All Forum Posts by: Itay Heled

Hi fellow investors ,

does anyone using Cleveland clinic Student Housing Program as a vendor?

i have a short / mid term house near the clinic and interested to know details of  listing and become a vendor for students and medical staff in need of housing 

thanks!

From my very own experience with a tenant in Barrie evicting a bad tenant can be almost impossible in the current broken system.my tenant threaten the tenant from the other unit in my house, was violent ,police was called to the house because of him almost weekly, he stopped paying rent , dealing drugs, caused massive damage  etc. on top of that another drug dealer he brought to the house kidnapped a women into the house until a swat police force was called  and even all of that wasn't enough for the judge to evict him... And he wasn't even the smart type of tenant who knows how to use the system. The system is broken and pathetic and both landlords and good tenant pay hefty price for that.i lost around 40k I will never get until he was arrested by police. I would never invest in Ontario as long as the system is not drastically changed.again this is my personal experience but I know there are plenty of similar stories around

Erin,

Thanks so much for taking the time and send this very valuable feedback!

I agree with most of it

I will try to address few of the point you raise (not to "defend" the property or the decisions I made, but more to reveal the challenges and  context) 

I agree the game room should look much better . it is actually a large nice space that didn't get the love and attention it deserve to shine.

The 8 ppl living room space and kitchen table.

the house is very spacious in terms of bedrooms (actually a group of 7 was at the house last weekend and were impressed by the size). the layout of the main floor however is tricky for a bigger family table. there is no other place for a bigger table without placing it in the living room which is not great either . maybe i should post another nice picture of the table open with extra seats?

1 is it a short term or a mid term?

South Euclid is not a classic vacation destination for short term. the biggest factor in the area and the reason i transformed my LTR to Short term is the Cleveland clinic.

the idea , after speaking with few Short/Mid term owners in the area was to create a space that would be appealing for families and medical crew that comes to the hospital from all  over the world.

in other words , a mix of short term and mid term with higher percentage short term booking in the summer and try fill the slower season from October to end of Feb with mid term nurses/ medical staff & hospital  visitors in discounted prices. 

The challenge i found is nurses and professional medical crew mostly travel alone and looking for smaller cheaper one bedroom solutions.

I know some doctors and medical crews are relocated with their families I just need to find a way to find them.

I am going to post a webpage for the house   in English , Spanish , Russian , Mandarin & Arabic for direct booking so google search of international guest to the hospital may help with traffic. 

regarding my first 5 pictures to look for the story it tells that's a great advice and i will do that!

same with taking a closer look at my competition

thanks again for well thought feedback!

Hi Erin and thanks for your message.

are you able to open the link below?

https://www.airbnb.ca/rooms/1367544530490456693?source_impression_id=p3_1748615666_P3t0Dn29EGEhKfgm

thanks so much for your reply. yes not sure why nobody respond...

Hello fellow STR investors!

I would love to get your feedback regarding a short term rental I listed on south Euclid Ohio this March.

I notice the  estimated profit until end of July going to be significantly lower than what i was hoping to get.

I am not sure if its because I just launch it and its normal or maybe I am doing something wrong and missing opportunities ?

here are the facts:

1 The house is a 4 bedroom 2 bath in a good quite neighborhood in South Euclid Ohio about 15 min  away from Cleveland  clinic  

2 I invest around 60k to convert the house to short term rental  including finishing   basement turns into game room , new floors new paint new furniture's and appliances etc 

3 I hired a professional photographer and list the house on March 1 2025  On Furnished Finder ,VRBO, booking.com & Airbnb (see link below)

https://www.airbnb.ca/hosting/listings/editor/13675445304904...

4 Numbers:

* until end of July  I am expecting to earn a gross total of 13,300 or about 2600 per month. my monthly costs are about 1000$ not including financing.

* since listing I had two longer bookings of about 6 weeks (with a significant discount)

* I got 2 bookings via VRBO and total of total of 4 via AIRBNB 

* I got one good review on VRBO and one 5 star review on airbnb

* I am sending all the messages , communicate with guests immediately and encourage them to leave a review.

* On Airbnb  I notice 13 views on March 6 on April and only 4 On May.

Notes:

a )I am using pricelab for rates and offer weekly and monthly discounts so I believe my prices are in the right range for the area 

b ) my hope that nurses and other medical staff will be a significant portion didnt work so far. nurses almost always looking for one bedroom at $1200-1600 per month. my monthly price is around $3000

my question: 

given the fact  summer is the strongest part of the year  why numbers are not better?

is it just because its a new listing and will get better later on with more reviews  ? 

is there anything else i can do to increase views and booking? 

Thanks so much!

Itay

Hi BP community 

I recently turn my long term rental 4bdrm 2 bath house in south Euclid  into short term furnished house .

currently listing  on Airbnb VRBO & Booking .

I have a standard insurance with state farm right now with 2 million liability policy .

I understand a STR policy is a needed but what is that exactly mean ?

what specific items you find  necessary  to add for a short term rental insurance and what is roughly the cost ?

thanks!

Itay

Quote from @Anja Schaer:

Hi Itay, as an STR host and co-host in Metro Atlanta, I understand your concerns. Protecting your property comes down to smart screening, clear house rules, STR insurance, and monitoring tools. Require ID verification, avoid last-minute/one-night bookings, and use smart locks, Ring cameras, and noise monitors to deter parties. Airbnb’s AirCover helps, but STR insurance is a must, especially for VRBO/Booking.com. Setting higher minimum stays and strategic pricing also attracts responsible guests. Wishing you a smooth hosting experience!

 Hi Anja and thanks for your your reply,

who are you asking for ID?

what exactly you mean by "smart screening"?

on VRBO reservation I have there is zero information other than the name . I was told i can add a deposit  from a VRBO guests

Quote from @Bruce Woodruff:

A) do not rent to people that only have one review. B) do not rent to anybody on a last-minute basis make it be at least 3 days in advance, C) never rent for only one night, that will be a partier for sure. D) sets your age limit higher, I use 30 years old.

just call your regular insurance company and ask them if they insure short-term rentals. I use State Farm and they were super reasonable, but make sure you tell them exactly what you're using it for.

Bruce ,
i was  also insured with State farm when I had the house rented long term  . I notify them I am doing short term and they just said it's fine.
what should I ask to make sure it's fully covered and I won't have issues when something happens? Is there a different policy for short term rental or different items that is added?

Quote from @John Underwood:

Quote from @Itay Heled:

Hi ,

I just list my house for short term

four  young people rent my furnished apartment via Airbnb for two weeks.  the person who rent it has one review . I know nothing about the rest.  few days in they asked to add 4 more people. 

hearing all the horror stories about parties and trashing the house, what are the tricks and ways to minimize the risk?

is it practical and acceptable to do some sort of background checks on the new people?  send someone to visit the house? 

also, Airbnb has some sort of protection but what are you doing with reservations coming from other platforms such as  booking.com VRBO etc?

thanks !

Itay 

Just have the correct STR insurance and don't sweat it

Thanks John 
what type of insurance I should get  and how is it different from my long term rental insurance?