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Mountain View, Sunnyvale, and Los Altos Vacation Rental Management: a Snapshot

We’ll begin with a glance at key AirDNA statistics on vacation rentals in three Silicon Valley cities.

MOUNTAIN VIEW
Number of active rentals: 761 (54% entire home rentals)
Average daily rate: $204
Average occupancy rate: 73%
Average monthly revenue: $3,014
[source]

SUNNYVALE
Number of active rentals: 708 (46% entire home rentals)
Average daily rate: $179
Average occupancy rate: 74%
Average monthly revenue: $2,469
[source]

LOS ALTOS
Number of active rentals: 142 (50% entire home rentals)
Average daily rate: $231
Average occupancy rate: 68%
Average monthly revenue: $3,566
[source]

All three cities have room for occupancy improvement. Let’s say, with optimized vacation rental management, the average occupancy rate in each city rises to a level that raises average monthly revenue by 25%. In Mountain View, average monthly revenue would rise to $3,767 – an increase of $753 per month and $9,036 per year. In Sunnyvale, the increase would be $617 monthly and $7,404 annually. And in Los Altos, a 25% increase in average monthly revenue via property management improvements would result in monthly revenue growth of $891 and $10,692 a year.

What does it take to achieve that enviable level of improvement – or more? We spell it all out in a FREE guide,

In this complimentary guide for property owners looking to optimize every major aspect of vacation rental property management, you’ll discover:

  • How to maximize your exposure on the web (Hint: Airbnb is just the beginning)
  • What you need to know about online listings on sites like Airbnb to turn browsers into renters
  • The importance of optimizing communication with inquirers and renters to maximize your bottom line
  • What every vacation rental property owner should know about price optimization
  • Details that heavily contribute to vacation rental success
  • The strategic side of vacation rental ownership
  • How to determine if you’re a candidate to manage your vacation rental yourself or go with a full-service vacation rental management firm

The guide is free and without obligation. It’s a quick read. We’re confident you’ll find it valuable.

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Palm Springs and Palm Desert Vacation Rental Owners Shouldn’t be Deterred by Regulations

Yes, regulations for vacation rental owners in Palm Springs and Palm Desert can be daunting and even intimidating. But they shouldn’t stop you from taking advantage of what could be an excellent income source.

According to the Mashvisor Palm Springs Real Estate Market Report 2020, the city’s average monthly Airbnb rental income is $4,470. That works out to $53,640 a year. Of course, that’s just the average. Some short-term vacation rentals pull in far more in annual income (and some considerably less).

Now, about those pesky regulations: if you’ve Googled your way to the 21-page Ordinance No. 1918 or combed through the Frequently Asked Questions document on short-term vacation rentals in Palm Springs or the collection of documents on Palm Desert vacation rentals and concluded you have no desire to tackle this on your own, we have a suggestion: don’t (we’ll discuss an easy way to take care of this stuff in a moment).

After all, few Palm Springs and Palm Desert vacation rental property owners are interested in the minutia of existing regulations governing vacation rentals – or in staying on top of regulatory changes going forward.

And regulatory compliance is just one facet of optimized vacation rental property management. On Airbnb and many other sites, listings should take advantage of each site’s qualities and attract the right potential renters. Communication with inquirers and renters must be flawless – and timely (even during evening hours, including, at times, 2 am calls from renters).

Pricing needs to be optimized on a daily basis. Housekeeping must not only be maintained at a hotel-quality level; housekeepers should be trained to spot damaged items, wear-and-tear, and other issues, and promptly report them, to help maintain strong reviews.

On that note, “review management” isn’t just a fancy term; it could mean the difference between high and mediocre net income. Gaining Superhost status on Airbnb is, for many owners, a financial bonanza.

As for that easy way to keep you from having to go it alone, many owners have chosen to get the best Palm Springs or Palm Desert vacation rental management company available. Very often, the added income from price optimization alone covers the monthly management fee.

With a vacation rental property management business like One Fine Flat managing your property, you offload a big burden while enhancing your listings, broadening your exposure, improving your reviews, and raising your income.

