Every home I photograph that has a game room books well. Not just Arcades - pool, foosball, shuffleboard, darts, poker tables etc(all in one room). In fact I know a few property managers that have been converting 2/3 car garages into a game room/media room. Give it a nice paint job, cover any garage utilities, add a couch and lounge area (maybe a bar), Air conditioning and full game room. Amenities are the most important thing you can do to stand out from other properties. I was also just talking to some clients about JetSki rentals also! (Boat possibly as well). Be better than everyone around you.
Airbnb and VRBO aren't dead but the days of just throwing any old thing on there and making money are. You have to have the right property in the right place, decorated and outfitted correctly, professionally photographed, and have a killer listing. In the Smokies you have to have log cabins, at the beach you have to have an ocean view (if the insurance doesn't kill you). Putting a 3/2 ranch in a random cul de sac is a recipe for disaster.
I have full outdoor kitchens and bars at my properties. Grills connected to the gas of the house, hot/cold sinks, bar, covered patio with recessed lighting, and granite counter tops.Those help me standout big time and are another amenity worth considering.
gas scares me... accidents happen and even with short med or long term considered... I feel like net zero properties would have better roi in the long run and one less thing/risk to worry about...
My airbnb has a home gym. I picked that over making that room a theater. I was thinking, who goes out of town to sit in a dark room to watch tv? Not me. But gym people always want to work out.
Rob - My parents spent $10K on a mini putt putt as you called it. After folks play the 3-hole course once, most are over it--even bored by it. I previously kept a full set of Men's and Ladies' golf clubs at my VR for Guest use on nearby golf courses. The clubs were always left dirty in the bags and the balls constantly needed to be replaced. For these reasons alone, I would not be investing in any kind of miniature course. The greens themselves require more maintenance than meets the eye. Keeping them weed free is a constant chore. So, for me, the juice is not worth the squeeze. Note: I pulled the golf clubs after a Guest shattered one of my solar panels.
Ducks fly together!! About the jet skies. Please consider that the lifespan of a jet-ski is about 300 hours. If you get the 30 rentals, averaging at six hours per rental, in the first year, you will have burned over half the lifespan of your JetSki. You may only get two years out them before having to replace them.
I grew up riding jet skis but can’t for the life of me see how this is a good idea. I think a regular little fishing boat at a lake house would be just fine. Millions of people in the 50s have fond memories of basic, low-powered boats on lakes. More reliable as well.
The other thing that comes top of mind is many people have little to no experience driving or piloting a boat or watercraft of any type and that makes them likely to damage the watercraft, another watercraft, or property. I would walk around a few boat rental companies and look at their rental inventory and see how their rentals are holding up to also judge if this would be a finically good decsions. If you just want some jetskis, then go ahead and buy them because we can all reason ourselves into anything, so go ahead and have all the fun!
I've been amazed at people being attracted to what finish the living room upholstery is, and what kind of kitchen counters, etc. And the architecture? Those kind of descriptions are what most people dismiss, because it has nothing to do with vacations. Vacations are generally social. Give people a place they can cozy up to relatives, grandchildren, and don't sneak crazy cleaning instructions in for when it's time to go. If you go with those sneaky cleanup instructions (and they have your creditcard number) then you've identified yourself not as a warm, kind host, but as a shallow zombie who wants to spring a financial trap on people. When a lot of AirBnB hosts jumped on the cleaning penalty bandwagon, I could see that the whole thing was over.
Would love to know how you plan to manage the jet skis. I’ve thought about a boat at a lake house, but couldn’t get around how to maintain and prep prior to every rental. Like gas, engine work, clean up, repairs
I handle it a bit differently. I made a deal with a boat/jetski rental outfit. I own a marina on a different lake they wanted to expand their business to, and I own vacation homes at a popular lake destination where the boat/ski rental place is. Very long story short, he uses some of my slips at the marina to expand his business, in return he gives my STR customers a boat to use. He takes care of the boats, I bring him customers and moorage. My customers get a boat and moorage included in their rental at no extra charge, just part of the package.
@@MrHamlet That's exactly how we do it. We offer optional kayaks, Paddleboards and cruiser bikes at our beach front property by simply partnering with (or outsourcing to) local rental shops. They drop off, pick up and maintain them. We get a heavily discounted rate so the incremental cost to the renters is much lower than if they went directly to the rental shops.
Pool and integrated outdoor living space with BBQ, outdoor television, bluetooth speakers, and dining area. Huge impact on warm-climate rentals... desert or beachside.
Arcade wouldn’t be that expensive. Go to a local bar look at the jukebox dart board or ATM and see if there is a business sticker on it. Call that person. The arcade business got smoked by Covid. The owners of the machines probably have a lot in storage that are making them zero dollars. They would love to make ANY money on non active machines. See what they would want for a long term rental that would require the owners to stock and fix the machines. Crane games, racing, shooting, you could one hell of an arcade for not much.
Have you looked into the legality of a MAME arcade at an Airbnb? If you're not aware you can put thousands of games on one machine. You could have one curated ultimate arcade machine! Or maybe the best arcade games by decade and have separate machines for 80's, 90's, and 00's games to help them have a theme and not be too overwhelming.
