All Forum Posts by: Michael Elefante

@Dave Poeppelmeier Check out Airdna - you can use their rentalizer for at least one property for free. It pulls data form that area, occupancy rates, avg nightly rate etc. I would also search on Airbnb and VRBO for the surrounding area - look how much each of those properties charge throughout the year and see how much they are booked out and see what length of stays most of their guests are booking for. This should be a good starting point. Outside of that, you could look at the local hotels and call and ask what their vacancy is, and get a rough idea of the travel in the area... 

@Joe S. The best route to go would be to check out the gov't website and see if they have anything specific on short term rental laws. Many cities now require STR permits. These often have guidelines around zoning and what qualifies for a STR own-occupied permit, STR non-owner occupied permit, or if it is not allowed at all. If still no resources available online, it would be in your best interest to call zoning / codes office to ensure you aware of any potential local laws. Another thing to be aware of is what is required to obtain a permit. Nashville, for example, you need to pass a fire marshal exam. Many of these type of exams require a certain amount of fire alarms that are interconnected, window size for emergency egress, etc. Just something to be aware of. Most of these types of permits cost money in the form of annual permit fee.

Additionally, I would check with the HOA. If the HOA is hard to find contacts for, go through your RE agent or the selling agent to provide that info. Some HOAs drastically increase the amount you have to pay per year in order to operate as STR. I've ran into this in Nashville. Some HOAs don't allow it at all..

BP took my link down - I guess it was against the rules to post links or something of the sorts.. If you search the below on YT, it should pop up for those interested in seeing the before/after photos :) "Incredible Mountain House Transformation: Before & After Photos" or just search my name and see my videos to find it. Thanks for checking it out! 

 Yes, this is included in their cleaning fee they quote you. 

Hey! BP took my link down. I wasn't aware I wasn't allowed to post a link. If you go to YouTube and search my name you can find the video with before and after photos! 

 They are in and out in a couple of hours. Depends if the property is in good shape or a complete mess.. They also clean the charcoal grill out, drain and clean the hot tub. They are usually in teams of 2-3 people for each turn. They really do have it down to a science.. 

@Gerald Pitts Thank you! I see you are in Nashville? Would love to connect sometime and hear what you have going on! I live in Nashville as well :) 

@Thea Jenkins Hey! BP took down my link (I didn't realize posting a video was against the rules whoops!) But if you got to YT and type the following it will bring you to my video I am referencing in this thread and then click on my channel form there if you want to check it out :) 
"Incredible Mountain House Transformation: Before & After Photos"

@Joe Splitrock Cleaners are charging us typically $275 for a turn on this property. We charge guests between $300-350. The cleaners in this area have been operating for years and they do a great job. They actually provide all the linens and towels for us and the rest of the properties they clean. It streamlines the process for them and allows for more turns per day. This way, they come in, strip the beds, take out all linens and towels to wash off site, replace with new ones, clean all surfaces, etc and they're out the door. They do same day turns all the time. For my Nashville properties, we have W/D in unit that they do linens while they clean but also have 2-3x the number of linens so they can swap them quickly while the dirty ones are in the wash. They can also take them off site in a pinch if same day turn is too tight. We used to do check out at 11 am, but just changed it to 10 am to accommodate more time between guests for the cleaners. Check in time is anytime after 4 pm. By having a check out time at 10 am, cleaners typically come to our property first since the vast majority of other properties have a check out of 11. So it's a win win in my mind. Plus most guests are up and out the door before 10 anyways if they have to make a long drive home or catch a flight..

@Michael Baum Interesting point you bring up. I'm honestly not sure. We just like the sound of the name. On our listing, in the amenities, etc we do not check off or state that we include breakfast or full service anything. I would think that it would be pretty easy to clear up. This property doesn't sit inside an LLC with that name - not sure if that would make a difference. On tax return, we just list the property address and no name. I'll have to do more research on that topic though, because I honestly have no idea!
That's awesome to hear about your place in Idaho - congrats on the success!

@Ranjith Marappan Our guests pay cleaning fees. We actually pad the cleaning fee a little bit to take care of future deep cleans and help pay for some of the minor repairs over time. So for cleaning, I consider it a wash when evaluating property for STR.