Find out more about optimizing every key aspect of Palm Springs or Palm Desert vacation rental management by downloading our complimentary guide, Capitalizing on the Vacation Rental Boom: 8 Keys to Success. You’ll also learn more about One Fine Flat, the vacation rental property management service that does it all, so you largely sit back and collect a direct deposit each month.

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San Diego Vacation Rental Management
(or, a Guide for Property Owners
on Riding the Roller-Coaster)

In 2018, the San Diego City Council approved regulations governing short-term vacation rentals. Three months later, they abruptly canceled them. Now, with the City Council under pressure to enact new regulations, many vacation rental property owners are feeling as if they’re in limbo and waiting for the next shoe to drop.

It’s understandable if the ups and downs of San Diego vacation rental regulations induce a sense of dizziness. But it’s worth emphasizing that when short-term vacation rentals are properly managed, ownership can be largely stress-free – and extremely lucrative.

Consider this: AirDNA lists a $210 average daily rate for San Diego vacation rentals – and a 69% average occupancy rate. This means many San Diego vacation rental owners are making what they consider very good money during each day of occupancy. Trouble is, they aren’t getting enough occupants.

One big contributor to underperformance for San Diego vacation rental property owners is the complexity of the optimization game on sites like Airbnb. Most owners aren’t experts in the hyper-competitive world of Airbnb (or Vrbo, or HomeAway, and so on). And with 11,000+ active rentals in San Diego, according to AirDNA, it’s easy to feel a bit intimidated.

These challenges have led lots of San Diego property owners to full-service vacation rental property management companies for handling everything from staying on top of changing regulations to managing site listings for a competitive edge – and even daily rate optimization via advanced technology for revenue management.

Here at One Fine Flat, we do all that and more. Our aim is to be the very best vacation rental property manager in San Diego, so you largely sit back and collect a check each month.

Whether you’re in Mission Beach, Mission Bay, Pacific Beach, over in La Jolla, or elsewhere in greater San Diego, we’re ready to help keep you off the roller-coaster and on the gravy train. Schedule a complimentary consultation with a One Fine Flat expert on short-term vacation rental management in San Diego. If you qualify, you’ll receive a free revenue projection for your property. And you’ll learn how One Fine Flat makes the entire process surprisingly easy for owners.

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City of Anaheim to Vacation Rental Owners: Manage Your Properties With Care … or Else

Attractions like Disneyland and the Anaheim Convention Center – combined with a desire among visitors to avoid hotels – make Anaheim a popular location among users of Airbnb, Vrbo, HomeAway, and other sites.

But many owners have found the local regulatory environment daunting. Some recent history: In 2019, following complaints from property owners, the City of Anaheim reversed a ban and phase-out of short-term vacation rentals and allowed most owners with permits to keep operating.

Under these rules, short-term vacation rental owners in Anaheim, California who opted to shut down by August 2019 must do so. Short-term rentals located where homeowner associations have banned them must close by December 2022, but those with permits can relocate elsewhere in Anaheim. Other than relocations, for now, permits for new vacation rentals aren’t being granted.

Vacation rental owners will continue to pay the City of Anaheim’s transient occupancy tax. They must also comply with a strict set of “good neighbor” rules or risk losing their ability to legally operate.

Rules include having a local contact ready to respond around the clock, within 45 minutes, to complaints and violations; supplying contact information to neighbors; limiting guests to those ages 21 and above; and compliance with a “quiet time” from 10 pm to 9 am.

Punishment for violators is severe. Two major violations or 10 minor violations within a one-year period are “grounds to revoke a permit,” according to the Anaheim Fact Sheet on Short-Term Rentals. Fines run as high as $2,500 for owners/operators and up to $500 for guests.

In this challenging environment, it’s no surprise that owners are turning to full-service vacation rental property management companies to ensure compliance with regulations – and handle everything from prospective renter inquiries arriving from sites like Airbnb to contact with renters and review management.

