Looking for guidance on STR
Member since 2023 · 46 posts · 17 votes
Looking for guidance on STR
Most Popular Reply
Rental Property Investor · Hartford, CT · Member since 2017 · 168 posts · 163 votes
1y@Kyle Jacques
Well you have great photos! But- you only have one review that’s problem #1, and you are $590/night. That’s insanely expensive, and I put in for this weekend. Dynamic prices drop the price last minute so if you are looking further out it will be even more. Third- you are using Evolve so you have lost control.
You should lower your price to under $200/night. At least until you have more reviews. And maybe fire evolve and use a local PM or self manage.
Your property is beautiful, but you have priced yourself out of the market and your only amenity is a pool table. Without a hot tub, or a swimming pool, or a back yard patio you aren’t offering anything but a place to sleep. So your price needs to reflect that. Drop your prices and your calendar will fill.
36 Replies
- 1yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Make sure you are on Vrbo and Airbnb.
Lower your pricing to undercut your competition.
Doesn't matter if your pricing is set high if you have lots of unbooked days.
- Investor · Cincinnati, OH · Member since 2019 · 25 posts · 52 votes1y
Hey Brother,
We've run our cabin in Pigeon forge for 3 years, consistent $90-100K gross rev. My advice would be for sure to become a part of the FB group Short Term Rental Listing Advice through the Short Term Shop, Also become a part of the STS community and ask questions there and you will get a boost!
- 1yBradley BuxtonBusiness MemberReal Estate Agent · NV · Member since 2023 · 1k+ posts · 710 votes
I'm in the Tahoe area an it sounds like you're a similar area. If you're bookings are reduced look at your competition and what amenities are they offering. Who is your target audience to book? IF it is skiers are you providing good resources for ski delivery, transportation, tips and tricks for parking, deals on lift tickets, etc. What is the kitchen like? Can you come from a long day and cook a quick meal with an InstaPot or air fryer? Also using dynamic software pricing can help increase revenue. Updating the photos with seeming minor details can make the difference between booking your place and the place with only a drip coffee maker. You're running a "hotel", would you stay at your place or another house in the area?
- 1yPeter StewartBusiness MemberReal Estate Broker · Indianapolis, IN · Member since 2018 · 160 posts · 168 votes
Without seeing a link to your property it's hard to provide specific advice, but generally speaking it sounds like you need to "optimize" your STR listing.
To boost your activity I would do a few things:
1. Make sure you have professional photos and your staging/decor is top notch
2. Make sure your listing description is detailed, catchy, and easy to read (not just a jumbled mess of a paragraph)
3. Use a dynamic pricing tool (like Pricelabs) to be more competitive - you may have #1 and #2 dialed in, but if your pricing is off (too high) then you won't get bookings.
4. Exposure - make sure your listing is on all the main booking sites. Between Airbnb and Vrbo you probably have 95% of the market covered, but you can also get on sites like Booking.com and Google Vacation Rentals, etc for additional exposure.
5. Utilize the enemy method - like @Bradley Buxton said, take a look at your competition to see how yours compares and make adjustments accordingly
Peter Stewart Realty4.968 Reviews - Member since 2023 · 46 posts · 17 votes1y
Quote from @Peter Stewart:
Without seeing a link to your property it's hard to provide specific advice, but generally speaking it sounds like you need to "optimize" your STR listing.
To boost your activity I would do a few things:
1. Make sure you have professional photos and your staging/decor is top notch
2. Make sure your listing description is detailed, catchy, and easy to read (not just a jumbled mess of a paragraph)
3. Use a dynamic pricing tool (like Pricelabs) to be more competitive - you may have #1 and #2 dialed in, but if your pricing is off (too high) then you won't get bookings.
4. Exposure - make sure your listing is on all the main booking sites. Between Airbnb and Vrbo you probably have 95% of the market covered, but you can also get on sites like Booking.com and Google Vacation Rentals, etc for additional exposure.
