The mainstreaming of the vacation rental industry is no longer in question. This is the new way people want to travel. If you have a property that doesn't have an HOA/or local restriction against it, and it's close to a beach, mountain, or lake - people will book it.
Last year we found a great deal on a new home. The house we were living in would not cashflow as a regular rental. We are in the Los Angeles market, we put 5% down to get it 4 years prior. Short term renting our previous residence allowed us to keep it and we are now cash flowing a minimum of 1500 a month from it through Airbnb. The STR strategy will empower new investors to get to the next level, and grow that portfolio.
I currently house hack an STR in the basement of my home in Fountain, CO. It's right on the border of Colorado Springs and as many know, the city (both the Springs and Fountain, are growing rather rapidly). During the summer months, increasing the nightly rate is rather easy. The rate needs to be reduced during the winter months to continue business but nonetheless, the demand is still there. I think STR has a bright future in the Colorado Springs area for sure.
This is amazing! I’ve had this thought with RV’s, I’m so glad to hear it’s working for y’all!
Where do you keep it btw guests? Do y’all keep it stationary or let guests take it out to destinations of their choice?
Such a cool concept, I love it.
I have so many questions! Would you be up for a chat to discuss details of how you’ve been successful with yours? Thank you so much!
@Daniel Nobbs awesome and unique strategy! Where was the rv parked for the guests who booked on Airbnb?
@Daniel Nobbs great idea! Would love to learn if your guests pick up the RV or if you already have it parked somewhere specific and its stationary?
So there are STR's that are just Airbnb's some of these suffered during the pandemic. Then there are STR's that are true vacation rentals (VRBO's) where you would take your family on vacation. The ones around Disney and other theme parks likely suffered when these parks were shut down.
True Vacation rentals that are on a lake or river, on a beach, in the mountains etc thrived in 2021.
I use both Vrbo and Airbnb and since I am on a lake, families come from near and far to vacation at my house. This is the reason Vrbo works so much better than Airbnb for me. Although I have seen a small uptake in Airbnb bookings in 2021.