Marketing a STR Management Company for Luxury Props

Rental Property Investor · Syracuse New York · Member since 2024 · 31 posts · 17 votes

Would love to hear some strategies you have to market for new clients.

To date, I have boot strapped through networking and posting Reels on the topic of STRs, which has grown my business to 11 properties under management. My primary source or leads is from Facebook. However, I really want to A) accelerate growth and B) pivot to managing luxury and unique spaces.

I'm also looking to buy some mom and pop STR management company's to accelerate growth.

Would love your insight.

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Jason Tarabokija

Real Estate Agent · NJ · Member since 2015 · 24 posts · 15 votes

I own a STR management company at the Jersey Shore. We recently launched and have 7 units under management. We have found the most success through local Facebook marketing so far. Hope this helps!

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Andrew SteffensBusiness Member
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
2y
There are specialty companies like Vintory that can help. We just severed with them, not their fault but the ROI was not as much as we would like. Otherwise, a good site, SEO, Ads, etc..
Our best rev growth has been through local networking though 100%
[email protected]813-563-0877
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Merritt Harris
OP
Rental Property Investor · Syracuse New York · Member since 2024 · 31 posts · 17 votes
2y
Quote from @Andrew Steffens:

There are specialty companies like Vintory that can help. We just severed with them, not their fault but the ROI was not as much as we would like. Otherwise, a good site, SEO, Ads, etc..
Our best rev growth has been through local networking though 100%

Thank you, I'm jumping on a demo with them now. How many deals did you land due to their effort? Do they hit FB ads too? I noticed they do Postcards. I can do those pretty easily myself...
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Brooklyn McCarty
Investor · Member since 2022 · 1k+ posts · 754 votes
2y
Avery Carl always says you don't have to reinvent the wheel here. Provide cute, clean, comfortable places for guests. You don't need a bowling alley in the middle of the home.

I would invest back into what is already in your portfolio before trying to scale, try out luxury/unique on something you already own/manage and see what it does for numbers.
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Merritt Harris
OP
Rental Property Investor · Syracuse New York · Member since 2024 · 31 posts · 17 votes
2y
Quote from @Brooklyn McCarty:

Avery Carl always says you don't have to reinvent the wheel here. Provide cute, clean, comfortable places for guests. You don't need a bowling alley in the middle of the home.

I would invest back into what is already in your portfolio before trying to scale, try out luxury/unique on something you already own/manage and see what it does for numbers.
Yes, I agree that reinvesting in what I have is a good idea.

I can't do luxury for these properties, they are on pretty urban streets... However I am seriously considering making the SF a really funky maximalist design this year.
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Andrew SteffensBusiness Member
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
2y
Quote from @Merritt Harris:

Quote from @Andrew Steffens:

There are specialty companies like Vintory that can help. We just severed with them, not their fault but the ROI was not as much as we would like. Otherwise, a good site, SEO, Ads, etc..
Our best rev growth has been through local networking though 100%

Thank you, I'm jumping on a demo with them now. How many deals did you land due to their effort? Do they hit FB ads too? I noticed they do Postcards. I can do those pretty easily myself...

We got off to a good start in late 2022 and then 2023 when the market took a downturn it dried up and we terminated at the end of 2023. They do not do anything you cannot do on your own for cheaper, but they do a good job managing the whole process and keeping it organized. They provide a good time value in my opinion.
[email protected]813-563-0877
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Theresa Holl
Investor · Minneapolis · Member since 2023 · 265 posts · 162 votes
2y
Hey Merritt - great topic. What is your key differentiator and target demographic? Without spending a ton, there are a lot of things you can do around local partnerships and referrals, especially leaning into the amenities and experiences luxury clientele will want. So you basically approach a potential partner, like a luxury designer, wellness practitioner or tour guide and offer to help promote them to your clients. They will likely respond in kind and now you each have a lead factory. You offer their services at a discount to your clients as your differentiator. You can also partner with a consultant who can get your clients their own websites as long as you're managing them. It's a pain to move off a website, especially if it has all your leads, CRM and marketing systems attached so they'll likely be a client for life.
Offer eye-catching upsells to guests like concierge services, butler, car service, pet sitting, valet and parking. Offer wellness gatherings if there's an event space and bring in influential life coaches/yoga types.
Partner with a local artist and put a QR code on the art so it's available for purchase in the property and take a %. This is a constant reminder of that property for the guest so they'll talk about that property and that experience in particular, rather than saying "I stayed at an AirBNB."
Tons of additional things you can do. Make sure the listing has an Instagrammable space with a unique hashtag incorporated in it so the social media posts increase.
Happy to share some more ideas...this is off the top of my head.
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Jason Tarabokija
Real Estate Agent · NJ · Member since 2015 · 24 posts · 15 votes
2y
I own a STR management company at the Jersey Shore. We recently launched and have 7 units under management. We have found the most success through local Facebook marketing so far. Hope this helps!
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