5. Utilize the enemy method - like @Bradley Buxton said, take a look at your competition to see how yours compares and make adjustments accordingly
- 1yMichael BaumPro MemberOlympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
Hey @Kyle Jacques, lets get a look at the property. Where is it located?
The first year of most STRs are thin. It takes time to build up those 5 star reviews and get the traction.
Like @John Underwood said, be on both VRBO and AirBNB. Go out and look at all the units in your area onn VRBO and AirBNB. Anything similar. Check their pricing, calendar and amenities.
Then you can adjust your prices accordingly.
Regarding where to go for help/info, right here baby! Post more info, pics, the listing etc and you will get a ton of folks helping you out!
- Member since 2023 · 46 posts · 17 votes1y
168 old Bartlett rd unit A , North Conway NH
Then @northconwayrental03860 is the IG
This is my wife and I first property so we are stumbling and learning as we go.
Thanks,
Kyle
- Rental Property Investor · Hartford, CT · Member since 2017 · 168 posts · 163 votes1y
@Kyle Jacques
Well you have great photos! But- you only have one review that’s problem #1, and you are $590/night. That’s insanely expensive, and I put in for this weekend. Dynamic prices drop the price last minute so if you are looking further out it will be even more. Third- you are using Evolve so you have lost control.
You should lower your price to under $200/night. At least until you have more reviews. And maybe fire evolve and use a local PM or self manage.
Your property is beautiful, but you have priced yourself out of the market and your only amenity is a pool table. Without a hot tub, or a swimming pool, or a back yard patio you aren’t offering anything but a place to sleep. So your price needs to reflect that. Drop your prices and your calendar will fill.
- 1yAndrew SteffensBusiness MemberTampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
We consistently beat our local market by:
1 - Being on 20+ platforms. This is not possible for self managers but get on as many as possible.
2 - Daily pricing updates. Use dynamic pricing software in conjunction to you checking manually daily/near daily.
3 - Discounting slow period and longer stays.
Vacation Rentals of Florida53 Reviews - 1yJohn LitzPro MemberReno NV · Member since 2022 · 74 posts · 56 votes
1. Pro photos for the best chance to grab attention. Look at your competitors hero photos and do something different with other colors
2. Pricelabs is the most common dynamic pricing software but just make sure you’re using something.
3. Amenities have to be incredible. Hot tubs are expensive and a pain in the butt. However they are also one of the best investments to drive booking in.
4. Management- evolve sucks, get a really good manager that has a team to support both them and you. They will get you on every platform- Airbnb, Vrbo, your own booking site, booking.com, google vacation rentals, Marriott’s, Expedia, furnish finders, there are plenty of smaller ones as well. They will help with your tech stack as well such as Hostaway, pricelabs, WiFi locks, stayfi for marketing etc.
5. Design- in my market I don’t see crappy units, they are all nice. However think of a hotel room, it’s nice right but it’s also kinda boring just a place to sleep. Again look at competitors see who is being successful. Don’t copy their design make your own but look at styles that work, what can you do that makes you special, can you do a theme that will stand out?
6. You are not in a real estate business, you’re running a hospitality business. Your management has to be top notch, your marketing has to be top notch, your pricing has to constantly change with the environment, your design has to be incredible and the photos have to trigger that booking response. Gone are the days of easy money. Guests are picky and entitled so you have to be elite in your market. The goal is not to just have a nice property with a sea of other nice properties. The goal is to be in the top 10% so you have a much higher chance of getting booked, first breaking even and then creating cash flow because that is the goal of any business. Or would you rather be paying out of pocket to provide a house to your guests
- 1yCollin HaysBusiness MemberProperty Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
As others have inferred, you are in the hospitality business, and this is going to take full-on effort. I always recommend self-management, provided you have TIE. Time, Interest, and Energy.
If you are missing any of TIE, you are far better off financially hiring a local property manager.
