FAQS
Help and Advice
Do I really want to Host out my home?
When it comes down to the basics, sharing out your space can is strange but is no different from an entrepreneur life. The best part THOS, we put in all effort, time to make it profitable and worth your investment.
Just like setting up any business, we take crucial steps, like conducting market research and creating a business plan, to ensure you're starting on the right foot.
Will my HOA be a pain in my butt about Renting out??
Short answer: Yea.. Unless you live in friendly HOA that welcomes STR and embraces you and leaves you alone and minds their business.
Other HOA's are ran by generally retired school teachers with nothing better to do with their limited time left who spend all day monitoring and policing all activity only because they love to control everything and they're probably bitter- but you already you know that because I'm sure you shared a moment with a board member at your door step sharing a rule you've already broken. Do you have a right to rent out your home in your area for STR? If the answer is yes, be sure to look at their bylaws to make sure they have a proper renters rules in place and if they don't- they have no rights to bully you. Be sure if they do have rules on renting STR, that is posted publicly and double check they are compliant with all Fair Housing laws -most of the time they're not! You'd be surprised, some HOA's do not know the difference between service animals or ESA pets. Many board members do not welcome pets with renters, yet will walk up to you with their own dog next to them and share that info with you- shouldn't that be on the owners decision because they're renting out their own home? Makes no sense- but that our opinion. Some HOA's require personal and private info of your renters - even if they are staying for the weekend. You may loose renters that way. Also take a look at their fines too- be sure they are not outrageous and there's no pattern of creating spontaneous rules or fines in the past to other people. Some HOA board members may not like you due to any reason and will tag team with another board member to bully you and the rental company and send long emails middle of the night. I personally have had some very negative experiences with some an HOA and other HOA's will fall in love with us- in fact we're the go to STR for a community of condos and the board embraces us and offers to help write fair rules and they don't police! Other HOA's will do everything they can to make the experience terrible to the point all the owners' quitting because they are being harassed by the HOA too much. In fact, I had a client that sold her condo because she was fed up with the two mean old karens constantly harassing us, our renters and the owners. They even discriminated a disabled veteran who brought a service dog. Some HOA's embrace being a bully (I won't say their name for the simple fact they'll retaliate against me) but just remember, the board is ran by bitter old retired cotton head Karens. But, luckily you have the law on your side and the rights on your side too. When they like to be noisy, we like to keep a heavy track record of every move they make just in case they want to present a silly fine or threaten with a lawyer. All communication is kept under lock and key and used when needed to protect the owners. Again, if your HOA allows but makes board members make it a challenge, they end goal is no STR without voting so they can continue to keep their board positions and hold that power.
What are my financial goals?
So you want to earn extra income from your space with us. Awesome!
First, must make your financial goal SMART: specific, measurable, achievable, relevant, and time-bound.
Are you looking to turn it into a full-time that earns a steady income? Or do you just want to make some money on the side? Your goals will determine how much time and if you'll need capital to start. That's why a property assessment is required. We can be upfront and honest if you'll need to invest in order to grow a profit. We won't b.s a client and say their space is perfect. We can help determine the cost and the right approach to making sure we're inline with your goals.
If you want to turn your real estate investment into a steady income stream, then at THOS, we're the right fit!
Do I Have the Time for It?
Don't underestimate the time you need, especially in the beginning. At Thos, we do all the heavy work for you. At times, we'll ask for your assistance only because your home is your baby and it's very important we ensure the best for your property. We will manage listings and bookings, prepare your property for guest arrivals, and handle maintenance hands-on. These tasks can take time, and it's our job to ensure that your property is published and ready for the public eye within 72 hours once you signed onto our platform.
Your job: relax and let us do all the work.
Is there demand in my Location?
Location is everything!
Demand is high in popular tourist destinations in Northern Michigan area, Dallas and FL markets. The best part- have a a deep understanding of all three markets. So if you have a property in Naples FL and a property in northern Michigan we can share out your space when you're in one location and vice versa. We work around your schedule!
When performing market research, we work with you and give you a DNA of demand in your prospective area.
How Much Will I Earn?
Of course, money is the most significant consideration when starting an short term business. You want to ensure it will pay off financially before you invest your time and resources.
To find out how much you can earn ,we can provide you a income estimator based on your property's location and type. We can show the amount you can earn monthly, depending on the number of nights you selected to have your property booked.
Your earnings will still depend on many other factors, such as your pricing, the demand in your area, the season, and the occupancy rate. Still, the financial projection will give you an idea of whether listing your property will indeed earn profit.
Can My Space Meet the Standards?
To ensure high-quality service for guests, THOS asks all owners to meet basic requirements:
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Reservation commitment- Try not to cancel a guest's booking because you want to use your own space. Any platform will charge a penalty. THOS will always provide a 30 day schedule of activity/bookings ahead.
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THOS Requires the confirmation from owners that whenever essentials supplies are needed, the owner will pay for those items when needed though the portal. Example: bathroom supplies. An inventory will be accounted for and when low, THOS will alert the owners for payment unless owner wishes to supply a monthly supply expense so owners won't have to worry about alerts. Our cleaners will gladly restock.
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Ensuring the property is clean and safe from health and security hazards prior to onboarding.
