All Forum Posts by: Kyle Jacques

@Kyle Jacques

I'm in the Tahoe area an it sounds like you're a similar area.  If you're bookings are reduced look at your competition and what amenities are they offering. Who is your target audience to book? IF it is skiers are you providing good resources for ski delivery, transportation, tips and tricks for parking, deals on lift tickets, etc. What is the kitchen like? Can you come from a long day and cook a quick meal with an InstaPot or air fryer? Also using dynamic software pricing can help increase revenue. Updating the photos with seeming minor details can make the difference between booking your place and the place with only a drip coffee maker.  You're running a "hotel", would you stay at your place or another house in the area? 

Hi Kyle!

Be sure to market your listings on both Airbnb and VRBO. Using Instagram and TikTok is a great strategy—post short reels to attract guests and use hashtags for more visibility. You could also try seasonal decorations, like for Halloween or Christmas, to make your property stand out.

For help managing the STR, look into property managers who specialize in short-term rentals or join local real estate groups to connect with experienced hosts. That could help you break even and get closer to buying another one!

 Hey Kyle, 

Have you heard of STR Nation? That's a really great group about short-term rental management. I'm sure they could give you a few ideas.

1. Pro photos for the best chance to grab attention. Look at your competitors hero photos and do something different with other colors

2. Pricelabs is the most common dynamic pricing software but just make sure you’re using something. 

3. Amenities have to be incredible. Hot tubs are expensive and a pain in the butt. However they are also one of the best investments to drive booking in.

4. Management- evolve sucks, get a really good manager that has a team to support both them and you. They will get you on every platform- Airbnb, Vrbo, your own booking site, booking.com, google vacation rentals, Marriott’s, Expedia, furnish finders, there are plenty of smaller ones as well. They will help with your tech stack as well such as Hostaway, pricelabs, WiFi locks, stayfi for marketing etc.

5. Design- in my market I don’t see crappy units, they are all nice. However think of a hotel room, it’s nice right but it’s also kinda boring just a place to sleep. Again look at competitors see who is being successful. Don’t copy their design make your own but look at styles that work, what can you do that makes you special, can you do a theme that will stand out? 

6. You are not in a real estate business, you’re running a hospitality business. Your management has to be top notch, your marketing has to be top notch, your pricing has to constantly change with the environment, your design has to be incredible and the photos have to trigger that booking response. Gone are the days of easy money. Guests are picky and entitled so you have to be elite in your market. The goal is not to just have a nice property with a sea of other nice properties. The goal is to be in the top 10% so you have a much higher chance of getting booked, first breaking even and then creating cash flow because that is the goal of any business. Or would you rather be paying out of pocket to provide a house to your guests

@Kyle Jacques

Well you have great photos! But- you only have one review that’s problem #1, and you are $590/night. That’s insanely expensive, and I put in for this weekend. Dynamic prices drop the price last minute so if you are looking further out it will be even more. Third- you are using Evolve so you have lost control.

You should lower your price to under $200/night. At least until you have more reviews. And maybe fire evolve and use a local PM or self manage.

Your property is beautiful, but you have priced yourself out of the market and your only amenity is a pool table. Without a hot tub, or a swimming pool, or a back yard patio you aren’t offering anything but a place to sleep. So your price needs to reflect that. Drop your prices and your calendar will fill.

Without seeing a link to your property it's hard to provide specific advice, but generally speaking it sounds like you need to "optimize" your STR listing.

To boost your activity I would do a few things:

1. Make sure you have professional photos and your staging/decor is top notch

2. Make sure your listing description is detailed, catchy, and easy to read (not just a jumbled mess of a paragraph)

3. Use a dynamic pricing tool (like Pricelabs) to be more competitive - you may have #1 and #2 dialed in, but if your pricing is off (too high) then you won't get bookings.

4. Exposure - make sure your listing is on all the main booking sites. Between Airbnb and Vrbo you probably have 95% of the market covered, but you can also get on sites like Booking.com and Google Vacation Rentals, etc for additional exposure. 

5. Utilize the enemy method - like @Bradley Buxton said, take a look at your competition to see how yours compares and make adjustments accordingly