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.
Live in a HOA? Will my HOA be a pain in my butt about Renting out??
**Short answer:** Yep, unless you've stumbled into the rare, mythical HOA that actually minds its own business.
Let's face it—some HOAs are run by folks who missed their calling as hall monitors. Picture a crew of retired schoolteachers who, instead of basking in the glory of free time, spend their days patrolling the neighborhood like it's their full-time job. They live for control, and short-term rentals (STRs) are often public enemy number one. You've probably had that delightful doorstep chat with a board member, reciting some obscure rule you had no idea existed.
Now, do you have the right to rent out your home as an STR? If so, make sure to dive into their bylaws to see if they’ve set any rules for renters. No rules? No right to hassle you. And if they do have rules, ensure they’re publicly posted and actually compliant with Fair Housing laws—because believe it or not, many HOAs think a service animal and an emotional support pet are the same thing (hint: they’re not).
And the irony—some board members, likely pet owners themselves, will try to enforce anti-pet policies on renters. Shouldn't that decision rest with the homeowner? But I digress. Watch out for HOAs that demand personal info about your renters, even if they're just crashing for the weekend. This could scare off potential guests. And don’t forget to check out their fines—make sure they’re not outrageous or part of a pattern of spontaneous rule-making.
Some HOAs take things personally. If a board member has a bone to pick with you, they might team up with another to make your life a nightmare. Midnight emails? Oh, they’re a thing. I’ve had my fair share of HOA run-ins. Some HOAs will roll out the red carpet, especially if you’re the go-to STR in the community, while others will work overtime to make you miserable. Take Lakeside Club Condos, for example—they’ve got the charming habit of changing rules right before peak season, just to make life a bit harder for owners and the people they hire to help welcome friendly vacation renters alike. It’s like they want to make sure nobody has too much fun but they love to demand your monthly dues. Honestly, why are HOA's still a thing and why do people of certain ages love to "police" of the community?!
In fact, I had a client who finally sold her condo after being relentlessly harassed by two tireless "Karens" on the board. They even discriminated against a disabled veteran vacation renter with a service dog and never once apologized and still sent a fine to the owners becuase they thought the renter had a fake "service" animal. Needless to say, the HOA was received a lawsuit.
Sadly, some HOAs revel in their power (no names mentioned to avoid any HOA revenge plots), but remember, you’ve got the law on your side. Keep every piece of communication locked and loaded, just in case they try to slap you with a bogus fine or a lawyer’s letter. If your HOA technically allows STRs but makes it feel like an obstacle course, their endgame is probably to ban them altogether, so they can keep holding onto their precious 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.
