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Episode 036 - The 23 Things You MUST HAVE in Your Short Term Rental (For Your Guests)

 

 

SHOW NOTES & LESSONS

For Safety and Security:

01) Emergency Contact Card (Contact Information Sent by Email, Text, and Posted Clearly)

02) Fire Extinguisher (Right by the Stove)

03) First Aid Kit

04) Smoke Detector

05) Carbon Monoxide Detector

 

For Guest Comfort and Overall Happiness:

 

06) Super-Fast Wifi (Password Sent by Email, Text, and Posted Clearly)

07) Comfortable Mattress (Consumer Reports #2 Rated is only about $500-$700)

08) Smart Television (Plus Cable, if High End)

09) Bluetooth Speakers

10) Charging Stations

11) Smart Locks for Easy Entry (For You as much as Guests)

12) Climate Control Directions (Keep Your Guests Comfy)

13) Coffee, Coffee Maker, Filters, and Cream/Sugar

14) Hair Dryer

15) Iron and Ironing Board

16) Washer and Dryer (a MUST for Long Stays or Active Locations)

17) House Rules, Contact Information, Check-in, and Check-out Times Clearly Posted

18) High-Quality WHITE Sheets and Towels

19) Spare Sets of Sheets and Towels

20) A...

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Episode 032 – Prostitutes and Drug Dealers and Bachelor Parties! Oh, my!

 

 

SHOW NOTES & LESSONS

First, a lesson on Capitalism.  What is Compassionate Capitalism?

A wonderful book by Rich DeVos that describes how True Capitalism promotes growth through competition. 

Donut Shop #1                  Donut Shop #2                  Donut Shop #3

Amazing Taste                     Average Taste                     Lousy Taste

Priced Higher                       Priced Lower                       Priced Higher

First, Capitalism allows competition by allowing anyone to own a business.

Second, products and service determine whether or not a business...

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Episode 026 - Real Life Horror Stories and How to Avoid Them

 

 

WHAT WERE THE LESSONS?

Here are the stories and the takeaways...

Story One: Having your STR guests steal your furniture and electronics from you. Yikes! Imagine walking in and finding your place empty. How long before your unit is up and running again?

Takeaway: Only accept Guests with Government IDs and Good Reviews. Even then, there's always a chance this can happen, so make sure you have umbrella coverage to fill the gaps from Airbnb and Business Income Insurance to cover your lost revenue.

Story Two: You move into a place with really scary neighbors.

Takeaway: Real Estate Investors often talk to the neighbors before buying a property - at least two. You want to know what they know about the property AND the neighborhood. They'll tell you things that the Seller and the Agent won't.

Story Three: Troubled Young Man gets stoned and poops on your bed... gross!

Takeaway: Run a background check and take extra security measures for anyone staying in your home. It's not...

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