All Forum Posts by: Ryan Foster

 Yes use it to get a general idea of potential revenue.

You don't need to subscribe to AirDNA to use the Rentalizer tool.  Again like others have stated there will be lots of variation based on market conditions and the way it is marketed and managed.  Don't overthink but get a good baseline.

In general all you need is a baseline for ADR (Average Daily Rate) and OR (Occupancy Rate).

From there you can get AR (Annual Revenue) +/-10% depending on the factors mentioned above.

Use this number to determine if the property pencils for you.

Hi De - 

Thank you for the thorough review.  We have been considering working with HF as well on a deal like this.

Curious, was this your first STR deal done in an LLC? Was it based on DSCR? Any Collateral?

Glad to hear you were able to get the deal done. Thank you again for sharing.

Hi Erich -

We own and manage about 13 properties and have found the best method is to list on both AirBNB and VRBO.  With only 1 or 2 properties you can simply sync them together.  However, with more properties and as you get going you will want more automation, ability to do direct bookings, and dynamic pricing.  For this you can choose one of the many channel managers on the market.  You will manage all listings from the CM and eliminate having to use the platform interfaces.  Good luck!

@Casey Boerger I agree. Condo's can be very tricky. Especially with HOAs. We have one in a prime location for Spring Training but have been forced to only rent for 90d+ by the HOA. AZ as a state is very STR friendly from a regulation standpoint going as far as not allowing any cities to ban them. However, HOAs can still make rules and regulations against them and impose fines. You are better off looking for a nice 3bd/2ba or 2bd/2ba SFR in a nice area around some amenities you can use as a vacation spot. Then STR it the rest of the time. You'll have no issues keeping it rented.

Hi Roddy - I own and co-host properties in the area.  Scottsdale/PV does very well.  Must be very diligent about managing.  Lots of party houses.  That can be a nightmare.  4/3 with a pool will fetch +300 in the high season (now) You'll need a larger 5 or 6 bed to get up in the $1000 range.  There are pockets that get higher prices than others.   Have you been to the area?

I have to say I totally agree with @Jerry W.. To be successful in STR you have to have a hospitality mindset. By taking reservations for a property you do not intend to fulfill indicates you are not prepared for the STR hosting business. I would continue to LTR or if the numbers pencil, partner with an experienced cohost that can provide the proper level of service guests deserve.

Yep.  Why?  Regulation? Local laws?

All our listings are booked in Phoenix, AZ area.  Even at 115 outside.  More bookings this year than last.  People are definitely traveling, just in a new way.  Mostly by car and to warmer, roomier states. Guests also have so much more work flexibility than before.   

This process is only pushing STRing even further into the mainstream.

I am another vote for RemoteLock.  The integration with the platforms is a huge timesaver and enforces the property check in/out times with the guest.  Well worth the money for the automation alone. 

Hi Brad -

For Airbnb, no.  There really isn't a function for this in the platform although I am sure you could get the agreement to them and back if you wanted.  However, it would really slow down the process and make it more difficult.  AirBNB's approach is more focused around we have you covered with 1M in insurance protection for stays done through the platform so outside agreements are not necessary.

For VRBO, yes. VRBO takes a more traditional approach in the STR process. The agreement is between the host and the guest. They do offer an ability to upload a custom RA and have it delivered to the guest for signing. Although it is optional because VRBO also covers the stay with a 1M policy when done through the platform.

I don't use an RA for AirBNB and do use one for VRBO.

I hope this helps.  I am sure others have some input as well.