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If you’re thinking about buying investment property or turning your own home into a part-time vacation rental, creating the perfect experience goes beyond surface-level aesthetics. It’s about capturing the essence of your property’s location, ensuring comfort and convenience, and adding personal touches that resonate with your guests. In this Redfin article, we dive into essential strategies to transform your short-term rental (STR) into a haven of relaxation and delight. From crafting a captivating first impression and infusing your unique personality into the design to practical tips on vacation rental maintenance and entertainment, we cover every aspect to help you excel in the competitive world of vacation rentals (VRs).

Discover how to curate spaces that resonate with the culture of your locale, whether it’s the beachy vibes of Oklahoma City or  Katy, Texas. Learn from industry experts and seasoned hosts who share insights on interior design, hosting strategies, and the art of leaving lasting impressions. By the end, you’ll be equipped with the knowledge and inspiration needed to create a standout vacation rental that not only delights guests but also ensures their return for unforgettable getaways and more five-star reviews.

1. Make a memorable first impression

“A significant point of pride for us in our business is the warm welcome we extend to our guests, as you only have one chance to create an outstanding initial impression. The finer details hold importance; thus, presenting guests with a welcome basket of delights conveys the message, ‘we are delighted you’re here.’ Nothing quite embodies the essence of ‘welcome’ as freshly picked flowers from our local Farmer’s Market,” suggests Carlsbad & Oceanside Airbnb Rental Property Management by Grand Welcome.

“Additionally, we offer Carlsbad Water, popcorn, exquisite chocolates, and an array of teas. This is the same manner in which you would greet your own family; and we believe guests deserve nothing less. Moreover, we furnish premium quality soaps and toiletries that resonate with the calming oceanic vibes of the area.” 

Courtesy of Carlsbad & Oceanside Airbnb Rental Property Management

2. Elevate your vacation rental’s design by adding in your personality and history

“Transform your Airbnb interior design by seamlessly weaving in distinctive elements that eloquently narrate your personality and the history of the locale. Embolden your space with striking accents, such as vivid hues and captivating lighting fixtures, to amplify its allure,” Hostaway. “However, exercise caution with an all-white interior, considering the upkeep expenses it might incur. Breathe vitality into the environment through the inclusion of indoor plants, but conduct thorough research to accommodate potential guest allergies, particularly among families with children and pets.”

3. Integrate visually tasteful features that are easy to maintain 

“When selecting upholstery materials, it’s advisable to opt for options that are easily washable. For instance, when it comes to barstools, we recommend utilizing vinyl or leather fabrics. While incorporating plants into your spaces offers numerous benefits, relying on housekeepers to maintain their vitality can pose a challenge. This is why we suggest considering artificial plants, which provide a touch of contrast while maintaining a perpetually vibrant appearance,”  recommends Stay Locations.

“Complying with local occupancy restrictions, whenever applicable, offering a sofa bed serves as an excellent strategy to augment the number of occupants and significantly boost your financial returns. Introducing integrations with remote door lock apps not only reduces the host’s workload but also enhances guest security by ensuring regular code changes.”

4. Decorate according to your location

“Part of a vacation is where you stay, so choosing an aesthetic that matches the location and why someone is visiting is important,” recommends KeyVest. “We specialize in vacation rentals along the Jersey Shore, so for our area we see a lot of beachy themes and color schemes. To get a classy look for any location, decorate with neutral colors and accent with the theme of your vacation destination.”

Courtesy of KeyVes

5. Hiring professional interior designers and photographers

“In this short-term rental market, professional interior design is essential if you want to remain competitive. Premier interior and exterior design paired with professional photography and standout amenities will not only get your property a higher average daily rate and occupancy rate, but it will make a long-lasting five-star impression on your guests to garner repeat bookings,” suggests Hometeam Vacation Rentals.

6. Capitalizing on your short term rental’s best features and targeting your audience

“As a local investor and property manager, the initial consideration revolves around identifying your target audience,” says Nathaniel Berger from Anchor Down Real Estate. “A crucial aspect involves conceptualizing the design of your short-term rental, taking into account the distinctive attributes your property possesses, and strategizing on how to leverage them effectively. Integrate these features into your listing to create a truly unique impression and distinguish your property from the multitude of alternatives in the vicinity. It’s essential to provide something memorable that will resonate with potential renters as they sift through countless photos during their quest for the ideal property.”

7. Partner with artists to upgrade your STR’s interior design

“At Casa Rooms, we believe in going beyond traditional property management practices. Our partnership with Sara, a local business owner, allows us to infuse artistry into our services, offering a truly unique and immersive experience,” shares Casa Rooms. “By combining our expertise in property management with Sara’s artistic talents, we create spaces that inspire and captivate tenants and property owners alike.”

Courtesy of Casa Rooms

8. Pay for guest subscriptions for seamless entertainment

“When people go on vacation, they don’t want to have to learn a new TV system. Or have to remember their login information for any TV subscriptions they might have at home (Hulu, Peacock, etc.),” says Leah Ingram. “That’s why we’ve installed Roku TVs in all of our vacation rentals (we have two in Maine). Also, we’ve purchased subscriptions specifically for guests. Then, we include instructions in our booklet on how to log in so they can watch their favorite shows without a hassle.”

9. Balancing aesthetics and comfort

“One common pitfall I frequently observe is hosts focusing on creating picture-perfect spaces for photoshoots, often overlooking the practical livability of the home. Guests might be enticed by stunning header images but could end up disappointed if the sofa proves uncomfortable, there’s a shortage of chairs for communal dining, or the pillows don’t suit their preferences,” shares Breathe Vacation Rentals

“Furthermore, a valuable piece of advice for hosts is to infuse their unique personality into the space. Embrace items like that antique hutch stored in the basement or the eclectic art collection amassed over the years. When done thoughtfully, these elements can serve as captivating focal points, setting your listing apart from the uniform offerings.”