Normally I would agree that most RUclipsrs blow hot air, but I think you missed this one. Amenities can help increase your bookings maybe even when you house is stale or boring.
Exactly 6 ideas in 20 minutes and most of them basic. I hope you have time to manage your str after watching all these videos. And Rob is that heart there to symbolize your love of wasting peoples time, that’s rhetorical.
@@grabruss Maybe you already knew these ideas but Rob's audience is pretty large and many benefit from them. He went into a fair amount of detail re: the tradeoffs of each idea, understanding your market to know which amenities are important, potential upside, and all in the usual Robuilt entertaining way. I mean what are you looking for
'Ammennities' questions (ie. not mentioned but should these be considered?): packnplay, high-chair, airbed, bikes, kayaks or paddelboards, chairs or beach stuff, high-end blender or espresso machine, local artisans goods (soap, food, art, decor), turo vehicle rental, airport pickup/drop-off svc fee, golf cart or scooter rental, natl/state park pass, mobile/tablet charging cables, office monitors, coolers or frozen ice packs, headlamps or flashlights, trekking poles or hiking gear, vacuums brooms or cleaning stuff??
Literally all of it. We only stay in small, neat, well-considered properties with virtually all of these things. No clue if these hosts are crushing, but they seem to have really high booking rates.
Rob is correct. You have to innovate and step up your game to make your product more attractive, and easier to find, among the sea of options out there. This is true no matter what business you're in, it's always roller coaster (windfall and busts). Look at technology companies for example. The smart ones will invest heavily in new ideas when the market is down on their current solutions, so they are prepared to ride the wave of the next thing. It wasn't that long ago that everyone said Hotels are dead because of AirBnBs. Now hotels are enjoying a resurgence because people are buckling down on costs. I know I am....I have several trips coming up and only one of them is a VRBO. AirBnB as a company needs to re-think their approach and figure out how they can provide a LOT more value, and this downturn is exactly the encouragement they need to make such a move.
I politely disagree. Going to the next level of architecture and floor coverings won't do it. Flexibility and easy cleanup will. Be flexible on timeslots, and don't look to make a killing on every rental. You'll get repeat customers and far more rented time vs. vacant time... be a more personable host, maybe more present and available for help, and less about rules. Of all the renting I've done, I can't remember one thing about living room fabrics or balanced architecture, I remember hosts who worked with us when a grandchild knocked over a lamp or when we couldn't get a blown circuit to reset. Rob's idea is more 'airbnb flavor', which the public has tired of.
@@someotherdude thanks for the response. I agree that those things also help a LOT, however IMHO I don't find they are the hook that brings them to my listings in the first place, but rather a benefit that may help bring them back. I think if all things being the same if a tenant sees my unit has less restrictions and less things they need to do (cleaning) they may chose my unit over another. The calendars for my "decorated" doors are more booked vs. the "normal" doors I have. Even in the same area. If you were booking a place, with everything being equal, would you take the decorated one vs. the plain Jane one? I sometimes wonder if parents with young children take the unit that looks like there are less things to break. Customer comments and feedback is key. In my anecdotal experience, promoters (aka positive comments) are almost always about: -look/feel -things to do (pool, golf, hottub, food, activities at or very close to unit) -sometimes ease of transaction/engagement with me. But that's usually in combination with other things. My detractors (neg comments) are typically about: -something that broke (stupid BBQ) -something they couldn't figure out (like wifi, hot tub, HVAC, etc.) -Negative exchange with staff, AirBNB, other guests/neighbors -Weather (always surprised by this one) -And not getting a discount because of issues above. Once in a blue moon I get a complaint about cleanliness when I don't get the regular cleaning folks or they had an off-day. Again just my personal experience and opinion; everyone is different for sure. I found that what Rob is saying struck true for me in places where STRs are more common and I wanted to stick out. Thanks for your respectful thoughts though....always awesome to hear from others and understand different pain points/successes.
May i also say that to me, im looking for the foundations: cleanliness is number one. Proper maintenance of the property. I also want the value that i receive to meet or even exceed the investment. We recently stayed in many properties on a trip, and one was very expensive. We had high hopes and expectations and needless to say, it didnt come close to meeting them. In other words, the value we received didnt match our financial investment. I think a frame like this can be very helpful for airbnb hosts.
I love Rob and his videos, but he has a heavy capital investment approach. ------ What about cheaper partnership approaches. Like having the jet ski company supply and maintain the equipment and you charge 30% over jet ski rental price to make that extra cash. ------- Also the arcade games you can get from the supplier or game distributor and they take care of maintenance for free.
Hey Rob its me again. The guy that talked to you about boats and what not on insta. So you are going the separate company route instead of including it in the price? What made you choose that over just upping the cost of the listing itself? Insurance will cover the liability for that part since its a part of the property owned by the LLC same with umbrella insurance. I would argue that most of those costs are about 3x from what I have seen. Also for your theater go with a laser TV instead of a 85inch. You get up to 160inch for the price of an 85inch oled tv in a dedicated room its more than bright enough.
