This is for primarily for people in SF, LA, Tahoe, Nashville & New York.
We are done with construction and furnishing a new separate inlaw unit in our home in San Francisco. AirBnB sounds better to us than renting long term for multiple reasons, but the management aspect of it seems daunting because we work full time.
I’ve read a couple things about MyVRHost on this site, but not a lot. They charge 18% (on top of the 3% that AirBnB charges us) but they claim this long list of services (below) that makes it sound like our work is done:
· Marketing–listing property on 25+ booking platforms
· Dynamic pricing to maximize revenue and occupancy
· Responding to inquiries quickly–usually within 5-10 minutes
· Vetting and screening guests
· Key exchange
· Guest communication–24x7
· Emergency maintenance
· Expert cleaning and same-day turnover when needed
· A relentless focus on 5-star reviews
Has anyone had experience with this company or any other property management companies?
A few thoughts… first and foremost you have to get a permit to STR in SF and you will be limited to 90 days per year. Second, ABB has booted ‘multiple’ operates in SF iff the platform bc of the cities strict ‘one host one house’ rule. I would make sure that the management company is allowed to operate within the confines of the SF regulations.
Thanks, we have been doing some research.
We have an appointment with the Office of Short Term Rentals to register and realize we need a business license first. Because we live in the house we aren’t bound by the 90 days per year legislation. I’m not sure what you mean about the “one host, one house” rule; does that mean that ABB will not let you use their site if you use other sites as well?
In terms of the City, ABB is the only business that is authorized to collect the Transient Occupancy Tax, but you collect it on your own if using a different site.
MyVRHost started in SF and the representative stated that while they advertise on multiple sites, ABB is by far the leader.
Getting our feet wet…
If you rent any ‘entire unit’ ie your in law has its own entrance seperate from your house, you are bound by the 90 day rule. The 90 days rule doesnt apply to rooms in peoples houses. Im sure you can fudge if need be, but just be aware seperate entrance equals seperate unit. Also, there was some issues with in law units when the ‘law’ was first passed, that they wouldnt give permits or some nonsense
One host one house, basically means you can only have one listing in SF bc that is what the STR law dictates. Multiple operators and property managment companies have been kicked off the platform, in order to appease the city, for listinf multiple properties. I would ask whatever company you ate looking at how they circumvent that issue.
There is separate access, but also access from our home. I’ll check with MyVRHost about all the entrance issue, also about using multiple platforms.
Thanks for this specific information, it’s very helpful.
Make sure to do your own research. The fine for violating the STR requirments is $500+ per DAY. I wouldnt trust a prop mgmt company to be completely honest about listing rules, etc.