I've done both and prefer long term. The income is more reliable and you can screen the people staying there better. With short term rentals, there is more wear and tear from careless occupants, more capital expenditures, a less reliable income source, and fewer regulations.
I was able to acquire 6 typical homes (over a few years) in subdivisions, all approximately 20 years ago. I was turning 40. It was my "money machine" plan to assist with my retirement and to hand off to my child. I managed and repaired them myself, learned much along the way and made some mistakes. They all appreciated a typical percent, at this time, have 4 left, all paid off, total value about 1 million. Nearing retirement, I want to refocus on Real Estate. Selling one now, will reinvest smarter ( i hope ) looking at waterfront properties and there are plenty with one hour of where I live. I am one hour from Helen, Ga. I do like the idea of vacation homes and would probably let someone else manage that. If I retire, my qualifying potential goes down. So , have to reinvest before that. Brother is a broker. I have been studying the market hard for the last few months.
I owned and ran a four plex in a high end beach resort location in south Florida for about ten years. We cashed out with a heavy profit last year along with a lot of the old time Landlords in the area. Ive gone both routes in the same building at the same time actually, so I have a unique prospective on this comparison. Here's the breakdown. The regular long term tenants in our area just became a rouges gallery of squatters, deadbeats, cheats, three time losers, drunks, hustlers, thugs ect. Evictions, fights, domestic issues, bounced checks, police cars, always running out of money, weirdos in the yard, dangerous dogs running around, broken toilets, cat ladies, every conceivable midnight call ect were just becoming the norm rather than the exception. I did well but ultimately packed it in. I would rather just rehab and flip old buildings knowing what I know now. The whole thing was just too much of a liability for me and alot of the other owners. With vacation rentals you reduce or even mostly eliminate the psycho drama associated with long term tenants in a major way and if handled well you stand to make three times the money or more. When you have a 600k property, is it worth the risk and hassle to bring in 1300 a month before expenses for a 1bdrm assuming all goes well, (and it rarely does)? Your responsible for fixing everything at a moments notice, taxes, code violations, utilities, keeping the yard up ect every waking minute a leased tenant is in your building. Even if they have not payed the rent in months. No thanks. I am here to tell you once someone has a key and even a monthly lease for one of your doors your really taking a gamble that they will be the bane of your existence. The honeymoon, if there even is one will be over in a week. Trust me. I'll choose the extra work needed to book a vacation stay here and there from out of state travelers with five grand up front all day. Take the money up front like a Hotel and keep their credit card wide open for the whole stay. That becomes like a running defacto damage charge deposit that you can hit them with at anytime you see fit. That's what the smart Landlords who did short term right in my area would do and the guests behaved themselves pretty much always. I don't care if my guests party or get crazy if they can afford it, that's why they are on vacation. Right? I want them to have fun and come back next year. I would much rather provide a great stay for the right short term vacation clients with money and good vibrations ect than long term tenants with their day to day baggage, issues and endless problems. Sorry folks, it's just the way it is. Ive had good long term tenants that I really like and care about but few and far between. Vacation stays also virtually take the need and pressure/ worry for you to collect the rent out of the equation, which is the hardest part of being a Landlord or property manager. If they wish to stay longer you try to accommodate them if you can. But you don't have to. Just run the credit card again that's on file. Done. They are never staying a single day that is not paid up in advance. Your always in the drivers seat and calling the shots. I like that. With traditional tenants, they really own your lunch before the ink is dry on that lease agreement and your taking on a liability I say. They know they can stay for many months on your dime if it comes down to it and make no mistake they will. The main problem on the vacation side is that your property has to be a vacation worthy destination in the first place and that is serious money usually. Next is more vacancies and upkeep, but this is my take on those supposed setbacks. I can absorb a few weeks of a vacancy after a profitable vacation stay or more. You have made three times the rent for that short stay so it's justified. You also have some time to improve the property, get things right, relax a little and do it again better. Without the psycho tenants on your back 24/7 you can step back, live a little, decompress, get some perspective, improve some booking techniques ect. Wash rinse and repeat. Short term rentals are not that easy to arrange and manage. Don't think you need back to back bookings all the time to be solvent. Work at a realistic pace you can live with. You can opt for outside help or management if you really want the property booked all the time. It's work. As far as wear and tear on the property........ If you think short term vacation tenants are tough on a room, try a long term nightmare hoarder that's really dug in with kids, bills. pets, furniture, belongings ect and feels like they own the place for many months or even years on end. You will be fixing the apt for a month. My apartments were trashed by long term tenants almost at a 7 out of 10 ratio. Again, I am out of that mess. Been there done that. Vacancies? Long term tenants bug out or need to be evicted all the time. Your getting vacancies either way. Everyone talks about how reliable the cash flow is on these videos, but in my experience things fall apart real easy when your knocking on the door asking for your $1500 at the beginning of the month. At least with vacation, you can make up for months of rent in short bursts and have more time to improve and monitor your property during dry spells and even enjoy the property alone for a while which is nice. And as this video suggests, you can always fall back to a very well qualified annual tenant if absolutely needed. With vacation rentals your more likely to have upscale clients from out of town who may be more demanding for certain details, but they at least have funds, leave when they are supposed to and don't have much recourse or incentive to give you any future headaches. I'm OK with that. . My two cents for anyone out there looking for advice. Thanks.
Sound advice. 1. Always make sure you get a solid return as a long term rental and if it works as a short term rental then that's just icing on the cake! 2. Know your highs and lows using tools like AirDNA to know how to reserve capital. 3. Diversification is key. PRO TIP: If you don't have the capital for furnishing you can always rent furniture as well. What are your thought Chandler on master lease investing? (Rental arbitrage)
The one thing many people don’t mention about vacation rentals, is all the work that has to be done during turnover. I would rather have a standard rental. Thank you for the video.
You can easily outsource this to a housekeeper or management company. For me, the biggest effort is tied to communicating with guests looking to book and managing the calendar. This can be time consuming and you need to get back to people in a reasonable timeframe. This definitely takes more time than I had anticipated it would. But again, you can also offload this to a management company if you want/need to.
I literally make 70k/year on ONE vacation unit rental only 700 square feet. Renting it on a year lease id make 1/3 of that. The decision depends on the location.
I’ve bought and sold a couple vacation rentals over the past 3 of years. And sold for a reason! Too much overheard, expenses, headaches with short term rentals. I sold 2 of mine for a profit and currently converting the last one to a long term rental.
Thanks so much for this video. My husband I are currently considering renting out our home as a vacation rental or standard rental and this was super helpful!
Is it smart to look at vaccination rental as something on the side ? Like it’s not the main source of your money . Cause my thing is let a manager company deal with it vacation rentals .
Greetings from Borneo, Malaysia! Good sharing thx ! Vacation rental is good but many risk involved. We used to be having amazing business on Airbnb before the Covid-19 happened. Now we took more diversified approach to channel some of our properties into longer term rental. ☺️
I've learned (in looking at Orlando), the condo situation makes no sense because you get CRUSHED by the HOA fees. The way I was seeing it was I would be lucky to break even after getting a good deal on the purchase price, no closing cost, great rate, 65% average occupancy, and decent management fees. All the extras plus the $250-$750/mo association fees crush the potential of a good rental property in my mind.
Chandler, thank you for this vid. I have been looking at vacay rentals. I only have 1 SFH rental. Glad I haven't decided to purchase a vacation rental. Thank You
I've been looking at vacation rentals as an option, but I think I've been using it to justify purchases that would make sense as a normal rental. Glad you pointed me away from it.
LOL, I have a vaca rental as well as a lot of standard rentals. I had the exact same thought process when I did this almost 2 years ago. While the vacation rental worked out for me, it's always comforting to know that I could always fall back if I needed to. It's nice to get this kind of confirmation. Thanks Chandler.
