All Forum Posts by: Leon Lee

 Rachel

I am calling an insurance broker and she gave me this quote. It is promising but I definitely need to drill down on several points. Will have you posted on updates!

Thanks

Lee

Hello fellow STR investors!

I own a quad that is currently being used for short-term rentals. However, the insurance policy I have with Farmers is quite expensive. Recently, I received a quote from Safeco that is only half of what I am currently paying (with similar terms). The broker mentioned that as long as the policy included the term ‘seasonal’, it would cover vacation and short-term rentals.  I am a little hesitant to switch to Safeco because of their parent company’s reputation. According to the Better Business Bureau (BBB), Liberty Mutual Group, Safeco’s parent company, has a low rating. 

Have any of you used Safeco for your insurance needs? If so, could you share your experience? 

Thanks in advance!

Lee

 Andrew

Do you have a guideline or a link on what to include for cleaning teams? 

Thanks

Lee

 Michael

Thank you for the info! I think this route might be a path of least hinderance to go. It seems that the quality of your guests is significantly higher: many of my units have been open for just a year and they are being torn apart!

Thanks again!

Lee

Hi fellow STR hosts,

We’ve had several instances where our cleaning team has reported damages to furniture upon checking in, such as major scratches on the new dining table or chipped nightstands. When we request money from guests, most of the time we get the answer that the furniture was like that when they checked in. We’re wondering if there’s a good system available to capture evidence on guests who damaged the house.

What is a good system to prove that damages were made during their stay, not before they stayed? It seems that it’s not realistic to have cleaners take photos of everything after they clean so that we can have evidence to show the guests that these damages did not exist before they checked in.

Any inputs will be greatly appreciated!

Lee

Thanks for your suggestion. Since it is really difficult finding a reliable and high-quality cleaning crew,  we prioritize our best team and offer them as much work as they want. It seems that discounted last-minute bookings tend to attract problematic guests, which can be a bigger concern than stressing out our cleaning crew. We're curious about other pricing strategies that fellow hosts have used to strike the right balance. Thanks again for your input!

Best

Lee

 We have never tried no same-day checkins. According to your experience, how much does it impact your business?

Thanks
Lee

 These are entire houses. 

Hi, BP STR investors

We've recently switched things up with our pricing strategy. Essentially, we're now offering a 35% discount that's spread evenly across the nearest 14 days, starting from today. It seems working. We figured it made sense to sell off unsold rooms for less, especially considering they're worth $0 if they sit empty.

However, we have run into a bit of a snag with this approach. Since our pricing is more attractive for rooms that are close to the current date, we've seen a spike in same-day check-ins and last-minute bookings. This is causing some stress for our cleaning crews. It seems like guests who book last minute also tend to have more issues too.

So, do you have any suggestions on how we can deal with these problems? Perhaps there are other pricing strategies out there that we could try to boost our performance? Most of our properties are located near major highways and metropolitan areas.

Thanks in advance!

Lee

Hi, BP fellow investors

Before getting Guesty Pro, make sure you read the rental agreement closely: their contract lasts 1-year and automatically renew. If you cancel the contract in the mid of contract year or right after the renew, there is a hefty minimal fee (mine is $400) and you need to pay $400 X remaining months before getting rid of it. 

Just a heads up to you all!

Lee