🏠Boost Your AirBnB ROI: Must-See Picks + News | #010

Today’s Insights

• Top Investment Properties

• Knowledge Rundown: 3 Part Series on Mastering the Art of Guest Attraction - Part 2: The Power of Reviews and Building Guest Loyalty

• Hot News: Visualized: Mid-Year Interest Rate Cut Forecasts for 2024

• 5 Short Term Rental Tools to boost your productivity

New Releases

632 E 69th Ter, Kansas City, MO 6413

Nestled in the heart of Kansas City's historic Brookside neighborhood, 632 E 69th Terrace presents a charming bungalow that effortlessly blends modern comfort with timeless appeal. Step into the spacious living room with hardwood floors and a welcoming fireplace, offering a cozy retreat year-round. The kitchen has stainless steel appliances and an island. The three bedrooms have beautiful hardwood floors and great natural light. The home is complemented by a full bathroom and also a powder room. Downstairs you'll find a finished walkout basement with space to make your own. Outside, a quaint front porch invites relaxation while the private backyard promises a serene space for outdoor gatherings. Additional highlights include the garage, basement storage, garden shed and mature landscaping. Enjoy the convenience of Brookside living with its tree-lined streets, local shops, eateries, and nearby parks, all within easy reach. Ideal for anyone seeking a quintessential Kansas City lifestyle, 632 E 69th Terrace awaits its next fortunate owner to embrace its warmth and character.

🏠Quick Stats:

• $389,000

• 3 BR / 2 BA

• 1,885 sq/ft

💰Projections:

• Average Daily Rate: $235

• Occupancy Rate: 54%

• Projected Revenue: $46,400/yr

• Projected Operating Expenses: $15,200/yr

• Projected Net Operating Income: $31,200/yr

• Projected Gross Yield: 11.9%

Price Reduction

310 W 39th St, Savannah, GA 31401

Don’t miss this stunning, updated 4 bedroom, 3.5 bath home where historic details were left intact! Beautifully restored hardwood floors with inlays and original moldings. Entertaining is a breeze in the bright gourmet kitchen with center island, quartz countertops, tile backsplash, stainless appliances with gas stove and pot filler. High end finishes in all 3.5 bathrooms. Dining area can flex into a guest suite with two closets and a full bath! Laundry is located on second floor. The climate controlled attic is finished and is perfect for a studio, playroom, home office or added storage! Enjoy spending time on one of the double decker back porches overlooking your private courtyard with enough room for parking! Newer mechanicals, roof & spray foam insulation. Walk to shopping, dining, Starland Yard and classes!

🏠Quick Stats:

• $650,000

• 4 BR / 4 BA

• 2,414 sq/ft

💰Projections:

• Average Daily Rate: $630

• Occupancy Rate: 56%

• Projected Revenue: $128,300/yr

• Projected Operating Expenses: $38,800/yr

• Projected Net Operating Income: $89,500/yr

• Projected Gross Yield: 19.7%

Over 90 Days + Price Reduction

1406 Hunter Ave, Columbus, OH 43201

Back on market after updates!! Built in 1890, this charming and unique three bedroom, one and a half bath cottage-style home is situated in the heart of Columbus! It showcases beautiful hardwood floors throughout and features an open Craftsman-style stairway that adds to its character. The expansive living and dining rooms boast bay windows, offering plenty of natural light, with the dining room further enhanced by an original built-in China cabinet. A spacious open kitchen with exposed brick and quality stainless steel appliances defines the rustic charm of the home. Upstairs, the home has three generously-sized bedrooms with natural wood floors and a full bath. If you're in search of a unique and charming abode, this opportunity shouldn't be missed!

🏠Quick Stats:

• $424,000

• 3 BR / 2 BA

• 1,626 sq/ft

💰Projections:

• Average Daily Rate: $263

• Occupancy Rate: 46%

• Projected Revenue: $44,400/yr

• Projected Operating Expenses: $16,200/yr

• Projected Net Operating Income: $28,100/yr

• Projected Gross Yield: 10.5%

Knowledge Rundown

Mastering the Art of Guest Attraction Series

Part 2: The Power of Reviews and Building Guest Loyalty

In the first part of this series, we explored the art of crafting captivating listing descriptions to attract new guests to your short-term rental. Now, let's shift focus to the importance of guest reviews and building guest loyalty for sustained success in the competitive short-term rental market.

