Chris K STRs
@ChrisK_STRs
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Short Term Rental Investor 🏡🏖 / Small portfolio owner of STRs / Sharing many of the wins, tips and headaches of vacation rental ownership
Joined December 2012
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Pinned Tweet
🚨Short term rental cost break down 🌴 :
We recently went live with this resort style Airbnb
Some cost breakdowns of the pickelball / basketball court 👇
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STR 💡:
Use light house numbers for your STR.
Makes it easy for guests to identify and makes the home more luxurious for relatively low 💰
These lights would be in addition to having your main entrance well lit for late night guest arrivals.
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STR Headache 🤕
Guest checks in and turn AC down to 50 degrees …
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STR Headache 🥴:
A guest called yesterday and said that their dog has 💩’d in the pool. They tried to get it out but can’t.
Had to get pool company over for emergency service ($55).
The pool company told me that the 💩was too big to be from the guests dog…🤷🏼
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Airbnb Thought 💭
🏡 How can HOTELS compete with Airbnbs like this ?
Sleeps 12, privacy, heated pool, mini putt, outdoor dining and lounging area , free parking, free fast wifi etc . Average nightly rate of anywhere from $400-$1300 a night
Simple answer: They can’t
Agree…
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@schlaf
Bad hosts do this but has nothing to do with Airbnb. There are lots of quality hosts (like myself) who don’t require extensive cleaning at check out. Stay with one next time and your experience will be great!
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STR Headache 🤕
I got a 2 star review last year during hurricane Ian
As the hurricane path became more clear, we offered full refund to cancel, but the guest wanted to come anyways, then complained about power going out for days, with no AC and food spoiling in fridge 🤦🤣
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Current occupancy for 2023 for one of my FL properties🏖️:
Jan: 100%
Feb: 100%
March: 97%
April booked: 90%
May booked: 61%
June booked: 86% (7 day owner stay)
July booked : 19%
August booked : 16%
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🏡 Best feelings as an STR owner:
1- getting a high ADR booking
2- getting a 5 ⭐️ review from guest with glowing review
3- getting your payout $
4- covering all expenses by month 4 with the remainder of year net 💰
What am I missing ?
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Short Term Rental Thought 💭
Can hotels actually compete with certain types of short term rentals?
Right now, the answer is no. Airbnbs offer the privacy, amenities and pricing that hotels can’t provide …
Agree or disagree ?
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STR Thought 💭🤔
You have no idea what a guest needed to do to get to your short term rental.
It could be their one vacation for the entire year.
You MUST value the fact they've chosen you to take care of them.
Agree or disagree ?
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STR Tip:
Before your listing goes live, you should stay and experience your STR.
Lots of issues are discovered during this time that your guests would have to deal with if you didn't fix beforehand.
eg. Weak wifi signal in certain rooms, outlets not working etc.
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Want to own an STR?:
In the last few months:
-guests have 💩’d in the pool,
-pools have flooded
-house alarms have gone off with difficulty to disarm
-washing machines have broken
-1 stolen TV
The list goes on and on.
This is a glimpse into STR life
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STR Tip 💡:
If your STR is big enough and you have the space, consider adding a double washer and dryer.
Easier for housekeeper turn over , and not as big of an emergency when one washer or dryer is out of commission.
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⛳️Occupancy For one of my Southwest FL STRs:🏝
Went live mid June 2022:
June 2022: 66%
July: 90%
August: 71%
September: 73%
October: 32%
November: 83%
December: 65%
January 2023: 100%
February 2023: 100% (booked)
March 2023: 100% (booked)
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🚨Our latest short term rental “resort” that just went live 🏝️ !
Sleeps 16+ , pickelball, basketball, mini putt, playpen, corn hole, heated pool, indoor game room.
Excited to helping families create MEMORIES at this new property!
(Any feedback on pics is welcome)
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⛳️ For one of my new construction STRs in FL I added a mini putt area ⛳️
Cost around $10,300.
I’ve already received multiple positive comments in reviews about it.
Make sure you have top amenities at your STR that attract guests and make your property unique!
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STR Tip:
Make sure your STR kitchen has a pizza cutter. Often forgotten but guests love it when it's there. Make sure you have a nicely stocked kitchen for great reviews.
