All Forum Posts by: Chuck Masters

@Nancy Bachety and speaking of contract, I have each guest sign my terms and conditions (it's a contract but terms and conditions sounds more inviting) within 24 hours of their booking using a service similar to Docusign called SignNow. It costs me $60 a year and I have the document prepared where I fill out the Name of the guest and the dates of the booking and send to them via the email provided in VRBO. I also capture a government ID in this document. If they refuse and or don't communicate then I will contact VRBO to have them cancel the booking.

Chuck

@Nancy Bachety your guest could always call VRBO and they can assist with the final payment. The guest really should have access to the account for other reasons. One would think they could take it over the phone.

P.S. Make sure the check is for the correct amount and not over with the guest asking for a difference. 

Chuck

You need to be careful attempting to execute the second payment off platform, it's against the terms of service and VRBO can deactivate your listing. You may get away with it once by saying that you messed up and didn't realize the second payment was made but twice or more, don't think so. 

Chuck

If a returning guest contacts me outside of VRBO for a stay I send them a quote and ask for 25% down then I block my VRBO calendar. I currently collect the payments with a Palpal business account, but Paypal recently has become screwy and wants to hold the money for a period of time unless you can provide a tracking number for the transaction. Yea Right! So I'm giving up on Paypal and moving to Square.

Chuck

I create my own spreadsheet from the financial info obtained from each VRBO reservation. Under Reservations you have financial reporting and payment info. Print these out and pull the data. I receive a 1099 but I rely on the info from these 2 reports.

Chuck 

Florida Family Insurance covers my STR in Florida. It also covers guests stays shorter than 7 days where many will not.

Chuck

You can make a free online guidebook at hostfully where you can just send a link to your guests. I have no feedback on how many guests actually look at the guidebook. I've considered putting little "easter egg" comments in the guidebook for discounts or free stuff to gauge its actual use.

Chuck

The Disney area has the most STR than any other location so it is highly competitive. Finding a new duplex build will narrow your options down tremendously. Some counties in Florida don't allow STR and many HOA's don't allow STR. In order to command top dollar for a STR rental you have to make use of fancy themed rooms, game or theatre rooms, etc. Self managing will help with your profit but don't expect enough to make a lot.

Good Luck

Chuck

@Jim Windgassen Thanks for that info.