This calculation seems to be more difficult to make in different states. At this point, I really struggle to imagine how owning rental cash flow in California makes any sense at all. Property tax increases, eviction moratoriums, and the slew of other tenant protections make it very dicey to own long term rental cashflow (commercial property yes, residential no). I'm not saying nobody does it, it's just more complex and fraught with risk in a tenant friendly environment. All of the maintenance items mentioned in your video like the AC unit and other repairs ... it doesn't matter if it's a long term or short term rental, tenant rights demand an immediate response. I would actually consider the opposite, home repair service expenses change with the seasons ... if a property is a vacation rental, you can choose to forgo the rental cashflow in exchange for making a repair in a more cost conducive part of the season. Lastly, how would you change your calculation if the property were purchased free and clear? A big part of many RE investors is based on using other peoples money (loans). If the property is owned free and clear, does that not open the door to different strategies? I enjoyed and agree with most of your video, I think it really just boils down to seasonality and rates more so than occupancy rates. Cycles in the economy impact the rental market just as bad as the travel market ... more specifically the reduction in interest rates drive up home purchases resulting in lower demand for rentals which drives monthly rates down - possibly to the point of being a net negative cashflow.
I'm looking at Phuket, Thailand. There's the city and there are tens of beaches. I've got two choices: buy the city condo or the beachfront (within a mile). Here's my thinking, there can always be more and more new developments on other beaches quickly. But the city doesn't change quickly at all. There will be only the city. There is a much bigger MOAT with the city. The beach, there is so much potential future supply. But again, both will make the yields. There's so many options. I could just stick with stocks and buy a cheaper condo that stays empty when I'm not there as to not lock down my liquidity, and still make good returns that way. Lol. The world of unlimited options!
@@EverydayMoney0 I’m so happy for you! We can’t seem to win an offer there! It’s exploded this year with investors! We’ve gone over asking on 5 offers and still lost. We are trying some smaller lake destinations with less competition but seem to have high occupancy. We’ll see how it goes! You guys in any other markets?!
i have looked at maybe 50 places for sale in my area... not 1. NOT 1 will work as a rental because the prices are SO high. places renting for 1500 are being sold right and left for 200k plus. this is texas with 2.4% average property tax in my county. so this comes no where near the 1% rule of thumb. i don't know what to do
Coworker of mine built a garage with a mother-in-law suite on top specifically for Airbnb rentals. Until the virus came, it seem to be a pretty good idea. They've only had one group of guys rent it and leave a disgusting mess. Everyone else has been pretty respectful.
You talked like you have never had very bad tenants. the risk is there. How about STR? What happens if someone refuse to leave and damage the property?
Im looking at a place that has a great winter and summer rental , but Its a small town and I dont think anyone would want to live there year round . Theres a lot of vacation rentals there .
Hi Chandler, great video I enjoy listening to your information. I also enjoy how you stood your ground but at the same time, you were partials. In the new future, I will be investing here in Puerto Rico in both vacation rental and also standard rental. Your video gave me some more insight on what to do.thank you very much.
@CheeseBall im weary of airbnb for that reason..im not sure you can turn people away..it might be misconstrued as discrimination..and i dont want to rent my place to druggies or prostitutes etc.
The screening isn't great, but you ca also limit your bookings to people who have had many past bookings and positive reviews from hosts. When we get inquires from someone without any Airbnb history, we will ask them several questions - why are you coming to the area, who are you traveling with, why did you choose our property, etc. VRBO is even worse, because they syndicate listings to the broader Home Away and Expedia network, so guest inquires can be even more random. At very least, we do a Google/Facebook/LinkedIn search on guest names before we accept bookings to see who they are. That said, its good to avoid biases based on what people might look like, race, gender, etc. This is a tricky part of it for sure.
What do you prefer to invest in?
Do you consider purchasing properties performing at 9% cash on cash because they are under-rented where you can improve them to a 15% cash on cash?
Short term rentals!
VACATION‼️‼️‼️‼️
I've done both and prefer long term. The income is more reliable and you can screen the people staying there better. With short term rentals, there is more wear and tear from careless occupants, more capital expenditures, a less reliable income source, and fewer regulations.
I was able to acquire 6 typical homes (over a few years) in subdivisions, all approximately 20 years ago. I was turning 40. It was my "money machine" plan to assist with my retirement and to hand off to my child. I managed and repaired them myself, learned much along the way and made some mistakes. They all appreciated a typical percent, at this time, have 4 left, all paid off, total value about 1 million. Nearing retirement, I want to refocus on Real Estate. Selling one now, will reinvest smarter ( i hope ) looking at waterfront properties and there are plenty with one hour of where I live. I am one hour from Helen, Ga. I do like the idea of vacation homes and would probably let someone else manage that. If I retire, my qualifying potential goes down. So , have to reinvest before that. Brother is a broker. I have been studying the market hard for the last few months.
I owned and ran a four plex in a high end beach resort location in south Florida
for about ten years. We cashed out with a heavy profit last year along with a lot of the old
time Landlords in the area.
Ive gone both routes in the same building at the same time actually,
so I have a unique prospective on this comparison.
Here's the breakdown.
The regular long term tenants in our area just became a rouges gallery of squatters, deadbeats, cheats, three time losers, drunks, hustlers, thugs ect.
Evictions, fights, domestic issues, bounced checks, police cars, always running out of money, weirdos in the yard, dangerous dogs running around, broken toilets, cat ladies,
every conceivable midnight call ect were just becoming the norm rather than the exception.
I did well but ultimately packed it in.
I would rather just rehab and flip old buildings knowing what I know now.
The whole thing was just too much of a liability for me and alot of the other owners.
With vacation rentals you reduce or even mostly eliminate the psycho drama associated with long term tenants in a major way and if handled well
you stand to make three times the money or more.
When you have a 600k property, is it worth the risk and hassle
to bring in 1300 a month before expenses for a 1bdrm assuming all goes well,
(and it rarely does)? Your responsible for fixing everything at a moments notice, taxes, code violations, utilities, keeping the yard up ect every waking minute a leased tenant
is in your building. Even if they have not payed the rent in months.
No thanks.
I am here to tell you once someone has a key and even a monthly lease for one of your doors your really taking a gamble that they will be the bane of your existence.
The honeymoon, if there even is one will be over in a week. Trust me.
I'll choose the extra work needed to book a vacation stay here and there
from out of state travelers with five grand up front all day.
Take the money up front like a Hotel and keep their credit card wide open for the whole stay.
That becomes like a running defacto damage charge deposit that you can hit them with at
anytime you see fit. That's what the smart Landlords who did short term right in my area
would do and the guests behaved themselves pretty much always.
I don't care if my guests party or get crazy if they can afford it,
that's why they are on vacation. Right? I want them to have fun and come back next year.
I would much rather provide a great stay for the right short term vacation clients with money and good vibrations ect
than long term tenants with their day to day baggage, issues and endless problems.
Sorry folks, it's just the way it is.
Ive had good long term tenants that I really like and care about but few and far between.
Vacation stays also virtually take the need and pressure/ worry for you to collect the rent out of the equation, which is the hardest part of being a Landlord or property manager.
If they wish to stay longer you try to accommodate them if you can.
But you don't have to.
Just run the credit card again that's on file. Done. They are never staying a single day that is not paid up in advance. Your always in the drivers seat and calling the shots.
I like that.
With traditional tenants, they really own your lunch before the ink is dry on that
lease agreement and your taking on a liability I say.
They know they can stay for
many months on your dime if it comes down to it and make no mistake they will.