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@imrichardfertig
This is the problem with the industry as a whole and gives STRs a bad image. Too many guest stories like this !
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🏡 Best feelings as an STR owner:
1- getting a high ADR booking
2- getting a 5 ⭐️ review from guest with glowing review
3- getting your payout $
4- covering all expenses by month 4 with the remainder of year net 💰
5- Helping people create MEMORIES !
What am I missing ?
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Short term rentals are one of the most creative industries out there.
Agree or disagree ?
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🏡 Airbnb Thought 💭
Our pickelball property now up to 97% booked for March… just need the 1st of the month booked to get to 100%!
🏡 Airbnb Bookings 💭
🗓️ Our pickelball property bookings so far:
January: 43%
February: 28%
March: 80%
April: 30%
May: 26%
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🏡 Airbnb Thought 💭
The longer a guest stays in your Airbnb, the less you know about what’s going on IN your property ..
Higher guest turnover (one of the pros of short term rentals vs long term rentals) is that you get eyes 👀 inside the property often.
Agree or disagree ?
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🏡 ⭐️ Airbnb review goals (not my profile)
Came across this one.
Can anyone beat this ?
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Short term rental 🤕
Ordered 6 curtain rods (around $300)
Received a shipment of over 40 curtain rods….
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🏝️ One of my Florida STRs has moved up to
#7
out of 307 in the market for gross rev for 3 bedrooms.
Data only from 270 days out of 365 so I think it can finish the year in top 4.
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How much does it cost to furnish an STR?
It cost me around $31,000:
- 1700 sq ft.
-3 bed 2 bath
-pool / patio area / fire pit
-2 living rooms
-bonus game room
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STR TIP ✅:
Wifi:
Very basic but hosts still get this wrong:
ALWAYS get the fastest wifi speed available, yes pay the extra $ monthly- it's worth it.
Slow wifi quickly ruins your guest experience no matter how great your place is. (also have updated wifi router)
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🏖️April STR breakdown for one of my STRs in FL:
Rent+Pool heat fees: $7,296
Mortgage/Tax/Insurance: $2556
Landscaping: $80
Pool service: $240
Electricity: $305
Internet: $40
Capex: $280
Water/Garbage/Recycle: $307
NET: $3,488
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🏡 Short term rental thought 💭
Airbnb amenities > design
Agree or disagree?
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🏡 How much does it cost to furnish an STR?
It cost me around $33,000 for this one:
- 1700 sq ft.
-3 bed 2 bath
-pool / patio area / fire pit
-2 living rooms
-bonus game room
(Will be upgrading paint/accent walls soon)
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STR TIP ✅:
If you have multiple TVs in your STR, use the SAME TV Brand for all of them. Remotes are interchangeable which is a good thing as remotes get lost and break often.
Eg. If the living room TV remote goes missing, a guest can substitute another remote from a bedroom!
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STR Pro Tip ✅:
What another step towards guest leaving you a 5 ⭐️ review?
Make sure all of your bedrooms have BLACKOUT CURTAINS ‼️
Guests always comment on how much they loved them and made their sleep so much better
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🏡 Do STRs compete with hotels?
Mine don’t. I focus on larger homes, 3+ bedrooms that can host 8-16 people, families, larger groups etc.
Big backyards, amenities like large private pools 🔥
Hotels can’t offer this right now,
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STR 💡:
If you are unsure or on the fence about using a designer for your STR.
Get one!
They will come up with ideas / designs that you wouldn’t even think of and will make your STR more elite.
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☀️Pool Heater automation for STRs
Allows me to check, turn on, and adjust pool temperature remotely from my phone in less then 10 seconds. Saves so much hassle and time of needing someone to physically go to property
I would highly recommend any STR pool owner to get one 👍🏻
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Short Term Rental Tip ✅
If you own a short term rental , you are mainly in the HOSPITALITY business, not a real estate business !
Agree or disagree ?
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Staying in a hotel over the weekend. ADR $200+
This is how the dispensers for body wash, shampoo, and conditioner are hung. No alignment , spacing or attention to detail.
Makes everything feel cheap and lowers the guest experience.
Long high quality STRs.
