STR Tips & Advice

[Ahmed Omran]

As a real estate agent and seasoned short-term rental (STR) host with over seven years of experience, I've seen the STR market evolve, especially post-2021, where competition is at an all-time high. Here are some key strategies to consider to help you stand out, maximize your occupancy rate, and boost your cash flow.

First and foremost, invest in properties short distances from popular vacation spots like famous beaches, golf courses, and locations with great weather all year. Not only will you attract families in the summer, but you will also have older couples come to places like Florida during colder months up north. Additionally, a property with a pool and a spacious backyard is a huge draw, as guests love the idea of relaxing by the pool and hanging out outside enjoying the fresh air. Research your competition to see what amenities they offer and look for opportunities to add or improve upon these features to make your listing more attractive. Remember, unique amenities can make all the difference in a crowded market, so the more you add, the more you will stand out, and it will pay off.

Utilizing a dynamic pricing software is crucial for ensuring your property is always competitively priced, maximizing bookings and revenue. If you're self-managing, having a reliable team of cleaners is essential, as a spotless property leads to great reviews and repeat guests. Also, cleaners are the first eyes on the property after check-out and will let you know if things need to be fixed or replaced. Also, you must familiarize yourself with local laws and regulations regarding STRs to avoid purchasing in areas that are not STR-friendly, which could save you from legal headaches and poor investment choices.

Another critical strategy is staging your home to appeal to your target guests. For family-friendly rentals, include children's utensils, plates, a pack 'n play, and games. Providing beach chairs, umbrellas, and a cooler can enhance the guest experience and contribute to glowing reviews if your property is near the beach. The goal is to make before as comfortable as possible without worrying about packing everything for their trip. By implementing these strategies, you can stand out in a crowded market and ensure your short-term rental thrives.

Do you need more tips, or are you looking to invest in a new property in Pinellas County, FL? Let's connect!

[John Underwood]

Quote from @Sherry McQuage:

Some great suggestions! My husband and I are under contract to buy a STR in Beaufort, NC. Will need some work to get it ready, and I'm collecting ideas to make it stand out. The suggestion to have kids utensils, a cooler, and beach chairs is great!

One item I can add from being a guest at a STR...keep up on your pest control (this includes mice/rat control). We rented a STR in Hawaii and ended up buying rat traps because "that area is know for rodents". The owner/manager has been very responsive about calling an exterminator, but cleaning the kitchen counter of rat poo every morning is...memorable.

You're spot on about getting a good cleaner; they can make or break the quality of the guest's stay.

Keep up the good suggestions, and thank you!

I concur with the pest control. We even have a wildlife contract at our Lake House. They come in and seal up all the crevices to keep rodents out. They provide a guarantee and come back out if I catch something in traps that are in locked spaces to find out 
how they got in and fix the problem.