All Forum Posts by: Michael Alexander

Quote from @Michael Baum:

I wouldn't use it either. I think it could add value but not where we are at.

I wonder if it would be used by other non-guest EV drivers in the area if they need a charge.

It would be for anyone, not just guests. If the big ice storm has taught us anything is that there’s more electric vehicles on the road than ever and you need access to power. They would use the app to find a charging location and you get paid for them using it. 

Ive been posting about new tools or amenities I find that could add value to short term rentals. This particular product in theory could work for any rental model. With a similar setup as by the hour parking apps you list your charger in the marketplace and charge a rate. Would you use this at any of your rental properties? 

https://blossomev.com/

There is an app called Rental Runner. Think of it like a task rabbit for the rental community. 

https://rentalrunner.com/

Adapting strategies during high and low seasons in the world of short-term rentals is essential for maximizing revenue and maintaining a successful operation. A foolproof tip for adjusting strategies is to implement dynamic pricing. During high seasons, leverage the increased demand by adjusting your nightly rates upwards. This allows you to capture the higher willingness to pay from guests during peak times. Conversely, during low seasons, consider implementing discounts, promotions, or adjusting rates downwards to attract more bookings and maintain occupancy. Utilize data analytics and market research to understand demand patterns, local events, and competitor pricing, allowing you to make informed decisions. Dynamic pricing ensures your property remains competitive, attracts guests during slower periods, and maximizes revenue during peak seasons, offering a flexible and effective approach to adapting to fluctuations in demand throughout the year.

In establishing a co-ownership model for a vacation home and short-term rental property, several key considerations and learnings emerge. First and foremost, creating a legally sound structure, such as an LLC, and developing a comprehensive operating agreement is crucial to defining ownership rights, responsibilities, and exit strategies. Clear financial arrangements, including financing terms, usage scheduling, and ongoing cost contributions, need to be established to ensure transparency and fairness among co-owners. Effective property management for short-term rentals, local regulation compliance, and understanding tax implications are vital components of successful co-ownership. Additionally, fostering open communication, having clear decision-making processes, and seeking professional guidance in legal, financial, and tax matters are essential for a harmonious and well-managed co-ownership venture. 4 to 8 partners all opting to take the same weekend could lead to some ruffled feathers if a structure isn't in place on some level of hierarchy.

Did you get this straightened out? 

Hello Matt, I would be happy to chat about the co-host services you are looking for. I'll shoot you a DM 

What are you looking to build? 

Can you email me the details? [email protected]

Can you email me more information on this? [email protected]