🏠Boost Your AirBnB ROI: Must-See Picks + News | #017

🔥 WA | MI | CA | Red-Hot Properties & News Coming Your Way! 🔥

Author

PropGuy
July 26, 2024

Property Rundown

Today’s Insights

  • Top Investment Properties

  • Knowledge Rundown: 3 Part Series on Creating Unique Experiences - Part 3: Leveraging Technology for Personalized Experiences

  • Hot News: Mapped: The Salary Needed to Buy a Home in 50 U.S. Cities in 2024

  • Productivity: 5 Short Term Rental Tools to boost your productivity for Creating Unique Experiences

New Releases

Escape to the beach & enjoy this beautiful 4 bedroom home that is just a few moments stroll to the sand. In the best neighborhood in Westport stands this tried and true vacation rental. This property is a guest favorite and has a solid booking history. Built in 2008 the home makes a solid investment and would make a wonderful primary home. Views of the ocean from the third floor luxury shower make waking up here a dream. You can soak in the sunset glow and the sound of the ocean from the large deck and enjoy all the natural light from the wall of windows on the main floor. There are two sets of washer & dryer making laundry turn over easy. Hot tub included, and furnishings can be negotiated. Rental history available upon request.

🏠Quick Stats:

  • $575,000

  • 4 BR / 3 BA

  • 2,000 sq/ft

💰Projections:

  • Average Daily Rate: $373

  • Occupancy Rate: 58%

  • Projected Revenue: $78,400/yr

  • Projected Operating Expenses: $19,600/yr

  • Projected Net Operating Income: $58,800/yr

  • Projected Gross Yield: 13.6%

Price Reduction

Welcome to this spacious 4 bedroom, 3 bath home nestled on 1.45 acres, on a corner lot with a nicely landscaped yard. Home features large updated kitchen with a pantry, formal dining room, living room, family room and office. There is a huge master suite on the main level with walk-in closets. Home has tons of storage with walk-in attic and partial basement. Enjoy the comfort of natural gas furnace, central air and the security of a backup generator. This home features a 2-car garage, paved road/ driveway and 2 story shed providing ample space for vehicles and storage. Perfectly situated near town, ORV trails and Lake Missaukee, outdoor enthusiasts will appreciate easy access to adventure and recreation. With its generous lot size and desirable amenities, this property offers a wonderful opportunity for comfortable family living.

🏠Quick Stats:

  • $389,900

  • 4 BR / 3 BA

  • 3,332 sq/ft

💰Projections:

  • Average Daily Rate: $287

  • Occupancy Rate: 51%

  • Projected Revenue: $53,200/yr

  • Projected Operating Expenses: $16,700/yr

  • Projected Net Operating Income: $36,500/yr

  • Projected Gross Yield: 13.6%

Over 90 Days + Price Reduction

Welcome to your Tahoe retreat nestled in the heart of South Lake Tahoe, where tranquility meets comfort. This property offers a blend of thoughtful upgrades and inviting features that will make you feel right at home from the moment you arrive. Boasting 3 bedrooms, 2 bathrooms, and a 2-car garage that has been finished with insulation and drywall, this home exudes functionality. Step inside to discover laminate wood flooring throughout, and a cozy living room, anchored by a wood-burning stove, creating a welcoming atmosphere where you can gather with loved ones on chilly evenings. The kitchen is equipped with newer stainless steel appliances including a modern refrigerator with double doors and a see-through feature, adding a touch of contemporary elegance to the space. To make your move even easier, this home is being sold fully furnished, featuring a Peloton exercise bike and a snowblower. Each bedroom is equipped with a ceiling fan for added comfort, and one bedroom boasts a convenient walk-in closet, offering ample storage options to suit your needs. The primary bathroom has been updated with travertine tiles. But what truly elevates this home's appeal is the undeniable value found in its recent replacement of all major components. From the new furnace to the 50-gallon gas water heater, energy-efficient double-pane vinyl windows to the roof, this investment guarantees years of worry-free living, promising both comfort and peace of mind for you and your family. Inspections have been completed for peace of mind and reports are available for viewing. The property has received Section 1 Pest Inspection Clearance, and the seller has already addressed most of the identified repairs from the Home Inspection report. Outside, you'll find a side gate that provides access for RV parking or boat storage. The fenced-in backyard offers a spacious deck, newer hot tub, a horseshoe pit and a cozy sitting area with a gas firepit where you can relax and unwind under the stars. Situated less than a 10-minute drive from Heavenly Ski Resort, you'll have easy access to world-class skiing and snowboarding during the winter months. During the summer, explore the shops and restaurants at the nearby Heavenly Village or try your luck at the casinos. For outdoor enthusiasts, this home is just minutes away from popular bike and hiking trails, allowing you to immerse yourself in the natural beauty of the area. Plus, within walking distance to Trout Creek, you'll have the perfect spot to take your dog for a splash or enjoy some serene fishing moments. Don't miss your chance to experience the ultimate in Tahoe living.

