What is your biggest struggle in the STR world right now?
Garrett BrownPro Member
Rental Property Investor · Houston, TX · Member since 2024 · 515 posts · 553 votesWhat is your biggest struggle in the STR world right now?
Most Popular Reply
Rental Property Investor · Philadelphia, PA · Member since 2016 · 543 posts · 716 votes
1yQuote from @Garrett Brown:
What is your biggest pain point with STRs right now? We are working on more resources to help new and experienced hosts here at BiggerPockets. Real feedback of struggles or topics people want to dive in further helps us create the content that truly inspires and educates our community.
Mine is definitely finding the right deal that fits my buy box lately. It has been frustrating but it also is a positive as I now can quickly know what deals to not even waste time on analyzing.
What is your biggest struggle?
Prices are high in most markets and if/when you do buy, your competition is fierce thus pushing down nightly rates and occupancy rates in almost every worthwhile market
Good luck fixing that!
48 Replies
- 1yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Nothing that paying for a 3rd party app to automate functions will fix.
If I had to pick something it would be getting higher occupancy rates.
Overall things are great.
- Rental Property Investor · Philadelphia, PA · Member since 2016 · 543 posts · 716 votes1yEveryone’s got the same problem: STR oversaturation
Quote from @Garrett Brown:
What is your biggest pain point with STRs right now? We are working on more resources to help new and experienced hosts here at BiggerPockets. Real feedback of struggles or topics people want to dive in further helps us create the content that truly inspires and educates our community.
Mine is definitely finding the right deal that fits my buy box lately. It has been frustrating but it also is a positive as I now can quickly know what deals to not even waste time on analyzing.
What is your biggest struggle?
Prices are high in most markets and if/when you do buy, your competition is fierce thus pushing down nightly rates and occupancy rates in almost every worthwhile market
Good luck fixing that!
- Rental Property Investor · Houston, TX · Member since 2024 · 515 posts · 553 votes1yI'm definitely not an app developer so no worries about me making one that can help. I think we have enough software in the STR world lol
Quote from @John Underwood:
Nothing that paying for a 3rd party app to automate functions will fix.
If I had to pick something it would be getting higher occupancy rates.
Overall things are great.
What if we made a guide to increase occupancy rates that centers around marketing, guest experience, and ways to stand out in saturated markets that isn't simply "buy more amenities"? - 1yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votesThat sounds interesting.
Quote from @Garrett Brown:
I'm definitely not an app developer so no worries about me making one that can help. I think we have enough software in the STR world lolQuote from @John Underwood:
Nothing that paying for a 3rd party app to automate functions will fix.
If I had to pick something it would be getting higher occupancy rates.
Overall things are great.
What if we made a guide to increase occupancy rates that centers around marketing, guest experience, and ways to stand out in saturated markets that isn't simply "buy more amenities"?
Would this be something different from what you can Google and find other articles on? - Rental Property Investor · Houston, TX · Member since 2024 · 515 posts · 553 votes1yI hear you, I think the price of turn key STRs are almost impossible to make money on in the traditional markets.
Quote from @Mark Miles:
Everyone’s got the same problem: STR oversaturationQuote from @Garrett Brown:
What is your biggest pain point with STRs right now? We are working on more resources to help new and experienced hosts here at BiggerPockets. Real feedback of struggles or topics people want to dive in further helps us create the content that truly inspires and educates our community.
Mine is definitely finding the right deal that fits my buy box lately. It has been frustrating but it also is a positive as I now can quickly know what deals to not even waste time on analyzing.
What is your biggest struggle?
Prices are high in most markets and if/when you do buy, your competition is fierce thus pushing down nightly rates and occupancy rates in almost every worthwhile market
Good luck fixing that!
What if we dive into how to find markets that are not oversaturated but still lie in an opportunity zone? Or how to create unique experiences that guest will crave?
One of my most profitable STRs ventures is not in a vacation market but it is a unique experience that is within an hour of a major metro hub. AirDNA projected we would make 25K the first year and all 3 of my cabins surpassed that ($110k, $88k, and $65k all on one piece of land).
- Rental Property Investor · Houston, TX · Member since 2024 · 515 posts · 553 votes1y
Quote from @John Underwood:
That sounds interesting.Quote from @Garrett Brown:
I'm definitely not an app developer so no worries about me making one that can help. I think we have enough software in the STR world lolQuote from @John Underwood:
Nothing that paying for a 3rd party app to automate functions will fix.
If I had to pick something it would be getting higher occupancy rates.
Overall things are great.
What if we made a guide to increase occupancy rates that centers around marketing, guest experience, and ways to stand out in saturated markets that isn't simply "buy more amenities"?
