🏠3 Top Short Term Rental Opportunities + News & HowTo's | #029

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Today’s Insights

• Top Investment Properties

• Knowledge Rundown: 3 Part Series on Setting Up a New Airbnb: From Concept to Launch - Part 3: Listing and Launching Your Airbnb

• Hot News: U.S. Market Review: July Sees Occupancy Growth Despite Rate Challenges.

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

New Releases

5028 W Ohio St, Chicago, IL 60644

Welcome to this beautifully updated home in the Austin neighborhood! Interior Features: Recently painted inside and out (2023) New hardwood flooring (6 months old) Custom kitchen cabinets with stainless steel appliances New farm sink, dishwasher, and quartz countertops New backsplash and extended kitchen white cabinets All new light fixtures New furnace, A/C, plumbing, and electrical systems New window shades and windows installed (2021) Basement waterproofed and fully finished with new flooring, doors, and windows Foam insulation throughout the home ADT security system on all windows Exterior Features: Tuckpointing completed Backyard trees removed Front and back porch updated New gutters installed New back gate and freshly laid grass (2023) Beautiful gazebo for summer enjoyment 2.5 car garage. This meticulously cared-for home is ready for you to move in and enjoy all its modern updates and conveniences.

🏠Quick Stats:

• $420,000

• 4 BR / 2 BA

• 2,000 sq/ft

💰Projections:

• Average Daily Rate: $329

• Occupancy Rate: 45%

• Projected Revenue: $53,900/yr

• Projected Operating Expenses: $15,300/yr

• Projected Net Operating Income: $38,600/yr

• Projected Gross Yield: 12.8%

Price Reduction

76 Quiet Oaks Dr, Sunrise Beach, MO 65079

Make this beautiful property yours before the summer ends! Looking for deep water in a no-wake cove with stunning main channel views? Look no further! This updated lakefront home, completely remodeled in 2023, is ready to impress with 1,750 sqft of living space, perfect for entertaining family and friends. Enjoy the multi-tiered deck overlooking the water and your own private covered dock with a lift included. The detached garage/carport offers plenty of storage for all your toys during the off-season. All appliances are included. Don’t miss this opportunity to own a slice of paradise! Looking for an investment property?

🏠Quick Stats:

• $485,000

• 3 BR / 2 BA

• 1,750 sq/ft

💰Projections:

• Average Daily Rate: $292

• Occupancy Rate: 50%

• Projected Revenue: $53,800/yr

• Projected Operating Expenses: $18,600/yr

• Projected Net Operating Income: $35,200/yr

• Projected Gross Yield: 11.1%

Over 90 Days + Price Reduction

421 S Randolph St, Indianapolis, IN 46201

City Living with a short walk away from Fountain Square strategically placed to give easy access to downtown Indianapolis. This new custom built home in 2024 sits among many new builds. 4 bedroom 2.5 bath. Modern design and impeccable attention to detail, this home boast open-concept layouts, ample natural light, and high-end finishes throughout. Coffered high ceiling, ceramic tile and remote fireplace in Great Room. Luxury kitchen offers wood beam ceiling, counter space galore, a center eat-at island, SS appliances & gas range with vented hood, quartz countertops, tile backsplash, gold polished fixtures, and generous dining space. Spacious master suite presents diamond ceramic tile floor in master bath & luxurious tile shower with custom walk in closet. Lovely covered back patio with ceiling fan, outside lighting and spacious yard partially fenced for entertaining family friends or for pet lovers and garden friendly.

🏠Quick Stats:

• $499,000

• 4 BR / 3 BA

• 2,654 sq/ft

💰Projections:

• Average Daily Rate: $323

• Occupancy Rate: 51%

• Projected Revenue: $60,300/yr

• Projected Operating Expenses: $15,100/yr

• Projected Net Operating Income: $45,200/yr

• Projected Gross Yield: 12.1%

Knowledge Rundown

Setting Up a New Airbnb: From Concept to Launch

Part 3: Listing and Launching Your Airbnb

Showtime

Alright, my fellow Airbnb architects, you’ve found the perfect property, decked it out with some killer design, and now it’s time for the big moment: launching your listing. This is your rental’s debut into the world – like the opening night of a Broadway show, but with less jazz hands and more strategically placed throw pillows. This is where all your hard work gets noticed (and booked), so let’s make sure your listing doesn’t just stand out – it shines. Ready? Let’s go.

