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Most houses have occupancy limits based on number of bedrooms. Advertising for "14 people" is a red flag that they are in violation.
We stayed in a VRBO here in SWFL last December when they were working on repairs of damages caused by hurricane Ian- involving mold remediation, tear out of damaged insulation and drywall, and replacement of same. The house was large, with 4 bedrooms and 2 baths, in a rather crowded ( by our standards, anyway) neighborhood, and I think I saw it had been advertised as sleeping 12-14`people. It looked to me as though they had about every horizontal surface designated as a sleeping area to accomodate that many people- not only two double beds or a double/queen bed with a fold out sofa bed, also the living room couches, and two fold out sofa beds in the garage. The garage was unfinished and unheated, no AC that I could tell. I'm not aware of any local or county regulations regarding these STRs, but 14 people in that house would have been way too many.
The house was beautifully decorated, though this wouldn't have been my idea of a place to stay had the circumstances been different, but we weren't given much notice by the drywall crew as to when they would start their work, and it was obvious that trying to stay there during the work would be almost impossible. There were no hotel/motel rooms available anywhere around the dates we needed, plus we wanted to stay fairly close to home during the work. This was around the middle to the end of December, with what seemed to me to be a record number of people in town, between all the contractors/workers there for the post-Ian rebuilding and repairs, insurance adjusters, recent transplants from other states, and snowbirds, and the traffic was a nightmare. I thought we'd have to find a storm drain or pitch a tent somewhere to stay in, so while I completely understand the frustration of the neighbors at having the strangers coming and going all the time, and the potential problems this could cause, I had to appreciate finding a place to stay at this time.
It looked as though this house ( and others, I'm sure), was being rented to groups of workers coming into the area for post-Ian work, the week before, it looked like a out of town contractor had rented the house and had his workers stay there, and before that, there had been groups of insurance adjusters ( they signed the guest book). Though we needed these people I can see the neighbors being less than thrilled about the numbers of people staying there- especially as it looked as though from the overflowing number of beer cans in the trash and recycle bins ( which the renters were supposed to put out at the curb for pickup but didn't, leaving the overflowing garbage and recycle cans, and many filled plastic bags for the next renters ( us) to deal with.
Another thing I noticed with our VRBO experience was something I already knew- too many people don't take even reasonable care of stuff that does not belong to them. I don't think we saw out and out vandalism, but just carelessness. Cigarette burns, tears on upholstery, scratches on wood furniture and on glass tabletops. Other things that needed repairing or replacement from heavy wear and tear that apparently were missed or ignored by the owner or the management company. I sent them a list at the end of our stay.
I have seen ads on TV from STR companies bleating about turning the viewers homes into vacation spots/income when they aren't using them, though I can't imagine anything I'd rather do less than turning my home over to strangers. Lots of reasons, but figuring the ongoing costs of repairing damages caused by careless or indifferent strangers would be a big one for me.
We are getting construction workers, and employees from the Hyundai plant that is being built.
There is a negative review for the house on my street. Strangely, the guy who stayed there let the tub overflow and cause ceiling damage, turned the AC down to 51, and left the front door wide open when he left. Then, he had the nerve to complain that the floor slanted. The review was in Korean, so maybe something was lost in translation.
The owner has made extensive repairs to the house, so it’s not ALL bad.
Interesting that compaines are using STRs for construction workers - I would think that they're more expensive than corporate rates at an extended stay motel, but then again, in areas like this there might not be many options.
The "Turn your (second?) home into a vacation rental and make BIG money!" stuff is a major-league scam. I don't believe there's any consideration for overhead, ike property management or cleaning services. If you're not managing the place yourself, which is a lot of work for a place that could turn over weekly, if not more often, you're paying someone to do it. That's coming right off the top.
Interesting that compaines are using STRs for construction workers - I would think that they're more expensive than corporate rates at an extended stay motel, but then again, in areas like this there might not be many options.
