Good morning BP,
I own an STR in the New Orleans area that is listed on airBNB and VRBO. I used Pricelabs to set my nightly rates which dynamically adjusts rates on a daily basis. Might nightly rate is currently set to the bottom 40th percentile of prices for our area. I have posted links to my personal Facebook and Instagram accounts as well as actively post to tourist groups on Facebook as well advertising our property. I have also tried SEO ad placement to attract more views to my listing. I am also reaching out to travel agents who specialize in the New Orleans market and giving them commission agreements for clients they book with my property. So far, my occupancy rates are in the 5 to 10% so I am getting some success but am looking at additional ideas for how to market to get closer to our regional average of 50% occupancy. What marketing strategies have other STR investors used to increase their occupancy rates? I am very open to any and all ideas.
You gotta have pro photos. First and foremost!
Title: it should have highlights about the property in it
Description: bullet points. Avoid large blocks of text
Interior: it feels empty. Small things like updating some bedding and adding some art will help
What does the STR look like, and are you marketing to a niche that you have chosen and "built" you STR for?
Good morning BP,
I own an STR in the New Orleans area that is listed on airBNB and VRBO. I used Pricelabs to set my nightly rates which dynamically adjusts rates on a daily basis. Might nightly rate is currently set to the bottom 40th percentile of prices for our area. I have posted links to my personal Facebook and Instagram accounts as well as actively post to tourist groups on Facebook as well advertising our property. I have also tried SEO ad placement to attract more views to my listing. I am also reaching out to travel agents who specialize in the New Orleans market and giving them commission agreements for clients they book with my property. So far, my occupancy rates are in the 5 to 10% so I am getting some success but am looking at additional ideas for how to market to get closer to our regional average of 50% occupancy. What marketing strategies have other STR investors used to increase their occupancy rates? I am very open to any and all ideas.
Congrats on the starting success!
It's hard to say what will work without seeing your listing, location, etc. I'd recommend finding out where other investors in your area are getting bookings and focus on that. For my rentals in Destin/PCB, 95% of bookings are on Airbnb. So, we spend 95% of our time optimizing our Airbnb listing.
A few things you can try is changing your title to something catchy such as " 2023 Remodel | Walk to Bourbon|". Obviously whatever it is, it has to be true. Guests love two things, convenience (location) & Cleanliness.
I hope this helps!
It shouldn't be this hard. There's something wrong with your listing or property. Can you post a link?
Good morning BP,
I own an STR in the New Orleans area that is listed on airBNB and VRBO. I used Pricelabs to set my nightly rates which dynamically adjusts rates on a daily basis. Might nightly rate is currently set to the bottom 40th percentile of prices for our area. I have posted links to my personal Facebook and Instagram accounts as well as actively post to tourist groups on Facebook as well advertising our property. I have also tried SEO ad placement to attract more views to my listing. I am also reaching out to travel agents who specialize in the New Orleans market and giving them commission agreements for clients they book with my property. So far, my occupancy rates are in the 5 to 10% so I am getting some success but am looking at additional ideas for how to market to get closer to our regional average of 50% occupancy. What marketing strategies have other STR investors used to increase their occupancy rates? I am very open to any and all ideas.
Congrats on the starting success!
It's hard to say what will work without seeing your listing, location, etc. I'd recommend finding out where other investors in your area are getting bookings and focus on that. For my rentals in Destin/PCB, 95% of bookings are on Airbnb. So, we spend 95% of our time optimizing our Airbnb listing.
A few things you can try is changing your title to something catchy such as " 2023 Remodel | Walk to Bourbon|". Obviously whatever it is, it has to be true. Guests love two things, convenience (location) & Cleanliness.
I hope this helps!
Thanks for the advice. 100% of our listings come from airBNB as well so we spent time trying to optimize that as well. I'll send the listing here so would be happy to hear any input you have on things that we could change to improve it. We are located a bit further uptown from Bourbon Street but are next to the street car line that goes to Bourbon. The primary draws of our location are the architecture, restaurants, extremely safe location, and parade routes so we tried to emphasize that as much as we could in our listing.
I would revisit your pictures and description.
Something is not right.
What does the STR look like, and are you marketing to a niche that you have chosen and "built" you STR for?
Here is the link to the STR:
https://www.airbnb.com/rooms/6...