Would this be something different from what you can Google and find other articles on?Absolutely, I am taking great pride this year in making content that is not microwaved from sourcing a few google articles that "gurus" just reguritate. I made some in depth STR marketing videos on youtube (I come from a hotel marketing background) before I joined BiggerPockets and people loved them. I am thinking of that being one of my next big projects if the community is wanting it.
Even simple things like making sure each photo on Airbnb has Alt text and that is fits into their SEO categories, I was surprised that more people weren't aware of it.
Did you know that you can go https://elevate.translated.com/categories-login and suggest what categories you want to be in? (This link has been down for about a week though, FYI. Airbnb tech team is working on it they said but this is how I added categories besides the ones Airbnb suggested for my listings) - Member since 2020 · 9 posts · 7 votes1y
With 20 years experience managing my sfr and as a property manager for a broker and a bank, this switch into ABNB has been a learning experience.
What i struggle with is pricing since i notice I'm usually one of the higher priced in my area.
Another struggle i have with STR is replacing small items continually which ties back to pricing. Things go missing and without having an inventory you may not notice missing items right away.
There is a fine line between offering a well rounded service and leaving too much in the home.
I love the business and glad to be a Superhost but this has been my experience.
- Beaverton, OR · Member since 2017 · 37 posts · 21 votes1y
Quote from @Garrett Brown:
What is your biggest pain point with STRs right now? We are working on more resources to help new and experienced hosts here at BiggerPockets. Real feedback of struggles or topics people want to dive in further helps us create the content that truly inspires and educates our community.
Mine is definitely finding the right deal that fits my buy box lately. It has been frustrating but it also is a positive as I now can quickly know what deals to not even waste time on analyzing.
What is your biggest struggle?You hit right on the nail. I spend so much time finding the 'right' properties across multiple markets on Zillow before I even evaluate in my buy box. I wish there were more 'filters' / Criteria that you can filter by in real estate website to find what you're looking for.
- MD/DC · Member since 2024 · 1k+ posts · 1k+ votes1y
Does anyone target retention? I'm in a drive to beach market so I'm on it but I would think college towns, mountains etc. might be similar. I was a guest at STRs for years, a quiet, early departing after tidying up guest and never got any sort of follow up after the check out thank you, no incentive to return.
- Bradenton, FL · Member since 2024 · 16 posts · 7 votes1y
I'd say one of the issues I'm having in the Sarasota/Bradenton region is the rapid changing regulations in regards to STR. It can be difficult to advise owners on what to do when each region has extremely different rules and regulations.
- Investor · Cincinnati/Fort Thomas, KY · Member since 2015 · 207 posts · 183 votes1y
@Jules Aton
We have started marketing to our guests as it is cheaper to keep a customer than to find a new one. What ideas do you have around retention?
- Investor · Cincinnati/Fort Thomas, KY · Member since 2015 · 207 posts · 183 votes1y
@Joy Daniels I have one of my STRs in that market on Anna Maria and each "city" on that 7 mile island has different STR rules. Plus the added requirements around getting drawings and general contractor for even adding a tiny closet. Something has to get better in that market as the regulations are too confining and essentially up to interpretation by the city explore you engage with.
- Member since 2022 · 527 posts · 413 votes1y
Quote from @Garrett Brown:
Quote from @John Underwood:
That sounds interesting.Quote from @Garrett Brown:
I'm definitely not an app developer so no worries about me making one that can help. I think we have enough software in the STR world lolQuote from @John Underwood:
Nothing that paying for a 3rd party app to automate functions will fix.
If I had to pick something it would be getting higher occupancy rates.
Overall things are great.
What if we made a guide to increase occupancy rates that centers around marketing, guest experience, and ways to stand out in saturated markets that isn't simply "buy more amenities"?
Would this be something different from what you can Google and find other articles on?Absolutely, I am taking great pride this year in making content that is not microwaved from sourcing a few google articles that "gurus" just reguritate. I made some in depth STR marketing videos on youtube (I come from a hotel marketing background) before I joined BiggerPockets and people loved them. I am thinking of that being one of my next big projects if the community is wanting it.
Even simple things like making sure each photo on Airbnb has Alt text and that is fits into their SEO categories, I was surprised that more people weren't aware of it.
Did you know that you can go https://elevate.translated.com/categories-login and suggest what categories you want to be in? (This link has been down for about a week though, FYI. Airbnb tech team is working on it they said but this is how I added categories besides the ones Airbnb suggested for my listings)Re: the airbnb category suggestion...it is a joke. I have tried several times to correct my categories using that very link Airbnb pointed me to (I have a few very wrong categories - like national park, and a few very correct ones - like beachfront) and they refuse to correct them. I have competitors that show up as beachfront that are on canals. They told me they only adjust every few months, it has been over 7 months since I made several requests.
