All Forum Posts by: Matt Mertz

I've had 2 similar calls with a VRBO rep.  Got an email saying they'd like to meet and go over y listing.  First time he actually had 2 good recommendations:

1. Add "Hot Tub" to the listing name because you can't assume guests know everyone has one in the Smokies.

2. Put the game room picture with the bunks in the top 3 pics because it would really appeal to families.

We thought those were good tips and our VRBO bookings are doing well but not sure if it's related to the advice.

The second time we spoke to him he said our list was killing it and nothing to change.

I suspect the Airbnb session would be similar.  Just thought it would be fun if someone heard something novel during their session.

You're probably right.  If we went I'd expect to hear something about allowing pets, adding exercise equipment or lowering our rates.  We've already learned alot from this forum in the last 3 years.

Anyone going to the Airbnb host success event in Gatlinburg this Wednesday and Thursday?

Just tried to reserve a spot but they were full.

I was hoping those attending could share some of their insights on this thread tomorrow.

Thanks!

LOL that response only reinforces my belief in your expertise.  ;)

@John Carbone @Collin Hays I just wanted to thank you guys for the expertise you share in the Smokies market.  I find value in your posts.  Thank you.

Be sure to check on local regulations. There may be an HOA out there that prevents parking the trailer on your lot.

Also like Nathan explained, make sure the work maintaining a relatively low revenue property is really worth it to you.

We have 21 nights / 6 different groups booked for this June.  But we didn't cut prices.  Two of those booked in May.

Pretty simple explanation.  We started off pretty slow.  I guess it was the new listing and lacking reviews.

For comparison, we had 66 nights booked 1st half of 2022.  This year we have 101 nights and there's still some days in June left.

I look back at those numbers in 2022 and wonder why we weren't so scared.  But 2022 was a good year despite the slow start.  

That's the pricelabs dashboard showing your occupancy rate at 7/30/60 days.  Luke is doing way better than our cabin.  We're 43%/60%/55%.  

We've noticed a couple of things this year.

1. We're doing far better than last year.  Revenue first half of this year is +57% above last year.

2. We've noticed time between booking and stay has shortened.

Our listing started in Dec 2021 so I think the better performance this year has to do with getting more reviews and superhost.  We're super happy but the tighter booking times worry us because we have a big cabin that typically requires more coordination to book.  We're hoping that the rest of this year will continue to be as great as the first.

The other thing I wanted to note is that we didn't get the better numbers by cutting our rates.  We have a new construction with fantastic views so we've held firm on that.

This is a fun topic because that's our goal.

I would recommend keeping your W2 job but start looking for another one to get a bump in pay.  The biggest pay raises you get are typically from switching jobs.

If your rentals are replacing your income, great!  Sock away every penny you make from your W2 then re-assess in 2-5 years.

Maybe set some goals before you quit: pay off a mortgage, build up a large emergency fund, pay off your car loan, etc.  Basically give yourself sound, financial goals that will benefit you when you lose the income from your W2.  This will justify and set your decision later when you achieve those goals.