The main niche that we are aiming for is for families who want to visit New Orleans but stay in a quieter/safer neighborhood instead of the French Quarter. We chose our location further uptown in the Uptown/Garden District area so our main draw is the local restaurants, historic buildings, easy access to public transportation, and very safe area. We are also near in ground zero of the Mardi Gras celebrations so were able to do incredibly well during Mardi Gras season but are hoping to increase our occupancy the rest of the year.
It shouldn't be this hard. There's something wrong with your listing or property. Can you post a link?
Sure, no problem. Here is the link. I'd be happy to listen to any advice that you have on how to edit it.
My low end rentals do not have window air-conditioning. That would turn me off.
Also you have 2 different color appliances. I would make these all stainless.
You gotta have pro photos. First and foremost!
Title: it should have highlights about the property in it
Description: bullet points. Avoid large blocks of text
Interior: it feels empty. Small things like updating some bedding and adding some art will help
What does the STR look like, and are you marketing to a niche that you have chosen and "built" you STR for?
Here is the link to the STR:
https://www.airbnb.com/rooms/6...
The main niche that we are aiming for is for families who want to visit New Orleans but stay in a quieter/safer neighborhood instead of the French Quarter. We chose our location further uptown in the Uptown/Garden District area so our main draw is the local restaurants, historic buildings, easy access to public transportation, and very safe area. We are also near in ground zero of the Mardi Gras celebrations so were able to do incredibly well during Mardi Gras season but are hoping to increase our occupancy the rest of the year.
What does the STR look like, and are you marketing to a niche that you have chosen and "built" you STR for?
Here is the link to the STR:
https://www.airbnb.com/rooms/6...
The main niche that we are aiming for is for families who want to visit New Orleans but stay in a quieter/safer neighborhood instead of the French Quarter. We chose our location further uptown in the Uptown/Garden District area so our main draw is the local restaurants, historic buildings, easy access to public transportation, and very safe area. We are also near in ground zero of the Mardi Gras celebrations so were able to do incredibly well during Mardi Gras season but are hoping to increase our occupancy the rest of the year.
Couple thoughts:
1. Your pictures are bad. Hire a professional photographer and have them shoot in the day when you can open the windows and get some natural light.
2. The layout is super awkward. Where are 8 people going to hang out together? A personal rule of thumb is that there needs to be enough room at the dinner table and seating in the living area for everyone that you accommodate. This isn't always possible, but sleeping 8 and seating 4 is unacceptable. Same for the outdoor area.
3. Titles are less important these days, but you've wasted 75% of yours. I don't need "4 br" in the title because if it matters I've already put that as a search filter. Don't care that it's "Victorian," don't know what "uptown" means, and obviously it's a "home."
My low end rentals do not have window air-conditioning. That would turn me off.
Also you have 2 different color appliances. I would make these all stainless.
Thanks for the advice. We were actually planning on installing ductless AC splits in the property in the near future and have gotten quotes from a contractor for those. They are on our list of property improvements in the intermediate future once we finish off some other priority renovations first. We have seen ductless units begin popping up here and there in the neighborhood so want to offer that as well to stand out from other listings. Window units are still by far the most common type in the city, at least in the areas were tourists are interested in going too. We have asked about central air but the buildings are too old and there is not space to accommodate installing ducts.
The stainless steel appliance though is definitely something we can look into doing sooner rather than later. It didn't occur to me that this would be a noticeable issue. I appreciate that advice.
My low end rentals do not have window air-conditioning. That would turn me off.
Also you have 2 different color appliances. I would make these all stainless.
Thanks for the advice. We were actually planning on installing ductless AC splits in the property in the near future and have gotten quotes from a contractor for those. They are on our list of property improvements in the intermediate future once we finish off some other priority renovations first. We have seen ductless units begin popping up here and there in the neighborhood so want to offer that as well to stand out from other listings. Window units are still by far the most common type in the city, at least in the areas were tourists are interested in going too. We have asked about central air but the buildings are too old and there is not space to accommodate installing ducts.
The stainless steel appliance though is definitely something we can look into doing sooner rather than later. It didn't occur to me that this would be a noticeable issue. I appreciate that advice.
Honestly for this property the AC is not where I'd be investing first. I personally don't see it as a major issue that's costing you bookings (plus you can photograph around it). I would spend money on decorating and other things to make it more attractive/fun.
What does the STR look like, and are you marketing to a niche that you have chosen and "built" you STR for?
Here is the link to the STR:
https://www.airbnb.com/rooms/6...