The main problem on the vacation side is that your property has to be a vacation worthy
destination in the first place and that is serious money usually. Next is more vacancies and upkeep, but this is my take on those supposed setbacks.
I can absorb a few weeks of a vacancy after a profitable vacation stay or more.
You have made three times the rent for that short stay so it's justified.
You also have some time to improve the property, get things right, relax a little
and do it again better. Without the psycho tenants on your back 24/7 you can step back,
live a little, decompress, get some perspective, improve some booking techniques ect.
Wash rinse and repeat.
Short term rentals are not that easy to arrange and manage.
Don't think you need back to back bookings all the time to be solvent.
Work at a realistic pace you can live with.
You can opt for outside help or management if you really want the property booked
all the time. It's work. As far as wear and tear on the property........
If you think short term vacation tenants are tough on a room, try a long term nightmare
hoarder that's really dug in with kids, bills. pets, furniture, belongings ect and feels like they own the place for many months or even years on end.
You will be fixing the apt for a month.
My apartments were trashed by long term tenants almost at a 7 out of 10 ratio.
Again, I am out of that mess. Been there done that.
Vacancies?
Long term tenants bug out or need to be evicted all the time.
Your getting vacancies either way.
Everyone talks about how reliable the cash flow is on these videos, but in my experience
things fall apart real easy when your knocking on the door asking for your $1500
at the beginning of the month.
At least with vacation, you can make up for months of rent in short bursts and have more time to improve and monitor your property during dry spells and even enjoy the property alone for a while which is nice. And as this video suggests, you can always fall
back to a very well qualified annual tenant if absolutely needed.
With vacation rentals your more likely to have upscale clients from out of town who
may be more demanding for certain details, but they at least have funds, leave when they are supposed to and don't have much recourse
or incentive to give you any future headaches.
I'm OK with that.
.
My two cents for anyone out there looking for advice. Thanks.
Definitely taking notes. We would rather be vacation renters down the line. Confirmed for me about the headaches of tenants vs vacationers
Thank you 🙏, for taking time to help others with your experience
Thanks a lot for your words. They have a big impact as well. 👍
Sound advice.
1. Always make sure you get a solid return as a long term rental and if it works as a short term rental then that's just icing on the cake!
2. Know your highs and lows using tools like AirDNA to know how to reserve capital.
3. Diversification is key.
PRO TIP: If you don't have the capital for furnishing you can always rent furniture as well.
What are your thought Chandler on master lease investing? (Rental arbitrage)
The one thing many people don’t mention about vacation rentals, is all the work that has to be done during turnover. I would rather have a standard rental. Thank you for the video.
Thank you!
You can easily outsource this to a housekeeper or management company. For me, the biggest effort is tied to communicating with guests looking to book and managing the calendar. This can be time consuming and you need to get back to people in a reasonable timeframe. This definitely takes more time than I had anticipated it would. But again, you can also offload this to a management company if you want/need to.
If I buy a vacation rental, will let "evolve" or another company manage it...I do have a life...LOL.
I literally make 70k/year on ONE vacation unit rental only 700 square feet. Renting it on a year lease id make 1/3 of that. The decision depends on the location.
what location you at
How much is that property worth?
I’ve bought and sold a couple vacation rentals over the past 3 of years. And sold for a reason! Too much overheard, expenses, headaches with short term rentals. I sold 2 of mine for a profit and currently converting the last one to a long term rental.
I have both and if you don't mind a little extra management then short term rentals are the way to go to maximize your return.
Hi I am 25 years old, with zero debt and $40,000 saved. What would you recommend for me to do to make my money grow ? Thank you for your video
Thanks so much for this video. My husband I are currently considering renting out our home as a vacation rental or standard rental and this was super helpful!
You're the man! thanks for the info! Love the rich dad book on the shelf! He is the master!
Is it smart to look at vaccination rental as something on the side ? Like it’s not the main source of your money . Cause my thing is let a manager company deal with it vacation rentals .