After all, many if not most Anaheim property owners don’t consider themselves experts at the vacation rental game and prefer to largely sit back and receive a direct deposit from their vacation rental management service each month.

For owners looking for the best full-service vacation rental property manager in Anaheim, we suggest a call with us. Schedule a complimentary consultation with a One Fine Flat expert on short-term vacation rental management in Anaheim. If you qualify, you’ll receive a free revenue projection for your property. And you’ll learn how One Fine Flat makes the entire process remarkably easy.

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Los Angeles Vacation Rental Management: Optimizing Revenue in a Volatile Environment

What’s new in the largest vacation rental market in America’s largest state? Plenty.

As of November 1, 2019, you can only list one Los Angeles vacation rental property on platforms like Airbnb. The city’s new Home-Sharing Ordinance says you’re required to register with the city, pay an $89 annual fee, and include a valid registration number in each listing.

But wait … there’s more.

That single LA property you’re allowed to rent on a short-term basis must be your primary residence. And you’re only permitted to engage in home-sharing for no more than 120 days per year – BUT you can apply for an “Extended Home-Sharing Registration” for $850, and if you meet the criteria, gain additional rental days.

Now, before you say, “Thanks, but I’ll just keep doin’ what I’ve been doin’ and things should work out just fine,” keep this in mind: fines for listing a property without registering are $500 a day, and rise to $2,000 a day for listings beyond the 120-day maximum (for those interested in math, the latter adds up to $14,000 per week or around $60,000 per month in fines).

That’s the current LA vacation rental situation relating to owners in a nutshell. But then there’s Santa Monica, with its own Home-Sharing Ordinance, adopted in 2015 and last amended in September, 2019.

And what if your vacation rental property is located in West Hollywood? Well, there’s a separate licensing process and set of requirements for that city within a city, with fines for non-compliance running as high as $5,000. And to top it off, WeHo officials have warned owners that “continued non-compliance may result in … criminal prosecution.”

But let’s return to the City of Angels.

Last year, LA whole-home vacation rentals alone accounted for a whopping $2.5 billion in revenue. Clearly, big bucks are involved here – for the city AND property owners.

Given recent changes, it’s never been more important to optimize every aspect of vacation rental management on and off Airbnb. Rather than run the risk of misinterpreting local regulations or making other costly mistakes, many owners are seeking the services of the best Los Angeles vacation rental manager they can find.

The right LA vacation rental management company will optimize your property’s turnover rate throughout your legal rental period each year; ensure housekeeping is done properly on a consistent basis; maximize your odds of achieving Superhost status on Airbnb; make it easy to participate in the “sharing economy”; and help you make the right moves in a changing vacation rental environment.

That’s where we come in. One Fine Flat is capable of handling most everything and relieving you of a big burden, so you largely sit back and collect a direct deposit each month. Schedule a complimentary consultation with a One Fine Flat Airbnb expert on short-term vacation rental management in Los Angeles, Santa Monica, West Hollywood, Pasadena, and other areas in the LA Basin. If you qualify, you’ll receive a free revenue projection for your property. And you’ll learn how One Fine Flat – an innovator in Airbnb vacation rental management – makes the entire process surprisingly easy for owners.

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San Francisco Bay Area Vacation Rental Tip For Property Owners: Don’t Go It Alone

It’s one of the most enticing – and challenging – vacation rental markets.

We’re referring, of course, to the San Francisco Bay Area.

AirDNA has revealed a set of extremely attractive statistics for San Francisco vacation rental owners – including, on average, a $234 daily rate, an 85% occupancy rate, and $3,863 in monthly revenue.

Earlier this year, Airbnb reported 44% year-over-year growth in guest arrivals in the five counties surrounding San Francisco, with a 43% increase in the number of nights hosted.

But with a median single-family home price in San Francisco of around $952,000 and a corresponding monthly mortgage payment of $4,254, property owners on Airbnb need to optimize every major element of the vacation rental process if they want to operate in the black.

And of course, San Francisco Bay Area property owners in the vacation rental game have competition. Airbnb has more than 7,800 listings in San Francisco alone. What’s more, the competition is by no means confined to Airbnb. Hundreds of new hotel rooms have recently been completed or are being built in the city of San Francisco.