The main niche that we are aiming for is for families who want to visit New Orleans but stay in a quieter/safer neighborhood instead of the French Quarter. We chose our location further uptown in the Uptown/Garden District area so our main draw is the local restaurants, historic buildings, easy access to public transportation, and very safe area. We are also near in ground zero of the Mardi Gras celebrations so were able to do incredibly well during Mardi Gras season but are hoping to increase our occupancy the rest of the year.
I appreciate your input. The photos have been brought up several times. I'm still fairly new to the STR market to be honest so I hadn't realized the photos were that bad. I do appreciate that advice so will be looking into hiring a professional photographer shortly. As far as design: could you elaborate on that a bit more? What aspects of the design do you think need to be changed?
Also can you elaborate more which part of my views you are referring to from the previous post? If it's for seasonality, then I do agree with you. Late May and onwards is a slow season for New Orleans and that lasts until mid-October. We have already began advertising and taking applications for medium term rentals starting on July 1st. I'm not complaining of course, February was our peak season and we did amazing that month so taking the good with the bad.
What does the STR look like, and are you marketing to a niche that you have chosen and "built" you STR for?
Here is the link to the STR:
https://www.airbnb.com/rooms/6...
The main niche that we are aiming for is for families who want to visit New Orleans but stay in a quieter/safer neighborhood instead of the French Quarter. We chose our location further uptown in the Uptown/Garden District area so our main draw is the local restaurants, historic buildings, easy access to public transportation, and very safe area. We are also near in ground zero of the Mardi Gras celebrations so were able to do incredibly well during Mardi Gras season but are hoping to increase our occupancy the rest of the year.
Couple thoughts:
1. Your pictures are bad. Hire a professional photographer and have them shoot in the day when you can open the windows and get some natural light.
2. The layout is super awkward. Where are 8 people going to hang out together? A personal rule of thumb is that there needs to be enough room at the dinner table and seating in the living area for everyone that you accommodate. This isn't always possible, but sleeping 8 and seating 4 is unacceptable. Same for the outdoor area.
3. Titles are less important these days, but you've wasted 75% of yours. I don't need "4 br" in the title because if it matters I've already put that as a search filter. Don't care that it's "Victorian," don't know what "uptown" means, and obviously it's a "home."
1) The pictures were brought up a few times so I will absolutely be looking into hiring a professional photographer to fix that in the near future.
2) We have a city mandate that will go into effect on July 1st that will cap the maximum number of bedrooms allowed in an STR listing to 3 bedrooms and 6 people in total. So we are going to be converting one of the bedrooms into a common room in the near future that will hopefully create more of a common area. What do you think would be a good type of room to convert the bedroom into? TV room? Den? Sitting room? Other idea? We have a secondary table that we have for guests who need additional space for dinner. Its a foldable table that we keep in the closet but doesn't really fit the decor so we didn't stage it for photos. Do you think this temporary table setup is enough or would you suggest looking into getting a different table completely?
3) Any advice on what you would change the title too or what buzz words might make it stand out a bit more?
You gotta have pro photos. First and foremost!
Title: it should have highlights about the property in it
Description: bullet points. Avoid large blocks of text
Interior: it feels empty. Small things like updating some bedding and adding some art will help
I appreciate that advice a lot! The photos have been brought up a few times so I am already reaching out for referrals to get a professional photographer involved.
The title also came up. Do you have any advice on what you might highlight in the title instead? The main draws for our area are the safe neighbor, historic buildings around the neighborhood, and a lot restaurants and shops nearby.
Interior: I do like your idea to update the bedding so I will absolutely take that under advisement. For art, we have been actively picking up art here and there but we can increase the décor a bit more. We are hoping to incorporate more local art into our design with photos and paintings from some of the sites around the city. I was also thinking about hanging some of our Mardi Gras throws around the unit but was worried this might come off as a bit tacky. What are your thoughts about this?
My low end rentals do not have window air-conditioning. That would turn me off.
Also you have 2 different color appliances. I would make these all stainless.
Thanks for the advice. We were actually planning on installing ductless AC splits in the property in the near future and have gotten quotes from a contractor for those. They are on our list of property improvements in the intermediate future once we finish off some other priority renovations first. We have seen ductless units begin popping up here and there in the neighborhood so want to offer that as well to stand out from other listings. Window units are still by far the most common type in the city, at least in the areas were tourists are interested in going too. We have asked about central air but the buildings are too old and there is not space to accommodate installing ducts.
The stainless steel appliance though is definitely something we can look into doing sooner rather than later. It didn't occur to me that this would be a noticeable issue. I appreciate that advice.
