Short Term/ Holiday Stay

[Bennyhills]

Im keen to get into the investing game in particular Short Term/Holiday Stay.

I got a family friend that positives gears quite healthy with this.

Does anybody on here rent out property for this purpose and if so what kind of problems have you run into?
Just trying to get as much info as possible before the big day comes !!

Thanks
Ben

 

[Jen_PFR]

What's 'the big day'?

We do fully furnished rentals. Main problems for us include a lack of time for turning over properties and ongoing replacement costs of items. Things like linen etc we replace almost constantly - it's rare for all our towels to be returned in perfect condition without indelible marks caused from hair dye, bleach etc. Same with kitchen items.

 

[Ausprop]

can be good but I just had a weirdo recently that hated the place for a million reasons and is demanding a refund - I mean this is a long weekend booking! a lot of stress has resulted

 

[HD_ACE]

can be good but I just had a weirdo recently that hated the place for a million reasons and is demanding a refund - I mean this is a long weekend booking! a lot of stress has resulted

Its probably worked every other time for him.

 

[Ausprop]

Its probably worked every other time for him.

he did up and leave the next day so I really don't know. I already learnt from transacting on ebay that there are all types and sorts getting around out there - some people are seriously off. one ebayer wished a terminal illness upon my children which was just delightful

 

[Clydiex]

I have just discovered this website. What a find.

I have 2 apartments in Melbourne that we let as vacation rentals and they are both positive income. Word got around and I now manage 2 more for people who are extremely happy.

The main things you need to be aware of is taking a copy of there drivers license and imprinting a credit card for any damages. So far in just over a year we have only had a broken toilet seat which the guest reported and there was no issue with them paying.

I personally meet them and we have a set of house rules and departure rules.

We also have a strict nonparty rule.

I hope my information has helped.

Love this forum