STRonomics

4 Keys of Finding Profitable STR

Jul 27, 2023

28:13

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries.

In the latest installment of STRonomics, Kenny takes the reins as Bill is away, and delves into the four crucial keys for achieving success with short-term rentals.

First and foremost, Kenny emphasizes the paramount importance of the property's location. It's not merely about the city; proximity to popular attractions can be a game-changer, significantly influencing the rental's desirability.

Next, he highlights the significance of impeccable interior and exterior design. While interior modifications can be transformative, neglecting the curb appeal of the exterior can adversely affect the rental's chances of success.

Furthermore, Kenny stresses the value of crafting an exceptional interior design that aligns with the preferences of the target clientele. Meeting their expectations and desires can lead to increased bookings and satisfied guests. He also underscores the value of adding amenities to the property when necessary, enhancing its overall appeal.

Lastly, the episode concludes with Kenny advocating thorough market research before diving into the business. Analyzing competitors and understanding the required investments in design, location, and exterior upgrades are vital steps towards becoming the best in the area.

Tune in to this episode of STRonomics to discover the secrets to prosperous short-term rentals.

[00:03] Introducing STRonomics

{01:33] Markets Down

[03:17] First Key: Location

[05:45] The Smokies

[07:45] Mountain Market Story

[09:50] Second Key: Interior & Exterior Quality

[12:15] Third Key: Design & Decor

[13:40] ROI on Decor

[16:27] Fourth Key: Value Adds

[17:13] Kentucky Property

[17:43] Swimming Pool