Honestly for this property the AC is not where I'd be investing first. I personally don't see it as a major issue that's costing you bookings (plus you can photograph around it). I would spend money on decorating and other things to make it more attractive/fun.
We are actively buying more paintings as we find them around the city to add to the STR. I was also thinking about adding some of our Mardi Gras parade throws to the design too but was worried about it looking more tacky than fun. What do you think about that idea? What kind of decorations have you seen in the past that stood out to you that you think might work in this unit?
Hey @Konstantin Ginzburg, I think the others have covered most of what is going on.
If you must convert that bedroom, then a game room would be a nice addition.
I would get a bigger table. It looks like you have room.
Frankly, i might also engage the services of an interior designer. The whole place has a feeling of thrown together. You have some nice pieces mixed in with cheap ones. There needs to be more continuity.
The artwork needs to be more cohesive. You have a impressionist print right near a pic of what appears to be a Yellowstone hot spring pool.
Why is there a twin bed in that one bedroom? It looks like you could easily fit a queen in there.
There is more but I would get the interior squared away furnishing and art wise, then pics.
What does the STR look like, and are you marketing to a niche that you have chosen and "built" you STR for?
Here is the link to the STR:
https://www.airbnb.com/rooms/6...
The main niche that we are aiming for is for families who want to visit New Orleans but stay in a quieter/safer neighborhood instead of the French Quarter. We chose our location further uptown in the Uptown/Garden District area so our main draw is the local restaurants, historic buildings, easy access to public transportation, and very safe area. We are also near in ground zero of the Mardi Gras celebrations so were able to do incredibly well during Mardi Gras season but are hoping to increase our occupancy the rest of the year.
I appreciate your input. The photos have been brought up several times. I'm still fairly new to the STR market to be honest so I hadn't realized the photos were that bad. I do appreciate that advice so will be looking into hiring a professional photographer shortly. As far as design: could you elaborate on that a bit more? What aspects of the design do you think need to be changed?
Also can you elaborate more which part of my views you are referring to from the previous post? If it's for seasonality, then I do agree with you. Late May and onwards is a slow season for New Orleans and that lasts until mid-October. We have already began advertising and taking applications for medium term rentals starting on July 1st. I'm not complaining of course, February was our peak season and we did amazing that month so taking the good with the bad.
Don't feel bad about anything, especially the photos! Most people have photos like yours, so it's a general look on airbnb/vrbo. Which is why a lot of people have less bookings and think the market is dropping and even totally going away.
Design of the house....You need to theme this place out big time! It only took me a minute to check airdna and there is close to 500 four-bedroom homes in your area. Most are right around you and up into the east side of mid-town. Your property has to absolutely stand out! You mentioned you have Mardi Gras items, maybe you should give it a total Mardi Gras theme (so long as there aren't too many other STR in the city with the same theme), or something culture related to the city. People should step inside your property and feel like they stepped into another world. Your area is too competitive not to make your STR that way. Use wallpaper, unique furniture, candy/cereal dispensers in the kitchen, bright colors, definitely add that game room, etc. You're not living here so have fun and make it eye catching!
Not enough seating in the living and dining room is a huge pet peeve of mine! Probably because I've stayed at one-to-many STR that didn't have enough and it's annoying! You have a unique space but from what I can see I would recommend switching the living and dining room areas. You could put the TV on a table against the small wall, and then a couch and chairs on the larger wall. And if you put wallpaper and a neon sign on that wall too, you'll have yourself an Instagram wall! If I counted your flooring tile right, you should have just enough room for a table where the living room space is now. Instead of a round table go long and skinny with benches on either side and chairs (something that would feel light and airy) on either end. Hopefully then you would have enough seating at a table for 6 people.
Usually, people only look at the first 5 photos before they decided to back out of the listing or keep going to another listing. So, make those first five count and try not to have any doubles. And if you want more marketing tips go give Bill Faeth a follow-on social media, he has LOTS of free content.
As for the post I mentioned earlier...You can't look at this as a passive, less steady income, and higher risk investment. Can it be all those things, for sure if you let that happen! Look at STR and particularly this market you're in as... "I'll learn this market inside and out; I'll be the absolute best and offer what my competitors can't. Yes, there are 477 four-bedroom homes all around my property, but I'll be the best in cleanliness, amenities, service, uniqueness, I'll offer what all the others don't."
It's all strategy and learning the playing field! Find what works best for you and puts your property ahead, believe in yourself and what your property can do! Before long you'll be in the 90% percentile in revenue of all properties that compare to yours!
