All Forum Posts by: Shannon Strickland

Quote from @Patricia Andriolo-Bull:

BTW, they went from a great company, good reviews, to NOTHING!

Wow! That puts it in a different light for me. Running an enduring business requires skilled juggling.

My only STR showed up on a Google search on Expedia, but that's because of VRBO. It doesn't show up on GVR because I don't have direct booking yet.

@Thanh Lu John’s post was very informative. I just explored my PMS (OwnerRez) and I followed the API link for GVR and it will connect if I have a direct booking landing page.

I wish I had purchased with the aim of 20% annual revenue instead of 10%-15% to cover All operating and holding costs.

I wish I had added Airbnb a month after I felt comfortable with my PMS and Vrbo.

I wish I had worked harder to achieve an earlier date-placed-in-service for tax purposes.

I wish I had attended the Avalara MyLodgeTax Lodging Tax 101 within days of closing to understand all the state, county, and local taxes and licenses.

I wish I had known I was responsible for collecting and remitting taxes from Vrbo bookings because of the API connection to my PMS.

I wish I had hired one cleaner at a time from Turno to build trust with one another and pride in keeping an orderly supply closet.

I just hit the first anniversary of the date-placed-in-service, and there might be other “wishes,” but these are what immediately came to mind.

 I am integrated through OwnerRez, and I have not received that email.

I can't find the setting on VRBO, and now I wonder if it's because of my PMS API. Does anyone else experience the same?

Hello @Karina Busch,

Last summer, when I launched my only STR, I did not effectively navigate the tax scenario, but after calling VRBO, OwnerRez, and MyLodgeTax, it eventually got sorted out.

After securing my North Myrtle Beach license, I signed up for VRBO alone to simplify my learning curve. Then, because I was unaware of all the potential taxes, I hired MyLodgeTax to manage this for me. MLT discovered that I needed an additional license from the state, and there are seven different taxes totaling 12% that I must pay monthly. I thought VRBO was collecting taxes, so I didn’t pay them. What I didn’t realize until five months later is that VRBO does not collect and remit on my behalf due to my PMS integration. Needless to say, I ended up paying a summer’s worth of taxes. After I learned what I needed to do (the hard way), things have run smoothly. This was a classic case of “you don’t know what you don’t know.”

Although I was nervous to add another ball to juggle by bringing Airbnb on board in the fall, I am very glad I did, because while the summer was wonderful, VRBO bookings dwindled severely, and Airbnb bookings saved the year. This year, bookings are at a 3:1 ratio, Airbnb to VRBO. If I hadn’t added Airbnb, I think I would have sold it after owning it for one year.

Having said all that, it is my understanding that different markets can be stronger on certain OTA platforms, and it is wise to quickly discover which one dominates your market.

Hopefully, that helps in some way.

The choice may depend on your budget. Andrew Keller is known for his expertise in artistically showcasing short-term rentals, but the cost is unknown.

Hi @Chandra Faulk

I’m curious what your occupancy has been in the year you’ve been on FF. If you haven’t hosted anyone (since there’s no reviews), I suggest lowering your price in small increments until the market reveals what the rent must be. It looks like you and I joined around the same time except I’m in the suburbs of DC— and That is what I did to get my first person. (Supply +Demand +Location) Additionally, professional photos are worth every penny and will help people to stop scrolling and examine your listing. Not one of your competitors have professional photography.

Tips

-lower price

-hire professional photographer

-considering lowering security deposit

Here’s my similarly priced listing in northern Virginia:

https://www.furnishedfinder.com/property/537362_2

P.S. I like your profile.

Hello @Heather Loyal,

I just accepted my first foreign traveling medical professional. It was new to me, and the inquirer immediately offered communication with an AMN relocation specialist. The conversation with the specialist was very helpful! I learned that the sponsoring hospital pays for the work visa and the applicant must go through a criminal background check done through the US Embassy. I highly recommend talking with the inquirer’s relocation specialist.