Do you invest in the Outer Banks, NC market? Looks like a decent vacation rental area.
I been curious about rental vs vacation rental. Thank you for clarifying what they are.
Greetings from Borneo, Malaysia! Good sharing thx !
Vacation rental is good but many risk involved. We used to be having amazing business on Airbnb before the Covid-19 happened. Now we took more diversified approach to channel some of our properties into longer term rental. ☺️
When you get new properties, do you pay cash?
Why is your channel not bigger?? You’re videos are every bit as good as GS or MK
Thank man! We are getting there!
Because his intro
Thank you! I was just trying to go through your videos last week for a video like this.
I've learned (in looking at Orlando), the condo situation makes no sense because you get CRUSHED by the HOA fees. The way I was seeing it was I would be lucky to break even after getting a good deal on the purchase price, no closing cost, great rate, 65% average occupancy, and decent management fees. All the extras plus the $250-$750/mo association fees crush the potential of a good rental property in my mind.
Chandler, thank you for this vid. I have been looking at vacay rentals. I only have 1 SFH rental. Glad I haven't decided to purchase a vacation rental. Thank You
I've been looking at vacation rentals as an option, but I think I've been using it to justify purchases that would make sense as a normal rental. Glad you pointed me away from it.
LOL, I have a vaca rental as well as a lot of standard rentals. I had the exact same thought process when I did this almost 2 years ago. While the vacation rental worked out for me, it's always comforting to know that I could always fall back if I needed to. It's nice to get this kind of confirmation. Thanks Chandler.
This calculation seems to be more difficult to make in different states. At this point, I really struggle to imagine how owning rental cash flow in California makes any sense at all. Property tax increases, eviction moratoriums, and the slew of other tenant protections make it very dicey to own long term rental cashflow (commercial property yes, residential no). I'm not saying nobody does it, it's just more complex and fraught with risk in a tenant friendly environment.
All of the maintenance items mentioned in your video like the AC unit and other repairs ... it doesn't matter if it's a long term or short term rental, tenant rights demand an immediate response. I would actually consider the opposite, home repair service expenses change with the seasons ... if a property is a vacation rental, you can choose to forgo the rental cashflow in exchange for making a repair in a more cost conducive part of the season.
Lastly, how would you change your calculation if the property were purchased free and clear? A big part of many RE investors is based on using other peoples money (loans). If the property is owned free and clear, does that not open the door to different strategies?
I enjoyed and agree with most of your video, I think it really just boils down to seasonality and rates more so than occupancy rates. Cycles in the economy impact the rental market just as bad as the travel market ... more specifically the reduction in interest rates drive up home purchases resulting in lower demand for rentals which drives monthly rates down - possibly to the point of being a net negative cashflow.
Very Helpful. Loving your calculator too.
I'm looking at Phuket, Thailand. There's the city and there are tens of beaches. I've got two choices: buy the city condo or the beachfront (within a mile). Here's my thinking, there can always be more and more new developments on other beaches quickly. But the city doesn't change quickly at all. There will be only the city. There is a much bigger MOAT with the city. The beach, there is so much potential future supply.
But again, both will make the yields. There's so many options. I could just stick with stocks and buy a cheaper condo that stays empty when I'm not there as to not lock down my liquidity, and still make good returns that way. Lol. The world of unlimited options!
I had been pondering this question just out of curiosity. Thanks for the information.
I'm totally agree, thanks!!
Excellent information, sensibly explained.
Thank you.
aaayyyy... I see you have Rich Dad Poor Dad. Excellent choice in books!
What about in known STR areas like Gatlinburg and Pigeon Forge? The prices will never support LTR but have 80 to 90% occupancy as STRs.
Totally agree! If you buy right in a great vacation market the returns are amazing!
@@QualeHouse we went ahead and bought two in Gatlinburg and they are printing money.
