Wealthy Property Holder

[David11354]

Hello Everyone!

I am exploring renting out my new Florida luxury property. Seeking insights from fellow owners: pros/cons, worries like potential damage, maintenance expenses, finding trustworthy renters, and maintaining property prestige.

Do any of you have experience partnering with property managers (PMs)?

Thankyou.

[Helen3 · Accepted solution]

Welcome @David11354 

1. Join your local host group for local insights (on FB normally). Setting a profit and loss budget will tell you likely costs and project income

2. Use the search function on this community to find posts on the topics you are interested in

3. Check STR regulations in your location to see if you can meet the criteria. Check to see if there are any restrictions for your property in terms of whether you can run a business/str

4. Have CCTV outside your property to make sure only those who have booked stay. Using vetting questions to make sure guests are a good fit for your place.

5. I would always recommend using a local established superhost as a cohost rather than a property management company that can tend to be impersonal/have limited operating times/doesn't tend to vet guests carefully as they are income led.

[David11354]

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@Helen3 wrote:

Welcome @David11354

1. Join your local host group for local insights (on FB normally). Setting a profit and loss budget will tell you likely costs and project income

2. Use the search function on this community to find posts on the topics you are interested in

3. Check STR regulations in your location to see if you can meet the criteria. Check to see if there are any restrictions for your property in terms of whether you can run a business/str 

4. Have CCTV outside your property to make sure only those who have booked stay. Using vetting questions to make sure guests are a good fit for your place.

5. I would always recommend using a local established superhost as a cohost rather than a property management company that can tend to be impersonal/have limited operating times/doesn't tend to vet guests carefully as they are income led.

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Thanks for these valuable tips.

[Sophia]

Hi @David11354, following on from Helen's suggestion I just wanted to jump here and share the link to join Local Hosts Club: https://community.withairbnb.com/t5/Local-Host-Clubs/ct-p/en_clubs

You can join the nearest Local Host Club to connect with fellow hosts local to your area. You can share your experiences, exchange valuable knowledge and get advice 😊