All Forum Posts by: Ryan Foster

Hi Levi -

If using AirBNB, you will need to create a new account, add the property to your account, and rebook any existing bookings.  Unfortunately, it sort of a rip the bandaid off approach when moving properties to new accounts.  

I am all for Automation but some things require a human touch.  Bookkeeping is one of those.  In addition, Quickbooks can be very difficult to work with programmatically.  As Mark mentioned, outsourced bookkeeping works well.  I use Bench for this type of work.  It's been amazing.  Check them out.

Hi Andrea - I pay $140 for my 4 Bedroom / 2 bath in Phoenix. We charge $200 for cleaning so we make a bit on the cleanings. Finding a good (STR) cleaner at the right price can be difficult but is essential to receiving good reviews.

@Reagen Natho I have had this happen with a cancellation.  It took a day or two and a reload of the calendar sync for it to clear.  Did the person book then cancel possibly?

@Jessica Kirkpatrick I accept longer-term STR rentals with my homes. I have one right now building a home here and won't be finished until mid-october. I do have a separate Rental Agreement for these types of longer stays. Never been an issue so far with eviction, etc..

Honestly, most of the long-term guests come through AirBNB and VRBO. Have never needed to market to them.  For longer stays, I typically discuss their needs and work out the transaction directly with them.

This company in AZ just recently started and seems to focus on this.   You may want to see if there is something similar in your area.  Good luck!

https://tweenerhomes.com/

@Jason T. I use both AirBNB and VRBO.  I have found in general, it seems I get the longer bookings from VRBO.   AirBNB tends to bring many more short term booking (up to a week) and makes for good fill in on empty weeks.  I have the calendars tied together so it is pretty seemless.  VRBO brings 1/mo+ typically and booked much farther out as @John Underwood mentioned.  I don't list on any other platforms and typically get an 80-90% occupancy.

I have never tried a channel manager service - but I would imagine if you were managing double-digit properties that would be very helpful.  For now, managing 2 platforms works.

@Corina Eufinger It depends on the state.   AirBNB and VRBO have agreements now with most states to collect the taxes.  You still have to have a TPT license but you file as null (at least in AZ)

Here is the AirBNB article for WI - https://www.airbnb.com/help/article/2337/occupancy-tax-collection-and-remittance-by-airbnb-in-wisconsin

VRBO - https://help.vrbo.com/articles/What-lodging-taxes-do-you-collect-for-Wisconsin

 You can also use a service like Avalera - https://www.avalara.com/mylodgetax/en/index.html

As for software - for one STR - just using the tools in VRBO/AirBNB is sufficient.

Re: Advice:  If you have done PM then you have a good start.  A little more coddling, quicker turn-around on stays.  Make sure you hav a good responsive team - cleaning, maint., etc.  Communication is key.

Lastly, in the end, it is all about reviews.  Make sure the guest has a good experince and you will have no problem.  Be sure to ask for them.  Good luck!

@Ryan Detzel You are correct.  You collect a separate cleaning fee from the guest. Same as income.  You set the price. You pay the expense. Depending on the arrangement with your cleaner you can even turn a profit on it.  Or do it yourself and collect the whole thing ;-)

@Ryan Detzel Go on AirBNB and VRBO and search for other units being rented. See what they are getting. Better yet, use AirDNA.com to lookup what the ADR and Occupancy rates are for the area. In general, seasonality works very well with STR if the location has a big draw where guests will pay a premium to be there.

@Michael Baum It depends on your state.  In AZ, starting in 2019, both AirBNB and VRBO have agreements with the State to collect all taxes directly.  We still have to have a TPT license and file a 0 based monthly report.  It can all be done online and is fairly simple.

AirBNB Tax rules for WA - https://www.airbnb.com/help/article/2336/occupancy-tax-collection-and-remittance-by-airbnb-in-washington

VRBO - https://help.vrbo.com/articles/What-lodging-taxes-do-you-collect-for-Washington