The second most expensive U.S. city to live in also has burdensome restrictions for Airbnb short-term vacation rentals. Legal requirements cover owner residency, insurance, compliance with building codes, registration, reporting, taxes, certification, and more.

All of this points toward a recommendation from the experts: don’t go it alone. By choosing the best full-service vacation rental property manager you can find, you’ll receive invaluable advice on making the math work in the tricky San Francisco Bay Area market. In the process, you’ll discover how to obtain the competitive edge you need to stand out from the crowd. And this may be the best part: you’ll gain a resource capable of handling all the stuff most owners would rather not do themselves – from responding to inquiries on Airbnb to housekeeping, so you get more five-star reviews – while you largely sit back and collect a direct deposit each month. That’s what we do at One Fine Flat.

Schedule a complimentary consultation with a One Fine Flat Airbnb expert on short-term vacation rental management in San Francisco. If you qualify, you’ll receive a free revenue projection for your property. And you’ll learn how One Fine Flat – an innovator in Airbnb vacation rental management – makes the entire process surprisingly easy for owners.

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Short-Term Vacation Rental or Long-Term Rental: As a Property Owner, What’s Best for You?

With Airbnb’s enormous popularity, many property owners are wondering whether to rent to short-term vacationers or lease to longer-term tenants. We’ll discuss the advantages of each here.

But first, a couple of key definitions: in the Airbnb world, a short-term renter is someone renting for under 30 days (for example, a vacationer who rents a property near the beach in Santa Monica, California, for 10 days). And as you may have suspected, a long-term renter is someone who leases a property for 30 days or more (for example, an advertising pro who accepts a job in Lower Manhattan and signs a one-year lease for a condo unit across the river in Hoboken, New Jersey – which, by the way, happens to be Frank Sinatra’s hometown).

In some cases, the decision is fairly easy. If your property is located in, say, Camden, New Jersey, even with its proximity to Philadelphia, that city’s low demand level among vacationers translates into a well-below-average vacation rental opportunity. In that case, long-term rental will probably be the best bet. But if you own a residence 4,900 miles away on the beach in Waikiki, Hawaii, upon receiving a revenue projection, you may quickly conclude that renting to short-term vacationers is your best way to go.

In other cases, even where demand among vacationers is strong, regulatory issues may prevent owners from getting their property listed on Airbnb and related sites. Some city ordinances lay down specific geographic boundaries for short-term vacation rentals inside city limits. And even when no city regulation locks out vacation rentals, HOA bylaws may include a requirement that all renters sign an agreement for 30 days or more. Because the vast majority of vacationers rent on Airbnb for under 30 days, such terms all but eliminate a short-term vacation rental opportunity.

What’s more, personal preferences often tip the decision in one direction or the other. For example, if your vacation home in Asheville, North Carolina is enjoyed by you, your spouse, children, cousins, and friends for, on average, one month each year – during different times of the year – you probably aren’t going to want a renter to sign a lease for a year or more (Asheville, incidentally, is in high demand among vacationers).

Here are key advantages of each option:

LONG-TERM LEASE ADVANTAGES

Greater Revenue Consistency

A long-term lease usually runs for one year or more. This can create a highly predictable revenue stream. One key tradeoff in comparison to vacation rentals: average revenue over each day of occupancy may be considerably lower with a long-term lease. But for less risk-averse owners – including many seniors – this option is often attractive.

Fewer Financial Responsibilities

Long-term leases often enable owners to hold renters responsible for utility bills. In areas with high heating and air conditioning bills in the winter and summer, that can translate into substantial savings.

Reduced Number of Variables

When renting to long-term tenants, owners don’t have to list their property, respond to inquiries, stock basic supplies, ensure housekeeping is taken care of, and so on. One outstanding tenant may stick with you for years.

