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168. Increase Your STR Wealth with These Takeaways

Uncategorized Jun 17, 2022

We recorded this episode right after getting off the plane from Nashville, where we attended STR Wealth Conference. It was so amazing seeing our friends, colleagues, and listeners face to face. On this episode we’re sharing some of our big insights from the conference, and some key takeaways that our members also shared from their conference experience.

 

  • Setting your listing apart from the competition might not require an expensive refab; decor and interior design can help your listing pop and lead to more revenue.
  • STRs are not passive income! Even if you create the minimal workload, you still have to check in on your assets, your team, and have some oversight on your property.
  • Electric car charging stations are becoming more and more standard for rentals. You only need one per property (if you have multiple rentals on the same property); and, this is a lucrative addition as you can make extra money from travelers who may be looking for charging spots while on the...
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#STRShareSunday: the Evergreen Cottage

strsharesunday Jun 13, 2022

It's time for #strsharesunday! Today we are sharing the Evergreen Cottage in Marietta, Georgia! Their link in bio takes you directly to their direct booking site (you know how much we love that), and guess what? They are BOOKED for the whole summer and early fall! But... there's a waitlist, and a prompt for anyone browsing their website to get on it. LOVE that!

We noticed that on both their IG and direct booking site that they have a virtual tour, and this was the first time we've seen this in on of our #strsharesunday picks! What a great way to spatially conceptualize a space!

Video is the future, people! Get on it!

The Evergreen Cottage on Instagram

Book the Evergreen Cottage Directly

We would love to feature YOU, so don’t forget to use #STRShareSunday to get your chance!

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167. 3 Ways You’re Leaving Money on the Table in Your STR

Uncategorized Jun 09, 2022

This episode may be a bit controversial, but we’re here for it. There is extra work and extra costs associated with any short-term rental, and we believe this is work you should be charging for. After all, you’re not a hotel; if you’re running an STR, you don’t have the same flexibility as hotels do, and when extra requests lead to more work or put a strain on your team (or yourself), you should include fees to compensate for this.

So, here are 3 ways you may be leaving money on the table with your STR:

1. Early check-in and late check-out fees

Whether you’re a solo operator with a small team or running a business with multiple properties and a larger team, early check-ins and late check-outs can interrupt your normal flow of business with your rental.

If your property is ready and there’s no previous booking, absolutely accommodate your guest and let them in early. But–when you have back to back bookings and need to coordinate with your...

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#STRShareSunday: the Green Chickadee

Uncategorized Jun 06, 2022

It's time for #strsharesunday! Today we are sharing @thegreenchickadee

As you may have already guessed, there are hints of green all over this adorable cottage, located right next to the Appalachian Trail (and they specifically make note of where on the train in their listing for all hikers and potential guests!)

We love how they have stayed on theme and woven in green all over the house without being too in-your-face about it... right down to their green heart emoji bullet points in their listing.

What we love is that they let potential guests know they are working on landscaping and projects outside the house, and that they will coordinate with their guests to avoid inconvenience as much as possible. Always be transparent in your listing! As we talked about in this week's episode, properties are living, breathing organisms that need maintenance and upkeep, so if you're working on something, keep it real with your guests and let them know!

the Green Chickadee on Instagram

the...

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166. Tips for Managing Expected (and Unexpected) Maintenance

Uncategorized Jun 02, 2022

Maintenance is always a hot button issue in the STR world. Let’s face it, properties are living, breathing organisms. They are constantly changing and in need of our love and attention. Unfortunately, we can’t always predict when that love and attention is needed, forcing us to schedule service, at times, during a guest’s stay.

Today’s episode is all about managing the super important communication around this particular quirk of STR life. We touch on trash pickup and drop off protocols, lawn care appointments, on-site technician visits, pool and spa repairs, and refund scenarios before running down a full list of other equipment and assets which you can schedule preventative maintenance for – all in hopes of avoiding disruptions to your bookings.

The key here is communication. We recommend being open with these kinds of details on your listing page and in the rental agreement itself – even pushing alert messages to on-site guests when a service...

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#STRShareSunday: Twisted Leaf Cabin

strsharesunday May 29, 2022

It's time for #strsharesunday! Today we are sharing Twisted Leaf Cabin!

