All Forum Posts by: Julie McCoy

To the best of my knowledge the city of Austin is one of the most regulated in terms of STRs. It is definitely to your benefit to be aware of (and follow) the local rules & regulations. Yes, plenty of people try to fly under the radar, but if/when they are caught, the city will likely fine them significantly and may levy additional penalties. Also, have you made sure your insurance will cover STRs? Most homeowners and landlord policies will not, leaving you liable for any claims or damages. You’ll likely need a specialized policy from a company like Proper. Good luck with your venture! Austin is a hot area, may you have many bookings with excellent guests!

I’m in the process of building a site for my current VR - while I don’t expect it to compete with the bookings I get from AirBNB, I want the professional appearance (I’m using a WordPress template for VRs/BNBs) and I want to explore targeted marketing AND just have it for direct bookings. I’ve only had my place listed for four months but have already gotten a word-of-mouth booking, with potential for a lot more. So, Lucas Carl I don’t have anything to show yet but I think there’s a lot of potential uses for it.

LOL he should tell them yes, @George P.!  I mean, since they're offering... ;) 

@Eric A. thanks for an excellent post!  I'm wanting to try this model in my home market of Los Angeles but the rental market is so hot I think I'll be sorting through a lot of leads before I find a landlord willing to take a (perceived) risk on me vs. a traditional tenant.

One question - why would a landlord agree to first months' rent due after 60 days?  I presume you've done it or you wouldn't have suggested it, but if I were the prospective LL I'd feel like I was being asked to stick my neck out for 60 days.  How do you propose that in a way that's perceived favorably by the LL?

My thing about the extra-people charge is I don't like the nickel-and-diming of it all.  I agree it encourages people to be dishonest, and I know I as a consumer don't like add-on charges, so I don't want to do it to my clients either.  Nor do I want to feel like I need to act as an enforcer.

@Valerie Rogers I agree with your approach.  I like the cleanness of the multiple listings, and it allows you to target your marketing in a way the all-in-one method doesn't.  So far I only have one booking for my smaller configuration, but hopefully will get a good review out of it, and will continue to grow it.  

@Paul Sandhu it sounds like you've got a really great business plan for your area - I often think of the towns that center around industries like that, you've found a great way to capitalize on it.  I live in Los Angeles and we have our own industries that draw transient workers (particularly entertainment, an industry I'm a part of) - if I can find the right place, I'd love to do corporate-style rentals for actors or crew in town for projects.  However, the entry price point is very high here, so it's not something I've been able to put into practice yet.

Thanks Peter!  I'll eventually have a third way to configure the house, so I'll just plan a new listing for that, too. :) 

Thanks for your input, @Paul Sandhu!  I just made an additional listing live - even if it doesn't work as well for my market, I doubt it could cause any harm. :) 

Anyone else with a similar situation?

Hey all! I closed on my first STR in June, and after a very successful summer, I am facing a new challenge: now that school is back in session, how to best market my spacious, family-friendly 2/2 + loft house to the couples-oriented fall crowd?

I have the ability to lock off the master bed/bath, which I do with couples to save on energy and cleaning costs (and justifying a lower rate).  I also feel like the smaller space is more likely to attract couples, as well - I'd feel a bit silly booking a 1300sqft house for me and my significant other!

So my question becomes: Should I set up a separate listing for the 1/1 configuration, and gear the listing towards 1-2 people?  Or should I do what I'm currently doing, which is describing the different configurations in my existing listing and offering a lower base price, but then charging $25/person/night after 2?

I feel like the latter is kind of clunky and confusing, but creating a separate listing means starting from zero on reviews.  What are your thoughts?  Do any of you have experience with a similar situation?

Giving this thread a bump... I'm considering the same strategy as @Brittney Wilson-Murray in the City of LA and am curious if anyone has knowledge of the costs of all the surveys, geological reports, permits, city fees, etc. that are required to build.  Obviously there will be a range based on the planned construction, but I wonder if anyone can give me guidelines?  (I'm looking in a hilly area so would need to deal with building on a slope)

Thanks @Shelby Pracht! I definitely will - as soon as I can scrape together some free time. O.O I'm about to make an offer on my first STR, AND about to re-start my full time job so I suspect it'll be a little while. :) And if this first venture goes well, I'll almost certainly be looking to expand...