Courtesy of Breathe Vacation Rentals

10. Go beyond what your guest sees on your VR listing 

“Cover all the essentials in your well-equipped kitchen. Beyond providing cooking utensils and homeware, make sure to maintain a supply of basic pantry staples like salt, sugar, olive oil, and coffee. This added convenience is sure to be appreciated by your guests,” recommends Palm Springs Airbnb Vacation Rental Property Management by Grand Welcome.

“Go the extra mile by offering abundant linens for the entirety of your guests’ stay. Alongside fitting each room with fresh sheets, consider placing an additional set of properly sized sheets, pillowcases, and towels in every room. Your meticulous organization will save guests from the hassle of searching for essentials.

Design your property to cater to both your needs and those of your guests. Dedicate a portion of the home to private, secure storage for the homeowner. Utilizing a locked safe allows for the safeguarding of valuables and important documents, while also providing a discreet place to store maintenance and cleaning equipment.

Create the desired ambiance with a variety of lighting options for each guest. Maximize the use of natural light to create an inviting atmosphere. Overhead lighting presents an opportunity to make a statement with distinctive fixtures that highlight distinct living areas, such as a chandelier above a dining table. Floor-level lamps offer softer lighting for moments of relaxation.”

11. Design and decorate your VR as if it were your home

“Always stay at least one night in your own rental and do everything. Cook, bathe, shower… What would make it better? What finishing touches would add “thoughtful host” to the guest’s review? For inspiration, look through Architectural Digest or on Pinterest for design ideas to steer your purchases. Steal ideas, take risks, and have fun,” suggests the Walker Sisters.

“If you are in a beachy town, that’s probably a reason visitors are coming there, use light fabrics and natural colors to create a soft and airy feel. If you are in a big city, get inspired by the culture and neighborhood around you. Lean in, or go in an opposite direction – either way, your guests will enjoy a specific and curated vibe.” 

Courtesy of Walker Sisters

12. Adding delicate nuances and thoughtful details goes a long way

“I believe what makes a VR design really powerful is the subtleties and the small details. It’s hard to pinpoint just one thing, but my recommendations would be to do something bold and beautiful. If you make a beautiful Airbnb, you will always be booked,” Stay Flourish says.

“For example, amber bottles with premium soap, high quality sheets, lucious plants, and fixtures that accentuate natural light. These seemingly small touches evoke a sense of personal touch and care. You didn’t just go for baseline functionality or cut corners to ‘just get by.’ You put intention into every nook and cranny as if it were your own home.”

Courtesy of Stay Flourish

13. Use a less is more approach

“A significant amount of effort goes into designing and maintaining vacation rentals. Our foremost objective when designing and furnishing vacation rentals is to create an ambiance that is consistently light, bright, and inviting,” Bluewater Vacation Rentals suggests. 

“Our aim is for vacationers to experience a true home away from home, setting vacation rentals apart from hotels. Each property boasts a unique appearance while embodying a California casual aesthetic that appeals to visitors seeking the San Diego experience.

Furnishing vacation rentals demands a ‘less is more’ approach. Prioritize quality over quantity, offering essential amenities without cluttering spaces or overspending on unnecessary items.”

Source: redfin.com

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If we’ve learned anything from Goldilocks and the Three Bears, it’s that we should strive for “just right,” no matter if it’s porridge or home prices.

After all, if they’re too hot, a correction surely looms, and if they’re too cold, it means something isn’t quite right with the housing market and the economy at large.

Fortunately, home prices finally seem to be settling into long-term fundamentals, according to the latest edition of Trulia’s Bubble Watch.

Homes Prices Still 3% Undervalued

The real estate portal’s chief economist Jed Kolko noted in a blog post that home prices were only three percent undervalued in the second quarter, which tells us all is still good over at Bubble Watch.

Yes, there were signs we were headed right back to 2006, seemingly forgetting lessons learned just years earlier, but then accelerating home price gains abated.

Sure, home prices are still on the rise, but the pace is a lot more gradual, which as the title of this post suggests, is a good thing.

At the worst of times, back in the first quarter of 2006, home prices were 39% overvalued according to Trulia. We all know what happened next.

About five years later, we hit bottom as home prices were considered 15% undervalued in the fourth quarter of 2011.

Since then, it’s been a white-hot housing market, that is, until the past few quarters as reality finally caught up with us.

Now we’re on pace for a perfectly valued housing market by the final quarter of 2014, or perhaps the first quarter of 2015, though we still remain slightly undervalued.

In the first quarter, home prices were five percent undervalued and they were eight percent undervalued a year earlier.

The only caveat here is that artificially low mortgage rates might be throwing the numbers off a little bit, but if rates stay low for a long time that shouldn’t be an issue.

Home Prices Only 79% Back to Normal

As it stands, we’re only 79% back to normal in terms of whether home prices are under or overvalued. But a year ago we were 44% back to normal, so if we continued on that pace we’d swing too far the other way.

Heck, even a quarter earlier we were only 68% back to normal, so you have to wonder what the rush is.

The good news is that as we approach “normal,” home price gains are slowing, meaning they should be sustainable as we reach that sweet spot.

In fact, for the first time in nearly two years no local housing market has registered a year-over-year gain of more than 20%, so even the really, really hot markets are cooling off finally.

Again, home prices are still rising, but they’re climbing at a more normal pace, which is good for housing long-term.

At the same time, there are still markets that are getting a tad frothy, and those that have yet to ride the national housing train higher.

Orange County the Bubbliest Market

If you look at home prices relative to the fundamentals (historical prices, incomes, rents), Orange County, California was 17% overvalued in the second quarter.

While that might seem high, consider the fact that OC home prices were 71% overvalued relative to fundamentals back in the first quarter of 2006.