- Member since 2023 · 46 posts · 17 votes1y
Quote from @Heidi Kenefick:
@Kyle Jacques
Well you have great photos! But- you only have one review that’s problem #1, and you are $590/night. That’s insanely expensive, and I put in for this weekend. Dynamic prices drop the price last minute so if you are looking further out it will be even more. Third- you are using Evolve so you have lost control.
You should lower your price to under $200/night. At least until you have more reviews. And maybe fire evolve and use a local PM or self manage.
Your property is beautiful, but you have priced yourself out of the market and your only amenity is a pool table. Without a hot tub, or a swimming pool, or a back yard patio you aren’t offering anything but a place to sleep. So your price needs to reflect that. Drop your prices and your calendar will fill.
Since we are using Evolve, it is very limiting with dynamic pricing . They will not let us lower price for March-June since very slow. We had a lot of bookings in July, Aug , Jan and February at the $590 rate and sept and october were not terrible. We did just get a fusball table, so that will be added and we were debating turning garage into more of game room with ping pong table.
I think I am looking at it from the wrong lens, thats why I wanted to reach out to forum.
I want this to be a vehicle for my wife and I to gain financial freedom and grow a portfolio to support the lifestyle we want when I retire.
- Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes1y
Hey @Kyle Jacques it sounds like you’ve got a prime location with strong potential, but you’re missing the structure to fill those gaps in bookings. Just creating an Instagram page won’t do much unless you’ve got a solid strategy in place to market the property. Start by targeting your audience more effectively—hone in on vacationers, outdoor enthusiasts, and families that would love your location.
Also, consider looking into property management services that specialize in short-term rentals, or even investing in some marketing tools to help boost visibility. You’ve got a good base, but turning it into a break-even or profitable investment requires more intentional planning. This is about more than just enjoying the appreciation, it's about treating it like a business.
- Lender · TX · Member since 2024 · 308 posts · 195 votes1y
Hi Kyle!
Be sure to market your listings on both Airbnb and VRBO. Using Instagram and TikTok is a great strategy—post short reels to attract guests and use hashtags for more visibility. You could also try seasonal decorations, like for Halloween or Christmas, to make your property stand out.For help managing the STR, look into property managers who specialize in short-term rentals or join local real estate groups to connect with experienced hosts. That could help you break even and get closer to buying another one!
- Accountant · San Diego, CA · Member since 2019 · 1k+ posts · 552 votes1y
Quote from @Kyle Jacques:
We have had our STR for almost a year now . We have some bookings but there a definitely massive gaps in calendar . We are right near a ski mountain and mountain biking trails . I recently created an IG page for property but not sure how to leverage that to attract more guests . I would like to at least break even since we are getting some really nice appreciation and my family likes to go there for vacations. Where can i go or who can i talk to help me better manage STR so we can ultimately get another one .
Hey Kyle,
Have you heard of STR Nation? That's a really great group about short-term rental management. I'm sure they could give you a few ideas.
- Member since 2023 · 46 posts · 17 votes1yEvolve had its purpose, but they give little flexibility with pricing. If we change price now, then it changes it for every month for entire year. I am worried though if we break from Evolve, the upfront stuff might suffer and communication with guests.
Quote from @John Litz:
1. Pro photos for the best chance to grab attention. Look at your competitors hero photos and do something different with other colors
2. Pricelabs is the most common dynamic pricing software but just make sure you’re using something.
3. Amenities have to be incredible. Hot tubs are expensive and a pain in the butt. However they are also one of the best investments to drive booking in.
4. Management- evolve sucks, get a really good manager that has a team to support both them and you. They will get you on every platform- Airbnb, Vrbo, your own booking site, booking.com, google vacation rentals, Marriott’s, Expedia, furnish finders, there are plenty of smaller ones as well. They will help with your tech stack as well such as Hostaway, pricelabs, WiFi locks, stayfi for marketing etc.