- Member since 2022 · 527 posts · 413 votes1y
This likely fits in the market saturation bucket but proliferation of OTAs also. More and more are calling me to list with them (I'm in FL, so floridarentals.com, floridarentalsbyowners.com, etc.). The wars between Airbnb, VRBO, BDC are increasing. I find it continues to impact their algorithms as they continue to figure out how to attract hosts and guests and it further proliferates and already saturated market. I stick with the main OTAs and have added GVR since I believe that one could materialize but trying to get direct bookings is also difficult. In the end, this gets to @John Underwood's point of occupancy but also expense. I don't want to list everywhere and sacrifice both time and money.
- Member since 2022 · 527 posts · 413 votes1y
Quote from @Patricia Andriolo-Bull:
Quote from @Garrett Brown:
Quote from @John Underwood:
That sounds interesting.Quote from @Garrett Brown:
I'm definitely not an app developer so no worries about me making one that can help. I think we have enough software in the STR world lolQuote from @John Underwood:
Nothing that paying for a 3rd party app to automate functions will fix.
If I had to pick something it would be getting higher occupancy rates.
Overall things are great.
What if we made a guide to increase occupancy rates that centers around marketing, guest experience, and ways to stand out in saturated markets that isn't simply "buy more amenities"?
Would this be something different from what you can Google and find other articles on?Absolutely, I am taking great pride this year in making content that is not microwaved from sourcing a few google articles that "gurus" just reguritate. I made some in depth STR marketing videos on youtube (I come from a hotel marketing background) before I joined BiggerPockets and people loved them. I am thinking of that being one of my next big projects if the community is wanting it.
Even simple things like making sure each photo on Airbnb has Alt text and that is fits into their SEO categories, I was surprised that more people weren't aware of it.
Did you know that you can go https://elevate.translated.com/categories-login and suggest what categories you want to be in? (This link has been down for about a week though, FYI. Airbnb tech team is working on it they said but this is how I added categories besides the ones Airbnb suggested for my listings)Re: the airbnb category suggestion...it is a joke. I have tried several times to correct my categories using that very link Airbnb pointed me to (I have a few very wrong categories - like national park, and a few very correct ones - like beachfront) and they refuse to correct them. I have competitors that show up as beachfront that are on canals. They told me they only adjust every few months, it has been over 9 months since I made several requests.
Example...
- Real Estate Agent · Tampa Florida · Member since 2013 · 630 posts · 303 votes1y
I've been in the Tampa, Saint Pete, Clearwater area for about 5 years. STR is also saturated here. We have a lot of owners convert to Mid Term or Long Term rentals. Especially, after the storms and the loss of the projected income and they have no way to repair or replace everything that was lost. I also own a water restoration and general maintenance business in the area and the amount of STR owners that we have spoken with is insane. Indian Rocks beach which was a huge STR area was completely demolished. So, we hope that the area can soon recover but it looks like a lot of the owners will be converting.
- MD/DC · Member since 2024 · 1k+ posts · 1k+ votes1yAs soon as housekeeping gives the green light I reach out, thank them for being great guests and offer 15% off a future booking if they make it within 2 weeks. If for some reason I have a weekend open in season I will reach out to my handful of repeat guests and offer 10% discount. Any other ideas would be most welcome.
Quote from @Sandra Morrison:
@Jules Aton
We have started marketing to our guests as it is cheaper to keep a customer than to find a new one. What ideas do you have around retention?
- Investor · Ventnor City, NJ · Member since 2016 · 41 posts · 34 votes1yWhat apps do you use? I have tried a couple and didn't think they were very helpful.
Quote from @John Underwood:
Nothing that paying for a 3rd party app to automate functions will fix.
- 1yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Quote from @Pat Mulligan:
What apps do you use? I have tried a couple and didn't think they were very helpful.Quote from @John Underwood:
Nothing that paying for a 3rd party app to automate functions will fix.
None.
- 1yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Quote from @John Underwood:
Quote from @Pat Mulligan:
What apps do you use? I have tried a couple and didn't think they were very helpful.Quote from @John Underwood:
Nothing that paying for a 3rd party app to automate functions will fix.
None.
No paid apps anyway.
- Rental Property Investor · Houston, TX · Member since 2024 · 515 posts · 553 votes1y
Quote from @Staci Ware:
With 20 years experience managing my sfr and as a property manager for a broker and a bank, this switch into ABNB has been a learning experience.
What i struggle with is pricing since i notice I'm usually one of the higher priced in my area.
Another struggle i have with STR is replacing small items continually which ties back to pricing. Things go missing and without having an inventory you may not notice missing items right away.
