All Forum Posts by: Robin Searle

@Stacy Raskin I’m curious if you mean MTR (30 plus day minimum)? I own in Venice and I know the whole of Sarasota county prohibits any rentals under 30 days.

@Mike Hern an update on the provision to not allow criminal background checks. This article doesn’t really say how the law will read now.

https://www.courthousenews.com/ninth-circuit-reverses-seattle-ban-on-criminal-checks-for-potential-tenants/

@Irvin Nguyen I have 3 STRs in Old Colorado City in Colorado Springs. I only have TVs in the living area (not bedrooms) and have only gotten one comment in five years that wasn’t even really negative. I have Roku TVs and also provide an antenna for local stations. Just my experience. If I started getting feedback in the reviews that it was an issue then I’d certainly add them!

@Alex Salzman I use Travelers which has an STR rider. I will say I had Proper and they were super expensive and when we had a hail storm and I made a claim on the roof it was a huge fight to get them to cover it. They kept sending out the same adjuster who kept denying the claim but thankfully I have an awesome roofer who fought til we won. That's when I switched insurance carriers!

@Luke Schumacher I have a studio as one of my 3 STRs in Colorado Springs. Very tiny so I found an awesome drop leaf table on Amazon on rollers that also functions as additional countertop workspace. It has two backless stools that hook underneath. It’s amazingly held up great for two years and I’ve had zero bad reviews complaining about it or lack of a bigger table. I think a lot of people also sit on the couch to eat.

@Robert Willard I can only speak for myself but my three in Colorado Springs are still shining bright! I, of course, have a back up plan if that changes!

@Luke Carl SO not true! I am too busy with my residential real estate business to manage my three local Colorado Springs STRs. I’ve used Hoste for 3 years and am definitely making very good money. I view outsourcing handling guest relations and cleaners and maintenance as investment as it allows me to focus on my full time career! I do manage my long term rental as it takes virtually no time.

@Robert Reynolds I bought a vacation home in Venice Florida on the gulf and love that area but Sarasota County has short term restrictions as well as my HOA. I'd probably look a little bit south along the coast if I do decide to invest there. Amazingly my STR's in Colorado are pretty much solidly booked year round. They have always booked up last minute but even in the winter they stay busy. I'd need to research Florida in the summer and how busy they stay. It's pretty hot and humid there now which is why I'm happily staying in Colorado for the summer!

I agree it depends on your goals and work situation. For me, it would have cost me in lost time on my real estate business if I tried to manage my 3 in Colorado Springs myself. I got a wonderful, responsive management company who I'm very happy with. One thing to keep in mind is that if you ever do decide to leave a management company, you will lose all of your reviews and standing on the Airbnb and VRBO platforms. I'm looking at possibly buying an STR near my second home in Florida and have been reading a lot about co-hosting where you work with someone who does everything a management company does but you keep the listing (and therefore reviews) under your own name so may consider going that route next time! Best of luck to you! My STR's have been more successful than I could have imagined and hopefully will continue - but you should always have a back up plan!

@Charles Mier seasonal rental rates have gone crazy in Florida. I bought a house in Venice last year and have been keeping an eye on them. Join the Florida Snowbirds FB page and you’ll get a snapshot of demand. Also check out some property management sites like Horse and Chaise in Sarasota and Venice to see what homes are renting for! If you can buy an investment property there that info might help you make the decision. Plus it’s a little bit of paradise! I’m 7 minutes from Manisota Key Beach. I still live in Colorado most of the time and feel I’ve got the best of both worlds!