5. Design- in my market I don’t see crappy units, they are all nice. However think of a hotel room, it’s nice right but it’s also kinda boring just a place to sleep. Again look at competitors see who is being successful. Don’t copy their design make your own but look at styles that work, what can you do that makes you special, can you do a theme that will stand out?
6. You are not in a real estate business, you’re running a hospitality business. Your management has to be top notch, your marketing has to be top notch, your pricing has to constantly change with the environment, your design has to be incredible and the photos have to trigger that booking response. Gone are the days of easy money. Guests are picky and entitled so you have to be elite in your market. The goal is not to just have a nice property with a sea of other nice properties. The goal is to be in the top 10% so you have a much higher chance of getting booked, first breaking even and then creating cash flow because that is the goal of any business. Or would you rather be paying out of pocket to provide a house to your guests
- Member since 2023 · 46 posts · 17 votes1y
Quote from @Account Closed:
Quote from @Kyle Jacques:
We have had our STR for almost a year now . We have some bookings but there a definitely massive gaps in calendar . We are right near a ski mountain and mountain biking trails . I recently created an IG page for property but not sure how to leverage that to attract more guests . I would like to at least break even since we are getting some really nice appreciation and my family likes to go there for vacations. Where can i go or who can i talk to help me better manage STR so we can ultimately get another one .
Hey Kyle,
Have you heard of STR Nation? That's a really great group about short-term rental management. I'm sure they could give you a few ideas.
I have not heard about them, is it on Bigger Pockets?
- Member since 2023 · 46 posts · 17 votes1y
Quote from @Julia Lyrberg:
Hi Kyle!
Be sure to market your listings on both Airbnb and VRBO. Using Instagram and TikTok is a great strategy—post short reels to attract guests and use hashtags for more visibility. You could also try seasonal decorations, like for Halloween or Christmas, to make your property stand out.For help managing the STR, look into property managers who specialize in short-term rentals or join local real estate groups to connect with experienced hosts. That could help you break even and get closer to buying another one!
Great idea, I am going to share with my wife. She has handled all the interior design .
- Member since 2023 · 46 posts · 17 votes1y
Quote from @Bradley Buxton:
I'm in the Tahoe area an it sounds like you're a similar area. If you're bookings are reduced look at your competition and what amenities are they offering. Who is your target audience to book? IF it is skiers are you providing good resources for ski delivery, transportation, tips and tricks for parking, deals on lift tickets, etc. What is the kitchen like? Can you come from a long day and cook a quick meal with an InstaPot or air fryer? Also using dynamic software pricing can help increase revenue. Updating the photos with seeming minor details can make the difference between booking your place and the place with only a drip coffee maker. You're running a "hotel", would you stay at your place or another house in the area?
We do get a lot of skiers , how do you share info and resources to guests? Is there a app or is it through email? This is the kind of info we need to get better with and have not put that much time into yet.
- Member since 2023 · 46 posts · 17 votes1y
Quote from @Michael Baum:
Hey @Kyle Jacques, lets get a look at the property. Where is it located?
The first year of most STRs are thin. It takes time to build up those 5 star reviews and get the traction.
Like @John Underwood said, be on both VRBO and AirBNB. Go out and look at all the units in your area onn VRBO and AirBNB. Anything similar. Check their pricing, calendar and amenities.
Then you can adjust your prices accordingly.
Regarding where to go for help/info, right here baby! Post more info, pics, the listing etc and you will get a ton of folks helping you out!
thank you!
- Member since 2023 · 46 posts · 17 votes1y
Quote from @Andrew Steffens:
We consistently beat our local market by:
1 - Being on 20+ platforms. This is not possible for self managers but get on as many as possible.
2 - Daily pricing updates. Use dynamic pricing software in conjunction to you checking manually daily/near daily.
3 - Discounting slow period and longer stays.