@@EverydayMoney0 I’m so happy for you! We can’t seem to win an offer there! It’s exploded this year with investors! We’ve gone over asking on 5 offers and still lost. We are trying some smaller lake destinations with less competition but seem to have high occupancy. We’ll see how it goes! You guys in any other markets?!
@@QualeHouse not yet but we plan to buy a beach house this year on the Florida panhandle.
@@EverydayMoney0 good plan 👍🏼
i have looked at maybe 50 places for sale in my area... not 1. NOT 1 will work as a rental because the prices are SO high. places renting for 1500 are being sold right and left for 200k plus. this is texas with 2.4% average property tax in my county. so this comes no where near the 1% rule of thumb. i don't know what to do
Thanks for dropping the numbers example and CDS Rental Calculator!
Awesome video, halfway through and I have already learned a lot. Thanks!
Do you have any rental properties with swimming pools?
Love the energy man 👍
The good thing about vacation rentals right now is the 10% vacation prop loans. Most long-term rentals require 20% down.
Great info. I’ve been preaching this for years.
Amazing advice bro, I love it.
Coworker of mine built a garage with a mother-in-law suite on top specifically for Airbnb rentals. Until the virus came, it seem to be a pretty good idea. They've only had one group of guys rent it and leave a disgusting mess. Everyone else has been pretty respectful.
You talked like you have never had very bad tenants. the risk is there. How about STR? What happens if someone refuse to leave and damage the property?
Long term rental 👍🏼👏👌certainly monthly cash flow 💵 I killed the 👍🏼Button for CDS cash flow algorithm.
CDS app is really good.. its great to finally get an app where they don't bug you every 5 seconds to get a mortgage
organzied your books by chakra colours nice work aha ;P
AirDNA or Mashvisor. Mashvisor is pretty buggy though
Im looking at a place that has a great winter and summer rental , but Its a small town and I dont think anyone would want to live there year round . Theres a lot of vacation rentals there .
Hi Chandler, great video I enjoy listening to your information. I also enjoy how you stood your ground but at the same time, you were partials. In the new future, I will be investing here in Puerto Rico in both vacation rental and also standard rental. Your video gave me some more insight on what to do.thank you very much.
Didn’t Kris krohn just do a video like this. Great minds think alike
I would be scared if I owned a vacation rental, and agree that it needs to work as a standard rental. I feel like it also comes done to market
Can you even screen renters on a airbnb?
@CheeseBall im weary of airbnb for that reason..im not sure you can turn people away..it might be misconstrued as discrimination..and i dont want to rent my place to druggies or prostitutes etc.
Yes.
The screening isn't great, but you ca also limit your bookings to people who have had many past bookings and positive reviews from hosts. When we get inquires from someone without any Airbnb history, we will ask them several questions - why are you coming to the area, who are you traveling with, why did you choose our property, etc.
VRBO is even worse, because they syndicate listings to the broader Home Away and Expedia network, so guest inquires can be even more random.
At very least, we do a Google/Facebook/LinkedIn search on guest names before we accept bookings to see who they are. That said, its good to avoid biases based on what people might look like, race, gender, etc.
This is a tricky part of it for sure.
AirDNA is awesome
There is no reason to try to calculate a cap rate on a SFR or STR. That tells you nothing.
Glad I saw this.
Great info
I GOT 99 PROPERTIES BUT A CRIB AIN'T ONE!
Who else is waiting for Chandler to announce he is at 100 properties? It’s been a minute man on 99 hah! Jk
@slimdan I've been waiting for the odometer to roll over from 99 doors to 100 for so long now LOL
Love how you gave away your religion with the "For those of you who don't know me"
Nothing worse than going on vacation and the property being sub par, no WiFi air con etc
Hi Mr.Smith
We Like 👍 it
❤️&✌️
How is your vacation rentals holding up ?
Cnat wiat to watch this
Excited to see what you think!
@@ChandlerDavidSmith standard rental in my opinion
Friendly adblock reminder
First
Nailed it!