All Forum Posts by: Account Closed

 lol :) you really aren't basing this on what seller told you or are you? 

It does seem though that average extended stay occupancy rate in about 75%, if that applies also to east of Chattanooga isn't clear. 

For hotels generally in the US, the average occupancy is about 65%. If he can produce financials to back up the numbers.

As it is, it could be 59, 75, 85 or the 90% which could all have a different meaning on revenue and value

Using a 7.5% Cap Rate, the estimated value would then be in this range for each occupancy rate:

What is seller requesting for price? 

You really want to look into historical expense pattern to ascertain you can afford to pay a salary. 

By the way, although the valuation is based on 11 rooms, this technically could be 10 rooms.

@Amy Webber There are some real risk here... sometimes just because the public wants to have their way on something doesn't mean it is necessarily a good thing. 

Some states figured out a long time ago that there is a strong demand for weed / cannabis, figured out it was too expensive simply running around trying to enforce illegal growing and possession charges every year then decided to cash in, legalize, control and tax it. 

So weed is legal in some states, they generate tax revenue from it. It doesn't mean its healthy for you... if you go smoke some trees then apply for a job for instance and fail a drug test, you can't blame the state. So the state then has to deal with consequence of bad laws that was based purely on popular demand.

There are significant public safety implications with using SFRs for STRs... a residential SFR building may not be up to code for use as a hotel. In New York for instance, officials probably did the math, and figured the cost of having to run around inspecting every residential building to determine if its up to code and fit for use as a hotel is just too much headache. If the residents really want to, they can check into a hotel.

Not to mention the cost of having to monitor and enforce compliance, which still has to be done because if they fail to and people start getting hurt, they could be said to have been negligent.

Technically, she would have been trespassing at this point. If the hotel says checkout time is 11am and client refuses to leave or appears to be under the influence of something, giving them some sort of grief, they may be inviting a the use of force. 

The video recording shows him trying to get her out of the room and visibly upset -- maybe someone else booked room, and he has to get room ready for next guest. There are many issues that could have got him upset. It is actually not clear she actually has a case. 

She could also have fell down the stairs all by herself. Did you look at the details of the video? She really did seem unconscious.

 Intent is a material issue here and is one of many elements they would have to prove beyond a reasonable doubt. He didnt for instance accidentally assault her... which would then be your case if you claim intent isn't a necessary element to prove.

http://www.legalmatch.com/law-library/article/elem...

 @Charlie MacPherson Assault & Battery? Thats a stretch! You may have a very hard time proving how the landlord intentionally meant to cause physical harm to her.... she fell down the stairs while being evicted from the room... that is probably his story...

If he went in there saying she had to leave the room or he would use such and such weapon on her.. that is a different story. From the video though, she appeared to be unconscious prior to taking the dive down the stairs. 

Maybe she  was coked up in the room and he felt he had to help her out, obviously upset and she fell in the process. His intent to cause her harm might be a problem to prove which would then mean she may have a chance to collect on the airBNB policy.. it seems.

http://www.nolo.com/legal-encyclopedia/assault-bat...

@Laura Williams You want to be careful when throwing around terms like bribery. It is a federal offense to bribe a public official; it can result in a 15 year jail term. 

@Michael Hooper You are sure the actual numbers isn't in the range stated here? If it is, there is a huge difference between basing a valuation on 85 to 90% occupancy rate, if in fact its about 59%.

@Chris Armstrong These apparently have idea about things... there are those that feel violated by what airBNB is trying to do. 

Does this look like big government, cash wading hotel lobbyist to you?

or this?

According to this video, the airBNB host flipped, literally, on the client, who apparently didnt check out by 11. She does appear somewhat unconscious when tossed down the stairs... so who pays for this if she files a claim against airBNB?

http://nypost.com/video/airbnb-host-from-hell-shov...

It appears airBNB offers a $1,000,000 insurance policy in at least 50 different countries (so she would be covered); the policy however doesn't cover willful acts of crime but apparently does cover certain types on injuries that occur on the property. 

Would this then be an issue covered by the policy or is she SOL if landlords assets can't address her claims; question also might be if she has a claim at all?

@Rhonda R. I think you touched on some points... actually, if I am correct, airBNB does track the policies and requirements for most of the cities and usually publishes it on its website (so they can't say -- oh, we didnt know what the requirements were). It may not be the case for all towns and cities (especially if without a website) but is the case for most of the major cities.

As you stated, different cities often are distinct with different social, cultural and economic characteristics and needs. Cookie cutter policies are usually out of touch and often don't address local needs. 

Its like humans... you may need protein and someone else calcium, the doctor usually doesnt make the exact same prescription to two different people. You just don't dictate magnesium for everyone because airBNB feels that would make its profit margins better. Their lawsuits is not for your well being or your kids, but for theirs.

The world doesn't revolve around airBNB but you seem to have cities out there, getting into the business of drafting legislation and taking a rain check, to see if airBNB feels comfortable with it. They've got things going in reverse. Maybe they need to start drafting a different set of rules for Microsoft, another for eBay and yet another for Google... and while they are it, another set of rules for me.