I think it's time we take a visit to Broken Bow because there are so many amazing STRs there!

They've done such an amazing job branding their space. We noticed while scrolling through the pictures that they have branded koozies, branded corn hole boards, etc.

YOU ARE YOUR BRAND . Remember that! They're also on TikTok... so don't sleep on TikTok!

They also have such an awesome coffee space, something near and dear to our hearts and a word of advice: diversify your coffee and make sure your put time and effort into creating the coffee station for your space!

Twisted Leaf Cabin on Instagram

Twisted Leaf Cabin on AirBnb

Twisted Leaf Cabin on TIkTok

We would love to feature YOU, so don’t forget to use #STRShareSunday to get your chance!

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165. Double Your Bookings with This STR Listing Strategy

Uncategorized May 27, 2022

How can you ethically list your large rental twice to make the most of a bigger property?

In Sarah’s example, we split a fourplex in two by installing quality door locks on the two upstairs bedrooms, and listing the property twice: one listing with 4 bedrooms for 8 guests, and the other with 2 bedrooms for 4 guests.

With this setup, you can still make the most of your property based on the time of year and local events, by prioritizing the larger listing and making the smaller version unavailable. Then, open up the small listing on select dates or for last-minute bookings.

To get the most out of this type of multiple listing (also called a parent-child listing):

  • Offer a lower cleaning fee on the smaller listing version
  • Avoid automatically-locking door locks
  • Be sure there aren’t major amenities behind the locked door(s), like a WiFi router or fire extinguisher
  • Link your calendar for both listings in Airbnb so that when it gets booked, it automatically blocks off dates...
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#STRShareSunday: the Blank Farmhouse

strsharesunday May 22, 2022

It's time for #strsharesunday! Today we are sharing the Blank Farmhouse!

The sisters behind this gorgeous property also own and operate a photography and videography studio -creating a gorgeous place for people to share and enjoy seems fitting for this dynamic duo!

This farmhouse welcomes guests who are looking for over night stays or intimate team off-sites and photoshoots!

We love all the amenities they offer from a gorgeous pool to an on-brand wood burning stove, you can tell guests of The Blank Farmhouse are pampered!

Check them out, give them some love, pay attention to every single detail in each of their rooms, and add this place to your wishlist!

The Blank Farmhouse on Instagram

The Blank Farmhouse on AirBnb

TheBlankFarmhouse.com

We would love to feature YOU, so don’t forget to use #STRShareSunday to get your chance!

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164. Getting Scrappy to Start Investing in Real Estate with Dr. Erin Hudson

Uncategorized May 20, 2022

One of the most frequent questions we get asked is "How do I even begin to think about buying my own STR if I don't have enough capital for a down payment?!" In this week's episode, our guest, Dr. Erin Hudson shares how she got scrappy when she decided to invest out of state with zero investing experience. If you're looking to get inspired this is the podcast episode for you!

Dr. Erin Hudson went from being in private practice to moving into single-family investment properties, short-term rentals, and then jumped into the multifamily space and is making big waves! She is one of five founding partners of Quattro Capital, which is an equity real estate firm that buys apartments ranging from 30 units to 250 units. Erin is also a licensed financial professional and helps others create their own family bank to fund their real estate transactions. She is on a mission to help women kick fear to the curb and step out in courage.

We discuss how she got started in the early stages of...

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#STRShareSunday: Stoney Creek Hideaway

strsharesunday May 15, 2022

It's time for #strsharesunday! Today we are sharing Stoney Creek Hideaway!

The attention to the outdoor space blew us away!

From the breathtaking architecture to the covered outdoor fireplace -we are itching to hit the road, grab the nearest blanket, make hot cocoa and chill at Stoney Creek Hideaway!

When a brand can pull you in with their photos and make you already feel relaxed before you even arrive -we can’t even imagine how much they pamper their guests once they’re physically there!

Check them out, give them some love, pay attention to every single detail in each of their rooms, and add this place to your wishlist!

Stoney Creek Hideaway on Instagram

Stoney Creek Hideaway on AirBnb

We would love to feature YOU, so don’t forget to use #STRShareSunday to get your chance!

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