All Forum Posts by: Wendy Schultz
Wendy Schultz has started 10 posts and replied 333 times.
Post: Air BNB profitability
- Property Manager
- Wisconsin and Florida
- Posts 346
- Votes 227
@Maurice Reynolds I am in Sarasota so about an hour away.
Post: Reunion vs Encore at Reunion vs Championsgate
- Property Manager
- Wisconsin and Florida
- Posts 346
- Votes 227
Originally posted by @Flavio Zanetti:
Originally posted by @Wendy Schultz:
Originally posted by @Flavio Zanetti:
Originally posted by @Wendy Schultz:
We looked at both areas and bought in Reunion. I love it there. It just has a great feel to it. You can rent on your own and choose any property management company or go with the Reunion property management. There is a membership that you can choose to belong to for access to golf and the waterpark but it's pricey. It's a lot less expensive if you rent through the Reunion property management company. We still have access to the community pools which are really nice. We manage our own since we are professional property managers and it's pretty seamless. Championsgate is also really nice but as soon as I drove through Reunion, I was hooked. There are some massive homes and PGA golf courses there too which gives it a really upscale feel. This is a link to our property there. We bought it for $365,000 as a turnkey. It took a little while to get rolling since there are a ton of rentals there but we've been marketing it through social networks, media channels (including USA Today) charities, and friends and it's picking up steam. I'd say the biggest thing is to find a unique property if you can so that you have more to compete on besides price. https://www.simpleliferentals.com/details.aspx?PropertyID=266935
Hello there...
Thanks for your post and happy to hear you are doing well managing the property there in Reunion. Quick question, what made you guys buy at Margaritaville versus Encore for example? Do you also do AirBnB for that matter?
We are still waiting for COVID to pass in order to acquire more properties down there - main resorts we are looking are Champions Gate, Encore, Solterra, etc.
Thanks,
Flavio
We liked the Margaritaville brand and that's the main reason. We thought with the proximity to Disney and the brand, it would do well. We do Airbnb with our Reunion property but not with Margaritaville since you can't rent on your own if you want guests to be able to access the pools.
Interesting... When we looked at Encore, they told us exactly that: if not rented through their Property Management companies / affiliates, folks would not have access to the club facilities...
Encore runs both resorts.
Post: Reunion vs Encore at Reunion vs Championsgate
- Property Manager
- Wisconsin and Florida
- Posts 346
- Votes 227
Originally posted by @Flavio Zanetti:
Originally posted by @Wendy Schultz:
We looked at both areas and bought in Reunion. I love it there. It just has a great feel to it. You can rent on your own and choose any property management company or go with the Reunion property management. There is a membership that you can choose to belong to for access to golf and the waterpark but it's pricey. It's a lot less expensive if you rent through the Reunion property management company. We still have access to the community pools which are really nice. We manage our own since we are professional property managers and it's pretty seamless. Championsgate is also really nice but as soon as I drove through Reunion, I was hooked. There are some massive homes and PGA golf courses there too which gives it a really upscale feel. This is a link to our property there. We bought it for $365,000 as a turnkey. It took a little while to get rolling since there are a ton of rentals there but we've been marketing it through social networks, media channels (including USA Today) charities, and friends and it's picking up steam. I'd say the biggest thing is to find a unique property if you can so that you have more to compete on besides price. https://www.simpleliferentals.com/details.aspx?PropertyID=266935
Hello there...
Thanks for your post and happy to hear you are doing well managing the property there in Reunion. Quick question, what made you guys buy at Margaritaville versus Encore for example? Do you also do AirBnB for that matter?
We are still waiting for COVID to pass in order to acquire more properties down there - main resorts we are looking are Champions Gate, Encore, Solterra, etc.
Thanks,
Flavio
We liked the Margaritaville brand and that's the main reason. We thought with the proximity to Disney and the brand, it would do well. We do Airbnb with our Reunion property but not with Margaritaville since you can't rent on your own if you want guests to be able to access the pools.
Post: "STR Favorite Things" - Pretend you're Oprah
- Property Manager
- Wisconsin and Florida
- Posts 346
- Votes 227
Sure! Just message me your email address
Post: Does anything beachfront on the Florida Panhandle ever cashflow?
- Property Manager
- Wisconsin and Florida
- Posts 346
- Votes 227
I was told by a realtor in the Destin area that rentals usually gross about 10% of their value annually. So, a $800,000 property would do about $80,000. That was several years ago so I'm not sure if that's still the case. I also couldn't tell you if that was the same for condos as well as SFR.
Post: Robust Vacation Rental Software
- Property Manager
- Wisconsin and Florida
- Posts 346
- Votes 227
@Chase Hoover The auto messaging would definitely be hard to give up. It has to make sense and as we're expanding, it's making more sense to have it although it was overkill in the beginning. It's still new to us so we aren't using it to its full capability yet. I am hoping to spend some time working on utilizing the work orders and the owner statements.
Post: Converting long term rentals to short term rentals
- Property Manager
- Wisconsin and Florida
- Posts 346
- Votes 227
Long term and short term are two VERY different ballgames. As others have mentioned, they are a lot more work and involve a lot more hands on interaction from the property manager. I'm a short term property manager and the long term property managers I've talked to have gotten into it because there has been demand for it but rarely have they been able to do it well. It's not in their wheelhouse. It's the same for me not wanting to get into long term because it's a different ballgame. Where are your properties located?
Post: Robust Vacation Rental Software
- Property Manager
- Wisconsin and Florida
- Posts 346
- Votes 227
We use Direct. It's a newer property management software that integrates with the different OTA's, has automated messaging at various timeframes before, during and after the stay and also is really user friendly. We manage properties of owners though as well as our own so I'm not sure if it would be overkill for you.
We tried Ciirus before and it was not good for us.
Post: "STR Favorite Things" - Pretend you're Oprah
- Property Manager
- Wisconsin and Florida
- Posts 346
- Votes 227
I have a checklist that we use for our property owners. I'll email it to you!
Post: Security deposit vs non-refundable fee
- Property Manager
- Wisconsin and Florida
- Posts 346
- Votes 227
@Cheryl Vargas We charge $75 non-refundable.