All Forum Posts by: Sarah Kensinger

Quote from @John Underwood:

If you are using a PM shouldn't they be the one getting the permit since they are.the ones doing the renting?

No usually the owner has to, because the property is in their name. But sometimes the company would need to do something with the county as well. In a city near us, the owner, any host or co-host, and PM company that has to do with the STR must have a background check. 

I don't know many that use Lodgify, but instead hear OwnerRez more often.

Everyone seems to have the same general idea and system to communicate with guests. Just make sure communication and messages aren't overdone. We stayed at a STR once and I was about ready to do something to the host! We received at least 2 messages a day and it did not help the mediocre review I had to leave, due to the condo being rather dirty and missing many items. I don't think the owner, or co-hosting company had seen the property in ages! But all of the messages were a turn off because we were busy with business and fitting in some pleasure time, I got so tired of them all!

It might be an idea in the future to get a guest protection policy (like Safely), that also offers guest screening. 

You have the gist but there's more details involved. Definitely find a CPA that knows, maybe even tailored, to STR that can walk you through the process.

Cold-calling and networking. Start with those you know and then branch out.

All depends on guest avatar, personal preference, and the ROI an investor is looking for.

Cleanliness is majorly lacking within the STR industry, and I wish hosts focused on it more! Really good points! Although starting with neutral colors as the foundation for your decor/furniture is great, a STR can stand out better on the OTA by incorporating tasteful pops of color.

I haven't done a cost seg yet, but I do have a recommendation for a company you could work with...if you choose to get one done. If you want the info DM and I can send it to you.

Quote from @Gilda VanderHeyden:

I just ordered and read Clint Coon's book: Next Level Real Estate Protection.  It was full of so much information and great insights. He uses some real life examples that makes it an easy and interesting read.  I'm interested in doing their free consult to consider working with them on the Asset Protection side.  With the reviews online I found so far, it looks like their tax and bookkeeping have some negative experiences, so probably won't be using them for that. I'm hopeful about their asset protection strategies and services.

@Sarah Kensinger - if it's okay with you, I may just reach out to you to see what your experience has been.

Sure, just DM me and we can arrange a time to chat! 

Also take the reviews with a grain of salt....many times the clients aren't doing their end of the arrangement which makes the bookkeeping and tax departments job harder. Plus, they have been swamped with new clients! Lately they have been restructuring things, so that seems to be working out better for everyone.