I think our first step is leaving Evolve. As of now we cannot do #2 or #3 . Great info, thanks
- Member since 2023 · 46 posts · 17 votes1y
Quote from @Mohammed Rahman:
Hey @Kyle Jacques it sounds like you’ve got a prime location with strong potential, but you’re missing the structure to fill those gaps in bookings. Just creating an Instagram page won’t do much unless you’ve got a solid strategy in place to market the property. Start by targeting your audience more effectively—hone in on vacationers, outdoor enthusiasts, and families that would love your location.
Also, consider looking into property management services that specialize in short-term rentals, or even investing in some marketing tools to help boost visibility. You’ve got a good base, but turning it into a break-even or profitable investment requires more intentional planning. This is about more than just enjoying the appreciation, it's about treating it like a business.
What would be first step after leaving Evolve? I think this is where I get overwhelmed and stuck with not knowing what to do. I 100% don't have a plan, my wife and I bought this place as a vacation home and investment property. We kind of stumbled into it and keep stumbling as we go but not having a plan or framework for business is a major concern. I work a full time job , so time can be tough but I know that not being able to do dynamic pricing based on slow months is really hurting us.
- 1yMichael BaumPro MemberOlympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
Hey @Kyle Jacques, thanks for posting the listing.
It is a good looking place for the most part. First thing I would do is swap out the daylight color bulbs with a warmer tone. Those are 6500k and I would want 3500-4000k. Makes the place look like an exam room
$590 is a lot of dough. I would maybe rethink that a bit.
Now, on to the worst thing. Evolve. They own that listing. They own those photos. Once you leave Evolve, you will have to start over.
Seeing as you have only 1 review, getting out now is good. You aren't giving up a ton of 5 star reviews.
You will need to get a photographer, easy to do, just call a realtor in the area and they will have contacts for that.
You will need to get a new cleaner. The area has a lot of rentals so getting one should be pretty easy as is a handy person to handle quick repairs.
IMHO the toughest part is done. You have it furnished and decorated. Just update that lighting to make it look warmer and you should be good to go.
I would create a separate bank account for the place. Savings and checking. Keep the funds away from your day to day accounts.
Check your insurance. I don't know if Evolve advises on that but make sure you have the correct STR policy. If not, Proper, CBIZ, Foremost and a lot of others offer them.
Get it listed on AirBNB and VRBO. Seeing as it is already running, you can make it live right away.
Personally I would avoid dynamic pricing for a time. Look at all the rentals like yours in the area and undercut them by 10-20% for the next couple of months at least. Get those bookings going. Then implement Pricelabs or whatever you choose, but don't go radical. If you price it at $250 a night on your own, don't let Pricelabs boost it to $500 overnight. Put a limit and stagger it so as not to look crazy.
Full disclosure, I don't do dynamic pricing.
Once it is up and running, it isn't that tough to keep it going. Make sure you stay up on maintenance. Service the furnace, A/C and water heater regularly. Furnace and A/C should be 2x a year. Water tank should be yearly.
You can do it Kyle. We manage our lake house from 7 hours away and have been doing it for 7 years. No issues at all.
Keep asking questions here. Start a new thread on specific topics. Read more of the forum. There is a ton of info here.
Looking forward to seeing you get ahead my man!
- Member since 2023 · 46 posts · 17 votes1y
Quote from @Michael Baum:
Hey @Kyle Jacques, thanks for posting the listing.
It is a good looking place for the most part. First thing I would do is swap out the daylight color bulbs with a warmer tone. Those are 6500k and I would want 3500-4000k. Makes the place look like an exam room
$590 is a lot of dough. I would maybe rethink that a bit.
Now, on to the worst thing. Evolve. They own that listing. They own those photos. Once you leave Evolve, you will have to start over.
Seeing as you have only 1 review, getting out now is good. You aren't giving up a ton of 5 star reviews.
You will need to get a photographer, easy to do, just call a realtor in the area and they will have contacts for that.