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STR Pro Tip ✅
One of the more useful apps I use as an STR owner.
Thumbtack. Allows me to search for handymen, cleaners, furniture installers, plumbers, electricians etc who are also reviewed.
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Just got a current guest to extend their stay by 3 nights which brings me to 100% occupancy for Jan /Feb 🔥
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🏡 STR check in:
Had a last minute same day booking today for 4 nights, to bring my august occupancy up to 90% 🔥
The guests are celebrating a 50th birthday 🥳, and had to leave their current Airbnb because of poor experience…
I’ve also sent them a birthday gift basket !
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Wifi in your STR:
Very basic but hosts still get this wrong:
Always get the fastest wifi speed available, yes pay the extra $ monthly- it's worth it.
Slow wifi quickly ruins your guest experience no matter how great your place is. (also have updated wifi router)
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Airbnb Thought 💭🤔
You have no idea what a guest needed to do to get to your short term rental. ✈️ 🚂 🚗
It could be their one vacation for the entire year.
You MUST value the fact they've chosen you to take care of them.
Agree or disagree ?
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STR Headache 🤕:
Just got a 4 ⭐️ review.
Got to love the guests that don’t fully understand the review system!
Written review seems like it would be a 5 ⭐️ 🙄
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🌴 3 day booking yesterday got me up to 84% occupancy at one Florida STR
Just under 10k of gross revenue.
How’s everyone’s July looking?
Always a fire 🔥 month
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Is your STR able to handle tech and is it "charging" friendly?
Putting these charging stations on nightstands allows guests to easy charge all devices and makes for better experience.
Cost around 10-15$
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STR Headache 🤕
Sunday morning when guests checked out, we noticed that they hit and damaged the back flow pipes.
Water to house is shut off.
New guests checking in today.
🚨 Emergency plumbing service has to be called and luckily they were able to repair in time!
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STR 👍🏻:
How to get 5 ⭐️ reviews:
(Without having the “best” property)
1- accurate and honest listing
2- excellent guest communication
3- some sort of personal touch (eg. Gift basket, guidebook)
4-have a great Location
5- clean property
What else could go on the list?
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STR May breakdown for one of my homes in 🏝️ FL :
Gross Rev: $6,155.75
Mortgage/insurance/taxes : $2531.95
Landscaping: $80
Pool service: $264
Electricity: $222.06
Water/garbage/recycling: $507.04 (highest ever)
Internet: $39.99
Cleaners: 3 turns at $230 each
Net: $1,820.71
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STR June breakdown for one FL STR 🏝️:
Gross Rev: $7387
Mortgage/insurance/taxes : $2531
Landscaping: $80
Pool service: $264
Electricity: $250
Water/garbage/recycling: $451
Internet: $39
Capex: $0
Cleaners: 6 turns at $230 each
Net: $2,392
(does not include reserves)
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STR Tip ✅
These light switch blockers stop guests from turning switches on and off that need to be kept on.
Eg: outdoor light switches with dawn to dusk bulb sensors so light always go on at dark (well lit check in)
You can also hardwire but this is fast and easy solution
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Short Term Rental Headache 🤕
Want to be an Airbnb owner and operator?
Be prepared to go to the hardware store to replace screws for your foosball table players
The gurus forget to tell you about these issues during their passive income online course !
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STR Tip (that many hosts overlook):
Make sure your furnishings and fixtures accommodate your head count for your STR
bad examples:
-Dining table only seats 6 when the home sleeps 10.
-Bathroom only has 1 towel bar that 4 people are suppose to share.
-and so on..
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STR Tip 💡:
BUNKBEDS: 🛌
If you are going to put them into your STR make sure they are for adults, commercial grade, and have a high weight capacity !
400lbs+ each mattress minimum
I see too many top bunks marketed for adults that only have weight capacity of 200lbs 🚨
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STRs back on market 🚨
I‘m seeing some properties for sale in my markets that were purchased and operated as STRs for 1-2 years
Not cash flowing . Even though many of them have great reviews and are superhosts
But why?
Cont’d 👇
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Short Term Rental Headache 🤕
Got a guest request to rent one of our airbnbs for 2 nights over Halloween for a Halloween 👻 party
They said it would be a 75 person party.
