All Forum Posts by: Ken Boone

Quote from @Annie Seurer:

Quote from @Ken Boone:

I just recently saw a similar post asking if installing PickleBall courts added to ROI. Not scientific at all, but the overwhelming amount of owners who added PickleBall courts said there was either none or very little increase on ROI for the PickleBall courts.

I have STRs with pools, but not in your market.  In my market they do extremely well with and absolutely provide you with a higher ADR.

Interesting! We have seen the opposite - is the rest of the home designed and furnished well? It's so hard to determine the ROI of amenities given there are so many factors.

I really don't know. If I am not mistaken I saw it posted on Bill Faeth's Build STR Wealth facebook group about a week ago. So I really don't have details on it, other than when I saw the posts that there was not one person that said it showed a great increase in ADR.

As always, thanks for the tips!

I just recently saw a similar post asking if installing PickleBall courts added to ROI. Not scientific at all, but the overwhelming amount of owners who added PickleBall courts said there was either none or very little increase on ROI for the PickleBall courts.

I have STRs with pools, but not in your market.  In my market they do extremely well with and absolutely provide you with a higher ADR.

Sounds like you already found the gotcha with a home warranty and rental units. I learned that a long time ago in an LTR. Had a refrigerator go out. Took a week get it under warranty. I realized then they are worthless. Especially with STR, you need things fixed ASAP, can't wait on warranty claims to get processed. It is never fast.

I have been using REI Hub since January and really like it. IMO it is easier than quickbooks and it is tailored for that space.

Quote from @Collin Hays:

Quote from @Ken Boone:

Where did that data come from? From what I keep seeing on MLS and from what I know of friends trying to sell cabins it sure doesn't feel that way. Of course what I see is anecdotal.

Ken, it’s not official - I’ve just been looking at various recent sales on Zillow and comparing to sold prices of the same property in 21, 22, and 23.  Certainly there are some losers out there, but I’m really surprised at the resilience of the values overalll.

Gotcha. Thanks!

Where did that data come from? From what I keep seeing on MLS and from what I know of friends trying to sell cabins it sure doesn't feel that way. Of course what I see is anecdotal.

It only matters if you are operating as an LLC or not. If you are not an LLC then it doesn't matter. If you are an LLC, then if you use your personal credit card, you would then have to pay yourself from the LLC for what was purchased on the credit card, and you personally would need to provide your LLC with a receipt. So the funds need to come out of the LLC one way or another.

Not a tax advisor by any means.

Quote from @Wilson Hunter:

Revisiting the Smokies summer activity. My June bounced back from lower rate April and May, and July will likely beat last year. Curious if others are having this experience.

Actually my May and June 2024 beat my May and June 2023.   I think it is largely due to a change in pricing strategy I tried this year.  My July still has more vacancy than I want but I am anticipating that filling up as well though I don’t think it will beat last year. 

I have a hot tub at two different well properties.  They are drained and cleaned after every guest.  Hasn't been a problem.  We have sediment filters at both properties and then one has an iron filter and softener as well.