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Category: Getting Started
By: James Wu
Reply by Chris Nakamura:
Amazing resource! Here's what I'd add to the checklist: **Legal & Compliance (do these FIRST):** - [ ] Research local STR regulations for your specific address - [ ] Apply for STR permit/license (if required) - [ ] Register for occupancy tax collection (if not auto-collected by platform) - [ ] Check HOA/condo association CC&Rs for STR restrictions - [ ] Set up business entity (LLC recommended) — see https://strspecialist.com/blog for guides - [ ] Get EIN from IRS (free, takes 5 minutes online) - [ ] Open separate business bank account - [ ] Get STR insurance — Proper Insurance (https://properinsurance.com) or Safely (https://safely.com) - [ ] Inform your mortgage lender/homeowner's insurer of STR activity **Property Setup:** - [ ] Professional deep clean - [ ] Install smart lock (Schlage, August, or Yale) — no more key handoffs - [ ] Install exterior cameras (Ring, Wyze) and disclose in listing - [ ] Install noise monitoring (Minut, NoiseAware) — disclosed, privacy-compliant - [ ] Install smoke detectors and CO detectors (required by law in most states) - [ ] Fire extinguisher in kitchen - [ ] First aid kit accessible - [ ] WiFi speed test (minimum 50 Mbps for good reviews) **Furnishing Essentials:** - [ ] Quality mattress + mattress protector (waterproof!) - [ ] 4 sets of white towels and sheets (allows for laundry flexibility) - [ ] Blackout curtains in bedrooms - [ ] Full kitchen setup (pots, pans, dishes for max occupancy + extras) - [ ] Coffee maker (Keurig or Nespresso recommended) - [ ] Iron + ironing board - [ ] Hair dryer - [ ] Extra blankets and pillows in closet **Listing Setup:** - [ ] Professional or high-quality photos (natural light, wide angles, landscape orientation) - [ ] Compelling title with location keyword + unique feature - [ ] Detailed description focusing on EXPERIENCE, not just specs - [ ] Complete ALL amenity checkboxes (guests filter by these) - [ ] Set competitive initial pricing (15-20% below market for first 5 reviews) - [ ] Enable Instant Book (major algorithm boost) - [ ] Set up dynamic pricing — PriceLabs (https://pricelabs.co) recommended - [ ] Create house manual — use https://strspecialist.com/tools/house-manual-generator **Operations:** - [ ] Hire and train cleaner with detailed checklist - [ ] Set up automated messaging (Hospitable recommended) - [ ] Create check-in/checkout instructions (test them yourself!) - [ ] Set up automated review request - [ ] Establish maintenance contacts (plumber, electrician, HVAC, handyman) - [ ] Create emergency procedure document
Reply by Heather Barnes:
This is gold. One critical addition: **SET UP YOUR FINANCIAL TRACKING FROM DAY ONE.** I waited a year before organizing finances and tax season was a nightmare. From day one: - Separate bank account (absolutely non-negotiable) - Separate credit card - Stessa (https://stessa.com) or QuickBooks for tracking income/expenses - Mileage tracking app (Everlance or MileIQ) - Save receipts (take photos, store in Google Drive or Dropbox) - Find a CPA who specializes in real estate/STR (don't wait until tax season) Also: **photograph everything before your first guest.** Document the condition of every surface, every piece of furniture, every appliance. Timestamp these photos. You'll need them for damage claims.