All Forum Posts by: Joel Oh
Joel Oh has started 15 posts and replied 187 times.
Post: Design Dilemmas: What's your biggest struggle with designing your vacation rental?
- Posts 188
- Votes 111
It is always the battle between practicality vs aesthetics. High ceiling looks great but increases your utility bill. Bigger doors and windows look great but replacement is hell. Designers often forget about the practicality part and don't think about cleaners. Those are very very important to run the property cost-efficiently.
Post: I really dislike Airbnb. Anyone else?
- Posts 188
- Votes 111
Quote from @James R.:
It's great to get other's feedback about Airbnb. I don't know why our experience has been so lousy. We've only made maybe 10 - 15 claims in 12 years.
In 2022, we had guests with dogs that scratched the floors (repeated scratching of the floor that they do, when they want to go outside) in front of the patio doors. The guests stayed for a month and did not monitor this activity. When they left, they said that the floors were already like that. This is a million dollar property. I sent pictures of the floor before and after. The guests refused to pay. Airbnb took over a month to provide reimbursement of a receipt for $500. Airbnb reimbursed $495.00 (?) Why not the remaining $5.00? Just weird. Other cases have been similar where Airbnb does not payout the amount of the receipt.
Our rating across all properties is 4.5 too. We really do everything for our guests.
It is lousy because you only have 10 claims experience. Claims require certain types of evidence to pass each step. Maybe a professional PM can help the process easier for you. You are probably looking at a chance of delisting at 4.5 rating... I recommend getting some help to make the process easier.
The soaking tub in the middle of the room is a 6-star hotel amenity or an outdated trash. If you can pull it out super nice, I think it is a huge amenity that other people can't copy. I give thumbs down on anything that uses real wood. Not just the safety point but the maintenance level it is way too much work. Good luck!
Post: Airbnb Rental Arbitrage
- Posts 188
- Votes 111
I think arbitrage is a great way to do STR with the high interest rates / inflated housing prices we are experiencing now. Just don't forget that this is a cashflow business more than an investment. You will lose one of the best benefits of the real estate industry, appreciation.
Post: I really dislike Airbnb. Anyone else?
- Posts 188
- Votes 111
Have you heard something called depreciation..? The same thing you claim on your tax return for your properties. Yes, just like you claim depreciation on the use of your property, any company including an insurance company claim depreciation when they pay for your damage. You don't get 100% simply because you replaced the item. I don't disagree that Airbnb claims can be difficult but this is all very common in the industry.
For your payout, I don't know the full story but Airbnb doesn't cover extra fees including cleaning fees. I mean, you don't need to clean the property or pay local taxes since there is no use so I think this is pretty fair. However, this system can hurt hosts who hide the true cost in the cleaning fees.
Maybe deal with an actual insurance company then maybe you will change your perspective toward Airbnb haha.. Good luck
Post: New to Airbnb Hosting? Here’s a Step-by-Step Guide to Get You Started!
- Posts 188
- Votes 111
Quote from @Byron Umana:
Quote from @Joel Oh:
Hey Bryon! What do you think is the best amenities for Airbnb in ROI value?
- High-Speed Wi-Fi: This is essential for both leisure and business travelers, especially in today’s remote work culture. It’s inexpensive to provide but can make a big impact.
- Comfortable Bedding: Investing in high-quality mattresses, pillows, and linens improves the guest experience and leads to better reviews, which can boost occupancy rates.
- Smart TV or Streaming Services: Offering Netflix, Hulu, or similar services is a low-cost way to enhance guest entertainment and stay competitive.
- Fully Stocked Kitchen: A well-equipped kitchen with basic appliances and utensils appeals to families and long-term guests, saving them money on dining out.
- Dedicated Workspace: If your property caters to remote workers, adding a small desk and ergonomic chair can set your listing apart.
- Outdoor Spaces: If your property allows, an outdoor seating area, fire pit, or hot tub can significantly increase your nightly rate and attract more bookings.
- Energy-Efficient Features: Guests appreciate eco-friendly options like LED lighting, smart thermostats, or solar panels, especially in eco-conscious markets.
- Keyless Entry: A smart lock is a relatively small investment but offers convenience and security, which many guests value.
If you’re deciding on amenities to add, it’s always a good idea to research your local market. Look at the amenities offered by top-performing properties in your area and aim to meet or exceed their offerings.
Thank you Byron! That is quite interesting. I see a lot of amenities you recommended as amenities that increase the quality of stay which leads to a higher guest satisfaction but doesn't really affect my return. (Of course, there is a factor that higher rating will increase my booking but that is not just coming from adding one or two amenities) Besides item 5 and 6, I am not sure how much other items will attract more guests to my business. How do you calculate the ROI of your amenities to say these are the best amenities for ROI? I am very interested to see experienced host's perspective.
Post: New to Airbnb Hosting? Here’s a Step-by-Step Guide to Get You Started!
- Posts 188
- Votes 111
Hey Bryon! What do you think is the best amenities for Airbnb in ROI value?
Post: To those who consider themselves very wealthy, is wealth worth what is takes?
- Posts 188
- Votes 111
Being wealthy is not just being rich.
A person who has a lot of money but no time is not wealthy.
A person who has a lot of money but no privacy is not wealthy.
A person who has a lot of money but no relationship is not wealthy.
A person who has a lot of money but no ambition is not wealthy.
Being rich is easy, being wealthy is very challenging.
And yes being wealthy is very worthy because to become wealthy, you need to master your life.
Money is just a small part of your life.
Post: Mass deportations: will it affect rental markets?
- Posts 188
- Votes 111
The reality is, most of illegal immigrants
1. can't purchase a house due to not reporting tax and not having social security number.
2. can't rent A or B rental properties due to the same reason above.
Thier impacts on rental properties or housing market is very small unlike many people believe. They are mostly cramped in a small apartment or renting from slumlords. The issue is they don't pay taxes because they don't have to which makes them not able to participate in the US financial system. Most of people send money back to their countries anyway to support their families so their spending power is very limited. I never seen an illegal immigrant own a house.
Post: Pets and Service animals at STR
- Posts 188
- Votes 111
You can't say no or ask questions about service animals. They are above the law lol.. Don't say anything about you don't allow service animals on your listing. Airbnb will shut your listing down faster than an airplane. Just put a no pet and pray you don't get service animals to your listing. Most service animal owners will not book a place that doesn't allow pets.