STR: What would you do different?

Question

I'm under contract to purchase my first AirBnb! I have a few long-term rentals but short-term is all new for me! With that being said I need some advice!

There are so many factors and moving parts when it comes to getting an AirBnb up and running. If you have owned and operated a short-term rental what is one thing you would do differently in the beginning in order to achieve those 5 star reviews as well as maximize cash flow?!

The property is in the Kansas City metro area just a short drive to local hospitals and downtown! A 2 bedroom/1bathroom SFH with a garage and fenced in front yard.

All tips and tricks welcome!

Collin Hays · Answer

1. Make certain your property is safe for guests.

2. Furnish and decorate it upscale all the way. You will attract a higher end clientele, and they will treat it as if it is upscale.

2B.  High quality leather furnishings. They will outlast fabric 10X1.

3. Get legit professional photography done.

John Underwood · Answer

Nothing different as I achieved all those 5 star reviews.

Check on your guests and MAKE SURE everything is good after they have gotten settled. This is the number one best thing to do.

You of course must have a nice place, hopefully better than just an "Airbnb" but a nice STR or vacation rental.

We also leave a handwritten welcome card and something sweet from a local German bakery.

On the rare occasion there is a problem we take care of it swiftly and communicate with guests about what is going on to get their issue fixed with minimal impact to their stay.

If I had a serious enough issue I would offer a partial refund. Their happiness and enjoyment is more important than the money.

If I make a mistake with pricing, I honor it and move on. Once again money does not take priority over doing the right thing.

I do not have all my eggs in one basket so I don't have to worry about income at any one property, but I started with one and built the empire.

Jeremy Greenamyre · Answer

In addition to Collin...

We have 12 units in the Leavenworth market, mostly 1 bed / 1 bath.  We attract a lot of longer-term stays thanks the types of employers we have in our market.  MTR (30+ days) is much easier IMO, thus, discount for longer stays.

If you use electronic locks, also have a back-up plan (lock box, hidden key, etc.), otherwise you might be troubleshooting technology in the middle of the night or while out of town.

Unless you a very set up for pets, I would not allow them.  Every higher-dollar damage claim we've had is from pets (when we allowed them, or who were snuck in by the guest).

Explain everything.  Parking, trash days, wi-fi, TVs, etc.  Put this info in the app as well as in the unit.  It will cut down on guest inquiries.

Myka Artis · Answer

The one thing I would do differently is to make sure I know my target audience and cater to their needs. I used to pick up units, throw furniture in them, and make a lot of money, but the STR game has become a lot more sophisticated. I now know what type of guests are coming to my town and what they are looking for, so I can cater to them. I noticed you mentioned you have a 2-bedroom, 1-bathroom property with a garage and a fenced-in front yard. Just ensure that you target the guest who is specifically looking for that type of rental. Additionally, are there enough of these types of guests visiting your area to make your rental profitable year-round? In my Texas units, a 2-bedroom unit works excellently, but in my Arkansas units, a 3-bedroom unit is better, as they attract different types of guests in each city.

Michael Baum · Answer

AirBNB is a platform where you list your Short Term Rental @Amy Larsen.

Make sure you list it on VRBO in addition to AirBNB. You would be giving up a ton of views from folks.

What you need to do first is read this forum. Go through the posts and you will find out a ton of info.

Patricia Andriolo-Bull · Answer

What others have said. Most importantly, remember this is a hospitality business. Treat customers right and you should do well.

Also, I would t call it an Airbnb. Stick with STR and list it on at least VRBO also.

James Carlson · Answer

Don't cut corners.

The STR market here in Colorado (and I imagine there in Kansas City) is tight. So you need to check all the boxes:

-- Buy a unique property, if possible -- this A-frame is an example -- but is not necessary.

-- Design it well. Even consider throwing a few thousand at an interior designer.

-- Furnish it with quality, design-forward furniture (like @Collin Hays said)

-- Add one or two killer amenities (hot tub or sauna always do well in Denver, Colorado Springs and the mountains here.)

-- Pay a high-end real-estate photographer to shoot a mix of photos from full-daylight and sunset.

Good luck!!

Joseph Sauer · Answer

All these are great suggestions! For short and long term success, you have to build up those 5 star reviews! Those reviews determine your ranking on Airbnb, how guests view your property, and ultimately your success, so make sure you put hospitality first. You obviously need to protect your investment, but the STR space is ultimately a hospitality business first and foremost, so treat it as such. Besides that, have systems in place. Like scheduling messages and making sure you have a highly recommended cleaner on lock. (Quick side note: DO NOT CHEAP OUT ON A SOLID CLEANER! A cleaner that does a great job, communicates well, is dependable, responsible, and restocks supplies is worth their weight in gold!!) This will save so much time and effort down the road

Give yourself grace and time. There's a hard learning curve in this space.

Jon Martin · Answer

You may not want to hear this, but I would not have bought a 2 bedroom property. They are the awkward middle between being too much space for a couple yet not enough space for a larger group/family. My 2 bedroom property is used by 1-2 people for 85% of the stays, therefore I spent/spend money to renovate, furnish, heat/cool and clean a 2nd room that isn't needed most of the the time. Given that, my pricing is basically on par with hotels.

Not to say that there aren't markets that draw the type of guests who prefer 2 bedrooms and can demand a premium for it, although from what I've seen with market data tools this pattern repeats itself in lots of markets. Especially if you only have 1 bathroom.

Other than that, agree with all the comments above!

Renee Krystek · Answer

I come from a design background so bare with me.

One thing I always recommend (and wish more hosts did sooner) is to design and furnish intentionally from a guest’s point of view. It’s not just about having a couch and a bed, it’s about creating an experience. Think cozy, durable, and photogenic. A well-designed space can seriously boost your nightly rate and help lock in 5-star reviews from day one.So many ideas were already listed above but here are a few more:- Add a workspace or desk. Travel nurses and remote workers will love it.
- Provide a guidebook with your favorite local spots, especially food and coffee near hospitals or downtown (my favorite when I travel and stay at STRs)- Don’t skimp on great lighting and high-quality bedding. Assuming the hospital will be a a big draw, these doctors, nurses, patients will be TIIIRED.

STR: What would you do different?

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