All Forum Posts by: Theresa Holl

$20K a piece would be very low.  $40 - $50k each would be a low annual average.  Some people will say that there are long quiet seasons to factor in but you can mitigate that risk with events and retreats.  A little relationship building with yogis, wellness types, knitting clubs, anyone nearby who needs an event site now and then and you should be good to go.

Nancy- are you going to STR the Long Island property?

Hey Wendy, I have a friend from PHX who might have some ideas for you.  Let me know if you'd like an intro.

Landlords need to market themselves all the time, not just when they need a tenant.  My friend has written an app called Shuk Rental Marketplace (I'm not in the company) so landlords can get rated and rate their tenants. The idea is that you build a following of warm relationships and can leverage your reputation when you need a tenant.  

You really want to surround yourself with experts on every aspect of STR investing from insurance to financing, REI analysis, tax strategy, growth and marketing plans, etc... people who are good at this have teams of specialists guiding them.

Thanks for this update John.

NoiseAware is also popular. It messages the guest directly if noise exceeds a certain decibel level. 

Many STR investors might not consider hotels to be their direct competition, or think of KPIs the same, but hotels are definitely competition for STRs. I often take massive road trips and will stay at a mix of STRs and hotels or quirky lodges depending on what looks fun or convenient. It doesn't hurt to think like your competition now and then. Also, from a marketing and revenue management position, hotels are better than many STR hosts at maximizing top line gross revenue with events and other specialized clientele. We teach our clients in the STR game to use those strategies and the results are impressive.

 Guesty for Hosts to Guesty for PRos was rip and replace, AKA nightmare to upgrade.  Lite to Pro is supposedly seamless so it's a huge strategic move for them.