It’s not to say that home prices there have plenty of room to run before we can all jump ship and make a tidy profit again, but it does give you some perspective if you’ve got returning bubble fears.

Perhaps more disturbing is that eight of the 10 most overvalued metros are located in California, with Austin and Honolulu the only outsiders.

Akron Is Still Cheap

On the other end of the spectrum, it continues to be the Midwest that is undervalued, even with the spectacular home price gains realized over the past couple years.

The metropolitan area of Akron, Ohio is still 21% off if you consider the fundamentals, though it only ever climbed 18% above where it maybe should have during the prior boom.

Four of the bottom 10 metros can be found in Ohio, and of course Detroit is on that list, despite being an underdog story going forward.

Nationwide, 76 of 100 markets are still undervalued per Trulia and those that overvalued are only “just a bit” beyond where they should be, which means we don’t need to hit the panic button just yet.

(photo: David Goehring)

Source: thetruthaboutmortgage.com

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Welcome to the pilot episode of The Kings Table Podcast, a captivating new show hosted by Aaron, Ashish, Mike, and Matt. Join us for an unfiltered, authentic experience as we gather weekly to delve into the raw discussions that drive our lives, businesses, economics, and the world.

Meet the hosts:

1. Mike Ayala is an accomplished investor, speaker, and podcast host, who stands at the helm of Investing for Freedom, guiding busy professionals and entrepreneurs toward the path of genuine liberation and optimal living.

2. Ashish Nathu is a founder and CEO, entrepreneur, real estate investor, triathlete, and host of the Rich Equation Podcast.

3. Matt Aitchison is a distinguished real estate investor, captivating speaker, and committed philanthropist.

4. Aaron Amuchastegui is a seasoned real estate virtuoso with a remarkable track record of over 1,000 house transactions, predominantly acquired through astute foreclosure purchases at courthouse auctions.

Connect with us!

We eagerly await your feedback about the show! Kindly share your thoughts via text message at this number: (844) 447-1555.

Mike Ayala:
Instagram: https://www.instagram.com/themikeayala/
Youtube: https://www.youtube.com/channel/UCoa4pNSAYxBM6nSn2jCrPYA
Website: https://investingforfreedom.co/

Ashish Nathu:
Instagram: https://www.instagram.com/ashishnathu/
Youtube: https://www.youtube.com/channel/UC1TXia_kxtVVCV29jmoTmeg
Website: https://www.therichequation.com/

Matt Aitchison:
Instagram: https://instagram.com/officialmattya
Youtube: https://www.youtube.com/mattaitchisonmedia
Website: www.MillionaireMindcast.com

Aaron Amuchastegui:
Instagram: https://www.instagram.com/aaronamuchastegui/
Youtube: https://www.youtube.com/@AaronAmuchastegui/about
Website: https://www.aaronamuchastegui.com/

It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email.

-Aaron Amuchastegui

Source: realestaterockstarsnetwork.com

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Real estate signs advertise new homes for sale in multiple new developments in York County, South Carolina, U.S., February 29, 2020. REUTERS/Lucas Jackson/File Photo

Aug 10 (Reuters) – U.S. mortgage delinquency rates fell to a record low in the second quarter due to a strong job market and low interest rates prevailing on most home loans despite the big jump in mortgage rates over the last two years, a report on Thursday said.

Delinquency rates fell to 3.37% at the end of the second quarter, according to the Mortgage Bankers Association’s National Delinquency Survey, their lowest since the MBA began collecting data in 1979 and down from 3.64% year-on-year.

Seriously delinquent loans, which are 90 days or more past due or in the process of foreclosure, fell to the lowest non-seasonally adjusted rate in 23 years at 1.61%.

Economists are watching mortgage delinquency rates closely for signs of weakness amidst the Federal Reserve’s aggressive 525 basis point interest rate increase since March 2022, which increased the cost of borrowing across the board.

While the MBA said many borrowers have been able to withstand surging mortgage costs in large part due to a resilient job market and strong wage growth throughout the year, most homeowners are also paying interest rates well below those charged on new loans.

Real estate brokers estimated in June that more than eight in 10 loans outstanding featured at rate below 5% at the end of 2022, well below the MBA’s most recent contract rate above 7%. More than six in 10 pay 4% or less.

While the share of those paying such low rates is declining, many homeowners are opting to remain where they are rather than move and take on a new loan at current rates, which are approaching a 22-year high.

Despite the historically low delinquency rate, the MBA said not every borrower has been able to withstand the recent stress of hiked interest rates.

The delinquency rate on loans for low-income and first-time buyers, backed by the Federal Housing Administration (FHA), edged up 10 basis points annually to 8.95% in the second quarter.

Separately on Thursday, the National Association of Realtors released a report showing that the median home price in the second quarter fell 2.4% year-on-year to $406,000, albeit with significant variations nationwide.

“Home sales were down due to higher mortgage rates and limited inventory,” said NAR chief economist Lawrence Yun. “Affordability challenges are easing due to moderating and, in some cases, falling home prices, while the number of jobs and incomes are increasing.”

Reporting by Safiyah Riddle;
Editing by Dan Burns and Marguerita Choy

Our Standards: The Thomson Reuters Trust Principles.

Source: reuters.com

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Ever dreamed of buying an investment property for short-term vacation rentals? Whether you’re setting up shop in Columbia, SC, or in a Rochester, NY, apartment, we found experts to share their stories and offer valuable lessons they’ve learned along the way to help newcomers troubleshoot short term rental problems with practical solutions. Read on to learn how to turn your property into a five-star rental.

