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Updated over 5 years ago, 06/22/2019
- Investor
- The worst town to live in, KS
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Reverse psychology in promoting STRs?
My STRs are specifically marketed towards refinery contractors. There is a billboard of mine in the contractor parking lot.
Right now my rentals have a higher vacancy than normal. So does my competition, the local motels. There's just not that much work going on right now at the refinery. When the tide is low, all the ships get lower.
My idea is this: Put a "NO VACANCY" sign under the billboard. I would leave it there for 2-3 weeks, then I'd remove the NO so that it just says VACANCY.
Here's my thinking: Initially the sign will get peoples attention. They will think "Hey, he has no vacancy. His places must be in demand or they are a hot commodity. The motel I'm in is mostly vacant. 80% of the rooms are unoccupied. Why am I staying in this motel? Let me call him and ask to be put on the waiting list." 2 weeks later the sign will say VACANCY. Someone will see the change and think "Hey, there is a vacancy now. Let me call him to get a house and I can get out of the motel I've been staying in."
What do you think?