Chris K STRs @ChrisK_STRs
Short Term Rental Investor 🏡🏖 / Small portfolio owner of STRs / Sharing many of the wins, tips and headaches of vacation rental ownership Joined December 2012-
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Airbnb News: Beach town goes to war with locals renting out their homes to tourists: mol.im/a/13387481
🏡 Airbnb Pro Tip ✅ REMINDER: Revenue does NOT care about your opinions or feelings ! This in in relation to your opinions and feelings about your property, how you design it etc.
🏡 Airbnb Thought 💭 “I wish the bathrooms were more upgraded “ ⭐️ -said no Airbnb guest review ever Guests care more about amenities, location, cleanliness etc , then if the bathrooms are updated. Don’t waste your money on upgrading the bathrooms!
🏡 Airbnb Thought 💭 Are you really an Airbnb owner until you’ve assembled a new amenity on a Saturday night?
🏡 Airbnb Tip ✅ A LARGE part of being on vacation … is being OUTSIDE Design your short term rental space accordingly ! When looking at your budget, start with designing the outside space, and then work indoors.
🏡 Airbnb Win 🏆 Our pickle-ball property is driving excellent revenue and 5 ⭐️ reviews 🚨 One complaint from guests: No court Lighting 💡 so guests can only play when it’s light out This is only a real issue in the winter months when is gets darker earlier. We will be…
🏡 Is this another reason to be LONG Florida ?
🏡 Airbnb Question Anyone ever use one of the axe throw games as an Airbnb amenity? Good or bad idea?
🏡 Airbnb Tip ✅ Don’t forget to put luggage racks in all your bedrooms when furnishing your short term rental!
🏡 Airbnb Thought 💭 Does anyone actually use these coffee makers in their hotel room? All good Airbnbs will have quality coffee makers (that will actually get used )
🏡 Airbnb Pro Tip ✅ Your listing photos should help guests envision their experience at the property. Guests wants to visualize themselves using certain amenities during the booking process, even if they never actually end up using them!
🏡 Airbnb Tip ✅ I use standard size folding cribs for my Short term rentals Easy to move around the place for guests to to use in different rooms and also easy to store when not in use !
🏡 airbnb thought 💭 Things that good airbnbs have that hotels don’t : - washer/dryers in the property -easy and fast check in (smart locks) - amenities - full kitchen - space - other guests not waking you up from hallway noise What else am I missing ?
🏡 Airbnb thought 💭 The real threat to real estate (and Airbnbs) as an owner is CapEx. Any service, repair, improvement, add on cost could be double of what it would’ve cost a few years ago. Agree or disagree?
🏡 Airbnb Pro Tip ✅ I constantly read guest reviews of my competitors Airbnb reviews . It always gives me great insights about what my competition are doing well, or what mistakes they are making- so I can improve on my properties. You should do the same ! 💪🏻
🏡 Airbnb Thought 💭 My lowest numbers of days booked in one month to pay for that months mortgage and expenses is: 3 What about you?
🏡 Airbnb Tip ✅ If you have a mini putt amenity in your short term rental, make sure the putters are colorful! More fun, inviting for guests and pictures much better! 😎 ⛳️
🏡 Airbnb Thought 💭 One thing short term rental owners maybe haven’t told you…. Doing any type of renovation, improvement, landscape work etc for your Airbnb property is hard. Getting someone out to get a quote, then actually getting the quote, and then having them come out…
🏡 Airbnb Tip ✅ Spikeball is popular game and an easy amenity to add to your Airbnb backyard! Costs around $70
Rohin Dhar @rohindhar
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78 Followers 189 Following Communications and Media Relations for the Short-Term Rental Industry@ChrisK_STRs Keeping emotions aside is really important in business
@Timmychannn @ChrisK_STRs @Fire5280 Make host and every guest sign waiver. Charge them $x00 per guest.
@ChrisK_STRs I think this has a powerful impact on the feel of the place overall and can influence whether they choose your property. May not always be worth it but it def makes a difference
@coolidge999 Not quite. Having no mortgage, means that you have more of your net worth tied up in the form of home equity. Could that capital/equity be working harder elsewhere? Opportunity cost can't be ignored.
@HaydenLaverty @ChrisK_STRs @wander @jaentwistle Not many folks in the bell curve want to or can outlay hundreds of thousands of dollars let alone much much less even if there’s a material likelihood they’ll earn a competitive ROI … There’s many levels of why not - it’s a whole thread but it’s basically a) it’s not provable…
@ChrisK_STRs I’m not sure you should assume that. I’d bet @RyanDanz has clients who fit this demographic, with very nice properties that are also very well-run. Its essentially the entire model of @wander (@jaentwistle)
@ChrisK_STRs Where did you buy this? I saw one at a conference once and spent the whole conference playing with it 😂
@ChrisK_STRs I personally don’t travel to spend hours in doors, however, for people with kids this is probably a useful tool to keep them occupied.
@ChrisK_STRs I don't see why I wouldn't.
2024 has been testing me on the property management front. Lots of unexpected outlier expenses and headaches. Been a good reminder as to why its so critical to have ample liquid capital reserves in this industry.
@ChrisK_STRs You guys in Florida or Costa Rica forget something : guests wants this only in areas where it's supposed to be sunny. Operating in windy/snowy/rainy area means you need to do the exact opposite : think inside first, than only outside.
@ChrisK_STRs Any idea what that will cost?
If you (or your spouse) can qualify as a REP, your rental losses can be used to offset your active income. It’s an amazing tax benefit for people buying rental properties. But there are many land mines. Be careful where you step.