In this episode, Jonathan Farber interviews Scott Jennings on his journey from discovering STR through an over-garage apartment to running a portfolio of 13 properties. Scott is a short term rental (STR) operator, property manager, and host based in Chapel Hill, North Carolina. In this episode, we dive into topics like: the benefits of short term rentals, getting started in STR, analyzing short term rentals, and more!
Benefits of STRs - 13:15 - 15:15
Short term rental monthly income is nearly always higher than long term rental
Short term renters tend to use less utilities and cause less property damage
The opportunity to frequently maintain the property keeps it in excellent condition
Getting started in STR right now - 15:45 - 20:00
Start learning right away: Youtube, inexpensive courses, experienced contacts
Start collecting furniture, other equipment
Find the right property - why should someone stay here
What risks are you most averse to and how can you avoid them?
Hire a photographer and put your information into Airbnb
Analyzing STR deals effectively - 20:30 - 25:00
AirDNA is the premiere option but comes with premiere pricing
For free, Airbnb can be used directly to find comparable properties
Checking VRBO and Booking.com will show you how competitive the market is
The platforms will also show the rates throughout the year for a better long term picture
How to bring value to Scott Jennings:
Bring properties that need management or could benefit from STR
Connect With The host, Jonathan Farber Here!
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Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
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