SHORT-TERM VACATION RENTAL ADVANTAGES

Higher Net Income

Your daily rate for vacation rentals from Airbnb may be MUCH higher than your rate from a long-term renter. How much more? Lots of factors contribute to the difference, but you could net 50% or even well over 100% greater income by renting to short-term vacationers.

Lower Degradation Rate

In many cases, vacation rentals earn owners more income while reducing wear and tear on the property in comparison to long-term tenants. That’s because unlike long-term rentals that are generally used every day, even under the best of circumstances, vacation rentals aren’t occupied 100% of the time.

More Fulfilling Interactions

In Airbnb listings, you have the option of renting your entire property or a private room/area. Fact is, many owners love the company and thoroughly enjoy meeting new people regularly. Others who rent their entire place derive considerable joy by reading reviews from vacationers who had an amazing time.

Greater Property Availability

Many owners of vacation homes want their property available for personal use. Very often, it’s the main reason they made the purchase in the first place. With short-term vacation rentals on Airbnb, you’re able to block out days, weeks, or even a full month for personal use of your property, while enjoying the income advantages of short-term vacation rentals.

Improved Scalability Opportunities

Yes, it’s possible for an ambitious property owner to scale a business consisting entirely of long-term leases. But lots of entrepreneurs have started with a single property on the Airbnb platform, and in a relatively short amount of time, grew a substantial property portfolio. Very often, these Airbnb moguls found the best Airbnb property manager available to maximize their income while minimizing stress.

On that note, a recommendation: schedule a complimentary consultation with a One Fine Flat Airbnb expert. If you qualify, you’ll receive a free revenue projection for your property. And you’ll learn how One Fine Flat – an innovator in Airbnb vacation rental management – makes the entire process surprisingly easy. So you mainly sit back and collect a direct deposit each month.

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Texas Property Owners Go Gaga (No, NotThat Gaga) Over Airbnb Vacation Rentals

The Lone Star State is having a full-blown love affair with short-term vacation rentals. Thanks in part to popular vacation destinations like Houston, Dallas, San Antonio, Austin, and Corpus Christi, this booming industry poured more than $3 billion into the Texas economy last year.

In “The 150 Best Places to Buy a Vacation Rental Property in 2018,” a total of nine Texas cities appeared in the ranking, including San Antonio (#12), Corpus Christi (#18), Galveston (#23), Port Aransas (#49), El Paso (#68), Austin (#82), Fort Worth (#86), Dallas (#95), and Houston (#101).

A big driver of the passion for short-term vacation rentals on sites like Airbnb among Texas property owners is (no surprise) good old-fashioned greenbacks.

A vivid example of the added income advantage is found in the Cockrell Hill area of Dallas. A peek at its 75211 zip code from 8/18-7/19 revealed median annual revenue for short-term rentals of $30,120 vs. $16,740 for long-term leases – a $13,380 difference and 80% improvement in revenue.

Texas tourists choose short-term rentals on Airbnb over hotel rooms for a variety of reasons beyond the obvious ability to prepare one’s own food, sleep more people, and very often, save money. For example, Austin, a festival mecca with world-class entertainment, offers vacation rentals where owners encourage guests to enjoy their records and books; play the piano; and bang away on the pinball machine.

Throughout America’s second most populous state, property owners with small and substantial investment portfolios are catching vacation rental fever. One well-known Waco couple, Chip and Joanna Gaines of HGTV fame, offer “Magnolia Stays” for fans. These include the historic Hillcrest Estate that commands a $995 daily rate; the Magnolia House at $795 per day; and the Carriage House, with a $545 weekday rate.

Of course, most vacation rental owners lack the Gaines’ market knowledge and other advantages. With a wide variety of factors contributing to success when renting to vacationers on Airbnb and other sites, many Texas property owners are relying on a full-service Airbnb vacation rental management company.

By working with the best Airbnb vacation rental manager you can find in the state of Texas, you’ll be rewarded with enhanced listings, wider exposure, greater turnover, higher revenue, consistent cleanliness, better reviews, full compliance with regulations, and more.

One Fine Flat is a Texas vacation rental property management service that optimizes every aspect of the process on Airbnb and many other sites, from daily pricing to communication with guests at every phase and housekeeping that enables you to offer hotel-quality cleanliness.