There is a fine line between offering a well rounded service and leaving too much in the home.
I love the business and glad to be a Superhost but this has been my experience.
Both common issues for hosts! There isn't anything wrong with being the highet priced listing if it has the value to back it. Is your listing priced high but hav ethe best amenities, view, location, etc in the area? Are you using any dynamic pricing tools? Have you tried to bring it down some to see what kind of occupancy rates you hit? What are your current occupancy rates? 100% booked out isn't always good and probably means you are underpriced so that shouldn't be a goal in my opinion
What are some of the items that are going missing? Small items breaking are already set into my expenses and relfect in my pricing as it will happen consistently. I have done small things like switch from glass wine cups to acryliic ones that look like glass and take a damage deposit of $250 that helps mitigate small things breaking that are over $50. I don't charge for anything under though especially if the guest was easy overall. I would love to hear how others have dealt with this as well. - Rental Property Investor · Houston, TX · Member since 2024 · 515 posts · 553 votes1y
Quote from @Amit Shukla:
Quote from @Garrett Brown:
What is your biggest pain point with STRs right now? We are working on more resources to help new and experienced hosts here at BiggerPockets. Real feedback of struggles or topics people want to dive in further helps us create the content that truly inspires and educates our community.
Mine is definitely finding the right deal that fits my buy box lately. It has been frustrating but it also is a positive as I now can quickly know what deals to not even waste time on analyzing.
What is your biggest struggle?You hit right on the nail. I spend so much time finding the 'right' properties across multiple markets on Zillow before I even evaluate in my buy box. I wish there were more 'filters' / Criteria that you can filter by in real estate website to find what you're looking for.
I agree! I wish there was a system for searching for STR specific things but I have only found something like AirDNA to be the closest even though it's far from ideal for that. I am in the same struggle though and spend way too much time on Zillow searching through my buy box but I am finally becoming more efficient with my searches from just repetition mainly.
- Rental Property Investor · Houston, TX · Member since 2024 · 515 posts · 553 votes1y
Quote from @Jules Aton:
Does anyone target retention? I'm in a drive to beach market so I'm on it but I would think college towns, mountains etc. might be similar. I was a guest at STRs for years, a quiet, early departing after tidying up guest and never got any sort of follow up after the check out thank you, no incentive to return.
I absolutely target retention through many methods. Gathering emails through something like Stayfi, having them follow my social media pages with a QR code inside the unit, sending discount codes to book on our direct booking website whenever they want, etc. It's way cheaper to keep a good customer than get a new one. You can also have a direct booking website and use a Meta Pixel to retarget market to people interested.
- Rental Property Investor · Houston, TX · Member since 2024 · 515 posts · 553 votes1y
Quote from @Patricia Andriolo-Bull:
Quote from @Garrett Brown:
Quote from @John Underwood:
That sounds interesting.Quote from @Garrett Brown:
I'm definitely not an app developer so no worries about me making one that can help. I think we have enough software in the STR world lolQuote from @John Underwood:
Nothing that paying for a 3rd party app to automate functions will fix.
If I had to pick something it would be getting higher occupancy rates.
Overall things are great.
What if we made a guide to increase occupancy rates that centers around marketing, guest experience, and ways to stand out in saturated markets that isn't simply "buy more amenities"?
Would this be something different from what you can Google and find other articles on?Absolutely, I am taking great pride this year in making content that is not microwaved from sourcing a few google articles that "gurus" just reguritate. I made some in depth STR marketing videos on youtube (I come from a hotel marketing background) before I joined BiggerPockets and people loved them. I am thinking of that being one of my next big projects if the community is wanting it.
Even simple things like making sure each photo on Airbnb has Alt text and that is fits into their SEO categories, I was surprised that more people weren't aware of it.
Did you know that you can go https://elevate.translated.com/categories-login and suggest what categories you want to be in? (This link has been down for about a week though, FYI. Airbnb tech team is working on it they said but this is how I added categories besides the ones Airbnb suggested for my listings)Re: the airbnb category suggestion...it is a joke. I have tried several times to correct my categories using that very link Airbnb pointed me to (I have a few very wrong categories - like national park, and a few very correct ones - like beachfront) and they refuse to correct them. I have competitors that show up as beachfront that are on canals. They told me they only adjust every few months, it has been over 7 months since I made several requests.
Interesting, I did not have the issues on mine when I first used but it take a while to get them confirmed. They still have not confirmed one of the main ones I want (OMG category for my mirror house) but they said they are having tech issues. I do think they are trying to outsource so many things to AI that its gotten bogged down with some incorrect decisions. Did you try and escalate it at ABB at all?
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