All Forum Posts by: Mark Shay

I suggest you take a deep look at your community budget and determine the impact STRs have on your community.  You can work with fellow owners through the rental alliance called Poconos VRO https://poconosvro.wildapricot.org/ to build a committee to determine what is best for your group. Your committee can put a candidate up for the HOA Board of Directors and you can impact change this way.

The recent court case against the Hideout implies that fees must be the same for all properties, the implication that a homeowner letting guests stay in their home would also be subject to guest fees.  That case is not done and the impact will only be felt if other court cases use it as precedent.  https://www.facebook.com/groups/poconosvro

Recent STR Pros Podcast about the Poconos:

https://hospitality.fm/show/episode/mastering-the-poconos-ma...

Also:
How to Feel Confident Purchasing STRs in the Poconos  

The Poconos Association of Vacation Rental Owners put out an impact study that talks about the big picture which is good.  30 million visitors coming each year, nice things to do, mix of resorts and outdoor destinations that are not overcrowded, a pleasant place to drive to.  STRs generate about as much hotel tax revenue as the hotels/resorts so there is support at higher levels:  https://poconosvro.wildapricot.org/Economic-Impact

Local regulation is rough. 74 municipalities each with their own zoning and STR ordinances plus most of the housing stock is in planned communities, many were built as vacation/resort summer homes.

I think it is fair to say that the STR market in the Poconos is very competitive and in a bit of a correction. There are 6,800 licensed STRs in the 4-county Pocono region. Average homes, in average shape, in average communities with average listings and average marketing are doing well below average financially. As was stated above, there are an awful lot of mediocre properties that are dull and that are not doing well. I do think we are moving to an 80/20 market where 80% of the revenue will come from 20% of the homes.

You can do very well in the Poconos, you just have to earn it.  

March 6, 2024 will be the date of the next Poconos STR Conference through Poconos Association of Vacation Rental Owners. In the meantime, check out the Poconos STR and Home Conference - https://poconostrandhomeconference.com/

Zip Codes and Mailing Addresses don't match Township names in the Poconos.  Regulations come from municipalities and we do have one called Tobyhanna Township, we also have a zip code for Tobyhanna, PA  and they are not the same.  Most of Tobyhanna Township has zip codes of Pocono Lake and Pocono Pines.  Most of Tobyhanna zip code is in Coolbaugh Township.  

Penn Estates seems to be a good place to operate. The number of STRs in that community have doubled in the past 18 months, the HOA reports 160 operating there. A couple of investor groups seem very bullish on this community and that is pushing the quality of operating STRs up which pushes the performance up which pushes AirDNA numbers up, etc.

I modified my Top 10 due to the looming cap on licenses being issued by Tobyhanna Township. Penn Estates is #7 on my list. New STR applications for places like Locust Lake Village, Camelot Forest and Greenwood Acres are now facing the real possibility of having to sit on a waiting list.

Here is my revised Top 10 (Spring 2024):

#10 – Brier Crest Woods
#9 – Indian Mountain Lake
#8 – Split Rock
#7 – Penn Estates
#6 – Emerald Lakes section in Tunkhannock Township
#5 – Towamensing Trails
#4 – Pocono Farms and Country Club
#3 – Arrowhead Lake, Section in Coolbaugh Township
#2 – Big Bass Lake
#1 – Lake Harmony Estates

Search Top 10 STR-Friendly Communities in the Poconos and see links and more comments.

Hi Jamie,
It was a smashing success with over 400 people, more than 100 of them were licensed realtors.  We had 20 exhibitors who all reported solid engagement with the attendees, we even had almost 30 elected and appointed government officials.  Here is a local media account: https://www.tnonline.com/20240316/str-conference-connects-ow...

 We will certainly be doing it in early spring of 2025, location - TBD.  Feel free to check http://www.PoconosSTRConference.com

Since this is a STR Conference in a mountain vacation rental market, we do hope any out of town visitors will stay in rental home, but for those who want to come to the Poconos STR Conference and stay in the host Camelback Resort Hotel, their rate is $159/night (plus tax and resort fee; $215.70 inclusive) with self-parking waived. It is available March 6-8, 2024.
The rooms can be reserved by calling (570) 629-1665 and following the voice prompts to create a new reservation.  Referencing booking ID 12573 or online using 12573 in the promo code area - https://www.camelbackresort.com/poconos-resort/

As we closeout 2023, membership in Poconos VRO has reached 94 with 8 corporate sponsors (affiliates). Thanks to all for your support as our organization becomes to voice of the STR industry in the region.

For those of you with an interest in learning more about vacation rental investments in the Pocono Mountains of Northeast Pennsylvania, the Poconos Association of Vacation Rentals Owners is delighted to announce that Bill Faeth of Build Short Term Rental Wealth will be a keynote speaker at the Poconos STR Conference on March 7, 2024 at the Camelback Resort. Joining Bill as keynotes will be Kenneth Bedwell of STR Insights and Matt Curtis of Smart City Policy Group plus 25 exhibitors and a morning session to meet local cleaners and similar service providers.

Less than 300 tickets are available, visit http://www.PoconosSTRConference.com to lear

The Poconos STR Conference is a partnership between The Poconos Association of Vacation Rental Owners, the Pocono Mountains Visitors Bureau and the Pocono Mountain Association of Realtors.