Whether you’re in Houston, Dallas, Austin, San Antonio, Corpus Christi, or another great Texas city, One Fine Flat enables you to maximize your income – and peace of mind. Schedule a free consultation with an Airbnb vacation rental property management expert – and request our complimentary guide, Capitalizing on the Vacation Rental Boom: 8 Keys to Success: 

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Hawaii Vacation Rental Owners Continue To Do Well In A Changing Legal Landscape

We’ll start with several fascinating facts: a recent ranking of the best places in America to buy a vacation home listed two Hawaii destinations – Kihei in South Maui and Waikoloa on the Big Island – among the top 25.

A report by the Hawaii Tourism Authority indicated the number of vacation rental units on the Hawaiian islands mushroomed from 17,000 in 2015 to 23,000 in 2017 – a 35% increase in just two years.

In 2018, Hawaii Appleseed revealed that 1 in 24 homes in Hawaii was a vacation rental property. In Kauai alone, that number dropped to 1 in 10. And in Lahaina, it was 1 in 3.

Combine all that with a quick scan of Airbnb listings in Maui, Oahu, and Kauai running as high as $3,000+ per night, and it’s understandable why interest in short-term vacation rentals is intense among many Hawaii property owners.

But with legislation like Ordinance 19-18 for Oahu short-term vacation rentals – and related fines for violators of up to $10,000 per day – property owners from Waikiki to Waikapu have become concerned about the regulatory side of what’s been an outstanding economic opportunity.

Not surprisingly, owners are seeking out the advice of the best Hawaii vacation rental managers. As a full-service vacation rental management company serving the state of Hawaii – including Maui, Oahu, and Kauai – our focus is on optimizing the experience for owners and renters.

One Fine Flat – our Hawaii vacation rental property management service – ensures you’re always compliant with regulations. We handle everything from optimizing vacation rental pricing on a daily basis to communicating with renters throughout the process and keeping your property squeaky clean – even as your turnover rate rises higher and higher from improved occupancy rates. While you largely sit back and collect a direct deposit each month.

Want to talk about your opportunity in Hawaii vacation rentals? Schedule a free consultation with a One Fine Flat vacation rental property management expert – and request our complimentary guide, Capitalizing on the Vacation Rental Boom: 8 Keys to Success:

Hawaii vacation rental company

 

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Miami Vacation Rental Management: Yep, The Local Market Is Booming – But Be Careful

Realtor.com recently listed Miami as America’s fourth most profitable city for vacation rentals. It’s no mystery why.

Miami beaches are, of course, gorgeous. And they sit in an urban setting with something for almost everyone … throughout every season. For owners of vacation rentals, that’s a significant advantage. Unlike other tourist spots, visitors flock to Miami in the winter and in other seasons.

Vacation rental experts consider the city a year-round opportunity. And the best vacation rental managers in Miami know how to make the most of that opportunity. But we’ll get to that in a moment after we cover the caveats.

Miami-Dade County regulations governing short-term vacation rentals are … well, fairly lengthy. And for some, they’re confusing. Truth be told, the county ordinance is considered one massive pain in the butt by a good number of Miami property owners. But ignore them at your own peril: penalties have run in the thousands of dollars for some violators.

And this may come as no surprise: many Miami owners, like you, want to capitalize on the excellent opportunity in short-term vacation rentals. So, it’s fair to say this is one hotly competitive market.

Success in the Miami vacation rental market means all major elements must be nailed – from regulatory compliance to daily pricing … cleaning services to listings on Airbnb and other sites.

A small percentage of owners have the desire, time, and skill to handle everything on their own – and do it well. Many others have found success by turning to one of the few high-quality and highly-economical services focusing on Airbnb property management. That’s us. At One Fine Flat, you mainly sit back and receive a direct deposit for your Miami vacation rental property each month. While we do the work.

Find out more by getting our complimentary guide, Capitalizing on the Vacation Rental Boom: 8 Keys to Success.