It’s pretty simple really. Can you beat a hotel that provides a fridge, microwave, coffee maker, offers free breakfast, has no cleaning fees and treats you like an appreciated customer instead of the enemy? Do that and you’ll be full all the time. My wife and I go on at least three trips per year to destinations that we want to go to. We put places on our bucket list. We do not put accommodations on our bucket list. Since 2019 we’ve look at Airbnb for every trip. And since 2019 we’ve stayed at hotels for every trip.
Love your videos. Overall, I think AirBnbs are such a desperate investment for people who are just getting into RE investing. Airbnbs as an investment is so vulnerable and is susceptible to way too much that's outside of the investor's control: pop trends, economy, and God knows what else. SFH investing for me all the way. Slow gains, but predictable.
@@DanielRemigaylo “airbnb” is a marketplace. Any asset can be used to rent from short term nightly to weekly to monthly to long term. IMHO STR is 3-5x and MTR is 2x of a LTR. Yet you have to look at your bottom line across YOUR portfolio to see your best use for your asset (SFH, apt, boutique hotel, large vacation villa etc)
My point is that the STR game is very short-sighted, and you have way less control over STR than you do LTR. You CAN make 4-5 times more yes, but you can also have a vacant house for MANY months due to pop trends, economy etc... And any new STR owners who bought post 2020 probably can't even afford to convert their property into a LTR due to the incredibly high mortgages on the house they overpaid for. They can probably barely make a profit let alone cover the cost of their mortgage. Again - very short sighted investment. Chasing a bag in the short term while jeopardizing their long-term success.@@DanielRemigaylo
Rob, what do you do with your thermostat in Houston area? I get people trying to run it to 60 when it's 105 outside... I had to lock it at 68 so it wouldn't damage system, but it can't even hit that during the day. My HVAC guy said it's working perfectly... It's just Houston.
Lol ducks fly togather we have seen a decline from 90% down to 46% on our timy house that we have listed. Its off grid and guest ruined our batteries so costs went through the roof this year. We are woking on marketing. But hay we cant add a hot tub there.
@@emeeul so we had lead acid batteries and all the smoke from Canada dropped our solar input by 50% . So basically guest were able to drain the batteries below 50% and on lead acids that kills the batteries. How we are mitigating it is we are going with lithium as lithium can handle deeper discharge without damage. And if I lit the charge to 90% and set the min to 10% the batteries should last 20 years. But this also has the added cost of you need to heat the batteries before you can charge them when it's below zero. So my solution for that is an insulated battery box with a small amount of heat tape around the battery packs. I will have videos on this later on this fall
20k for a pickleball court sounds more fun than the 10k I just spent to improve a steep driveway. It has been a slow year, and these large capital expenditures hurt more than they used to!
Absolutely love the jet ski idea! I’m in Saint Pete Florida, about 6 minutes from the water. Do you think I could benefit from that? Or it’s directed to people directly on the water?
Hey Rob. I just put in a couple of arcades in my short term rentals in my cabins in Lakeside, Arizona. People like them. I have a contact for you in Arizona for some arcade cabinets with 3000 games for around $1200. Let me know if you want the contact. Also, I appreciated the research done on hot tubs and mini golf. I think I’m going to add a couple of hot tubs to my properties in Costa Rica and the mini golf to one of them. Also, I’m buying my third property in Costa Rica and I’m still looking for a couple of partners, so let’s chat if you’re interested in having a property and Costa Rica.
All well and good but at the end of the day the old saying reigns supreme (especially now that things have come back down to earth)…”location location location “ and I’ll add “consistency” to that. Consistently provide a great service for slightly less then your competitors and you’ll be fine … imo more amenities outside the norm just lead to more problems. Who wants a call at 11pm from a guest saying “we can only find one racket for the pickle ball court” then proceed to give you a 3 star review …my only 3 star review was from a guest complaint that the bed was “too soft” ! I’d rather a potential guest see that type of a bad review then a busted amenity that they’re paying extra for
Wow - I hate to say it, but this screams panic. Renting JetSkis for a profit - are you kidding me? 2 Jetskis that will be ready for rental use for $15K - lol, good luck with that. Report back on this in a year - not gonna be pretty I am afraid. I agree things are different and you do need to make sure you invest - but this is craziness!
I huge fan, thanks Rob. Irish Paul renting out in Helsinki. My penthouse and experiences. If your guests want to play pickle ball with other neighbors... So you have a tool for that?.. If no. If not I'd love to see if I can help add a social experience to your listings... 🥂🍀🐥
Easily arcade! Less liability and appeals to more crowds/will show up better in pics. In one of my properties I've added to yoga mats with 5 pound dumbbells. Nice touch
City councils all across the country are starting to outlaw AirBnBs in their cities. The neighbors don't typically appreciate having a new batch of strangers making a bunch of noise in their neighborhoods every weekend. Plus, in most cities, the AirBnBs are already illegal if you look at the regulations that aren't being enforced. For example, in my city, transient lodging (which includes AirBnBs) buildings requires a sprinkler system. When was the last time you saw an AirBnB that had a sprinkler system? How much would that cost to retrofit the average AirBnB? $100,000+? Then, there's the zoning. AirBnB is a commercial use of the property. Technically speaking, many localities zoning ordinances already make it illegal to use your house for AirBnB based on that alone. Since there is a housing shortage, I'm pretty confident AirBnB hosts won't be garnering the sympathy of the locals anytime soon... Also, your hair looks really stupid.