Your first picture shows bars on the door. This doesn't give an initial feeling of safe neighborhood. If it is safe then maybe remove those from your property however I see other properties your attached to also have bars on doors so not sure how you can make it feel safer in the pics. For your door maybe put on a storm door instead which has a glass look?
What does the STR look like, and are you marketing to a niche that you have chosen and "built" you STR for?
Here is the link to the STR:
https://www.airbnb.com/rooms/6...
The main niche that we are aiming for is for families who want to visit New Orleans but stay in a quieter/safer neighborhood instead of the French Quarter. We chose our location further uptown in the Uptown/Garden District area so our main draw is the local restaurants, historic buildings, easy access to public transportation, and very safe area. We are also near in ground zero of the Mardi Gras celebrations so were able to do incredibly well during Mardi Gras season but are hoping to increase our occupancy the rest of the year.
Couple thoughts:
1. Your pictures are bad. Hire a professional photographer and have them shoot in the day when you can open the windows and get some natural light.
2. The layout is super awkward. Where are 8 people going to hang out together? A personal rule of thumb is that there needs to be enough room at the dinner table and seating in the living area for everyone that you accommodate. This isn't always possible, but sleeping 8 and seating 4 is unacceptable. Same for the outdoor area.
3. Titles are less important these days, but you've wasted 75% of yours. I don't need "4 br" in the title because if it matters I've already put that as a search filter. Don't care that it's "Victorian," don't know what "uptown" means, and obviously it's a "home."
1) The pictures were brought up a few times so I will absolutely be looking into hiring a professional photographer to fix that in the near future.
2) We have a city mandate that will go into effect on July 1st that will cap the maximum number of bedrooms allowed in an STR listing to 3 bedrooms and 6 people in total. So we are going to be converting one of the bedrooms into a common room in the near future that will hopefully create more of a common area. What do you think would be a good type of room to convert the bedroom into? TV room? Den? Sitting room? Other idea? We have a secondary table that we have for guests who need additional space for dinner. Its a foldable table that we keep in the closet but doesn't really fit the decor so we didn't stage it for photos. Do you think this temporary table setup is enough or would you suggest looking into getting a different table completely?
3) Any advice on what you would change the title too or what buzz words might make it stand out a bit more?
You probably have a better idea of what your target guests would use than I do. If it's families that want a safe place then I'd be looking at either a theater style room or games.
For the title, I'd emphasize the safety of the neighborhood and other characteristics - "trendy" "walkable" "5 mins to downtown"
Are you marketing directly to your previous guests? If not, I would recommend StayFI. This could help
I do Google Ads but it’s only worth it if you’ve got a direct booking website you can point people to. Other idea that works is social media, but it takes a long time to build.
Does your unit have stairs or is it ground level? Can't tell. My impression of the outside is "there are 4 units in there??" Looks very dense. Enough parking for all 4? Is there a patio or back yard space? Is it shared by everyone. Agree with prior comments but also put nightstands on each side of each bed. Really annoying to not have a place to put phones, glasses, a book at night. Especially agree on the dining room table. Go for big table, much smaller backed chairs. Grouted tile floors never seem clean enough to me. I would replace with LVP. Best wishes.
Thanks for all that advice and I fully agree with you. We are viewing this as a very active investment hence why we are on here trying to learn new ways to continue being active. This is our first time in the STR market space so there is a learning curve with this market compared with the traditional long term that we have been operating in before. We are very excited about this venture and looking for ways to improve and continue to get better. Luckily all our expenses are being met and we are generating a profit on most months even with our low occupancy rates so we are not in panic mode.
I do really like your theme idea. Our initial plans were too make each bedroom a separate theme with the themes being: Mardi Gras, Bourbon Street, Victorian, and Jazz. Do you think this would be a decent idea or would you suggest having a single theme throughout the entire unit? There are definitely some elements of Mardi Gras themes in a lot of the STRs in our area but it seems like most are going with a "simple elegance" theme in their listings and I agree having a more colorful theme would make us stand out more. We are in the initial phases of planning out how to redecorate the unit. Our city has passed a new that will go into effect July that heavily restricts STR permits so we are waiting to find out whether or not we will be able to secure a new permit before we invest in a large remodel but its absolutely one of the top items on our priority list.
We were thinking about pasting on murals on most of the walls in the common area as well that is New Orleans themed as well. I appreciate all your advice and really hope we wind up in that 90th percentile. :)