All Forum Posts by: Mark Miles

 Not a CPA or atty but to the best of my knowledge, for tax purposes:

- LLC is treated same as an individual if it's a single-member LLC

- If the LLC has multiple members then you'll share the tax burden with those other members

That’s the tax difference

From a liability perspective, an LLC is favorable to shield you but also hurts lending terms

I’m not sure that’s correct. I think it’s whatever entity OPERATES the property, regardless of the owning entity 

What are people using these days to create guidebooks for your guests?

Never said it was an issue. Just trying to dominate every aspect of the STR game. Good luck to you as well

Yeah I manually use the Rule Set on airbnb but would be nice if some software could auto-set this for me (or at least provide me with a list of upcoming long wknds based on school calendars, especially the unexpected long wknds that don’t coincide with actual US holidays)

Depending on season, special events, holidays, school calendars, etc... I manually adjust certain parts of my calendar to different minimum stay lengths (2 nts, 3 nts, 5 nts, 1 week, etc). Is there software that can do this automatically? Or at least notify me? I'm afraid I'm gonna miss a holiday at some point and get screwed out of a big revenue weekend when I should've had a longer minimum stay enforced.

For example, there's some random high-demand "long weekends" that you wouldn't even think about. Like some of the school districts 90 miles away have random parent-teacher conferences on a random Thurs & Fri in October so schools are closed for a 4-day weekend and I need to have a 4-nt min stay when those happen bc demand is high but it's pretty manual to search through all the school calendars. And if someone books only Fri & Sat, then I miss a lot of revenue that I would earn if I enforced 4 nt Wed-Sun bookings on those wknds. I just do it all manually right now...

I’m assuming you buy all Member’s Mark brand, right? How many pods do you leave out for guests? 

For those of you who provide guests with dishwasher & laundry detergent, do you provide liquid or pods? The pods are more expensive but the advantage is you only need to leave a few out and if they go through those, they can buy more on their own. While liquid dishwasher & laundry detergent is cheaper, you basically have to leave out the whole bottle so you risk that they're gonna use a ton of it (either on purpose or accidentally spill it or whatever). Thoughts?

I have a house in an area where trash gets picked up by the city once a week (mid-week). Should I rely on guests to wheel the garbage cans out to the curb every Tues night before trash pickup and wheel the cans back into the garage every Wed after trash pickup? Or should I pay a neighbor to come to the house each week and handle it for me?

Either way I go though, regardless, since trash pickup occurs on Wednesdays, that means that if new guests check-in over the weekend, the house will still have the prior guests' trash in the garage trash cans (note: there won't be any of the prior guests' trash INSIDE the house - only in the garage trash cans). Do you think this will be an issue?

Would you be bothered if you rented a house and there were trash bags inside some of the garage trash cans already? Or would you accept that, since you're renting someone else's house, it's perfectly natural that the family who owns the house (or prior guests) may have trash left behind in the garage trash cans until this week's trash pickup occurs?

More importantly... were you able to get a better price (per ounce) than Costco? Bc I see big jugs of cleaning supplies all over the internet. But when you actually do the math & calculate your cost per ounce (including shipping costs), Costco still wins!!!! Costco doesn't sell the big jugs - you're usually buying like 40-oz bottles of stuff, but those 40-oz bottles are still cheaper (per ounce) than the big jugs I'm seeing anywhere else!!

Like, I see online hotel supply stores selling 4 gallons of shampoo for $50 or $60, but that still doesn't beat (per ounce) Costco's 40 oz of shampoo for $3.50! Guess I'll just buy a dozen 40-oz shampoos from Costco for less money.