@@joelwillis2043 Do you own an airbnb or are you just trolling this site for people that own them? Just a question; seems I do have an active interest in the content.
@@77TadamsHe has a point though. I live in Tempe, Arizona, walking distance to ASU and a beautiful river front. The neighbors around an Airbnb three blocks from my house have put up signs in their yards putting any guests at that Airbnb on notice that they are being watched and are unwelcome. Too many parties lasting through the night with music blaring, and last year an actual gun fight that spilled out onto the street in front of the Airbnb house.
i haven't booked an airbnb in years, and i make sure i tell everyone i know that airbnb is no longer what it once was. mostly because of cheap, small businesses looking to turn a small profit that plague airbnb
Half our stays this summer were airbnbs, as it has been for a decade. Destination stays with the amenities we want are still our top reason for choosing them, and will remain so for the foreseeable future.
@@emeeul to each their own. i can't justify spending 2-300 a night when i can do the same at a 5 star hotel that can provide better service and benefit from the higher economy of scale. the cries that reservations are drastically down from airbnb owners across the platform speak for themselves
@@euko7469 Sure. For an urban experience I’m looking at that type of service. For most of our AirBnB stays, we want kayaks, a hot tub, ping pong, bicycles, an outdoor shower, etc. in other words, adult summer camp and not places I go for a work conference and ordering room service. We value staying within communities and meeting residents for these stays.
freaky the timing of this video but relevant to the market so makes since, my home which i rent out has a pool and while the market goes up and down my bookings stay constant because i have the pool families just want a nice vaca in Florida so i dont have to worry or compete with houses that dont have pools. in July i brought in 8 grand my expense are about 2500 per month so year it pays to have a pool atleast here in Florida.
Every home I photograph that has a game room books well. Not just Arcades - pool, foosball, shuffleboard, darts, poker tables etc(all in one room). In fact I know a few property managers that have been converting 2/3 car garages into a game room/media room. Give it a nice paint job, cover any garage utilities, add a couch and lounge area (maybe a bar), Air conditioning and full game room. Amenities are the most important thing you can do to stand out from other properties. I was also just talking to some clients about JetSki rentals also! (Boat possibly as well). Be better than everyone around you.
Airbnb and VRBO aren't dead but the days of just throwing any old thing on there and making money are. You have to have the right property in the right place, decorated and outfitted correctly, professionally photographed, and have a killer listing. In the Smokies you have to have log cabins, at the beach you have to have an ocean view (if the insurance doesn't kill you). Putting a 3/2 ranch in a random cul de sac is a recipe for disaster.
doing well near the beach , just 5 minute walk there. The house with inground pool is much more in demand then pet friendly house without pool
I have full outdoor kitchens and bars at my properties. Grills connected to the gas of the house, hot/cold sinks, bar, covered patio with recessed lighting, and granite counter tops.Those help me standout big time and are another amenity worth considering.
I like the way you think. We are you located?
In my experience, outdoor kitchens are mice condos. I hope you clean yours regularly.
I bet you have your calendar fully booked
gas scares me... accidents happen and even with short med or long term considered... I feel like net zero properties would have better roi in the long run and one less thing/risk to worry about...
So I guess we are entering the declining stage of Airbnb where adding put put is what it takes to save your business?
My airbnb has a home gym. I picked that over making that room a theater. I was thinking, who goes out of town to sit in a dark room to watch tv? Not me. But gym people always want to work out.
Rob - My parents spent $10K on a mini putt putt as you called it. After folks play the 3-hole course once, most are over it--even bored by it.
I previously kept a full set of Men's and Ladies' golf clubs at my VR for Guest use on nearby golf courses. The clubs were always left dirty in the bags and the balls constantly needed to be replaced.
For these reasons alone, I would not be investing in any kind of miniature course. The greens themselves require more maintenance than meets the eye. Keeping them weed free is a constant chore. So, for me, the juice is not worth the squeeze.
Note: I pulled the golf clubs after a Guest shattered one of my solar panels.
Sorry your parents wasted their money based on rob's advise.
@@SuperApe3030 For the Record: My parents put in their mini putt putt years ago. However, I thank you for your empathy.
Ducks fly together!!
About the jet skies. Please consider that the lifespan of a jet-ski is about 300 hours. If you get the 30 rentals, averaging at six hours per rental, in the first year, you will have burned over half the lifespan of your JetSki. You may only get two years out them before having to replace them.
I grew up riding jet skis but can’t for the life of me see how this is a good idea. I think a regular little fishing boat at a lake house would be just fine. Millions of people in the 50s have fond memories of basic, low-powered boats on lakes. More reliable as well.
The other thing that comes top of mind is many people have little to no experience driving or piloting a boat or watercraft of any type and that makes them likely to damage the watercraft, another watercraft, or property. I would walk around a few boat rental companies and look at their rental inventory and see how their rentals are holding up to also judge if this would be a finically good decsions.
If you just want some jetskis, then go ahead and buy them because we can all reason ourselves into anything, so go ahead and have all the fun!