We declined . The home normally sleeps 16.
Right or wrong decision?
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STR Tip💡:
Create an excel spreadsheet like this one with all shopping links to EVERYTHING purchased for your first STR.🔗
Continue to update as you scale, saving all the best items for each category.
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Short Term Rental Tip ✅
I offer these soft coolers for guests at my Airbnbs that are close to the beach.
Guests think it’s a nice touch to allow them to keep their drinks cold when they spend the day vacationing 🏖️ !
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@FitFounder
@schlaf
Too blanket of a statement. Hotel for 2 or less nights solo or one travel party is ok. Vacation or want a great experience with friend or family? AIrbnb every time.
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🏡 Airbnb Thought 💭
Why do RE agents use such terrible thumbnail photos for their MLS listing?
Why not take a page out of the short term rental playbook and make me want to actually click the listing?
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🚧 STR Renovation started :
Adding a pool and additional bedroom, bath, and large covered patio to one of my STRs in Florida. (From a 3 bed to a 4 bed)
These additions are projected to increase gross revenue by 55k annually
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STR thought 💭
Short term rentals vs long term rentals:
One of many differences is that the STRs are very labor and sweat heavy before going live.
You can’t just repaint some walls and list, like with many LTRs
Renovations, design, furnishings, adding amenities, photos etc
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STR 💡:
CURB APPEAL:
Don't underestimate the power of curb appeal for your short term rental - a welcoming exterior can make all the difference!
Boost your bookings and make a great first impression with potential guests 👍
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STR Tip ✅:
Digital Guidebooks for your STR:
So many advantages to using a digital guidebook,
One of the MANY cool features is the ability for guests to select their language.
A huge plus for markets with a lot of international travelers!
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STR Tip 💡:
Do NOT go cheap on mattresses for your STR.
Bad sleep = Bad guest experience
There are LOTS of great mattress brands to use, but I spend around $1100 for a king size for my STRs.
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@HeroDividend
Why so much Airbnb hate? Just book a hotel then and don’t even go to Airbnb site…. And when/ if you have a bad hotel experience please tweet about it like everyone does on Airbnb !
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STR Tip ✅
Make sure to have a blender stocked in your STR!
Guests love making margaritas and other cocktails while on vacation!
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STR Tip ✅
Things I offer my guests at my STRs that are in a beach 🏖️ market
-beach chairs, toys, wagons , beach umbrellas , kick boards
Guests don’t want to go out and buy these things when they go on vacation. Seems like minor amenities but they make a huge difference!
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STR TIP ✅:
If you have multiple TVs in your STR, use the SAME TV Brand for all TVs. Remotes are interchangeable which is a good thing as remotes get lost and break often.
Eg. If the living room TV remote goes missing, a guest can substitute another remote from a bedroom!
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STR 💡:
Put motion lights in dark areas for easy guest access and safety.
Under cabinets, garages, pantries, outdoor stairs.
These details make a difference with guest experience !
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STR Tip ✅ :
Make sure your STR kitchen has a pizza cutter.
Often forgotten but guests love it when it's there (and talk about it in reviews)
Make sure you have a nicely stocked kitchen for great reviews!
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Airbnb Pro Tip ✅
One of the more useful apps I use as a short term rental owner.
Thumbtack. Allows me to search for handymen, cleaners, furniture installers, plumbers, electricians etc who are also reviewed.
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STR Tip ✅
Label light switches when there are multiple, to help guests figure out which light turns on what.
It also shows the guest that the host has thought of the smaller details as well to make their stay a better experience.
Hospitality mindset.
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STR Tip ✅
I use standard size folding cribs for my STRs.
Easy to move around the place for guests to to use in different rooms and also easy to store.
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STR Tip ✅
Often forgotten item that every STR needs!
Ironing board and iron.
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🏡 Airbnb Tip ✅
Don’t forget to put luggage racks in all your bedrooms when furnishing your short term rental!
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STR Tip:
I attach these TV remote cables in kids rooms or for outdoor TVs where its easier to lose, throw, drop etc TV remotes.
Costs around $15 on amazon.
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STR 💡:
Epoxy for your STR garage floor is high ROI.