The Power of Reviews:

In today's digital age, online reviews hold immense power. Potential guests often rely on reviews from previous guests to make informed booking decisions. Positive reviews build trust and credibility, showcasing your commitment to providing a fantastic guest experience.

The Impact of Reviews:

Here's how positive reviews can benefit your short-term rental business:

• Increased Bookings: Positive reviews can significantly increase your booking rates. Studies show that potential guests are more likely to book a rental with a high number of positive reviews.

• Improved Ranking on Listing Platforms: Many listing platforms use review scores as a factor in search algorithms. Positive reviews can boost your listing's visibility and ensure your rental appears higher in search results.

• Enhanced Brand Reputation: A consistent stream of positive reviews reinforces your brand reputation as a reliable and trustworthy host, attracting more guests in the long run.

Encouraging Positive Reviews:

Here are some strategies to encourage satisfied guests to leave positive reviews for your short-term rental:

• Prompt Guests Politely: After a guest's stay, send a polite and personalized message thanking them for choosing your rental. Include a gentle reminder to leave a review on your listing platform.

• Make it Easy: Provide clear instructions on how to leave a review, including a direct link to your listing's review section.

• Deliver an Exceptional Experience: The best way to encourage positive reviews is by providing an exceptional guest experience from the moment they book until their departure. This includes:

  • Clear Communication: Maintain clear and timely communication throughout the reservation process and during the guest's stay.

  • Accurate Listing Information: Ensure your listing accurately describes your rental and avoids any surprises for guests upon arrival.

  • Clean and Well-Maintained Space: Provide a clean, comfortable, and well-maintained space that meets or exceeds guest expectations.

  • Thoughtful Amenities: Offer additional amenities that enhance the guest experience, such as coffee, toiletries, or local recommendations.

Responding to Reviews:

It's equally important to develop a system for responding to all reviews, both positive and negative.

• Responding to Positive Reviews: Thank guests for their kind words and highlight positive aspects of their review. You can also use this opportunity to showcase your appreciation for their business.

• Responding to Negative Reviews: Address negative reviews promptly and professionally. Acknowledge the guest's concerns, apologize for any shortcomings, and outline how you plan to address the issue to prevent it from happening again.

Building Guest Loyalty:

Positive reviews are an excellent starting point, but fostering guest loyalty goes beyond just securing a single booking. Here are some strategies to encourage repeat business:

• Loyalty Programs: Consider implementing a loyalty program that rewards repeat guests with discounts or special offers for future stays.

• Early Access to Bookings: Offer returning guests early access to booking windows for popular dates or upcoming seasons.

• Personalized Touches: Leave a handwritten welcome note or a small gift for returning guests to show appreciation for their loyalty.

• Maintain Communication: Even after a guest's stay, you can stay connected by sending them occasional emails with special offers or updates on your property.

By demonstrating your commitment to providing a stellar guest experience and creating a welcoming environment, you can foster guest loyalty and encourage repeat bookings. This not only translates to increased revenue but also strengthens your reputation as a trusted host within the short-term rental community.

Stay tuned for Part 3 of this series, where we'll explore strategies for expanding your reach and attracting new guests through alternative booking platforms and marketing strategies!

Hot News

Visualized: Mid-Year Interest Rate Cut Forecasts for 2024

Today, many institutions are trimming back their rate cut expectations given strong labor market data and slow progress on inflation.

At the beginning of 2024, several banks forecasted five or more interest rate cuts over the year, while the median projection for Federal Reserve policymakers was three quarter-point cuts by fiscal year-end in March. Now, it has pared this back to one rate cut this year.

Continue Reading → Here

Productivity

5 Short Term Rental Tools to Supercharge Your Productivity

1. CopyBlogger: Offers tips and strategies for writing effective and engaging content, including headlines and descriptions that grab attention.

2. HubSpot Blog: Provides a wealth of resources on marketing and content creation, including guides on writing persuasive descriptions.

3. Hemingway Editor: This tool helps you simplify your writing, making it clear and engaging. It highlights complex sentences, passive voice, and other areas that might need improvement, ensuring your descriptions are concise and easy to read.

4. CoSchedule Headline Analyzer: A tool that helps you craft powerful and engaging headlines and descriptions by analyzing their effectiveness.

5. ProBlogger: A site dedicated to helping bloggers and content creators improve their writing skills and create compelling content.