@@emeeul He should get a kayak. Jet skis are not fun to own.
Paddle boards and hummus, are the waves of the future. You should already know this.
So basically your making your airbnb a destination not just a place to sleep.
It sounds like he's making it a destination within a destination--standing out from the crowd.
I've been amazed at people being attracted to what finish the living room upholstery is, and what kind of kitchen counters, etc. And the architecture?
Those kind of descriptions are what most people dismiss, because it has nothing to do with vacations. Vacations are generally social. Give people a place they can cozy up to relatives, grandchildren, and don't sneak crazy cleaning instructions in for when it's time to go.
If you go with those sneaky cleanup instructions (and they have your creditcard number) then you've identified yourself not as a warm, kind host, but as a shallow zombie who wants to spring a financial trap on people. When a lot of AirBnB hosts jumped on the cleaning penalty bandwagon, I could see that the whole thing was over.
Would love to know how you plan to manage the jet skis. I’ve thought about a boat at a lake house, but couldn’t get around how to maintain and prep prior to every rental. Like gas, engine work, clean up, repairs
I handle it a bit differently. I made a deal with a boat/jetski rental outfit. I own a marina on a different lake they wanted to expand their business to, and I own vacation homes at a popular lake destination where the boat/ski rental place is. Very long story short, he uses some of my slips at the marina to expand his business, in return he gives my STR customers a boat to use.
He takes care of the boats, I bring him customers and moorage. My customers get a boat and moorage included in their rental at no extra charge, just part of the package.
@@MrHamletthat was my thought. Also the arcade games you can get from the supplier or game distributor and they take care of maintenance for free.
@@MrHamlet That's exactly how we do it. We offer optional kayaks, Paddleboards and cruiser bikes at our beach front property by simply partnering with (or outsourcing to) local rental shops. They drop off, pick up and maintain them. We get a heavily discounted rate so the incremental cost to the renters is much lower than if they went directly to the rental shops.
Pool and integrated outdoor living space with BBQ, outdoor television, bluetooth speakers, and dining area. Huge impact on warm-climate rentals... desert or beachside.
Arcade wouldn’t be that expensive. Go to a local bar look at the jukebox dart board or ATM and see if there is a business sticker on it. Call that person. The arcade business got smoked by Covid. The owners of the machines probably have a lot in storage that are making them zero dollars. They would love to make ANY money on non active machines. See what they would want for a long term rental that would require the owners to stock and fix the machines. Crane games, racing, shooting, you could one hell of an arcade for not much.
May want to try 2 and 4hrs jetski rentals. Not sure if I would want to ride a jetski for 8hrs
No way. Too much of a liability. People are dumb asses.
I just sold mine. 1 hour is a lot.
Have you looked into the legality of a MAME arcade at an Airbnb? If you're not aware you can put thousands of games on one machine. You could have one curated ultimate arcade machine! Or maybe the best arcade games by decade and have separate machines for 80's, 90's, and 00's games to help them have a theme and not be too overwhelming.
This guy has mastered the art of saying a lot of words while telling you very little.
Maybe you didn’t watch it. He said that amenities are what makes Airbnb’s stand out against their competition and then listed 6 amenity ideas.
Normally I would agree that most RUclipsrs blow hot air, but I think you missed this one. Amenities can help increase your bookings maybe even when you house is stale or boring.
Exactly 6 ideas in 20 minutes and most of them basic. I hope you have time to manage your str after watching all these videos. And Rob is that heart there to symbolize your love of wasting peoples time, that’s rhetorical.
@@grabruss Don't watch then lol, its an entertaining RUclips video with some decent advice, not a paid Udemy course.
@@grabruss Maybe you already knew these ideas but Rob's audience is pretty large and many benefit from them. He went into a fair amount of detail re: the tradeoffs of each idea, understanding your market to know which amenities are important, potential upside, and all in the usual Robuilt entertaining way. I mean what are you looking for
'Ammennities' questions (ie. not mentioned but should these be considered?): packnplay, high-chair, airbed, bikes, kayaks or paddelboards, chairs or beach stuff, high-end blender or espresso machine, local artisans goods (soap, food, art, decor), turo vehicle rental, airport pickup/drop-off svc fee, golf cart or scooter rental, natl/state park pass, mobile/tablet charging cables, office monitors, coolers or frozen ice packs, headlamps or flashlights, trekking poles or hiking gear, vacuums brooms or cleaning stuff??
Literally all of it. We only stay in small, neat, well-considered properties with virtually all of these things. No clue if these hosts are crushing, but they seem to have really high booking rates.
Rob is correct. You have to innovate and step up your game to make your product more attractive, and easier to find, among the sea of options out there. This is true no matter what business you're in, it's always roller coaster (windfall and busts). Look at technology companies for example. The smart ones will invest heavily in new ideas when the market is down on their current solutions, so they are prepared to ride the wave of the next thing.
It wasn't that long ago that everyone said Hotels are dead because of AirBnBs. Now hotels are enjoying a resurgence because people are buckling down on costs. I know I am....I have several trips coming up and only one of them is a VRBO. AirBnB as a company needs to re-think their approach and figure out how they can provide a LOT more value, and this downturn is exactly the encouragement they need to make such a move.
