Hard to imagine that my wife and I have joined the ranks of becoming a mom and pop operation. Wasn’t that a thing of the past? Ma and Pa Kettle (for those of you who remember) LOL
In either case, one of a few of the ongoing concerns my wife and I have with running and hosting a BNB is:
When can we take a vacation?
I know there’s several hosts or property managers who run several listings as their business model. We can only imagine running one. I know hosts are encouraged to find partners to co-host, but we haven’t gotten there yet, though we have friends who host their own listings.
While it’s nice to have some of the unique advantages of running BNB that I’ve written about before (8 Reasons), it could get overwhelming multiplying that by 2x or more. Moreover, the inherent uncertainty of keeping the vacancies low can be a burden if you really need the income to pay all the bills. If you do happen to have more than one rental, having one on a lease would certainly help reduce the uncertainty in the traditional way.
Aside from the fact that our listing is bringing in needed income in a place like Silicon Valley, one of the most expensively taxed places in the world, especially in Palo Alto (many people need the extra income just to pay their property taxes, much less the mortgage) the thought actually occurs to us that it is hard to let others run your business for you.
First of all, we’re not aware of too many people who would like to jump in an help us run our business and if they did, we’re wouldn’t be so confident they would take the same level of care an responsibility of the business, for each guest and for the care of the house. We’d have to hand pick some people who are willing to jump in an help on occasion.
I realize there’s a certain amount of ego involved, and I haven’t reached the obligatory point of dire necessity yet, but it’s also really is a nice thing to receive a positive feedback from others on a regular basis and that helps make our listing attractive when new guests can be encouraged by good reviews on our listing.
The Airbnb system that allows for publicly presented positive feedback. It’s one of the attractions I also discovered from my two-month experience being a LYFT driver – if you are good, people let you know, you can feed on that and new customers can make more of an informed choice.
I apologize to all the truly great property managers out there, but when you’ve created a baby, it’s hard to let others take control.
We’ll see, we haven’t figured out how we’re going to afford and take off to see rabbits in Japan, take the kids to D.C., or even visit friends near Seattle or Denver, Italy, or wherever?
When you’re a host, your cell phone is never off. Can you imagine flying across the ocean without being able to field your messages from guests? Yeh, gotta fix this problem….
The first thing to do is start compiling a list of people you know who may want to learn and who you think would be good at being a co-host.
I’ll let you know how things go…
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