🏠3 Top Short Term Rental Opportunities + News & HowTo's | #022

Today’s Insights

• Top Investment Properties

• Knowledge Rundown: 3 Part Series on Maximizing Your Short Term Rental Profits - Part 2: Enhancing Guest Experience

• Hot News: Ranked: The Richest Suburbs in America

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

New Releases

1326 Farmington Dr, Traverse City, MI 49696

Enjoy all of the amenities of Traverse City without the congestion of city traffic in this surprisingly spacious four bedroom ranch home in the lovely, serene Birmley Estates subdivision just south of downtown. The large parcel features an inviting covered front porch, with a beautiful in-ground pool, and multiple decks in the private, fenced-in back yard, with country views. The thoughtful interior layout begins with the kitchen, a fresh, open space with ample storage, quality cabinets, closed pantry, granite counter tops and updated appliances. Natural light pours through the rear windows and sliding back deck door, showcasing the gorgeous bamboo flooring throughout the main floor dining and living rooms, master bedroom and hallway leading to the laundry room. The lower level features two bedrooms, a full bath, private office, hobby room, family room, substantial hidden storage areas and hobby room. Access the covered patio leading to the backyard oasis through the large sliding glass door wall. Store lawn equipment and water toys in the attractive rear situated shed, leaving room for two cars in the attached garage with divided tool/workshop. This unique property is priced to sell and ready for new owners!

🏠Quick Stats:

• $475,000

• 4 BR / 2 BA

• 2,443 sq/ft

💰Projections:

• Average Daily Rate: $369

• Occupancy Rate: 48%

• Projected Revenue: $64,100/yr

• Projected Operating Expenses: $20,300/yr

• Projected Net Operating Income: $43,800/yr

• Projected Gross Yield: 13.5%

Price Reduction

7110 Westway Cir, Knoxville, TN 37919

Amazing cottage home in Rocky Hill area. Charming street, lots of historic cottage homes with flowers to match. Sweet little neighborhood in a central West Knoxville location. Home is in a cul-de-sac. Private yard. This house has it all in Rocky Hill Built in 1965, this cutie has been totally updated to include plank-style flooring, a new kitchen, new lighting and so much more. Your new kitchen includes an under-counter microwave, tons of prep space for holiday meals, a farmhouse sink and new white cabinets. Ideal for entertaining guests in this beautiful open space.

🏠Quick Stats:

• $635,000

• 4 BR / 3 BA

• 2,664 sq/ft

💰Projections:

• Average Daily Rate: $338

• Occupancy Rate: 68%

• Projected Revenue: $84,400/yr

• Projected Operating Expenses: $25,100/yr

• Projected Net Operating Income: $59,300/yr

• Projected Gross Yield: 13.3%

Over 90 Days + Price Reduction

1512 Ridgmar Blvd, Fort Worth, TX 76116

SELLER HAS OFFERED A 2-1 INTEREST RATE BUY DOWN! Introducing a beautifully renovated home ideally situated in a prime location, surrounded by shopping, dining, and cultural attractions. This residence features an open-concept layout and a chef's kitchen with custom cabinetry, stainless steel appliances, and a spacious quartz countertop with a butcher block island. The master suite boasts a large walk-in closet and a luxurious marble-tiled bathroom with dual vanities, a soaking tub, and a custom shower. Outside, enjoy a private backyard with mature trees and large covered patio. Updates include a new roof, windows, plumbing, electrical, exterior doors, paint, and flooring, making this home both stylish and functional. Experience modern living at its finest in this meticulously updated property.

🏠Quick Stats:

• $460,000

• 3 BR / 2 BA

• 2,052 sq/ft

💰Projections:

• Average Daily Rate: $237

• Occupancy Rate: 60%

• Projected Revenue: $51,800/yr

• Projected Operating Expenses: $18,700/yr

• Projected Net Operating Income: $33,000/yr

• Projected Gross Yield: 11.3%

Knowledge Rundown

Maximizing Your Short Term Rental Profits

Part 2: Enhancing Guest Experience

Enhancing Guest Experience: The Secret Sauce to Stellar Reviews

Alright, team, buckle up because today we’re diving into the world of guest experience. This isn’t just about giving your guests a place to crash. No, no, no. We’re talking about creating an unforgettable stay that makes your guests want to write you glowing reviews, tell their friends, and come back for more. Think of it as crafting the perfect recipe for hospitality. Let’s get cooking.

Interior Design: Turning Meh into Wow

First up, let’s talk about interior design. You might be thinking, “I’m not an interior designer!” Well, you don’t have to be. The goal is to create a space that’s comfortable, functional, and has a bit of personality. Imagine you’re setting up your place for your best friend – you want them to walk in and think, “Wow, this place is awesome!”

Start with the basics: clean, comfortable furniture, good lighting, and functional spaces. Then add some flair. Maybe it’s a quirky piece of art, a bold accent wall, or a cozy reading nook. The key is to create a space that feels welcoming and unique. And don’t forget the small details – fresh flowers, fluffy towels, and a well-stocked kitchen can make a world of difference.

Personalized Touches: The Little Things Matter

Next, let’s sprinkle in some personalized touches. These are the little things that show your guests you’ve put thought into their stay. Think about what would make you feel special if you were the guest.

Leave a welcome note with some local treats. Provide a guidebook with your favorite local spots – the best coffee shop, a hidden gem of a restaurant, or a beautiful hiking trail. Stock the bathroom with high-quality toiletries. And if you know a bit about your guests – maybe they mentioned a special occasion in their booking – acknowledge it. A small gesture, like a bottle of wine for an anniversary, can make a huge impact.

Guest Communication: Keeping the Conversation Flowing

Now, let’s talk about communication. This is where you can really shine. Great communication starts before your guests even arrive. Send them a warm, informative message confirming their booking and providing all the details they’ll need for check-in. Be proactive – answer any questions they might have and offer helpful tips about the area.

During their stay, check in with them (without being intrusive). A simple message to make sure everything is going smoothly can show you care. And after they leave, follow up to thank them for their stay and invite them to leave a review.

Be responsive – if something goes wrong, address it quickly and professionally. A prompt, helpful response can turn a potential negative experience into a positive one.

Putting It All Together

So, what’s the secret sauce for enhancing guest experience? It’s a mix of thoughtful design, personalized touches, and stellar communication. Create a space that’s comfortable and unique, show your guests you care with little gestures, and communicate openly and warmly.

Remember, the goal is to make your guests feel at home, while also giving them a memorable experience they’ll want to share. It’s about turning a simple stay into a story they’ll tell their friends and family. When you get it right, you’ll see it in your reviews, your bookings, and your repeat guests.

So go ahead, sprinkle some magic into your guest experience, and watch your rental shine.

Hot News

Ranked: The Richest Suburbs in America

New York, California, and Texas are home to most of the wealthiest suburbs in the United States.

This graphic ranks the top 10 wealthiest suburbs in America based on data compiled by GoBankingRates.

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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