1. Expanding your network in the STR landscape

“I have been a realtor since 2009, primarily specializing in selling investment properties used as short-term rentals,” shares Danny Margagliano from Destin Property Expert. “Recently, my wife and I purchased our first condo, which we are self-managing as a short-term rental property. One of the most significant challenges we encountered at the outset was selecting a Property Management Software (PMS). With numerous companies available online, the decision can be overwhelming. A valuable piece of advice I can offer is to join larger Facebook groups dedicated to short-term rental properties, Airbnb, or VRBO. These groups provide access to experienced hosts who are more than willing to offer assistance.”

2. Navigating a competitive market with trifecta-like customer service

“Having worked for a decade in a fiercely competitive vacation rental market like San Diego – first as a property manager and now as a business owner – I’ve pinpointed three pivotal aspects that spell success for your enterprise,” shares Jeff Nisuis, owner of Titan Beach Rentals

  • “Firstly, customer service must reign supreme for both your guests and owners. We prioritize responding to guest messages and calls within an hour, while also ensuring monthly reviews or updates for owners. 
  • Secondly, a well-rounded tech stack is indispensable for achieving this feat. This begins with implementing a property management system such as Guesty to streamline and automate your company’s workflow and communication. 
  • Lastly, the cornerstone of it all is accurate pricing. Employing a dynamic pricing tool to automate nightly rates and monitor market trends and demands not only saves time but also enhances pricing precision, revenue, and occupancy rates.”

Courtesy of Titan Beach Rentals

3. Offering virtual guides and demonstration videos 

“Every home in our program is unique, and it’s impossible to keep track of every quirk in each home without a system. One of our secrets to successfully addressing guest questions is dedicating time to create a virtual guide for each property,” recommends Hilton Head Rentals. “Most guest queries can be resolved using our virtual guide. Even if guests don’t use the guide, we rely on it to swiftly and accurately respond to their questions. 

We also produce a series of ‘quick and dirty’ videos demonstrating how to operate certain unique features in the homes, such as turning on the oven hood, adjusting the thermostat, or activating spa jets. It’s somewhat amusing to revisit our own videos months later to remind ourselves how things work in specific houses. This approach reduces the need for dispatching personnel, saving us money, and enables us to promptly enhance the guest experience by promptly addressing their inquiries.”

Courtesy of Hilton Head Rentals

4. Turning a million-dollar setback into success with rapid recovery and communication

“’I’m not going to lie, we are really freaking out over here’, the owner confessed to me two weeks after I signed her property – my first valued over one-million dollars. Unbeknownst to all of us, their previous management company canceled all bookings in June and July upon switching, resulting in the loss of nearly 30-thousand dollars in expected revenue,” shares Joel Harris from Port Aransas Airbnb Vacation Rental Property Management by Grand Welcome.

“The lessons I learned along the way are one, when confronting challenges, formulate a plan using the tools at your disposal and relentlessly execute it. Within 24 hours, our ads were up and running. I maintained constant communication with the owners, updating them about our progress, actions, and results two to three times daily. As our ads gained momentum, I shared our analytics daily and later on a weekly basis. After three days, we secured our first booking. Another followed just two days after. Gradually, the pressure eased as reservations steadily flowed in.

Second, maintain frequent and transparent communication, substantiated with real data and examples. In the absence of information, our minds concoct stories. To counter this, we provided our owners with detailed and factual information about the issue at hand. We outlined the steps we were taking to resolve it, employing regular and effective communication. And behold, despite starting from scratch this summer, the property that had us ‘freaking out’ became one of our top earners.”

5. Crafting unique spaces and thoughtfully designed rooms

“At Urban Sands we strive to curate a unique experience at each one of the properties we manage. We spend a lot of time with our interior designer, Theresa Danna at Designed to a T. Together we are able to create inviting spaces that help maximize booking revenues for our clients. Finding the most reliable vendors, cleaners, and admin in our area has really helped us overcome any challenges that are thrown at us,” suggests Chloe and Bryce Mayer, Owners of Urban Sands Vacation Rentals.

Courtesy of Urban Sands Vacation Rentals

6. Embracing technology for extra booking and revenue growth

“As a vacation rental property manager, the biggest challenges I experienced were two-fold – homeowners and guests. The most common issues several of my homeowners had in the past were related to bookings and revenue generation,” shares Kristian Lewis from New Braunfels Airbnb Rental Property Management by Grand Welcome.

“At Grand Welcome we ensure our properties are being highlighted and getting exposure on over 40 national and international travel websites to provide homeowners with consistent marketing growth. Additionally, we use dynamic pricing algorithms to establish optimal pricing based on seasonality, demand, and market trends within our region. For guests, we want to provide high-level boutique service during every phase of their visit from booking to check-out, so we have dedicated guest service teams who are available 24/7 to assist with any questions, issues, and concerns almost immediately. 

Each of our properties is equipped with an in-home concierge tablet that includes a welcome guide with detailed self-check-in instructions, local recommendations, and contact information for our local team. The implementation of comprehensive software, at all levels, not only improved guest and owner satisfaction but also increased efficiency, revenue, and retention. Embracing technology while creating personalized touch points has been pivotal in elevating our brand and the overall experiences of owners and guests who utilize our vacation rental management services.”

7. Focusing on local expertise in vacation rental management

“As a vacation rental property manager, we are constantly working to improve the entire experience of the guests we host, as well as the owners that we partner with. As we look to stay ahead of the ever-evolving industry, we are focused on differentiation by being experts in our market,” suggests Compass Vacation Properties. 

“We focus on local recommendations, things to do, behind-the-scenes activities and hidden treasures in our communities. This solution not only improves guest satisfaction but also drives interest in, and business to many of our fellow local small business owners. Embracing the impact of the community has been instrumental in enhancing our guests’ experiences and improving our vacation rental management operation.”