Cost ranges from a few hundred $ (DIY) to around $2,000.
Epoxy makes garage easier to clean , more durable, and enhances the appearance.
Also allows the garage to be used as game/play rooms, movie theatre, gym etc.
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STR Tip ✅:
How to stock your STR❗️
A good rule of 👍🏻 is at least 1.5 of “X” item for every guest.
Example:
8 guests = 12 coffee mugs
10 guests = 15 sets of utensils
And so on…
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STR Tip ✅
*I did this once and it worked great:
When mass ordering all your furniture before going live , place your online order by each room, and add the room name to your order so you can easily assign each box to appropriate room.
Enter room name as your middle name
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🐕🦺Pets in your STR💡:
Do you want to allow them? This is always a hot STR topic.
Only 39% of comparable STR properties in my market allow pets.
This means more bookings for me🔥 (and sometimes more headaches 💩)
Data from :
@rabbuhq
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🏡 STR Occupancy:
Currently at around 66% occupancy for one of my Florida STRs 🏝️ for August 2023.
How’s everyone’s august bookings looking?
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STR Tip 💡:
🏡If your STR is a house without a fence in backyard, consider installing a fence asap and reshoot new photos to update listing. I see many STR homes that can be upgraded by simply adding a fence
Families and pet owners want to stay at homes that are fenced in. 🔥
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STR Tip ✅:
What amenities can you offer at your STR that hotels won’t offer?
Eg. At my vacation rentals close to the beach, I provide beach gear, chairs, umbrellas, wagons, toys etc.
Seems obvious but guests always rave about the beach gear in the reviews !
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❓ What’s one thing you started doing at your primary residence after becoming a STR owner?
I started always having a back up propane gas tank for the grill at my primary
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STR Tip ✅:
I attach these TV remote cables in kids rooms or for outdoor TVs where its easier to lose, throw, drop etc TV remotes.
Costs around $15 on amazon.
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Short Term Rental ✅ 🏝️
Guest checking into today- turning up the pool heat 🔥
Pool automation allows me to control pool and light schedules remotely from my phone
Automate as much as you can with your short term rental!
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🏡 Airbnb Thought 💭
If you are traveling with a group of 6+ more for 3+ nights or more…. The best value for your stay will be a high quality Airbnb 99.99% of the time.
This is not up for debate !
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@PatrickEdgett
Agreed 100% but once you get to 3 nights or 3 or more people the value shifts towards a solid Airbnb ..
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STR Tip ✅
Want to be a short term rental owner?🏡
I just spent almost $3000 on pillows, protectors, sheets, blankets, and towels to furnish a 4 bed 3 bath short term rental.
Make sure these items are part of your underwriting!
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🏡 Being a good STR host:
One of the (many) differences between being a “great” and “average” host or PM is that average hosts rely on guests to find problems with a property whereas a good host finds them before the guest does .
Agree?
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STR 🏡 Renovation
Currently renovating a STR . Here are some of the Before / During/ After pictures of converting an old shower into a bathtub 🛁 !
Renovations = lots of headaches 🤕
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STR Tip ✅
Are you targeting families with children as your guests?
Ensure that your STR is accommodating to children by providing durable plates and cups that are suitable for toddlers and young kids. This will make your property more appealing and kid-friendly!
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STR TIP ✅:
I see a lot of nice STRs make this mistake‼️
Use a TV cord concealer for all of your flat screen TVs.
Makes your STR look cleaner and more professional!
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@gas_biz
This is a very blanket statement (obviously), and it can happen for 90% of owners. Quality STRs will continue to thrive.
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STR Tip: ✅
New STR going live soon? Take note and record serial and numbers of all appliances.
When 💩 goes wrong, you will need this info quickly 😎
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STR Tip ✅
DON’T over instruct your guests with signs
I just saw this
#Biggerpockets
insta post on how to create AirBnb instructions / rules signs, and I completely disagree- its too much
Post helpful information and have one area or binder of house rules and that's it!
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Short Term Rental Win 🔥
Just got this 5 ⭐️ review from a recent guest
This was a new Airbnb user , which is important.
Positive guest experience lifts the entire industry up for all owners, one reservation at a time. ✅
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