This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries.In this episode of STRonomics, hosts Bill Faeth and Kenny Bedwell explore effective investment strategies for short-term rental hosts amidst the challenges of increased regulation, market saturation, and rising interest rates. The discussion covers the importance of dynamic pricing, understanding property value within the market, and strategically managing minimum night stays to boost booking rates and revenue. Insights from their experiences and tips for maximizing occupancy and profit, especially during the off-peak seasons, are shared.00:00 Navigating the Complex World of Short-Term Rentals00:28 Introducing Market My STR: The Ultimate Marketing Platform01:36 Deep Dive into Pricing Strategies for Short-Term Rentals04:46 Understanding Property Types and Their Impact on Pricing13:47 The Importance of Tracking and Adjusting Your Pricing Strategy19:58 Exploring Minimum Night Stays and Their Effect on Bookings25:46 Tailoring Pricing Strategies to Individual Properties27:27 Closing Thoughts and Contact InformationWe 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/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

The podcast discusses the complexities of selling properties in the short-term rental market, emphasizing market analysis, strategic investment, and maximizing returns. They highlight the importance of recognizing bad investments, conducting equity audits, and seeking expert advice. The hosts stress the need to make informed decisions, not holding onto underperforming properties out of fear of loss.

Bill Faeth and Kenny Bedwell discuss the success of niche marketing in the short-term rental industry, focusing on pet-friendly and cannabis properties. They highlight the importance of targeting the right audience without being overly niche, cautioning against personal preferences overshadowing market demand. The conversation emphasizes the potential of well-thought-out themed and targeted properties in increasing occupancy and revenue.

The podcast discusses how property amenities like air conditioning, outdoor lighting, and food offerings impact Average Daily Rate (ADR) and occupancy rates. It emphasizes the importance of strategic investment in amenities to enhance guest experience and attract specific guest avatars. The hosts also explore maximizing ROI, guest lifetime value, and the creative marketing of amenities to encourage repeat bookings.

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries.Bill Faeth from Build STR Wealth and Kenny Bedwell from STR Insights discuss the prevalent mistakes in the short term rental industry, specifically overspending on design and poor time management. They also discuss problems from underestimating launching and operational costs, hesitations due to market saturation, and the effects of rising interest rates. The hosts emphasize the importance of meticulous underwriting and property identification processes. They also share information about their paid and free options to help individuals avoid and mitigate these common mistakes.00:00 Introduction and Welcome00:54 Discussing the Biggest Mistakes of 202301:06 Overspending on Design and Decor01:54 Maximizing Return on Investment04:36 The Importance of Timing09:08 The Role of the Banker in the Process10:21 Avoiding Saturation and Finding Opportunities17:08 Understanding the True Costs of Running a Short Term Rental22:06 The Importance of Due Diligence and Research22:28 Conclusion and Final ThoughtsWe 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/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries.In this episode of STRonomics, Bill Faeth and Kenny Bedwell discuss the role of real estate agents in the short-term rental property market. They argue that while agents can provide valuable services such as drawing up contracts and giving insights on concessions, potential investors cannot rely solely on agents' revenue projections. This is because the successful hosting of a property depends on a host's skills, strategies, and personal goals, all of which an agent cannot fully grasp. Investors are therefore advised to make their own assessments of prospective properties using reputable data sources. Bill and Kenny also emphasize the significance of agents having their own experience owning short-term rentals since they would better understand the investor's perspective.00:00 Introduction and Topic Presentation00:43 The Role of Real Estate Agents in Property Investment01:56 The Importance of Doing Your Own Research02:21 Revisiting the Topic: Trusting Your Agent02:57 The Limitations of Relying on Agents03:41 The Importance of Agents Owning Short Term Rentals03:51 Red Flags to Look Out for in Agents04:18 The Importance of Due Diligence in Property Investment05:58 The Role of Experience and Data in Property Investment07:06 The Importance of Understanding Your Own Hosting Skills07:55 The Risks of Relying on Set Numbers in Property Investment16:24 The Importance of Reevaluating Your Investments16:45 Conclusion: Trusting Agents and Doing Your Own Due DiligenceWe 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/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

The hosts discuss the importance of location in short-term rental properties, with guest Kenny Bedwell highlighting his unique amenities. They emphasize investing in top-performing properties, upgrading them, and choosing locations near key attractions. They also cover common pitfalls to avoid and the role of location in market saturation. The episode delves into property upgrades like movie theaters and cabanas for a competitive edge.