8. Automating and integrating processes for success

“At Landlord Studio, we believe that embracing technology isn’t just about convenience – it’s about transforming the way you think about your rentals,” suggests Charles Chan, CEO of Landlord Studio. “Integrating solutions into your property management not only creates new efficiencies but is also a key step in developing your portfolio into a scalable and profitable business. Therefore, whether you have one or a hundred units, it’s essential that you possess the right tools – tools designed for you – to help you stay on top of everything from income and expense tracking to managing cleaning and maintenance.” 

9. Maximizing value in challenging times with consistent occupancy 

“During challenging times, it’s often the core and simplest strategies that produce the most consistent value and return to homeowners. While a small percentage of all homes can hold the same rates year-over-year, or even increase them, that’s not the case for a majority of homes,” says Portoro.

“Every home in the short-term rental market is its own product line with 365 opportunities to generate a sale. That means that occupancy is the primary driver of revenue, and not nightly rates. Smart property management means having the operational infrastructure to successfully produce a full calendar even at lower daily rates.

This helps the property manager and homeowner achieve the following:

  • Total revenue generated close to or at year-over-year expectations 
  • Ability to maintain the property as an STR under portfolio (avoid long term rental (LTR) discussion)
  • Steady stream of income to maintain operations, housekeeping, and vendor relations”

10. Streamlining rental management processes through online platforms

“Embracing technology is a critical stride towards achieving success in the vacation rental industry. As technology providers, we are dedicated to helping hosts and vacation rental businesses regain valuable time and boost their bottom line. Often, property operators find themselves consumed by tasks like addressing guest queries, managing calendars, pre-arrival guest communication, and coordinating cleaning services,” says Fred Bassili, Marketing Manager at Hostfully.

“However, the implementation of suitable technology can drastically reduce or even eliminate these laborious duties. The impact is profound – we’ve witnessed business owners trimming over 100 hours of weekly work to just a few hours, or attaining consistent five-star reviews by bolstering efficiency and preventing errors. When seeking technology solutions, it’s essential to define your specific challenges, attend multiple demos, and ask pertinent questions during these sessions. Since vacation rental software is not one-size-fits-all (each has strengths and weaknesses), finding the best fit for your business is paramount”

11. Setting a price strategy

“The short-term rental market has become extremely competitive and saturated with an increase of supply following the pandemic. The increase in vacation rental rental supply has created an environment where nationwide occupancy has decreased year-over-year compared to prior years. As a result many owners and operators have decreased their nightly rates to try to increase their bookings,” says Sean Bakhtiari, Founder of Seacoast Vacation Rentals.

“We have a different strategy. First, we’ve invested in new amenities and design features to make our properties standout from the crowd and create better guest experiences. Secondly, although our portfolio occupancy rate dropped slightly (four percent year-over-year), our overall revenue grew seven percent thanks to “Average Nightly Rates,” increasing by 11 percent. When many owners and operators have been reducing their nightly rates, we’ve increased them and simultaneously reduced our minimum nightly stay requirements. This flexibility has been extremely beneficial for all our properties, in this more competitive environment.”

12. Maximizing revenue and guest satisfaction

Master Vacation Homes focuses on reducing maintenance costs for owners and maximizing rental income. We are one of largest property management companies in Orlando with over 500 properties boasting the highest returns in the industry.

Here’s a few reasons we are able to bring above average returns to our clients:

  • Revenue management: We have a team responsible for pricing the homes that follow a strategic methodology that focuses on high occupancy X high daily rates.
  • Superior home care: Currently we have 16 Property Managers caring for 30-40 homes each. They are responsible for the inspection of each check-in, dealing with all things related to the care of their homes and the investors that own each property.
  • Operations and guest support: Our logistics operations are unmatched by the competition. We have designated field teams for each city area limited by a certain amount of homes so they are not overwhelmed. Our guests have support just minutes away if an emergency occurs.
  • Setting a target market: Over time we learned one of the most important lessons so far. We needed to say no to clients that were not aligned with the way we operated and with our philosophy. Firing clients is counter intuitive, because as a business, you always want as many clients as possible. But in this industry, every owner wants to impose their wishes and demands on how they think their home should be managed. It turns out, it is impossible to manage multiple homes differently. After a few years of experience and seeing what works best, we slowly transitioned to work solely with investors rather than the traditional owner of vacation homes. This solidified our identity as a Management Company and allowed us to focus in the areas we excel. 

Courtesy of Master Vacation Homes 

13. Researching markets before you enter

“We cannot stress enough how important it is to do your research first before you start your vacation rental business,” recommends Mashvisor. “The industry is more competitive than ever, so you need data, and not just observations or hearsay, to help you in making decisions. Many users of our platform end up being surprised to find out that their first choice of location might not be as lucrative as they thought. So they’re glad to have used a real estate analytics website to not just confirm or deny their initial hypothesis but to also help them find another vacation rental market to invest in.”

14. Prioritizing customer service and resolving problems quickly

“While being the owner of MATCH Property Managers, we have experienced many challenges in the vacation rental side of the business, but have worked diligently as a team to overcome the challenges associated with renting vacation properties. Guests sometimes have maintenance issues while on vacation, and we have found that top-notch customer service can easily derail any problematic issues that could create a bad review for your rental company,” suggests MATCH Property Managers

“The key advice for vacation rental managers is to maintain 24/7 availability for guests in case of issues. Utilize answering services for prompt communication. Always respond with appreciation, conveying that guest satisfaction is a top priority. Actively listen to guests, gather necessary details for repairs, and apologize for any inconvenience. Keeping $25.00 gift certificates on hand showcases care for guest experience. Avoid showing inconvenience at guest calls, as respect can be lost. Post-issue resolution, follow up with guests to ensure their comfort. Ultimately, prioritize creating a memorable and enjoyable vacation experience.”

Courtesy of MATCH Property Managers

15. Hiring local property managers for out of state STR owners

“After working in the short-term rental industry for over 13 years now, we have discovered that the most successful vacation rental properties have engaged owners. To help owners who live in another town or state from their rental property take advantage of this, we developed a hybrid property management system,” shares Scott Westfall, Owner of CGP Real Estate.