The "Turn your (second?) home into a vacation rental and make BIG money!" stuff is a major-league scam. I don't believe there's any consideration for overhead, ike property management or cleaning services. If you're not managing the place yourself, which is a lot of work for a place that could turn over weekly, if not more often, you're paying someone to do it. That's coming right off the top.
RM
I think in the post-hurricane Ian situation, unless the companies just left their workers up to their own devices to find places to stay, including pitching tents anywhere they could find room, they turned to the STRs because the hotels and motels were completely full, with no vacancies for months on end. The rates they were charging were ridiculously high, as well, even if a vacancy or two came up. I remember seeing one of the seedy run-down motels next to I-75 in Punta Gorda ( of the type we refer to as "no-tell motels") charging $200/night for a room. We paid $300 a night for the VRBO house we rented, and that could house more people than a motel room.
We are getting construction workers, and employees from the Hyundai plant that is being built.
There is a negative review for the house on my street. Strangely, the guy who stayed there let the tub overflow and cause ceiling damage, turned the AC down to 51, and left the front door wide open when he left. Then, he had the nerve to complain that the floor slanted. The review was in Korean, so maybe something was lost in translation.
The owner has made extensive repairs to the house, so it’s not ALL bad.
That sounds like the kind of thing that could well happen when a homeowner rents to strangers. Sounds like that renter caused more than his share of damage!
I'd expect the homeowner to make the needed repairs, and I'd think he'd have to expect to have to do so at times. Problem is, if the homeowner gets a string of renters, who cause damages repeatedly, I'd think having to make extensive repairs over and over again would get very old, and too expensive to be worth the money made from the rentals.
I think in the post-hurricane Ian situation, unless the companies just left their workers up to their own devices to find places to stay, including pitching tents anywhere they could find room, they turned to the STRs because the hotels and motels were completely full, with no vacancies for months on end. The rates they were charging were ridiculously high, as well, even if a vacancy or two came up. I remember seeing one of the seedy run-down motels next to I-75 in Punta Gorda ( of the type we refer to as "no-tell motels") charging $200/night for a room. We paid $300 a night for the VRBO house we rented, and that could house more people than a motel room.
Good points. Hadn't thought of that. That, and I'm sure if the STRs weren't locally-owned the owners really wouldn't care, if that, they would probably have a much higher occupancy rate!
That sounds like the kind of thing that could well happen when a homeowner rents to strangers. Sounds like that renter caused more than his share of damage!
I'd expect the homeowner to make the needed repairs, and I'd think he'd have to expect to have to do so at times. Problem is, if the homeowner gets a string of renters, who cause damages repeatedly, I'd think having to make extensive repairs over and over again would get very old, and too expensive to be worth the money made from the rentals.
That's one of the things people don't consider when turning a property into an STR - the wear and tear is greatly accelerated, in my opinion and those of the people I know who have STRs.
One that is next to my AZ house appears that it might be going off the STR market, as the couple who own it are remote owners, so everything they need done, they've got to pay someone. I'm sure there's a mortgage on the place, too, even though it's under an LLC. We've seen them around a lot lately, which is really odd, and they've been moving a lot of household goods in/out, too. We think they might be moving a family member into it.
Labor costs are really steep here (minimum wage is over $16.00, IIRC) so even a simple housecleaning can run into some serious bucks. Multiply that by maybe 26 weeks a year and it's a pretty significant expense.
Owning/operating an STR is not a means to print money, unless you do nearly everything yourself. Factor the value of your time and you're still unlikely to have a decent profit.
Interesting that compaines are using STRs for construction workers - I would think that they're more expensive than corporate rates at an extended stay motel, but then again, in areas like this there might not be many options.
The "Turn your (second?) home into a vacation rental and make BIG money!" stuff is a major-league scam. I don't believe there's any consideration for overhead, ike property management or cleaning services. If you're not managing the place yourself, which is a lot of work for a place that could turn over weekly, if not more often, you're paying someone to do it. That's coming right off the top.
RM
Cleaning fees are a separate charge to the renter. Not sure what property management charges are these days. Maybe 10%? If you are charging $500 a day, it’s still worth it.
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