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3 October 2024 | 6 replies
We'll have an expert on hand who operates nationwide and specializes in new STR setup & decorating.
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4 October 2024 | 13 replies
I’ve personally been keeping track of all data we receive to understand trends in the markets I operate in.
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4 October 2024 | 2 replies
I worked with them on some marketing campaigns, they run a pretty solid operation and have access to some pretty impressive financing packages for their offerings.
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3 October 2024 | 1 reply
One freind of mine at the time had peoperty he owned and it was in his name (for some reason not his company).
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2 October 2024 | 71 replies
All mine avg 15- 25% NET per year, based on cash purchase.
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6 October 2024 | 12 replies
However, there are some challenges to keep in mind:Regulatory Variations: Regulations can vary widely between locations and are constantly evolving.Active Management: STRs require more hands-on management for guest turnover and communication.Additional Costs: Don’t forget about expenses for furnishings, cleaning, and possibly hiring a property manager.If you’re looking for STR-friendly areas, consider these locations, as others can be too expensive to consider, such as Snowmass Village or Aspen:Breckenridge: The most visited ski resort in North America, attracting around 3 million tourists each year.Steamboat Springs: A popular year-round destination for winter sports and summer activities.Keystone: Great for those wanting a less crowded resort experience.Divide & Florissant: Charming mountain towns close to Colorado Springs.Fairplay: Just 30 minutes south of Breckenridge, with an impressive 82% Airbnb occupancy rate.Cripple Creek: A former mining town now known for casinos and outdoor activities.Park County: Very Airbnb-friendly, though regulations may change.Here are some strategies to help you succeed in the STR market:Hybrid Model: Consider using some units for STRs and others for long-term rentals to balance income.Research Local Regulations: Always check the current rules in your target areas before investing.Year-Round Appeal: Focus on locations that attract visitors in all seasons.Quality Furnishings: Invest in quality to justify higher nightly rates and attract better guests.Dynamic Pricing: Use pricing strategies to maximize revenue during peak seasons while maintaining occupancy in the off-season.Stay Flexible: Be ready to adapt your strategy as the market and regulations change.While Colorado’s STR market offers exciting opportunities, it’s essential to approach it strategically.
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4 October 2024 | 29 replies
Because of that they’re in their early 20’s with scores in the 750’s (mine are all above 800)..
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3 October 2024 | 6 replies
Mine is set up to send a weekly email reminder for unclassified trips (which is probably its default).
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7 October 2024 | 24 replies
I also manage properties that are exclusively mine.
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4 October 2024 | 10 replies
I also mention that alterations like this is effectively a cancellation, and so close to the dates effected hurts my operation and should not be possible per cancellation policy. - Guest insists booking was made because of moderate cancellation policy.