🏠Quick Stats:

  • $593,000

  • 3 BR / 2 BA

  • 1,104 sq/ft

💰Projections:

  • Average Daily Rate: $359

  • Occupancy Rate: 56%

  • Projected Revenue: $73,000/yr

  • Projected Operating Expenses: $24,200/yr

  • Projected Net Operating Income: $48,800/yr

  • Projected Gross Yield: 12.3%

Knowledge Rundown

Creating Unique Experiences Series

Part 3: Leveraging Technology for Personalized Experiences

In the previous parts of this series, we explored the importance of crafting unique experiences and engaging with guests throughout their stay. Now, let's delve into the role of technology in enhancing the guest experience and creating a seamless and personalized journey.

Technology as an Enhancer:

Technology has transformed the way we interact with the world, and the short-term rental industry is no exception. By harnessing the power of technology, you can elevate your guest experience, streamline operations, and gather valuable insights.  

Smart Home Integration:

  • Keyless Entry: Implement smart locks to provide guests with convenient and secure access to your property.  

  • Smart Thermostats: Allow guests to control the temperature to their preference, enhancing comfort and energy efficiency.

  • Voice Assistants: Integrate voice-activated assistants like Amazon Alexa or Google Home for hands-free control of various smart devices and to provide information about the property or local attractions.

Guest Communication Platforms:

  • Centralized Communication: Utilize dedicated guest communication platforms to streamline interactions and provide quick responses to guest inquiries.

  • Guest Feedback Mechanisms: Incorporate feedback tools within the platform to gather valuable insights and address concerns promptly.

Personalized Recommendations:

  • Guest Data Analysis: Utilize guest data to identify preferences and tailor recommendations accordingly. For example, if a guest shows interest in outdoor activities, suggest nearby hiking trails or bike rental shops.

  • Local Partnership Apps: Partner with local businesses to offer exclusive discounts or curated experiences through dedicated apps or platforms.

Streamlined Operations:

  • Property Management Software: Use property management software to automate tasks, manage bookings, and streamline communication with guests.  

  • Smart Home Automation: Integrate smart home devices to automate lighting, temperature control, and other functions, enhancing guest comfort and reducing energy consumption.

Challenges and Considerations:

While technology offers numerous benefits, it's important to consider potential challenges and ensure a seamless guest experience:

  • Technical Difficulties: Be prepared to provide technical support for guests who may encounter issues with smart devices or online platforms.

  • Privacy Concerns: Respect guest privacy by clearly communicating how their data is used and ensuring data security.

  • Accessibility: Ensure that technology is accessible to all guests, including those who may have disabilities or limited tech proficiency.

Conclusion:

By leveraging technology strategically, you can create a personalized and seamless guest experience. From smart home features to personalized recommendations, technology can enhance guest comfort, satisfaction, and overall stay. Remember to prioritize guest privacy and provide necessary support to ensure a smooth experience for all.

By combining technology with a focus on guest experience, you can elevate your short-term rental to new heights and build a loyal customer base.

Hot News

Mapped: The Salary Needed to Buy a Home in 50 U.S. Cities in 2024

In 2024, the median salary for the typical American home buyer has risen to $104,339 - up from $88,000 just two years prior.

Despite record-high home prices, housing demand continues to outpace supply, even with mortgage rates at their highest in over a decade. As one bright spot, housing inventory is steadily increasing, with the number of homes for sale up almost 19% in May compared to the previous year. This growth in inventory could help ease the cost of home ownership looking ahead.

Continue Reading → Here

Productivity

5 Short Term Rental Tools to Supercharge Your Productivity for Creating Unique Experiences

  1. RueBaRue: Beautiful, interactive digital guidebooks for vacation rentals. Guests access via app or web link.

  2. SkillShare: While not specific to Airbnb, these online learning platforms offer a wealth of creative courses. Explore options like "Crafting the Perfect Welcome Basket" or "Curating Unique Experiences for Guests."

  3. Facebook Groups: Search for local Facebook groups dedicated to your city or region. These groups can be a great way to connect with local businesses, artisans, and event organizers who might be interested in collaborating with you.

  4. IGMS: Stock your Airbnb with local treats, drinks, and toiletries. This small gesture shows guests that you care about their experience and want them to feel welcome.

  5. AirBnBExperience: Connect with local vendors who can provide unique experiences for your guests.