All Forum Posts by: Michael Nelson

@Dan Stewart let me clear things up for you. 

Homeaway/VRBO charged the guests a security deposit and either holdsit for you or if you have it selected for the insurance ($59) to cover any damage it’s not refundable to the guests. 

Airbnb doesn’t actually charge a security deposit anymore. The “security” is what you are saying in the event of an incident that you feel you might ask for. Airbnb proclaims from the highest of mountains about $1,000,000 insurance policy to “protect” homeowners but this is also a challenge to collect on. 

For example, I had a guest put their fist into a tv, I had to submit pictures, a receipt for the tv, and a link to the identical model so show cost of the unit. Airbnb then ASKED the guest to pay for the damage. Which they did, but in the event that the guest says no it’s then up to the discretion of Airbnb to mediate. 

HomeAway/VRBO- security deposit 

Airbnb- mediation

I hope this helps clear things up. 

@Account Closed The greater Orlando area is growing faster than most and it’s due to huge dollars from investors, not just on vacation rentals but on commercial properties as well. The outlying areas are going from orange groves and horse ranches into full blown neighborhoods so the market is being saturated with inventory. There are a lot of great deals out there but with patience and the right due diligence you can score some stellar finds. Feel free to pm me if you would like to discuss further. 

@Shante Logan Florida has been a hot market for STR, as any Florida agent can tell you on here. If you are actively looking to purchase a property in the next 30-60 days then let's chat about the location and property details you want. Shoot me a PM.

@Denise White I honestly didn’t even know they had one, thanks for giving us some feedback and saving everyone the time. 

@Joe Kim Large events like the Super Bowl turns everyone into an Airbnb host, there’s some unrealistic figures out there that have people thinking $8,000 a night for a standard house will fly just because of the event but I think you were priced just right. When it comes to larger events like this holding back from dropping your Rates has to happen to get what you KNOW you can. Good for you Joe, I’m glad you got not only a good rate but for a week! 

I think setting a reasonable floor number of guests to be included in the rate is fair. So let’s say 6 people for a 3 bedroom, but to have a list price only including 1 person and jumping to 200 instead of the 125 a night I thought it would be can lead me to either lie about how many people are actually staying or find another listing. I’m not against charging per guest but just like any other fee, keep it in moderation. 

flat price, nickel and diming guests never goes over well. 

@Craig Gerulski your turn around time from purchase to up and running depends on your preparation. We turn Properties in 3 days, it really comes down to how fast do you want to set it up. 

@John Bucknum best case scenario is the short term rental model works and you continue doing it. Start with just one unit and see how it does. This also gives you a “model unit” to show perspective tenants. As previously stated, do your homework to ensure that this is even a viable option as well as ensure that the laws don’t limit you on short stays.