STR Unlocked

Anyone already invested in a short term rental would agree that there is so much to worry about and keep track of that some things just happen to fall between the cracks. If you're striving for the coveted 5 Star review then probably the best way to make sure everything is taken care of is to create systems for everything.  A system is nothing more than a series of steps taken in order to achieve a desired outcome.  They are usually automated which is great because with enough systems you can book guests and gain revenue with much, much less stress involved!  The episode this week is all about how April and Nathan's short term rental is managed though systems and the sort of value they provide to not only a listing, but to the guests as well!

Continuing from the previous episode, April and Nathan talk about a couple of things they learned about the general consensus the public holds about Short Term Rentals.  While it may not all be positive it is important to recognize the opportunity that is available in offering a high class experience, especially compared to other listings in the same area.  They also give some insight into why some rental properties don’t give off the same feeling a guest might have when the guest sees the listing online.

In episode 7 of the series, April and Nathan talk about a listing’s Expected Value versus its Perceived Value when a guest arrives.  They recently took their family on a trip to the beach where they were able to experience this concept firsthand. Tune in to find out why it is so important to under promise and over deliver rather than the other way around!

The STR Market isn’t as easy as it used to be! With so many more properties popping up on the various hosting platforms, you have to put more effort into booking your listing than in previous years. In this episode, April and Nathan detail how important it is to have good data and they go over some of their proven methods for getting booked.

This episode is especially helpful for those who are handling their Short Term Rentals remotely.  April and Nathan go over some key points in finding the right cleaning company to handle your property and how important it is to be thorough in how exactly you want your property to be handled.

Finally, some hard data! The hosts get into their Pricing Strategy and how they use the “Enemy Method” to price the listing.  They also go over their occupancies, lead times, revenue and how Rank Breeze was used to supercharge their listing.

Sometimes the “turn key” experience isn’t as turn key as it sounds. Episode 3 is filled with tips the hosts had to learn the hard way, and examples of how expectations are made to be broken.

After the decision was made to dive into the Short Term Rental deep end, Nathan and April found themselves confronting another challenge…actually buying a property!  Episode 2 outlines The Buying Experience; how they did it, who they worked with, and some of the tough decisions that had to be made.

It can be challenging to jump Into New Territory, especially when talking about real estate investment opportunities.  In this first episode of the series, Nathan and April talk about the first hurdles they had to overcome, a couple common misconceptions surrounding Short Term Rentals, and the line of decisions that lead them to buying their first rental property.