Great analysis!
I politely disagree. Going to the next level of architecture and floor coverings won't do it. Flexibility and easy cleanup will.
Be flexible on timeslots, and don't look to make a killing on every rental. You'll get repeat customers and far more rented time vs. vacant time... be a more personable host, maybe more present and available for help, and less about rules. Of all the renting I've done, I can't remember one thing about living room fabrics or balanced architecture, I remember hosts who worked with us when a grandchild knocked over a lamp or when we couldn't get a blown circuit to reset.
Rob's idea is more 'airbnb flavor', which the public has tired of.
@@someotherdude thanks for the response. I agree that those things also help a LOT, however IMHO I don't find they are the hook that brings them to my listings in the first place, but rather a benefit that may help bring them back. I think if all things being the same if a tenant sees my unit has less restrictions and less things they need to do (cleaning) they may chose my unit over another.
The calendars for my "decorated" doors are more booked vs. the "normal" doors I have. Even in the same area. If you were booking a place, with everything being equal, would you take the decorated one vs. the plain Jane one? I sometimes wonder if parents with young children take the unit that looks like there are less things to break.
Customer comments and feedback is key. In my anecdotal experience, promoters (aka positive comments) are almost always about:
-look/feel
-things to do (pool, golf, hottub, food, activities at or very close to unit)
-sometimes ease of transaction/engagement with me. But that's usually in combination with other things.
My detractors (neg comments) are typically about:
-something that broke (stupid BBQ)
-something they couldn't figure out (like wifi, hot tub, HVAC, etc.)
-Negative exchange with staff, AirBNB, other guests/neighbors
-Weather (always surprised by this one)
-And not getting a discount because of issues above.
Once in a blue moon I get a complaint about cleanliness when I don't get the regular cleaning folks or they had an off-day.
Again just my personal experience and opinion; everyone is different for sure. I found that what Rob is saying struck true for me in places where STRs are more common and I wanted to stick out.
Thanks for your respectful thoughts though....always awesome to hear from others and understand different pain points/successes.
May i also say that to me, im looking for the foundations: cleanliness is number one. Proper maintenance of the property. I also want the value that i receive to meet or even exceed the investment. We recently stayed in many properties on a trip, and one was very expensive. We had high hopes and expectations and needless to say, it didnt come close to meeting them. In other words, the value we received didnt match our financial investment. I think a frame like this can be very helpful for airbnb hosts.
I would bet that this guy makes more money off of RUclips groupies than on his str’s.
OMG! Ducks Fly Together! Such a good point! I need to network more with other Airbnbrs in my area! Love it!
Ducks Fly Together Caleb, now where's my chipotle?
Fast forward two years and these things will be the essentials.
I love Rob and his videos, but he has a heavy capital investment approach. ------ What about cheaper partnership approaches. Like having the jet ski company supply and maintain the equipment and you charge 30% over jet ski rental price to make that extra cash. ------- Also the arcade games you can get from the supplier or game distributor and they take care of maintenance for free.
Hey Rob its me again. The guy that talked to you about boats and what not on insta. So you are going the separate company route instead of including it in the price? What made you choose that over just upping the cost of the listing itself? Insurance will cover the liability for that part since its a part of the property owned by the LLC same with umbrella insurance. I would argue that most of those costs are about 3x from what I have seen. Also for your theater go with a laser TV instead of a 85inch. You get up to 160inch for the price of an 85inch oled tv in a dedicated room its more than bright enough.
If you are concerned about the upkeep of an arcade, then you’ve never owned a jet ski.
It’s pretty simple really. Can you beat a hotel that provides a fridge, microwave, coffee maker, offers free breakfast, has no cleaning fees and treats you like an appreciated customer instead of the enemy?
Do that and you’ll be full all the time.
My wife and I go on at least three trips per year to destinations that we want to go to. We put places on our bucket list. We do not put accommodations on our bucket list. Since 2019 we’ve look at Airbnb for every trip. And since 2019 we’ve stayed at hotels for every trip.
Love your videos. Overall, I think AirBnbs are such a desperate investment for people who are just getting into RE investing. Airbnbs as an investment is so vulnerable and is susceptible to way too much that's outside of the investor's control: pop trends, economy, and God knows what else. SFH investing for me all the way. Slow gains, but predictable.
Yea because social media influencers made it into a "get rich quick" scheme, when for us OG investors this was our secret goldmine
So airbnbs are not SFH ???? LTR is plan B for any STR however the returns are 4-5 times the LTR
@@DanielRemigaylo “airbnb” is a marketplace. Any asset can be used to rent from short term nightly to weekly to monthly to long term. IMHO STR is 3-5x and MTR is 2x of a LTR. Yet you have to look at your bottom line across YOUR portfolio to see your best use for your asset (SFH, apt, boutique hotel, large vacation villa etc)
My point is that the STR game is very short-sighted, and you have way less control over STR than you do LTR. You CAN make 4-5 times more yes, but you can also have a vacant house for MANY months due to pop trends, economy etc... And any new STR owners who bought post 2020 probably can't even afford to convert their property into a LTR due to the incredibly high mortgages on the house they overpaid for. They can probably barely make a profit let alone cover the cost of their mortgage. Again - very short sighted investment. Chasing a bag in the short term while jeopardizing their long-term success.@@DanielRemigaylo
"Ducks fly together" and now I want a pillow burrito.
