All Forum Posts by: Monika Haebich

@John Underwood 25% is actually below average. What are you paying, and what does it include?

All of the places above are good areas! We've also seen a lot of demand from property managers in PCB, Destin, Miami Beach, Melbourne Beach, Santa Rosa, Mission Beach, La Jolla, Ocean City, Hilton Head etc.

Here's a tool that might help you analyze short term rentals in various areas: https://www.airdna.co/

I'm also happy to talk about any of the above markets in more detail. :) 

Proper Insurance, CSA Travel, & AIG Travel are all good options. I'd definitely recommend having insurance on your property, and I'm happy to refer you to someone who works in vacation rental insurance if you'd like. :) 

@David O. are you self-managing your properties, or do you rely on local help? Would love to learn more about how you're running your short term rentals! 

Welcome, Michael! To piggyback off of what @Jeff Rightmyer is saying, a Hawaii vacation rental could be a good option if you're looking to get passive income & are willing to work with a property manager. Let me know if you have any questions! :)  

Hi Chad,

Welcome to the industry! :) It's a fun time to be involved. @Al Williamson has a great site: http://leadinglandlord.com/

I'd also look into the possibility of doing a "fixed rent" or "guaranteed rental agreement." A property manager would essentially buy out your available weeks, leaving you with guaranteed income.

Another thing I'd be wary of when shopping for property managers is the additional fees. A lot of management companies will promise low commissions & tack on extra fees later. Make sure you know what's included and what you'll eventually be billed for.

If you have any questions, I'm always happy to talk. I work with thousands of short-term rental owners, & I always love talking to more. :) 

Peter, this is a really great resource. Thanks for sharing!

Hi Kelly! Sad to have missed the event this year. How was it? I'd love to hear what you learned! 

Ouch. I wonder how conversion rates will play into this (as opposed to just number of bookings). Not really fair to people renting out for only a portion of the year... 

Absolutely agree, @Will Barnard. All stats should be taken with a gain of salt. :) That being said, there is definitely a lot of money currently being invested into the vacation rental industry, and the industry is getting much more sophisticated. 

Piper Jaffray recently projected that the vacation rental industry will grow from $101 billion in 2014 to $285 billion by 2025. Accor just purchased a 30% stake in Oasis, and Choice Hotels is opening their own vacation rental platform. OneFineStay likewise raised $40 million from Hyatt & other VCs, and Wyndham already has a strong foothold in the industry. Vacasa also just raised $35 million to expand.

With hotels getting a stronger foothold in the industry, things will certainly be changing soon. 

@Chuck Pappas oof rough. The thing with trying to avoid the service fee (assuming you don't get kicked off first) is that doing that will push your listing further down. VRBO uses conversion rates in their algorithms to determine "best match."