentina Hendrick:

I live in CA so never needed to get an Airbnb here but I was told short term stay is not allowed. Guest stay for a month at least. Anyone knows if this is accurate?

The rules are different in every city.