STR EXPERTS QUESTION

[Jay Soriano]

For those STR experts here that has owned STR since 2020,2021, and 2022. How would you compare the past few years to this year 2022 knowing that the market is shifting. Is there any changes on revenue/bookings/occupancy rate?

[Noah Laker]

I host over 100 units on Airbnb. Sacramento, CA is my home, we have about 30 rentals there, and they've slowed down modestly but not much.

Scottsdale / Phoenix is a different story. I have almost 100 properties there and this summer wiped out a lot of weaker players. Occupancy and rates dropped lower than we've seen in at least 5 years. 

It is definitely regional, and part of it is due to the proliferation of the arbitrage model by newbies, particularly in markets like Arizona with low barriers to entry. 

Quality of your listing and location is now more important than ever.