Lol jetski rentals. What could go wrong... I would be really surprised if Rob has more than a 1m umbrella as is.
Rob, are you renting out golf carts at Crystal Beach as well? I have family that lives there and they seem to be a must.
Ducks Fly Together…. Thanks for the laugh man that was funny!
Rob, what do you do with your thermostat in Houston area? I get people trying to run it to 60 when it's 105 outside... I had to lock it at 68 so it wouldn't damage system, but it can't even hit that during the day. My HVAC guy said it's working perfectly... It's just Houston.
Same in Florida. Everyone thinks it’s broken. Plus or minus 20
I dunno, don't rent it out in summer in a hellhole like Houston?
Get more insulation
Love your videos. They crack me up!
Lol ducks fly togather we have seen a decline from 90% down to 46% on our timy house that we have listed. Its off grid and guest ruined our batteries so costs went through the roof this year. We are woking on marketing. But hay we cant add a hot tub there.
How did they kill them and what’s your strategy for mitigating that challenge?
@@emeeul so we had lead acid batteries and all the smoke from Canada dropped our solar input by 50% . So basically guest were able to drain the batteries below 50% and on lead acids that kills the batteries. How we are mitigating it is we are going with lithium as lithium can handle deeper discharge without damage. And if I lit the charge to 90% and set the min to 10% the batteries should last 20 years. But this also has the added cost of you need to heat the batteries before you can charge them when it's below zero. So my solution for that is an insulated battery box with a small amount of heat tape around the battery packs. I will have videos on this later on this fall
20k for a pickleball court sounds more fun than the 10k I just spent to improve a steep driveway. It has been a slow year, and these large capital expenditures hurt more than they used to!
Hot tub! I have added a secret game room and a secret speakeasy at two of my places. They are tons of fun. Both of them have electronic arcade games.
This sounds awesome!
should add Cold Plunges to your listings, just buy a steel horse tub and some ice and you're good to go
Ducks Fly Together 😂
Absolutely love the jet ski idea! I’m in Saint Pete Florida, about 6 minutes from the water. Do you think I could benefit from that? Or it’s directed to people directly on the water?
Amenities are definitely a solid way to stand out! Great vid rob!
The LIABILITY! 🤣 Great amenities tips and great job singing "the final amenity"
Hey Rob. I just put in a couple of arcades in my short term rentals in my cabins in Lakeside, Arizona. People like them. I have a contact for you in Arizona for some arcade cabinets with 3000 games for around $1200. Let me know if you want the contact. Also, I appreciated the research done on hot tubs and mini golf. I think I’m going to add a couple of hot tubs to my properties in Costa Rica and the mini golf to one of them. Also, I’m buying my third property in Costa Rica and I’m still looking for a couple of partners, so let’s chat if you’re interested in having a property and Costa Rica.
Hii, I have been thinking to add arcade in my Scottsdale Airbnb, would be interested to get your referral 😊
I had been looking at arcade games. An NBA Jam arcade game from best buy is only $700.
Jet skis are a straight up nightmare. I just sold mine.
Ducks fly together! Putting that up that list on the wall of my property 😂
So cool. I just told my wife I wanted to add a putting green.
Speaking of liability. What do you think about a home gym with stairmaster and nordic track fusion cst
My airbnb has a home gym. I picked that over making that room a theater.
Great analysis, agree. You have to recalibrate and understand the changes in the market.
Hi Rob, do you recommend LLC for rental properties?
All well and good but at the end of the day the old saying reigns supreme (especially now that things have come back down to earth)…”location location location “ and I’ll add “consistency” to that. Consistently provide a great service for slightly less then your competitors and you’ll be fine … imo more amenities outside the norm just lead to more problems. Who wants a call at 11pm from a guest saying “we can only find one racket for the pickle ball court” then proceed to give you a 3 star review …my only 3 star review was from a guest complaint that the bed was “too soft” ! I’d rather a potential guest see that type of a bad review then a busted amenity that they’re paying extra for
Wow - I hate to say it, but this screams panic. Renting JetSkis for a profit - are you kidding me? 2 Jetskis that will be ready for rental use for $15K - lol, good luck with that. Report back on this in a year - not gonna be pretty I am afraid. I agree things are different and you do need to make sure you invest - but this is craziness!
Not sure where this is coming from as my Airbnb is constantly booked. Maybe that’s the situation for him but not for everybody
What do you think about an electric car charger? Our place is in Fort Lauderdale. Thank you! Anna
I just booked an airbnb in Yellowstone and got 1 with a Tesla charger. It sealed the deal for me
Great tips and ideas.
I feel like 60% of my bookings have pets. We didn't want to either but here we are.
Make sure your jet ski riders where neoprene shorts! And maybe pay a mechanic to build in a speed cap.
Uhhhh… maybe I missed this… what’s with the “ducks fly together”? Someone please illuminate me.
