All Forum Posts by: Trent Reeve

 Trent - If simplified pricing isn't going to drive an increase in bookings, then that is good to know. I decided at the beginning that I wanted to set prices myself to force myself to study and analyze what other folks were doing in the market, and that has worked out pretty well. It's a ski place so the market is highly seasonal and fluctuates a lot based on weather, plus we are on the mountain and so our prices are different from things literally three min away, because we have access that others do not. My sense was/is that this makes it very hard for pricing tools to be effective.

I don't allow pets per association rules but I travel with my large Golden Retriever most of the time.  I bring lint rollers and sweep/vacuum up or even use wet paper towels to clean up after him before I leave a vacation rental.  Even if people allow dogs, I don't think it means to leave the place a hairy mess.  Stating this for your review of the guest.  I would mention it as I don't think it's appropriate just like I wouldn't expect a person to leave an excessive mess (and my checkout process is pretty simple).

Can I bonus depreciate on more than one property serviced in the same year ?

 Thanks for the reply.  Yes that is why I am reaching out to the BP community.  The Air BNB date is middle of October and I just found out my mid-term tenant needs to stay longer so that is why there is a confusion. 

@trent 

@Trent Reevewould you be able to achieve a 20% net  cash on cash return on a 1-2 bedroom condo if you paid $350k with $130k down,7% mortgage. For 30 years?

What is the range of your mo HOA fees o your 3 props.?

I have been a LTR landlord for 20 years now but I've been recently wanting to expand my strategy and possibly looking at trying out the short term rental scene. I normally vacation along the Florida panhandle like Perdido key, Panama city beach etc. and so naturally, as a real estate investor my antennae go up when I travel there and my curiosity starts to tug at me wondering if this is something viable for me. I would love it if you could give me some idea on what kind of expenses I would be running into. I am looking at doing a condo and perhaps managing remotely myself and listing on airbnb and/or vrbo. But I know Florida is very seasonal. How much Occupancy do you have through the seasons? Peak seasons and down seasons what can I expect? HOA fees, insurance, property tax etc etc. What should I expect? With a condo do you need hazard insurance still? Sorry but this is like a whole new chapter that I want get the first hand details from experienced STR owners. Thank you

There are a lot of negatives with a condo over a house.

First I would look at condos on Vrbo and Airbnb and see what the nightly rate and occupancy looks for different times of the year. Some areas there are so many condos that the competition is very stiff and this drives down the nightly price.

HOAs can have crazy rules and they can come up with fees that all the owners have to pay for unique repairs and upgrades and you are forced to pay these. This is above and beyond the normal regime fees.

@Kwanza P.  Great questions! I allow both dogs and cats- smaller breeds tend to cause fewer issues, but clear rules help either way. I charge a pet fee ($50–$100), and some hosts also add a refundable deposit. Definitely review your insurance policy and consider adding a pet liability clause in your rental agreement. Pet-friendly properties can boost bookings - just make sure you’re protected!

Hey @Kwanza P., so we allow 2 dogs up to 75 lbs.

No cats. Way too much trouble with cats. Plus they have a huge amount of allergens. 

There is always liability when it comes to dogs so make sure your STR insurance has the coverage.

We charge $50 each.