RightWingConspirator said:

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Thank you for this post. You may have just dissuaded me from considering Ruidoso. That sounds horrible. I assume the "problem area" you referred to are for renters just south of the border. Am I wrong?

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Spending a day in Ruidoso makes me love Cloudcroft even more.

One good thing about NM is the property taxes. But making money with these interest rates is gonna be tough. If you can handle the neutral or negative cash flow, maybe you can make decent money on appreciation.

Called it. I've never seen adverts for individual short term rentals like this. Ironically, this came to one of my airbnbs. Now's not a good time to enter the STR space y'all.

My parents own a house in Ruidoso that was previously used as a short term rental. They had to redo every floor in the house when they bought it, and had to repair some other plumbing issues (as well as deck repairs).

They chose not to use it as a rental, and only for family because of the type of renters you get in Ruidoso. A lot fo college kids look for places they can rent and cram 15-20 people in over spring break and the summers (hell, I spent a spring break in Ruidoso with 15ish other people in a 4 bedroom house).

Medaggie said:

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I would never manage a STR even if it was down the street. This is essentially a job. Internet not working, supplies missing, cleaners forgetting, broken stuff, ice maker not working, toilet clogged, disposal clogged, towels missing, etc..... You have to check on the place before and after cleaners. Just alot of turn arounds.

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do you honestly think property managers are doing this?

Diggity said:

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Medaggie said:

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I would never manage a STR even if it was down the street. This is essentially a job. Internet not working, supplies missing, cleaners forgetting, broken stuff, ice maker not working, toilet clogged, disposal clogged, towels missing, etc..... You have to check on the place before and after cleaners. Just alot of turn arounds.

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do you honestly think property managers are doing this?

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Just use Turno and make your cleaners take pics with their smartphones of the space.

Also, to those complaining about "a rental for 6 and 14 show up." There is a very very very simple solution. Airbnb makes the booking guest agree to YOUR rental agreement. Thus you put language like $100 per guest beyond the maximum occupancy (or the agreed number of guests). Then you use your exterior camera to document the number of guests they allow into your property.

Wish them well, start a ticket (you have 30 days to complete after check out). Get them to review you and review them. Once the 14 day review period is over submit the ticket you already started. They will be forced to pay you "$800" because they agreed to it. Ta-dah. Any extra cleaning, or added utility cost, throw it on there too. This isn't an aircover situation so airbnb isn't losing money. The guest agreed to your rental agreement.

Do the same with animals.

Our property manager does have someone on staff come in after the cleaning crew and the right a short report in the portal

An example of why your Airbnb cleaning fees are so high. Guest checked into probably my nicest Airbnb in the Heights in Houston for a few days this week "for work". Usually our work traveler guests are the cleanest and most considerate. This one decided to remove the curtains from the walls. We have shades and curtains, but all the curtains can be pulled back on either side of the windows. Well, could, before they removed them and threw them on the floor. I guess they wanted more light? Why do people do weird **** like this?

Red Pear Realty said:

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Why do people do weird **** like this?

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I remember showing up to our vacation rental and just cringing every time we opened the door. There was no telling what we would find -- or wouldn't find, because it had been stolen or lost.

The biggest lesson I learned from my experience is that I don't have the personality to be a vacation rental owner. LOL

Has the AirBnB market come crashing down like everyone predicted last year?

Mine haven't, but they aren't in vacation areas. Most of our guests come for work or medical treatments or something like a family members life event. Last weekend we hosted a family who was in town for their niece/cousin's Bat Mitzvah and another family in town for a baby shower. I think the economy would need to get pretty bad before people start missing those type of events. At the end of the year, I'll post some historical year by year numbers for my airbnbs so we can all have a couple of data points.