All Forum Posts by: Pablo Flores

@Travis Andres

Only PS has that restriction.

@Travis Andres

None are in HOAs except for one in Terra Lago. I usually stay away from HOAs. All are permitted and spread throughout Palm Springs, Bermuda Dunes, Indio and La Quinta. There’s still deals to be found in permitted areas outside HOAs; you just have to know where to look.

@Travis Andres

Times are changing man! Long gone are the times where you can buy a basic STR and expect to kill it. I manage 23 homes in the Greater Palm Springs market and we are 65% occupancy YTD with ADRs about the same as last year. However we're having to work twice as hard to get the same results as we where getting in 2020-2022. We've built an incredible direct booking website, hired a marketing company to do direct marketing campaigns, streamlined our operations to provide a better customer service experience and have been focusing on building our brand so that we aren't as dependent on OTAs. This has paid dividends. To run a successful STR in the post-COVID world you NEED to run your rental like a professional and not just a side job.

@John Malone

Yes you are correct I misspoke. The goal is to make it difficult enough to to deter attorneys from going after your assets.

@V.G Jason

$7500

@Marissa Contreras

Hey Marissa! I love connecting with local investors. I actually live outside of Coachella Valley; I just run my business there. But I’m SoCal based and have thought about investing in Temecula. Let’s definitely connect.

I actually ended up going through with STR Law Guys. They definitely know their stuff and seem like they set up a bullet proof structure. Although you never know until **** hits the fan right?

@Craig Jones

Honestly there is no formula or how to guide to set the right rates. It’s A LOT of trial and error. PriceLabs defaults base rates in my opinion are significantly off. You need to have a good touch on your market to know what the optimal rates are for your property. Slowly you’ll be able to figure out the optimal base rates, seasonal schedules, min and max pricing etc. Contrary to what some folks think, PriceLabs is definitely not a set it and forget it took.

Hello All,

     I am considering Breezeway for its operation functions to help manage my 23 STRs. I currently use Hostaway as a PMS and a list of other softwares to help run my business. I have a decent sized team of boots on the ground. But I like Breezeway as a complement to my PMS to help increase visibility with our maintenance/ repairs operations: completing checklists of things that need repairs, having a centralized platform where everyone can see a task and provide updates on repairs, being able to upload photos as something is being fixed, having time stamps of everything as its being done, and simply having everything on one platform for record keeping. We currently have good lines of communication within our business but a lot of it gets lost in the ether or in the mountains of slack messages we have. Also I like their platform for keeping track of cleanings and being able to customize that to our liking. We currently schedule all our cleanings every 7 days but we have had a few situations where a last minute booking within 7 days resulted in a missed cleaning. So I think Breezeway could help in that regard.

     However, I do think Breezeway is somewhat expensive at $8/property per month. Especially since I'm in the middle of scaling my business. Is there another service with a fixed cost that could help with my needs? For those that use Breezeway, any feedback on the features I mentioned?

Thanks

@KiKi Wood

Dang I was hoping you where using them for outdoor! Then I would really switch over. Indoor hasn’t been a concern for us. It’s the outdoor sensors that occasionally get triggered by wind gusts or dogs barking.

One other complaint I do have with the NoiseAware sensors is that indoor needs to be connected for outdoor to work. There have been occasions where the indoor sensor gets disconnected which disconnects the outdoor sensor as well. I might switch a few of the problem homes I have to Minut and try it out.

 Agree with everyone else's advice. Outsourcing revenue management is very difficult and should be one of the last tasks that you outsource. Price management is the bread and butter of the business and even if you hire someone that specializes in PriceLabs, it takes someone with local expertise to have the knowledge setting the rates for your local market. I have outsourced guest relations, reservations, and bookkeeping/finance but I dont think I could trust anyone but myself or my general manager to set rates.