“This provides responsive on-site management through a local team, while the owner manages their online presence and booking preferences. Giving owners a way to be hands-on while operating long-distance has helped them increase bookings, revenue, and guest satisfaction by providing the personal marketing touch guests are looking for – without sacrificing quick and professional response to on-site management and guest needs.”

16. Adapting to changing market conditions

“As a vacation rental property manager, a common challenge we face in Panama City is trying to compete for occupancy during off-season. Coming out of COVID restrictions in 2021, Panama City Beach finds itself in a very saturated market regarding Vacation Rentals. Occupancy has taken a hit and as new rentals continue entering the market, everyone’s peak season seems to be getting shorter,” says Panama City Beach Airbnb Rental Property Management by Grand Welcome.

“Our approach was to implement a hybrid system of renting short-term during the summer, and mid-term during the late fall and winter. To do this we not only appeal to the Snowbird crowd, but also to the overlooked traveling professional industry. This has helped keep business on the books when otherwise we may have faced vacancies.”

17. Fostering repeat visits

“We established Vacation Rentals of North Myrtle Beach due to local companies lacking urgency and professionalism. With a modest start, we now manage 130+ properties in 13 years. Our focus is on collaborating with property owners, acting as partners to nurture their business,”  Barefoot Resort Vacations suggests. 

“As hands-on owners, we and our dedicated team strive for exceptional guest experiences, aiming for repeat visits. Any issues during stays are promptly communicated, demonstrating our commitment to swift solutions. Challenges arise, but we face them with an open mind and humor. Our motto for owners: everything is fixable, repairable, and paintable – we’re determined to deliver a sense of urgency and professional results.”

Courtesy of Barefoot Resort Vacations

18. Increasing bookings with The Big Three

“After more than $100 million in guest bookings over the course of my career in vacation property management, we’ve discovered a combination of property features which maximize guest interest, boost rental rates, and extend occupancy in nearly every market. Internally known as ‘The Big Three,’ the combination of ‘pets, water, fire’ is the insider secret,” suggests Wes Walker, CEO of Popersum. 

“Pet friendly properties routinely generate 20% (and sometimes more) than non pet properties. A water feature, such as a hot tub or modern pool, natural water view, or even an elaborate fountain also captures online attention and generates higher bookings and rates. Finally, fire as in a photographic fireplace or a fire feature near seating, extends most seasonality and produces higher interest. By combining The Big Three, competing with the traditional ‘location, location, location’ properties is not only possible, but often an outperforming combination.”

19. Forecasting a conducting thorough inspections 

“Effective vacation rental management encompasses more than just maintaining the property. We’ve embraced a forward-thinking approach, consistently conducting inspections to preemptively tackle any looming issues. Coupled with technological tools, such as predictive analytics, we’ve been able to forecast high-demand periods, ensuring optimal occupancy and unwavering quality. This comprehensive strategy has solidified our reputation as a reliable choice in Austin,” recommends STR Management.

20. Nurturing a versatile team

“As is true with any business, your employees are critical to your success. We are a relatively small vacation rental management company so when hiring our reservationists and managers, we look for people who are willing and able to be a jack-of-all-trades and exhibit the flexibility and smarts to jump in on whatever is needed and to expect the unexpected,” recommends Beach-N-Bay Getaways.

21. Adopting a software management platform when you expand

“The primary focus for property managers should be on delivering excellent experiences for guests and homeowners. However, the complexities of managing monthly statements, booking inquiries, and pricing strategies can often divert attention from this vital role. As portfolios grow, pursuing excellence becomes even more challenging, and guest reviews may slip,” shares Gather Vacation Rentals.

“At Gather, we’ve confronted these challenges firsthand. Our solution extends beyond a mere set of tools; it’s a comprehensive partnership designed to streamline various facets of property management. This includes simplifying financial reporting through an integrated accounting system, efficiently handling inquiries, creating optimal pricing strategies backed by real-time data, and enhancing marketing efforts through targeted campaigns. Moreover, we offer risk and portfolio management insights, provide business development resources to fuel growth, and support a robust tech stack that aligns with the evolving needs of the industry.”

Source: redfin.com

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Looking for ways to win business as a new Realtor? Don’t miss today’s interview with Ernesto Hernandez. Ernesto started as an investor but decided to get his real estate license in 2021. Since then, he’s seen great success in sales by applying several specific strategies. Listen and learn ways to win deals with open houses, how to help buyers mitigate higher interest rates, and what it takes to attract clients with humanized social media content.

Listen to today’s show and learn:

  • Ernesto’s start in real estate [3:47]
  • From real estate investor to licensed Realtor [5:10]
  • The story behind The 5 Hour School Week [7:56]
  • Ernesto’s first real estate transaction [8:41]
  • Proposition 19 and Ernesto’s first listing [10:14]
  • Where Ernesto gets most of his real estate clients [13:56]
  • How open houses helped Ernesto win deals [16:06]
  • How serving others serves your business [18:40]
  • What to expect with an open house right now [22:40]
  • A trick for finding open houses [23:24]
  • How to get good leads from your open houses [25:38]
  • How buyers can mitigate today’s interest rates [26:34]
  • Walking neighborhoods to win new clients [30:23]
  • Why people buy and sell real estate [32:31]
  • A buyer ecstatic about getting a home at 7.5 percent [35:46]
  • The buyers who are discouraged by today’s rates [40:31]
  • Ernesto’s favorite Real Estate Rockstars podcast [41:39]
  • How to attract clients with the humanized content [43:29]
  • The Real Estate Rockstars Mastermind [45:15]
  • Ernesto’s favorite takeaways from last year’s mastermind [47:16]
  • What makes the Real Estate Rockstars Mastermind different [48:03]
  • How to reach out to Ernesto Hernandez [51:44]

Ernesto Hernandez

Ernesto Hernandez brings an extensive sales, process management and residential real estate investing background to his role as a realtor. He enjoys leveraging cutting edge technology, data as a decision driver, tactical negotiation skills, strong vendor partnerships and streamlined processes to bring it all together to ensure you work together to obtain your goals as efficiently as possible.

