🏠3 Top Short Term Rental Opportunities + News & HowTo's | #019

Today’s Insights

• Top Investment Properties

• Knowledge Rundown: 3 Part Series on Navigating the Business Side of Short Term Rentals - Part 2: Streamlining Operations for Efficiency

• Hot News: Mapped: The Most Visited U.S. National Parks

• Productivity: 5 Short Term Rental Tools to boost your productivity for Navigating the Business Side of Short Term Rentals.

New Releases

23 Sanchez Way, Hot Springs Village, AR 71909

New Construction in beautiful Hot Springs Village. Home features quality construction from Kimbrough Construction. Open floor plan in the living, kitchen and dining area. Beautiful heated and cooled sunroom to add to the beauty of this home. Builder has already picked out flooring, paint and interior. No changes can be made to the selections. Estimated completion date August 15, 2024

🏠Quick Stats:

• $385,000

• 3 BR / 2 BA

• 1,847 sq/ft

💰Projections:

• Average Daily Rate: $291

• Occupancy Rate: 50%

• Projected Revenue: $53,200/yr

• Projected Operating Expenses: $13,300/yr

• Projected Net Operating Income: $39,900/yr

• Projected Gross Yield: 13.8%

Price Reduction

7536 Crestview Dr, Tobyhanna, PA 18466

ULTRA MODERN CRESTVIEW CONTEMPORARY Seller Invested $100K+ in Renovations, Landscaping & Furnishings! Completely Renovated TURN-KEY Newly Fully Furnished 3BR 2BA Contemporary Home Features NEW Everything from NEW Lux Vinyl Plank Floors Throughout, NEW Modern Eat-In Kitchen w/ Premium Thick Black Alabaster Swirl GRANITE Counters, Breakfast Bar, Custom Cabinetry, Glazed Ceramic Penny Round Mosaic Tile Backsplash & NEW Stainless Steel Appliances! Unique Built-In LED Warm & Cool Tone Lighting on Vaulted Ceilings & Living Room Accent Wall w/ Black Monochrome Brick Fireplace! NEW 2-Panel Doors Throughout Including NEW Plantation Bi-Fold Closet Doors! Plus, NEW DECK & Newly Graveled Lot for Easy Maintenance! STR-Friendly Poconos Community! No Expenses Spared, Ideal for the Detail-Oriented Buyer & Move-In Ready w/ All BRAND NEW Furniture! A POCONO COUNTRY PLACE is a Gated Poconos Lake Community Offering 3 Clubhouses, 2 Lakes, 6 Basketball Courts, 6 Tennis Courts, 6 Playgrounds, 4 Pools, Miniature Golf, Beach, Kayaking/Canoeing & More! Located Near All Major Poconos Attractions & Close to All Shopping! Public Water & Public Sewer!

🏠Quick Stats:

• $295,000

• 3 BR / 2 BA

• 1,200 sq/ft

💰Projections:

• Average Daily Rate: $262

• Occupancy Rate: 42%

• Projected Revenue: $40,000/yr

• Projected Operating Expenses: $13,000/yr

• Projected Net Operating Income: $27,100/yr

• Projected Gross Yield: 13.6%

Over 90 Days + Price Reduction

115 Sundew Dr, East Stroudsburg, PA 18301

Welcome home to Penn Estates! A Fully renovated house in a woodland neighborhood with plenty of amenities for you to enjoy (pool, playground, clubhouse, tennis and basketball court, and lake). This 4 bedroom, two full-bathroom contemporary home has an open concept space equipped with skylight windows, a new kitchen, a balcony, and a deck, perfect for serene living or a profitable short-term rental..All Furniture Included! Close to I-80, this house is conveniently located for activities: shopping, casino, hiking, skiing, hunting, and fishing.

🏠Quick Stats:

• $305,000

• 4 BR / 2 BA

• 1,670 sq/ft

💰Projections:

• Average Daily Rate: $455

• Occupancy Rate: 37%

• Projected Revenue: $62,300/yr

• Projected Operating Expenses: $18,700/yr

• Projected Net Operating Income: $43,600/yr

• Projected Gross Yield: 20.4%

Knowledge Rundown

Navigating the Business Side of Short Term Rentals

Part 2: Streamlining Operations for Efficiency

Okay, so you've got the boring financial stuff figured out. Congrats! You're officially an adult. But now comes the fun part: actually running your rental. This isn't about fancy design or gourmet amenities (although those are nice). This is about the nitty-gritty of making sure everything runs smoothly, so you don't spend your life chasing your tail like a confused puppy.

The Black Hole of Cleaning

Let's talk about cleaning. It's like that never-ending pile of laundry that magically reappears every time you think you've conquered it. You could spend your entire life cleaning, or you could outsource it. I’m not saying you should become a total slacker, but if you can afford it, hiring a cleaning crew is like upgrading from a regular human to a time-traveling wizard.

Technology: Your New Best Friend

Technology is like that cool gadget you always wanted. It's shiny, it's fun, and it can save your life. Or at least, make your life a lot easier. Smart locks, for example, are like magic keys that let people in without you having to be there. It's like having a butler, but without the creepy mustache.

Then there's that magical thing called "automation." You can set up automatic messages, reminders, and even payments. It's like training a super-efficient robot to do your bidding. Just remember, robots can't replace your charm, so don't let them take over completely.

The Art of Delegation

You can't do everything yourself. It's a harsh truth, but it's true. You're not Superman (or Superwoman). You need a team. Maybe it's a friend who's good at fixing things, or a neighbor's kid who's willing to do some light cleaning for cash. Or, if you're feeling really fancy, you can hire a property manager. Just remember, even with a team, you're still the boss. So, be nice, but don't be a pushover.

Running a short-term rental is like herding cats. It's chaotic, it's stressful, and there's always something that needs your attention. But by streamlining your operations and using a little bit of technology, you can turn that chaos into something resembling order. And when you finally have a moment to relax by the pool (of your rental, not your own backyard), you can thank yourself for being such a brilliant businessperson.

Hot News

Mapped: The Most Visited U.S. National Parks

Visitor numbers have been steadily increasing across national parks in the U.S., as more people are opting to trade city skylines for mountain peaks and lush forests.

In 2023, U.S national parks welcomed 93.4 million visitors and saw a 4% year-over-year increase from 2022.

According to National Park Service data, national parks made up 28% of all visits out of all nationally-regulated park types, which includes national monuments, memorials, historic sites, and more.

This map visualizes the top 10 busiest national parks in the United States by number of visits in 2023. Visits includes recreational visits, and excludes non-recreational visits and camping.

Continue Reading → Here

Productivity

5 Short Term Rental Tools to Supercharge Your Productivity for Navigating the Business Side of Short Term Rentals

1. Guestly: This platform streamlines operations with features like automated messaging, dynamic pricing, and channel management.

2. QuickBooks: Efficiently manage income, expenses, taxes, and generate financial reports to understand your business's performance.

3. Smoobu: Streamline communication with guests, automate messages, and manage inquiries efficiently.

4. Beyond Pricing: Optimize your rental rates based on market demand, seasonality, and competitor pricing.

5. Jobber: Efficiently schedule cleanings, maintenance, and repairs, ensuring your property is always ready for guests.

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