I huge fan, thanks Rob. Irish Paul renting out in Helsinki. My penthouse and experiences.
If your guests want to play pickle ball with other neighbors... So you have a tool for that?.. If no. If not I'd love to see if I can help add a social experience to your listings... 🥂🍀🐥
Sori my typos 🤙
Ducks Fly Together! Killer advice!
When are you stopping by DC??
Any thoughts on a home gym? I’m debating whether to add a gym or an arcade but can’t decide.
Easily arcade! Less liability and appeals to more crowds/will show up better in pics. In one of my properties I've added to yoga mats with 5 pound dumbbells. Nice touch
@@GetItWithBecca I did the gym, and i think he is right I may change to arcade
I have a tredmill in mine and its always used along with the yoga mats. some guests use the tredmill everyday
What do you think about the hosts that are in HOAs and being more heavily regulated? Is that helping reduce inventory?
Ducks fly together 😂
Do underground hot tubs have less breakdowns than above ones? 🤔
Hosts I've seen request additional payment to use hot tub for heating costs.
Ducks fly together 😂
Ducks fly together.
I'm surprised EV chargers weren't on the list.
Ducks fly together
Ducks Fly Together
Any thoughts on gyms?
Ducks fly together! Flying-V!!!
DUCKS FLY TOGETHER🦆🦆🦆🦆🦆🦆
Ducks fly together Rob.
We added a bidet and increased revenue by $32,000 in 2023!
not sure about jet skis those things break all the time.
Ducks that fly together, die together... or something like that?
City councils all across the country are starting to outlaw AirBnBs in their cities. The neighbors don't typically appreciate having a new batch of strangers making a bunch of noise in their neighborhoods every weekend. Plus, in most cities, the AirBnBs are already illegal if you look at the regulations that aren't being enforced. For example, in my city, transient lodging (which includes AirBnBs) buildings requires a sprinkler system. When was the last time you saw an AirBnB that had a sprinkler system? How much would that cost to retrofit the average AirBnB? $100,000+? Then, there's the zoning. AirBnB is a commercial use of the property. Technically speaking, many localities zoning ordinances already make it illegal to use your house for AirBnB based on that alone. Since there is a housing shortage, I'm pretty confident AirBnB hosts won't be garnering the sympathy of the locals anytime soon... Also, your hair looks really stupid.
😂 as you don’t have airbnbs we laugh all the way to the bank😂 you need a hobby bro.
@@77Tadams is your hobby posting ad hominens to strangers in YT comment? YIKES
@@joelwillis2043 Do you own an airbnb or are you just trolling this site for people that own them? Just a question; seems I do have an active interest in the content.
@@joelwillis2043 what is a hominen? Never heard of it.
@@77TadamsHe has a point though. I live in Tempe, Arizona, walking distance to ASU and a beautiful river front. The neighbors around an Airbnb three blocks from my house have put up signs in their yards putting any guests at that Airbnb on notice that they are being watched and are unwelcome. Too many parties lasting through the night with music blaring, and last year an actual gun fight that spilled out onto the street in front of the Airbnb house.
DUCKS FLY TOGETHER
Can you recommend hot tub brands and types?
Ducks do in fact fly
Got me with the title
(Mighty) Ducks fly together
Ducks fly together 🦆
Why not just build an amusement park?😂
i haven't booked an airbnb in years, and i make sure i tell everyone i know that airbnb is no longer what it once was. mostly because of cheap, small businesses looking to turn a small profit that plague airbnb
Half our stays this summer were airbnbs, as it has been for a decade. Destination stays with the amenities we want are still our top reason for choosing them, and will remain so for the foreseeable future.
@@emeeul to each their own. i can't justify spending 2-300 a night when i can do the same at a 5 star hotel that can provide better service and benefit from the higher economy of scale. the cries that reservations are drastically down from airbnb owners across the platform speak for themselves
@@euko7469 Sure. For an urban experience I’m looking at that type of service. For most of our AirBnB stays, we want kayaks, a hot tub, ping pong, bicycles, an outdoor shower, etc. in other words, adult summer camp and not places I go for a work conference and ordering room service. We value staying within communities and meeting residents for these stays.
@@euko7469 If you don't have a large group, a hotel is better.
@@emeeulThe residents probably dread seeing and talking to you and want the Airbnb out of their community. 😂
Ducks fly together!
MINIPUTT WTF LOL?
ducks fly together
A whole huge county with lake and mountains where I live all but eliminated it
Where is that, if you don’t mind?
I'm an Arizona local, 99% of the pickleball courts are in the retirement communities (we vie for #1 retirement state with Florida every year). 🥒🏓 LOL
🦆🦆🦆🦆💨 fly together.
Axe throwing
Ducks Fly Togther...
Ducks fly together! #quakquak
freaky the timing of this video but relevant to the market so makes since, my home which i rent out has a pool and while the market goes up and down my bookings stay constant because i have the pool families just want a nice vaca in Florida so i dont have to worry or compete with houses that dont have pools. in July i brought in 8 grand my expense are about 2500 per month so year it pays to have a pool atleast here in Florida.
newspaper fraud :)
King of whataboutism... 😲🤔
Ducks fly together.
Ducks fly together