When selling, you will work hand in hand to adjust Ernesto’s comprehensive preparation and marketing strategy to ensure you are making prudent decisions to obtain an optimal return on your investment.

When buying, you will leverage market trends, insightful data and clarity in both your goals and approach to ensure you reach your goals as efficiently as possible with all resources including time and money.

In his free time, Ernesto enjoys discussing all things Investment Real Estate and he is currently very active in the Indianapolis area in particular. He particularly enjoys networking, strategizing, sharing the best practices and resources, educating, systematizing, analyzing and measuring results.

Related Links and Resources:

Thank You Rockstars!

It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email.
-Aaron Amuchastegui

Source: hibandigital.com

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We all have our own preferences for everything, including TV shows. Some of us love creative storytelling, original plots, and character development. Sometimes it’s a classic RomCom, thriller, or mystery. But while we have shows we love, we also could name a few shows we never want to see. So on that note, here are some of the top shows our friends on Reddit never want to see again!

1. Keeping Up with the Kardashians

Photo Credit: Shutterstock.

While others find the Kardashian show entertaining and fun to watch, some people just can’t stand it any longer.

One person commented, “Idk how anyone does it. I got 2 episodes in (maybe?) To the 12 yr old dancing on the stripper pole and I was done.”

Another person replied, “My Girlfriend used to watch it a lot and I would be in the room while she was not really paying attention. The show is garbage….but Scott Disick is freaking hilarious.”

One commenter added, “I second that. Don’t understand why anyone wants to watch it.”

2. The Bachelor

Photo Credit: Warner Bros.

One person stated, “Generally most reality TV. Anything Bachelor-like, Real Housewives, Kardashians, that kind of thing. But even then I wouldn’t say REFUSE, they just don’t appeal to me. If my wife really wanted me to watch those with her, I’d be willing to.”

“My roommates in college were really into the bachelor for whatever reason, and I watched a couple episodes. Honestly, it just felt extremely weird to watch. A single guy/girl dating like 20 people at a time, all while having ‘deep’ connections with all of them, then dumping them weekly. All while being televised for maximum TV drama. It’s kinda stupid if you think about it. I guess it’s not my business really, but it’s not too shocking that not a lot of those final relationships last long,” another added.

3. Sister Wives

Photo Credit: Figure 8 Films.

“I used to when it started when I was bored. But TikTok just brought me back into it. Spoiler: he ends up with one wife because he has no clue how to keep 4 happy. And almost every single one of his kids dislike him. So I did enjoy that part,” one person shared.

“Thank you, finally someone mentioned it,” another person replied.

4. Riverdale

Photo Credit: Warner Bros Television Studios.

Despite the show being a “show” and just following the script, some people just wanted it to be a little more relatable or realistic.

“Euphoria, Riverdale, Outer Banks, All American. They [are all crap]. My sister loves the shows and it physically pains me how dumb these shows are,” one user commented.

5. Tiger King

Photo Credit: Universal Content Productions.

The Tiger King is a true crime documentary series that premiered on Netflix in 2020. The show focuses on the life and career of Joe Exotic, a former zookeeper and big cat breeder in Oklahoma, USA, who became embroiled in a murder-for-hire plot against his rival, animal rights activist Carole Baskin.

One person stated, “Not popular now but Tiger King. Couldn’t get over how bad those animals were treated and can’t bring myself to watch it.”

Another person commented, “I maintain that if Netflix viewers weren’t kept inside by lockdown, the show would not have been so successful. I watched it and I did not feel good about myself after.”

“Me too, I felt like the only person in the world that didn’t watch it and I felt horrible for the animals, so I refused to watch,” one Redditor added.

6. Velma

Photo Credit: Charlie Grandy Productions.

One person said, “I love that show for uniting everyone on hating it and questioning why better-animated adult series didn’t get renewed. Close Enough is owned by Warner Bros and got the ax, but they thought an animated Scooby Doo comedy without Scooby Doo or humor and a lot of social justice buzzwords deserved a second season?”

Another user added, “It’s a completely averagely mediocre show that was only given any attention because it was designed to rile people up and used a popular franchise (if it wasn’t a Scooby Doo property, I’m pretty sure nobody would be talking about it) It’s not even worth the time to hate, just move on with your lives lmao.”

One commenter added, “No redeeming qualities whatsoever. It’s just using the IP and character names to make an obnoxious show with annoying characters.”

7. The View

Photo Credit: Lincoln Square Productions.

“Just a bunch of angry women yelling over each other, avoiding any real discussion. Basically, to win an argument, all you have to do is interrupt someone, then speak louder than them,” stated one.

“A bunch of narcissistic sociopaths who dwell on conjecture, emotional rants, unsubstantiated opinions and claptrap that tows the line of their token demographics. I never thought I’d say this, but the show actually had something resembling substance and an intelligent dialogue when Barbara Walters was on it,” one person replied.

“Omg. Hate this show. And why is it so far down on the list,” a third commenter added.

8. Emily in Paris

Photo Credit: Darren Star Productions.

“My wife started watching it, so I tagged along. Didn’t like it, but started to find it weirdly fascinating as I figured out every episode was the same as the previous. Emily comes up with a great idea; bitchy boss reluctantly approves. Things go well, until she screws up. Oh no! But then everything turns out fine. In between, guys fall in love with her. It’s kind of an updated I Love Lucy—even the closing theme is similar. There must be millions of girls in high school and college who are thinking they’ll move to Paris and get a cool job and hang out with a hip friend who speaks English and every guy will fall for her,” one person said.