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries.In this episode, industry experts Bill Faeth and Kenny Bedwell discuss strategies to stay ahead in the short-term rental market amid increasing regulations, market saturation, and rising interest rates. They share insights on investment trends, marketing tools and platform 'Market My STR'. They also discuss factors that impact Airbnb rankings, emphasizing the importance of listing optimization, dynamic pricing, gathering positive reviews and unique property features. Additionally, they highlight the potential of amenities and services like handicap-accessibility and pet-friendliness to boost rankings and conversion rates, despite these being often overlooked.00:00 Introduction to Short Term Rentals00:28 The Power of Marketing in Short Term Rentals00:55 The Importance of Communication Tools in Short Term Rentals01:12 The Role of Marketing Platforms in Boosting Your Business01:26 The Art of Podcasting in Short Term Rentals01:43 The Secret to Ranking in 202402:20 The Impact of Pricing, Listing Optimization, and Amenities on Ranking03:23 The Power of Reviews in Ranking05:17 The Importance of Photos in Ranking08:06 The Role of Amenities in Ranking15:17 The Impact of Cancellation Policies and Pricing on Ranking19:57 The Importance of Unique Value Propositions in Ranking22:46 Conclusion: The Key Elements to Ranking in Short Term RentalsWe 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/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries.In this episode of STRonomics, Bill Faeth and Kenny Bedwell discuss the impact of increasing regulation, market saturation, and rising interest rates on short-term rentals investment. They shed light on the importance of staying ahead of the curve and being able to identify trends before they happen. They also delve into the key features of 'Market My STR', a comprehensive marketing platform designed for short-term rental hosts, discussing how it can streamline marketing efforts, improve hosts' communication with guests, and overall enhance the short-term rental business. The episode also delves into specifics about saturation in markets with examples from Kissimmee to Blue Ridge, and highlights the best strategies for property investment amidst growing market competition.00:00 Introduction to Short Term Rentals00:28 The Power of Market My STR01:26 Behind the Scenes: Outtakes and Insights01:40 Understanding Market Shifts and Trends01:50 The Story of Logan, Ohio02:23 The Importance of Data Analysis in Investment04:06 The Impact of Market Size on Investment05:22 The Role of Purchase Price and Revenue in Investment06:09 The Effect of Market Saturation on Investment07:38 The Impact of Subdivisions on Market Saturation09:25 The Importance of Unique Property Features10:26 The Role of Demand in Investment16:59 The Importance of Proximity in Investment19:51 The Key Factors that Shift Markets21:14 Conclusion: The Importance of Great PhotosWe 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/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries.In this episode of STRonomics, industry experts Bill Faeth and Kenny Bedwell discuss how to stay ahead of the curve in short-term rental investments amidst increasing regulation, market saturation, and rising interest rates. They caution against banking on future predictions like cost segregation bills or interest rates, stressing the importance of making informed, data-driven decisions based on the present situation. The duo also stress the need to be unique and differentiate one's property to succeed in increasingly competitive markets. The discussion also features tips on timely implementation of investment plans and avoiding common pitfalls in the acquisition process.00:00 Introduction to Short Term Rentals00:28 Market My STR: The Ultimate Marketing Platform for Short Term Rental Hosts01:26 Welcome Back to STRonomics01:52 Discussion on the Cost Segregation Bill02:42 Why You Shouldn't Bank on the Future04:15 The Importance of Timing in Property Investment07:58 The Dangers of Speculation in Property Investment11:49 The Impact of Amusement Parks on Property Investment19:25 Conclusion: Focus on Making Your Property Unique20:52 Outro: Thank You for Listening to STRonomicsWe 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/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices