🏠The Top AirBnB Investment Picks & News | #003

Red-Hot Properties & News Coming Your Way! 🔥

AuthorAuthor

Troy Millett & PropGuy
June 24, 2024

Property Rundown

Today’s Insights

  • Top Investment Properties

  • Knowledge Rundown: Target the Right Audience: Attracting Dream Guests to Your Short-Term Rental 

  • Hot News: 10 Best Places To Buy a Beach House For a Short Term Rental

  • 5 Short Term Rental Tools to boost your productivity

New Releases

Welcome to a sophisticated Mediterranean-style home in the heart of Palm Springs, perfect as a primary city residence or a vacation retreat. This elegant property features 3 well-appointed bedrooms and 3 bathrooms, offering both luxury and comfort. The spacious living room boasts soaring ceilings and a cozy fireplace, creating an inviting atmosphere. An attached 2-car garage adds convenience. Private backyard oasis, complete with an app-controlled pool/spa combo amidst beautifully updated landscaping. Enjoy outdoor dining on the comfortable patio area with a BBQ setup, all enhanced by thoughtful recent hardscaping. The heart of the home is the expansive living room and gourmet kitchen, ideal for gatherings. The kitchen features granite countertops, ample storage, and modern appliances. The layout includes 2 en-suite bedrooms on the upper level and a versatile third room that can serve as an office/media/yoga space. A discreet laundry room keeps household tasks separate from the living area. Located in the secure, gated community of Terra Vita, residents have access to additional amenities such as a community pool, spa and BBQ area, all within close proximity to the vibrant downtown Palm Springs. This residence combines refined living with modern conveniences, a true gem!

🏠Quick Stats:

  • $700,000

  • 3 BR / 3BA

  • 1,706 sq/ft

đź’°Projections:

  • Average Daily Rate: $600

  • Occupancy Rate: 53%

  • Projected Revenue: $116,700/yr

  • Projected Operating Expenses: $29,200/yr

  • Projected Net Operating Income: $87,600/yr

  • Projected Gross Yield: 16.7%

Price Reduction

Welcome to Canyon Country Club Estados in South Palm Springs, in the fabulous Indian Canyons where views are plentiful. This wonderfully updated lower floor unit is in a fabulous location taking advantage of huge outdoor patio offering grand views of the surrounding mountains. Step inside and you will love this tastefully furnished condo offering 2 ensuite bedrooms separated by a large living room, a dining room, and a fully stocked kitchen ready for the chef in you. Best of all, this turnkey home even comes with bicycles to ride around town, games to enjoy with your friends, and much more. Canyon Country Club Estados offers 3 community pools and spas, a fitness center, a clubhouse, laundry, 5 tennis courts and 2 pickleball courts. The monthly HOAs of $647 cover trash, water, grounds, earthquake insurance. This property is on lease land ($373/month) until 2063.

🏠Quick Stats:

  • $297,000

  • 2 BR / 2BA

  • 1,170 sq/ft

đź’°Projections:

  • Average Daily Rate: $313

  • Occupancy Rate: 50%

  • Projected Revenue: $57,500/yr

  • Projected Operating Expenses: $14,400/yr

  • Projected Net Operating Income: $43,100/yr

  • Projected Gross Yield: 19.4%

Over 90 Days + Price Reduction

Don’t miss out on this rare opportunity to be close to the beach in Pirates Beach West in a 5 bedroom, 3 bath beauty w/ a Swimming Pool. Kitchen is complete with all appliances, utensils & even a breakfast table to entertain family & friends. The kitchen opens into the dining area with a dining table & open living area with built in cabinets, wet bar & wine fridge. Spend time on the expansive south facing partially covered deck enjoying the Gulf breezes or a sunset off the bay or west facing decks. The primary BR has its own en suite bathroom and private balcony. There are 3 additional bedrooms and one bunkroom to accommodate everyone. Enjoy the afternoon at the pool or under an umbrella pool side. There is plenty of space on the ground level for a picnic or outdoor games in the shade. Short walk or golf cart ride to the beach or Galveston CC. Make this your weekend getaway or short term vacation rental.

🏠Quick Stats:

  • $775,000

  • 5 BR / 3BA

  • 1,796 sq/ft

đź’°Projections:

  • Average Daily Rate: $795

  • Occupancy Rate: 48%

  • Projected Revenue: $140,000/yr

  • Projected Operating Expenses: $43,300/yr

  • Projected Net Operating Income: $96,800/yr

  • Projected Gross Yield: 18.1%

Knowledge Rundown

Target the Right Audience: Attracting Dream Guests to Your Short-Term Rental

In the world of short-term rentals (STRs), success hinges on attracting the perfect guest. Just like any business, understanding your ideal customer is key to crafting a winning strategy. By tailoring your listing and amenities to resonate with a specific audience, you can maximize occupancy rates, boost revenue, and create a more enjoyable experience for both you and your guests.

Who are you looking for?

The first step is defining your ideal guest profile. Consider factors like:

  • Age & Lifestyle: Are you targeting young adventurers, families with children, or retirees seeking relaxation? Each group has unique needs and preferences.

  • Travel Style: Do you envision digital nomads seeking a remote work haven, or luxury travelers craving high-end experiences?

  • Budget: Luxury amenities will attract guests willing to pay a premium, while budget-conscious travelers might prioritize affordability.

  • Interests: Does your location cater to outdoor enthusiasts, history buffs, or foodies? Consider local attractions and activities that align with your target audience's interests.

Tailoring Your Listing to Shine

Once you understand your ideal guest, use this knowledge to craft a compelling listing that speaks directly to them.

  • Highlight Relevant Amenities: Do you have a pool perfect for families? Mention it prominently. Advertise a workspace for remote workers.

  • Craft Compelling Descriptions: Don't just list features - paint a picture! Use descriptive language that evokes the experience your ideal guest desires.

  • Showcase the Right Photos: High-quality photos are crucial. Focus on showcasing amenities and features that resonate with your target audience.

  • Set the Right Tone: Use language that reflects your ideal guest's style. For families, emphasize a fun and welcoming atmosphere. For luxury travelers, highlight exclusivity and elegance.

Optimizing Your Guest Experience

Beyond the listing, cater your guest experience to your ideal visitor.

  • House Rules & Expectations: Clearly outline house rules that reflect your target guest's behavior. Are you okay with pets? Do you have noise restrictions?

  • Local Recommendations: Provide curated recommendations for restaurants, attractions, and activities that cater to your ideal guest's interests.

  • Welcome Amenities: Leave small touches that cater to your target audience. For families, provide children's toys or beach supplies. For remote workers, offer a coffee maker and office essentials.

The Power of Reviews

Positive reviews are gold in the STR world. When guests have an experience that exceeds expectations, they're more likely to leave glowing reviews that attract similar guests. This creates a virtuous cycle of attracting your ideal audience and building a strong reputation.

By understanding your ideal guest and tailoring your listing and experience accordingly, you can turn your short-term rental into a magnet for success. Remember, it's not about attracting everyone – it's about attracting the right people who will become loyal guests and rave about their stay.

Hot News

10 Best Places To Buy a Beach House For a Short Term Rental

Buying a beach house is dreamy enough on its own, but many owners also fantasize about the profits that await if they turn that shoreside property into a short term rental.

Beach house owners truly can have their cake and eat it too by renting out their property on Airbnb, VRBO, and other similar sites. However, not all beach towns are created equal in netting a high return on investment. To size up a short-term rental (STR) property’s true potential, real estate investors compare a home’s annual returns to what they’d have to pay for it—a ratio known as a property’s yield. Yield is the potential revenue divided by the home value.

Generally, the higher the yield, the better—and certain beach towns have better yields than others.

But even if the yield suggests that certain locales are a slam dunk investment, these numbers aren’t the only factor to consider. Many popular areas have enacted local STR regulations that make owning a rental costly, complicated, or nearly impossible to get.

So where are the best places to buy a beach house that are also solid money-making investments?

Continue Reading → Here

Productivity

5 Short Term Rental Tools to Supercharge Your Productivity

  1. Turno: Platform that connects hosts with cleaning services, automates cleaning schedules, and ensures properties are ready for new guests.

  2. Guesty: Mobile-first property management app offering tools for communication, task management, and multi-channel syncing.

  3. Hospitable: Automation tool designed to streamline communication with guests, manage reviews, and optimize listings across multiple platforms.

  4. Lodgify: Property management software that allows hosts to create their own booking websites, manage reservations, and synchronize listings across platforms.

  5. Beyond Pricing: Dynamic pricing software that uses market data to optimize rental rates, helping hosts maximize their revenue.

  6. Hostaway: A powerful tool for experienced vacation rental managers, offering advanced features like channel management, guest screening, and automated messaging.