STRonomics

Amenities that work Today

Sep 19, 2024

Explore the challenges in the short-term rental market, such as rising regulations and saturation. Discover how investing in unique amenities, like pickleball courts and saunas, can enhance guest experiences. Learn about the importance of understanding your target market and gathering guest feedback. Gain insights into effective marketing strategies and why small additions, like USB chargers and coffee bars, can have a big impact. Navigate the fatigue of similar listings to stand out and appeal to health-conscious guests with wellness amenities.

26:54

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Investing in specific amenities like pickleball courts can significantly enhance guest experiences, provided they align with target market preferences.

Effective marketing of unique amenities, such as saunas and coffee bars, is crucial for differentiation in a saturated short-term rental market.

Deep dives

Evaluating Amenities: The Pickleball Court Debate

The podcast discusses the potential investment in amenities for short-term rentals, particularly focusing on the viability of pickleball courts. Depending on the market, the cost of building a pickleball court can be prohibitive, as estimates can reach up to $60,000. For smaller properties, such as one to three-bedroom units, this investment is often deemed unnecessary since the target audience may not see significant interest in such amenities. Larger properties, however, located in family-friendly vacation markets, can benefit from a pickleball court, highlighting the importance of understanding the guest demographics before making such decisions.

Intro

2min

Evaluating the Value of Recreational Amenities in Property Investment

3min

Understanding Amenities and Guest Expectations

2min

Enhancing Property Value with Strategic Amenities

18min

Navigating the Fatigue of Vacation Rentals

2min

Bill and Kenny explore how to navigate current challenges in the short-term rental market, including increasing regulations, market saturation, and rising interest rates. They focus on how to strategically invest in amenities like pickleball courts, saunas, and geo-domes to enhance guest experience and improve booking rates. The discussion includes the importance of understanding your target market, guest feedback, and marketing strategies, concluding with practical advice on small but impactful additions like USB chargers and master bedroom coffee bars.

https://go.buildstrwealth.com/tour

00:00 Introduction to STRonomics

01:26 Welcome Back to STRonomics

01:41 Discussing Amenities: Pickleball Courts

08:54 Unique Amenities: Saunas and Swim Spas

14:21 Marketing Strategies for Short Term Rentals

23:48 Guest Fatigue and Choosing Listings

26:37 Conclusion and Farewell

We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/

Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA

STR Data Hosts Facebook Page

Instagram: Kenny_Bedwell

You can find more of Bill online at:

Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1

Build STR Wealth: https://buildstrwealth.com/

Instagram: @BillFaeth73

Tik Tok: @bfaeth

Learn more about your ad choices. Visit megaphone.fm/adchoices