You will need to get a new cleaner. The area has a lot of rentals so getting one should be pretty easy as is a handy person to handle quick repairs.
IMHO the toughest part is done. You have it furnished and decorated. Just update that lighting to make it look warmer and you should be good to go.
I would create a separate bank account for the place. Savings and checking. Keep the funds away from your day to day accounts.
Check your insurance. I don't know if Evolve advises on that but make sure you have the correct STR policy. If not, Proper, CBIZ, Foremost and a lot of others offer them.
Get it listed on AirBNB and VRBO. Seeing as it is already running, you can make it live right away.
Personally I would avoid dynamic pricing for a time. Look at all the rentals like yours in the area and undercut them by 10-20% for the next couple of months at least. Get those bookings going. Then implement Pricelabs or whatever you choose, but don't go radical. If you price it at $250 a night on your own, don't let Pricelabs boost it to $500 overnight. Put a limit and stagger it so as not to look crazy.
Full disclosure, I don't do dynamic pricing.
Once it is up and running, it isn't that tough to keep it going. Make sure you stay up on maintenance. Service the furnace, A/C and water heater regularly. Furnace and A/C should be 2x a year. Water tank should be yearly.
You can do it Kyle. We manage our lake house from 7 hours away and have been doing it for 7 years. No issues at all.
Keep asking questions here. Start a new thread on specific topics. Read more of the forum. There is a ton of info here.
Looking forward to seeing you get ahead my man!
This is prefect , I got so many good ideas for next steps from this post but you really laid it out for me. Why don't you use dynamic pricing? I like the idea of 10-20% lower than comps , especially in slower months. Thank you.
- Member since 2023 · 46 posts · 17 votes1y
Quote from @Michael Baum:
Hey @Kyle Jacques, thanks for posting the listing.
It is a good looking place for the most part. First thing I would do is swap out the daylight color bulbs with a warmer tone. Those are 6500k and I would want 3500-4000k. Makes the place look like an exam room
$590 is a lot of dough. I would maybe rethink that a bit.
Now, on to the worst thing. Evolve. They own that listing. They own those photos. Once you leave Evolve, you will have to start over.
Seeing as you have only 1 review, getting out now is good. You aren't giving up a ton of 5 star reviews.
You will need to get a photographer, easy to do, just call a realtor in the area and they will have contacts for that.
You will need to get a new cleaner. The area has a lot of rentals so getting one should be pretty easy as is a handy person to handle quick repairs.
IMHO the toughest part is done. You have it furnished and decorated. Just update that lighting to make it look warmer and you should be good to go.
I would create a separate bank account for the place. Savings and checking. Keep the funds away from your day to day accounts.
Check your insurance. I don't know if Evolve advises on that but make sure you have the correct STR policy. If not, Proper, CBIZ, Foremost and a lot of others offer them.
Get it listed on AirBNB and VRBO. Seeing as it is already running, you can make it live right away.
Personally I would avoid dynamic pricing for a time. Look at all the rentals like yours in the area and undercut them by 10-20% for the next couple of months at least. Get those bookings going. Then implement Pricelabs or whatever you choose, but don't go radical. If you price it at $250 a night on your own, don't let Pricelabs boost it to $500 overnight. Put a limit and stagger it so as not to look crazy.
Full disclosure, I don't do dynamic pricing.
Once it is up and running, it isn't that tough to keep it going. Make sure you stay up on maintenance. Service the furnace, A/C and water heater regularly. Furnace and A/C should be 2x a year. Water tank should be yearly.
You can do it Kyle. We manage our lake house from 7 hours away and have been doing it for 7 years. No issues at all.
Keep asking questions here. Start a new thread on specific topics. Read more of the forum. There is a ton of info here.
Looking forward to seeing you get ahead my man!
If I do leave Evolve today , what happens to all my bookings in Jan and February? DO they cancel them or do they transfer over? I did purchase the pictures evolve took a while back, so I do own the photos. That's the part I am worried about it.
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