Investor · Charleston, SC · Member since 2021 · 263 posts · 122 votes
My wife and I are under contract for a STR in downtown Charleston, SC. The value add will be in the operations as the current owner(s) haven't kept their fingers on the pulse to run it at it's peak. Looking through the numbers and data, the "missing piece" seems to be migrating to more direct bookings and weekday rentals. Also, the check-in process if very manual, requiring someone to handover fobs to unlock the door.
We are looking to partner with local event planners and corporate travel bookers to help fill weekday gaps and potential book the entire property (3/3 on each of the three floors). We are also looking at smart locks to integrate into Jurny PMS.
Does anyone else have suggestions for increasing weekday rentals? Migrating to more direct bookings? Smart lock suggestions?
Lender · All 50 States · Member since 2020 · 248 posts · 142 votes
2y
The Schlage Encode is what I’ve had success with. Easy platform to program guest specific codes. If in a high humidity area out a moisture absorber in the batter compartment and put it on your cleaners punch list to change out twice a month
Charleston, SC · Member since 2018 · 182 posts · 73 votes
2y
@Cody Lewis have you spoke to Mike Savage about his revenue management for STRs? He does this for mine for a low flat monthly fee and he really helps fill up the weekdays/off seasons and optimize booking revenue during the peak times.
My wife and I are under contract for a STR in downtown Charleston, SC. The value add will be in the operations as the current owner(s) haven't kept their fingers on the pulse to run it at it's peak. Looking through the numbers and data, the "missing piece" seems to be migrating to more direct bookings and weekday rentals. Also, the check-in process if very manual, requiring someone to handover fobs to unlock the door.
We are looking to partner with local event planners and corporate travel bookers to help fill weekday gaps and potential book the entire property (3/3 on each of the three floors). We are also looking at smart locks to integrate into Jurny PMS.
Does anyone else have suggestions for increasing weekday rentals? Migrating to more direct bookings? Smart lock suggestions?
Charleston is such a great market. Does the home have amenities? I see a lot of properties failing due to poor design and lack of amenities.