Crafting a Standout Listing: Say It, Show It, Sell It

Your Airbnb listing is your rental’s dating profile – you want to show off the best version of your property while keeping things real. No catfishing allowed here, folks. If guests show up and your place doesn’t look like the photos, you’re going to be dealing with more angry reviews than a one-star Yelp restaurant.

First up: Photos. They are the most important part of your listing. People scroll fast, and great photos will make them stop, click, and book. No, your iPhone is not good enough for this – invest in professional photography. Highlight the best angles, natural light, and those Instagrammable details (you know, the cozy nook with the throw blanket and the cute coffee mug). Pro tip: Shoot during the day to maximize natural light, and focus on clean, clutter-free shots that show how open and inviting the space is.

Next, the headline. This is your hook. “Charming 2-Bedroom Cottage Near Downtown” is okay, but yawn. Let’s spice it up. Think “Bright, Cozy Cottage with City Views and a Secret Garden.” You want potential guests to feel intrigued, curious, and a little bit jealous of whoever books it before they do.

And then, of course, there’s the description. Here’s where you paint a picture with words. Don’t just list the facts – tell a story. Describe the experience. “Wake up to sunrise views in this cozy, light-filled cottage. Enjoy your morning coffee in the peaceful garden before heading into town for a day of exploration.” Get them dreaming about their stay. Highlight key amenities (fast Wi-Fi, a fully stocked kitchen, Netflix, a fire pit, whatever makes your place special), but don’t let it sound like a bullet point résumé. Keep it engaging.

Setting Your Pricing Strategy: The Goldilocks Approach

Now let’s talk pricing – you don’t want to scare people off with sky-high rates, but you also don’t want to leave money on the table. So how do you find that just right price?

Start with some recon. Look at similar listings in your area – what are they charging? Consider your property’s unique features and adjust accordingly. If you’ve got a rooftop deck with killer views, that’s worth more than the average space. At the same time, if you’re just starting out and don’t have any reviews yet, it might be worth pricing a little lower to attract your first guests and build momentum.

Dynamic pricing tools (like Airbnb’s Smart Pricing or third-party apps like Beyond Pricing) are great for adjusting rates based on demand, seasonality, and local events. Let them help you maximize bookings while ensuring you’re not selling yourself short.

First Impressions Matter: The Grand Opening

Alright, the moment has arrived: launch time. You’re about to go live, but there’s one thing left to do: make sure everything is perfect for your first guests.

Before launching, walk through your property as if you were a guest. Is everything spotless? Are the towels fluffy? Is the Wi-Fi blazing fast? The first few guests will set the tone for your reviews, so make sure their stay is flawless. Leave a little welcome note, some local snacks, or a guidebook to the area – these small touches go a long way in creating positive first impressions.

Once you’ve got your first booking, don’t just cross your fingers and hope it goes well. Communicate with your guests. Send them a friendly check-in message to make sure everything is good, and be responsive if any issues arise. After their stay, kindly ask for a review. Those first few five-star reviews will help boost your listing’s visibility and credibility.

Putting It All Together

Launching your Airbnb is like sending your baby out into the world. You’ve nurtured it, polished it, and now it’s time to let it shine. Craft a standout listing with killer photos, a compelling description, and smart pricing. Then, make sure your first guests have an experience so great that they can’t wait to tell the world.

Remember, a successful launch is all about the details. Nail them, and your Airbnb will be well on its way to superstar status. Showtime, baby.

Hot News

U.S. Market Review: July Sees Occupancy Growth Despite Rate Challenges.

In July, the U.S. short-term rental (STR) market saw the highest ever number of listings and demand nights, and for the third month in a row increased occupancy on a year-over-year basis. Despite available listings reaching over 1.7 million during the month, the occupancy rate of 68.1% was the highest monthly occupancy since July of 2022, and only slightly lower than the pre-pandemic July 2019 occupancy rate (-0.6%). 

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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