Planning Your Short Term Rental Growth Strategies

[Chris Brown]

We are currently planning to expand our STR portfolio in our market and I wanted to try to have a more structured approach to this goal. I believe this will allow us to avoid some of the many potholes with setting up units and most importantly it will help control the overall budget.

Example: 

• STR Program - 1 Bed/ 1 Bath Unit
  - Determine key walls to paint and/or place wallpaper for the desired look
• - Determine required furniture (tables, chairs, beds, mattress, couch, etc.) and price range for the desired look
• - Determine required electronics (TV's, Smart Locks, etc.) and price range 
• - Determine required decorative items (Pictures, vases, lamps, etc.)

Hopefully, this gives an idea of what I am trying to achieve to set us up for a more planned expansion of our STR portfolio. My question to your guy is, does anyone have any recommendations about approaches they have used to be budget-friendly and organized during the short-term rental setup period? (Spreadsheets, articles, books, anything that might help me with getting organized would be a great help)

Thanks in advance!