How to find STR Hosts in Anchorage who want professional management?

Question

Hi Alaska short-term rental hosts!

Those of you who know me probably know that I've been working on this for a while now. I'm finally at the point of taking on more short-term rental properties in a hosting/management capacity through newly launched Outpost AK Vacation Rentals. My question is, how do I go about finding the hosts that are looking for or need help with their rentals? Most of the folks that are active in Facebook or BiggerPockets forums tend to be more hands-on and may not be looking for management services. My ideal client is likely someone who doesn't want to be involved with the day-to-day but still wants STRs in their investment portfolio. My goal is 30 units under management by the end of 2023.

Initially, I thought about messaging Anchorage hosts on Airbnb who looked like they would be a good fit, however, I don't think Airbnb would approve if they found out I was using their messaging platform for marketing/sales purposes... So, I'm open to ideas!

Connor Dunham · Answer

Hey Kaiden,

Congrats on the expansion! Grab the muni’s registered addresses and send them a letter in the mail.

Mark Nicholson · Answer

@Kaiden Foster

I’ve been thinking of getting a property for a STR.  I’m gone during the summer, peak times, so it’d be hard for me to do.

I have friends that keep them booked year-round and are doing good.

Wanna chat on here or PM me to give me more details?

Timothy Chi · Answer

@Kaiden Foster

Thanks for posting this and it was good to see the comments. I recognize you from one of the meet ups at 49th state. So someone mentioned about presenting at the meet ups would be a great idea. Hint hint @Jamie Rose @Tyler Cobb @Nick Bruckner

I'm currently making a career change to becoming an agent. I'm sure I'll come across clients with goals of having an STR and can always point them your way. Would love to connect and learn about your business.

Kaiden Foster · Answer

Hi Nick - That's certainly what I'm hoping!

I hate the throw a fee structure out there since it can be customized to the needs of the owner, depending on what responsibilities I'm handling. Not to mention, since I'm just starting out, fees aren't set in stone.  BUT, at the moment, for full-service hosting/management, I'm charging 15% of Airbnb payouts + the cleaning fee; muni taxes and Airbnb fees are already deducted. However, I would also invoice the owner for supplies (toilet paper, granola bars, etc). Landscaping, utilities, wifi, etc would still be the responsibility of the owner. We can coordinate those things and use preferred contractors, but the owner would be responsible for the bill.

Nick Bruckner · Answer

Sounds like a good business to be in Kaiden. I'll mention your service to a few people. What is your fee structure? There are definitely folks who want the additional income from AirBNB's in the summer, but they highly value their time in the summer as well, so I think you're going to be meeting a niche in the market and have the chance to do well.

Landon Fillmore · Answer

Obviously BP is a good start, since you may have two right here! I’m planning on converting one of my long term units into short term and would love to talk more since I won’t live in Alaska for more than another year or two.

Additionally, you could run a FB ad or Google ad campaign. I’ve never run one personally, but I’ve found local contractors for renovations through FB ads who I ended up doing business with, so they have some viability! Another option may be contacting other current management companies (your competition technically…) and see if any of them are overbooked or too busy with their portfolio and would want to downsize? Maybe? There’s lots of helpful people out there outside of the BP community, of course!

Kaiden Foster · Answer

Thanks, Rick! This has pretty much been my exact game plan so far. Been attending several REI groups for about a year now. Haven't led a discussion on STRs but probably should at some point:) Appreciate the input.

Rick Pozos · Answer

@Kaiden Foster the way to increase business is to be the one that people look to for information on your subject matter. First have a Facebook page. Second have a simple website for credibility. THEN go to investor meetings and ask if you can speak about STRs. Be the knowledgeable one. Tell others what the laws are in your area. Tell people the little things to look out for. Be the master of STRs. Of course, let people know that you would love to manage their STRs also. People will realize that you are a Bada$$ when it comes to STRs and some will want you to manage theirs.

I am sure there are quite a few REIAs in your area. Be a member in all of them. THAT is your marketing right there. Everybody should know who you are.

Kaiden Foster · Answer

I should also probably note that I am focused on 1 and 2-bedroom units for the time being. 3+ bedroom places are a different project to take on.

How to find STR Hosts in Anchorage who want professional management?

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