VRBO or other setup

[alldodge]

Going to use our other house as a vacation rental and wonder for those that have done it could provide any insight and/or Do's and Don'ts?

This is a 4 BR 2BA with a 2 car attached garage, sitting on 24 acres.

Don't plan or really want to allow 4 wheeler's to run all over the place. I keep the grass cut and like it looking nice. My assumption is it would be basically for boating and fishing use. Might even put a fence up around just the house to keep this down. Not totally against it but would need to be able to figure if it would be worth to open it up to allow it

 

[aspeck]

Around here MOST people who rent vacation homes and are willing to put out the $ that requires are decent people and abide by the rules, but they have to know the rules going in to the agreement. Payment plus security deposit up front with a clear delineation of what the security deposit can be used for in case of missing or damaged items, or cleaning/repairs that range beyond the scope of normal wear and tear. Vet your clients well and hope the good ones return year after year.

 

[Scott Danforth]

I believe that the VRBO has a resources forum (blog, etc). maybe try there.

 

[alldodge]

Agree rules

VRBO might have one and I'll try to find just was wondering if there is someone here that does it them self or other that can provide some insight

 

[Scott Danforth]

the only guy I know that has a few vacation rentals on VRBO left the company. I can reach out to him.

 

[alldodge]

Great thanks, can be any of the rent.com stuff. I want to use a go between and pay someone like vrbo to handle the transactions and such.

 

[aspeck]

A couple friends use a local real estate agent to handle all the scheduling/booking/cleaning/etc. They don't mind losing part of their rent and are happy someone else has the headache. A couple other friends use Craig's List and handle the people/schedule aspect of it and have a cleaning company come in to clean the place after the people leave. They are happy with the added $ it puts in their pocket. A nephew just rented his place out to 3 Wisconsin fans who came in for the PSU/Wisconsin game. They arrived Friday evening at 8PM and left Sunday at noon. 2 bedrooms, 1/2 bath, no heat upstairs where the bedrooms are, small place and he is getting $600 for the weekend.

 

[alldodge]

I do think this will be an easy money maker. There is a guy down the road that has his rented out almost all year long and he gets 145 a night. Tried contacting him to get some pointers and don't think he will because I'm competition, but I would talk to him if it was on the other foot.

I can and have done similar stuff but this time around I just want to pay someone to take care of money side and take their cut. There are a few folks around here which can be trusted to do the clean up and I'll take care of the up keep. Figure I need at least 10K for some furniture and finishing touches.

 

[wahlejim]

I would think something like Air BnB would be a good resource. They have a lot of resources and assurances, including charging the renter cleaning fees if they trash the place. Might be something to look into. And like others have mentioned, price it out of reach of people who won't treat it like it should be treated

 

[jakedaawg]

I used VRBO for many years...I dumped them when they started caring more about the travellers than the owners.

they have made it almost impossible to screen the rental party. You are forced to give them access to your bank account.

the final straw was when they allowed a review to stand that said I threatened the group with a gun. Completely false. Allowing them to accuse me of committing a felony...they are a worthless organization...

 

[alldodge]

I'm open to any of them along with local reality

Good to know about issues with the companies. Figured I would setup another account just for this stuff and this way it keeps the LLC clean.

I bought the property from HUD and fixed it up to let a friend use it while they where moving here. Figured I would decide to do something with it later. Originally thought if it burned down I wouldn't rebuild because I really wanted the land. Might be getting some cows grazing with another buddy

 

[alldodge]

Scott your friend called and talked, nice guy and lots of info thanks much

The guy down the road also called and had lots of info for him setting up and cost

Guess by next spring I'll get it all set up and be ready to go.

Many thanks to all

 

[bruceb58]

I have a vacation rental i have operated since 1999. I have it on both VRBO and Airbnb. I would be happy to call you and discuss what I do regarding taxes, screening etc. I also have a website that I put together years ago.

 

[alldodge]

Thanks PM sent

 

[Old Ironmaker]

As someone that has been renting out properties for the better part of 40 years the best advice I can give is this. The most important factor for renting a property is the personality of the owner. You have to have a thick skin and be able to be calm and collected when things don't go perfectly, and they will go south sometimes, it's inevitable. You must be trusting person by nature, very trusting. Not all renters turn out to be the people you wish they were. It's usually their kids and friends that don't have the same respect for people things as the parents do and that's when things can go badly. We don't vet the kids.

I bit the bullet and hired a Real Estate firm for the property in Messa Az. Took a big hit but slept well at night knowing they could be there in an hour. Mine was a days travel from Toronto. I decided to go that way after renting property in south Fla. I was lucky to get the same renters for 5 years for the month of March and bought in Arizona during the real estate bust in 07' when I convinced them to buy a property, mine. Sold in Messa 2 years ago. Short term rental is challenging and labour intensive when you have a few days, maybe a few hours for turn around. You are going to have to pay someone to clean and prep. If you can go long term if possible.

 

[alldodge]

Thanks, I have rented a few properties over the years but got tired of the 1 year plus renters. While I have had some good renters, the larger majority worth not worth the money I made from them.

I like the idea of higher dollar vacation rentals, and hope this works out better. Had 3 LLC's to cover the 3 props, now down to one mortgage loan and another rent. Will reactivate the 3rd to use for this one, or at least that is current plan

 

[bruceb58]

Thanks PM sent

Did you send it to me? Don't see it.

 

[alldodge]

Did you send it to me? Don't see it.

Agree, just looked at my sent folder and it didn't go
Just tried again, and it didn't go either and was using the "contact me"

Tried again typing in your name and it did something different but still not showing up. May happen in a short

 

[Old Ironmaker]

You know what you are doing Dodge. Except the Dodge thing unless it's a 60's muscle car. Never had luck with any Chryslers. BIL that worked at the GM plant in Niagara put in 30 plus years in electrical there and won't drive anything but Chrysler and won't let his wife either. Including his plastic body Pro Stock Modified. I think it's GM powered but won't admit it.

 

[alldodge]

Have had many different ones foreign and domestic and they all have their issues, but in the old days the Fords where my bread and butter making money fixing them. Today they all make some pretty good vehicles. The Admiral has a Cadillac SRX and I think yet another dang hub is going out again, number 3 (have a hub sitting on the shelf). Like the car but does have a weak spot. Do like the new Fords but my truck has no issues and running good