All Forum Posts by: Jim Hudelson

We use the Schlage Encode.  As Lauren stated it's paramount that the deadbolt turns freely into the receiver.  Being that the deadbolt is engaged and dis-engaged by the batteries it does go through batteries.  They are easy to replace.  We replace ours about 3 times a year on a moderate use rental (200 nights a year).  The app shows battery strength level so it's easy to monitor.

This is a wi-fi device that you connect to your homes wireless network.  If power goes out (or the router fails) the locks continues to work but you would no longer have access to it via the App.  Entry codes that are already stored continue to work.  So, the lock is basically a stand alone device that you connect to via an app and program codes into.  The app also makes it real easy (almost scary easy) to open the lock from your phone with the app.

I like this lock.  It's dependable.  It's easy to program codes into (and they can have start/stop dates and times), and it records all activity that you can access via the app.  I have found that the times that it records are not always accurate, but good enough.  Guests have not had problems operating these locks.  We send them pretty explicit instructions prior to check in  but it's actually very easy and intuitive from the guest perspective.

One more thing to be aware of is that, like most apps, after some set amount of time (to which you are not privy to) it decides to make you re-enter your login credentials.  This can be maddening.  Like, you just started your European vacation and you forgot to bring your lists of passwords with you and a guest is standing at the door and can't figure out how to get in.  So ... keep your password handy.

I'll go against the grain a bit on this topic.  Self managing is the way to go - if you know what you are doing.  If you are new to short term rentals I think that getting a management company is smart.  You won't make as much money but you will learn how the business works and you'll learn quite a lot about your local market.  My advice if you want to go this route is to choose a company that has been in business a minimum of three years, five is better.  Get a copy of the management contracts from three companies that you are interested in.  You can learn quite a lot just by reading their contracts.  Then, go into each companies web sites and simulate a booking.  Pay particular attention to what fees are added on, then ask the question "who gets the revenue from these fees"?

This isn't a difficult business to be in but there is quite a lot to it and the learning curve can be stiff.  If you work with a management company and ask a lot of questions as you go, in a year you will be much better prepared to handle it on your own.

Marina, I have used   kitchendoorsonline.net  a few times.  I've been real happy with their product and the pricing.

I find it interesting how many responses indicated that the price to stay in an STR was too much, often because of the cleaning fee. I'm in that boat also. We shop STR's but so often find that the cleaning charge and other additional fees make them too high priced for a 2 or 3 night stay. That's usually what we are looking for. That said, we stay in STR's regularly and prefer them to hotels. I was pricing places in the Cape Canaveral area just yesterday. Found one I liked that had a headline price of $250 per night. For 2 nights the total was $900 and something. I wasn't great at math in school but I can tell you that 900 something is a LOT more than 250 per night.

Vacasa is not going to survive is my current read on the situation. They established predatory pricing practices so that they could make money at the homeowners expense. Their version of 'boots on the ground' is not what most of us would view as adequate. This won't fly in today's world. They have thousands of STR's under contract. This seems like an opportunity for somebody(s) to fill the void that is about to be left behind.

We have a rental that we offer as short term on VRBO.  It's in a college town/small city.  We offer roughly a 40% discount of our nightly rate for 1 month (plus).  We prefer one month (+) stays for multiple reasons and push this in our property write up on VRBO.  We get a lot of stays that match what we are looking  for and it works out great for us.

So, talking numbers, we average about 3,000 per month.  It goes up in the summer and (way) down in the winter.  We could probably pull 1800-2000 with it as a long term.  With the lag time between stays we pull in 25k-30k annually.  This is fine for us because we also use the house and REALLy enjoy being there.  I think that if we didn't use the house ourselves it would be a lot easier to rent it Long term.  That said, we enjoy 'the game'.  Hospitality is a blast when it goes right!

If they don't say something nice about your property when they inquire they probably won't be a good guest.  This sounded a bit hoaky when I heard it but it has proven to be true.

This is a good synopsis Leo. What seems to have happened is that a lot of people have jumped into the STR business without a background in hospitality. There is a lot more to this business than providing a place to stay. It requires both knowledge and effort.

 Well, hell, life is a crap shoot isn't it?  One thing to be aware of is that there are companies out there that scour the short term listings on rental sites and report to the cities on who is and isn't in compliance.  Cities just pay a relatively small amount to get a list of offenders.  Your 'friend' might get caught....he might not.  If he's the kind of guy that gives himself 10 extra minutes from home-to-gate to catch a flight - then he shouldn't worry about it.

Your strategy is sound enough.  Do it and see how it works for you.  We are in a similar situation with a house in Fort Collins, CO.  The house is about 5 or 6 blocks away from campus in a sweet residential area.  1000 sq feet, 2 bedrooms, 1 bath.  We initially rented it as an unfurnished long term primarily to students.  About 8 years ago we furnished the house and started renting short term.

Our house has a fenced back yard and we allow guests to bring their dogs.  This has been a huge driver for us.  We encourage stays of one month or more with favorable monthly pricing.  This has worked great for us.  Our demographic for renters leans heavily towards 1) older couples who are visiting their kids, who are often having kids, and 2) people moving to the area who need time to shop the market (or people who are building and need a place locally where they can stay atop the process).

I think that Flagstaff and Fort Collins are similar.  They are both groovy places that people want to be and are moving into at an alarming rate.  Graduates try to figure out how they can stay and build a life.  Grand parents like to spend time with the grand kids.  Older people take great care of the house (generally).  Fewer rentals means less housekeeping, less time managing the rentals, etc.

It took a few years for this to come together.  Now the house is usually in demand and does well.  We don't make a killing but we do fine, and we get to use the place when we want.  Mid-winter does not rent well but we still get some bookings.  When the climate is mild the place is always booked.

Just some thoughts for you to digest.

Good luck!