All Forum Posts by: Ian Tyndall

Thanks. I was just adding this to my mental backlog of things to do before March 15!

This seemed like an unnecessary administrative complexity from the beginning. I get the original intent but it had the trappings of becoming a cottage industry like tax preparation. 

Hello! I have been studying it. There is a place near me that only does direct booking business and has amazing amenities: https://www.sandyriveroutdooradventures.com/luxury-tipis?srs...

I would probably go with something similar to host a luxury glamping experience with electric and running water/septic to encourage longer stays. Not sure if that would work, but I am actively looking at options. 

 Hello! AirDNA is great for gauging market demand. Avery’s method is great for competitive analysis. Both methods should be used together. AirDNA and PriceLabs both provide excellent data. If you configure your searches on AirDNA properly it can be extremely useful - remove listings below 4.7 stars, available > 220 days, etc. 

I have a place in Rockbridge Baths. I would be happy to take a look at what you are putting together and offer my opinion. Message me with your address and what customer segment / market you are going after and I will offer up my thoughts. Best of luck!

Throw pillows…

Fake plants…

These are needed to spruce up bedrooms, bathrooms and outdoor spaces. How to match them and where to get them?

Kenzer, 

To your first question about liability, yes a LLC can help protect your assets from taken, but you have to manage it correctly. I recommend that you contact a lawyer to setup this process for you. You will want to transfer the deed for the home to the LLC. You might even want to setup a C-Corp (for tax and liability reasons as well) to manage the business with the guests and pay rent to your LLC. This is a bit more involved, but as you scale, it is something you should consider.

In response to your second question, I would say "yes" to allowing pets. They are coming to your property if you allow them or not (you cannot forbid service animals) 
Consider the facts: https://www.dogster.com/statistics/pet-travel-statistics-tre....

Top 12 Pet Travel Statistics
78% of American pet owners travel with their pets each year.
54% of cat and dog owners plan to travel with their pet.
58% of people would prefer to travel with their pet over a friend or family member.
52% of travelers base their travel plans on accommodating pets.
About 75% of luxury, mid-scale, and economy hotels allow pets.
In 2019, a total of 404,556 animals were transported by airline.
Nearly 64% of travelers prefer to travel with pets by car.
42.9% of people look for a destination with hiking and fresh air for pet travel.
Dogs make up 58% of the pets traveling around the world.
37% of owners take shorter vacations because of their pets.
10% of travelers have hidden their dogs to travel.
27% of dog owners go the extra mile for their pets.

Alec,
The free services go a long way to giving you a pretty good idea for what a property’s demand will be. I personally use Bnbcalc: 
https://bnbcalc.com/?fpr=1k54q

If you want to DM your address I can provide you with a free report from my tools (bnbcalc and AirDNA pro)

Hello!

Here is my link https://pricelabs.co/users/sign_up?referral=UZXgWm

Happy to help review settings or share unused property assessment credits if needed!

It could, but you could screen this location with PriceLabs.co as they use both airbnb and hotel rates to create revenue forecasts. I would imagine that the hotel marks up their rates to use airbnb a little to offset their service fees, so the net is pretty close to what you would expect. Airdna will give you a good estimate of the demand for the area. The precise property forecast can vary depending on a lot of factors but the general demand is really what you should use the tool for to make your plans.