One commenter replied, “I’ve instead watched a bunch of YouTube videos about how terrible it is lol.”

“Same here. Every conflict is solved by her being pretty. Which…isn’t cute. It is being compared to Sex And The City, which I realize is outdated, but I was in college when it first aired and I loved it. Carrie was not beautiful, but she was charming. This show is the opposite,” Another user added.

9. This Is Us

Photo Credit: NBC.

This Is Us is a drama television series that premiered on NBC in 2016 and is still ongoing. The series is known for exploring family dynamics, including themes such as love, loss, grief, and forgiveness. The show is also known for its use of flashbacks and flash-forwards to tell its stories in a non-linear fashion.

One person shared, “Hulu has been trying to pressure me into watching that show for years.. not gonna happen.”

“I can understand why people don’t want to watch something like that, but, I watch the show with my mother and my brother and honestly, it’s kind of cathartic to be able to cry with them even if it’s a totally over-the-top absolutely unreal situation,” another commenter added.

10. Thirty Mile Zone

Photo Credit: TMZ Inc.

One person said, “It’s so bad. I respect that they tend to be right about what they report (they hate being sued), but that ‘newsroom fishbowl’ thing that they try to make funny is…not that funny, and any time I’ve ever tuned in, there’s not enough interesting stuff to fill an episode.”

Another added, “I used to watch this and after a while it became so obvious which celebrity has them on their payroll.”

11. 13 Reasons Why

Photo Credit: July Moon Productions.

“Hated that show. It almost seemed to glorify depression and [self-harm and dying] amongst the gen zers,” one person shared.

“Yeah that will forever pi** me off. I loved 13 Reasons Why. The first two seasons at least. After that, it got ridiculous. Giving Bryce a redemption arc though? That was undeserved. I would have preferred a redemption arc for Monty. At least he had problems besides not getting enough attention from mommy and daddy,” another stated.

One commenter replied, “I watched the first season for an actor who’s in it and after that, I stopped. It should’ve ended in the first season.”

12. Jersey Shore

Photo Credit: 495 Productions.

One person stated, “One time I was drinking with my elder brother and his girlfriend here at my house, and out of all the things we could watch. They chose to watch Jersey Shore. That’s when I decided we go to the bar.”

Another one added, “I’m from Jersey, but I do a lot of international travel, and for about 5 years everyone brought up that show. I’d have to explain that the fist-pumping, spiked-hair idiots weren’t even from NJ, they just invade our beaches every summer, while my friends and I laugh at them at the bars. They’re the animals at the zoo, and the rest of New Jersey were the zoo keepers.”

13. Euphoria

Photo Credit: HBO Entertainment.

“Sam Levinson is definitely a total creep. We’re gonna learn that he did a ton of sketchy stuff in a few years. Mark my words,” one person stated.

“I watched the first episode and was so disgusted that I never want to watch it again (and I am not prudish. I just really hate how they handle discussions about teenagers and [intimacy] and how they treat their female characters),” another Redditor replied.

“Not the worst show out there but it’s really not as profound as it thinks it is. Great cinematography though,” one user added.

14. 1,000-lb Sisters

Photo Credit: Black Canvas Productions.

One user commented, “1,000 lb Sisters— feels both exploitative of the obese and glorifying of the stupid at the same time. No time for that…”

Another person replied, “Modern-day freak shows.”

Another Redditor added, “Whenever I accidentally see a moment of an ad for that, I am so creeped out. Is that really a human face?”

15. Love Island

Photo Credit: ITV Studios.

“I have sat through a number of reality shows like this one with my wife, and I usually don’t mind them, but this year I told her I’m not watching Love Island anymore. The majority of the people on it are so one dimensional and I truly can’t give a s*** what happens to them, if I hear ‘I got a text!’ one more time I’m going to throw up,” one person stated.

The second person replied, “I wish just once one of these shows like Love Island, Married at first Sight, Are You the One, The Bachelor etc., had normal people. They are always all ‘influencer’ types, which just means attractive unemployed but rich 20 something with a social media following. Like I want to see anyone with a body fat over 20%, someone who struggles with poverty and working in retail, someone with a health (physical or mental) condition they are trying to manage, someone who has been divorced etc.”

16. Black Mirror

Photo Credit: Netflix.

“My ex suffered a psychotic breakdown and fully believed the show was being written specifically to send her messages. She would constantly tell me about how this character or that plotline was about her life. It was horrifying to watch. Just the opening screen makes me sick to my stomach,” one person shared.

Another commenter replied, “It def sets off anxiety prone people. My wife couldn’t watch it. I finished the whole series.” Finally, the third added, “I saw the first episode and stopped there. I still haven’t seen another one, just nope.”

17. Big Mouth

Photo Credit: Danger Goldberg Productions.

One person stated, “Why is it soooo ugly omg. I can’t get past it.”

Another user added, “I love trashy cartoons, but Big Mouth is just too trashy.”

One commenter said, “First season was quite funny if you like immature humor but after that it went downhill.”

Source: Reddit. 

Image Credit: Shutterstock – Denis Makarenko

Who is one actress you can never stand watching, no matter their role?  After polling the internet, these were the top-voted actresses that people couldn’t stand watching.

10 Actresses People Despise Watching Regardless of Their Role

These 7 Celebrities are Genuinely Good People

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We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble? 

These 7 Celebrities are Genuinely Good People

Photo Credit: Shutterstock

Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.

These 10 Activities Are an Immediate Red Flag

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Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.

10 Celebrities That Made the Big Times Then Disappeared Off The Face of the Earth

Image Credit: Troma Entertainment

We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.

These 10 Terrible Movies Are Still People’s Favorites



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Source: financequickfix.com