Specialist · Ann Arbor, MI · Member since 2016 · 355 posts · 191 votes
Has anyone been watching Stay Here on Netflix? It’s the typical house flipping show, only with short term rentals that people are starting up or having troubles with. Some pretty good ideas! I watched all the episodes and really enjoyed it.
Real Estate Agent · USA · Member since 2016 · 909 posts · 1k+ votes
7y
I checked out a few episodes. I like the idea but they make the STR idea more of a vanity project than about ROI...which actually just triggered my anxiety because I kept wanting to yell "IS THE INCREASE IN RENT PRICE GOING TO BE PROPORTIONAL TO THE COST OF THAT BATHROOM UPGRADE?! WHY ARE THEY NOT ASKING THESE QUESTIONS?!" Overall fairly entertaining though!
@Loni Anderson I am a 3D Artist on many of these kind of shows, and the show definitely does NOT have any money to pay for any renos. To even get casted, the owner has to have guaranteed funds and remodel costs within a certain budget designated by the show creators. The only thing that you could consider "donated" is the advice and time of the hosts. Or if the show specifically says they "donated 6 months of free marketing," that was given by the marketing company because they received exposure from the show. But time, advice, and design or contracting work is still a huge win for the owner. Like on Fixer Upper, They were receiving free design advice/design plans from Joanna. And the owners were getting either free or steeply discounted work from Chip and his crew. BUT, the kickback of that is then the budgets and end cost represented are not realistic in a real-world house-flip or remodel because in the real world we all pay for design, plans, contracting, demo, install...etc.
If this is true then the lady in Malibu is in big trouble.
I watched the first 2 episodes and found the show shallow and fake. ( I know I know, it's just a show). As many mentioned, remodeling costs and ROI analysis are missing.
90% of the show is about remodeling ideas (nothing specific to STR). Everyone has ideas, not everyone is able to execute.
I wouldn't spend a penny to remodel that kitchen in Malibu. De-cluttering absolutely yes, paint maybe, but remodeling no way. People by book on pictures, just take pictures from the right angles. That kitchen remodeling for $40k was awful advice. The street fence on the contrary, I would replace it instead of painting it. "curb appeal" is important. And is visible on the pics.
As for the marketing of that Malibu property ( I know the market) there is no way she can rent that property $1500 a night for 2 persons. It looks like she has now 3 listings, 2 priced more reasonably , each having a section of the house and then the $1500 listing which is not booked as John mentioned.
Need to be carful watching these types of shows. They usually become popular after the subject has peeked. A example of this is the Tiny Home series. Although the show somewhat drove up the market most of the tiny home builders have gone bankrupt. The tiny home idea was/is still only a fad.
Not saying STR is a fad. Like the tiny house fad the STR show is not going to concentrate on true life outcome only the process.
Specialist · Ann Arbor, MI · Member since 2016 · 355 posts · 191 votes
7y
Update: There is another new STR show on Netflix called "Instant Hotel" which is set up like a reality show in Australia. They have 5 couples who already successfully rent their homes do a tour all over Australia and rate each other's STR. Then the winner gets some prize. Plus they have a hotel expert weigh in. In this one, the group also goes out to try the local attractions that the host has recommended, so that is interesting. It's entertaining and obnoxious. The hilarious thing is that they all leave ridiculous welcome baskets that probably cost $100 each.
Architect · Wenatchee, WA · Member since 2018 · 843 posts · 907 votes
7y
I started watching that one. Couldn't get half way through the first episode. Way to reality TV for me. Even more so than most HGTV shows. It was painful for me.
Specialist · Ann Arbor, MI · Member since 2016 · 355 posts · 191 votes
7y
@Nik Moushon
Yes, it is a bit much. I think I watched two episodes and then fast forwarded through some of the others just to look at their places. It was pretty hilarious, however, when they got to the home of the young newlyweds, who work as a yoga instructor and a plumber, and live in what is clearly a million+ estate on the Pacific, and they were all whispering, “how in the heck can they afford to own this place?”
I thought it was interesting how people decorated their places so much to their own taste and then drew a clientele that also liked that style.
Real Estate Investor · Brooklyn, NY · Member since 2013 · 2 posts · 2 votes
7y
After scrolling through the episode descriptions I saw that one was on a property in Hudson NY, nearby to my upstate cabin that I occasionally host via Airbnb. I didn’t take away much from the show personally other than some of the local highlights and offerings of Hudson, which gave me a few ideas to incorporate into my listing description. It also spurred the idea of investing in a iPad (or similar device) for a digital guestbook.
Yeah, the Oz show is funny and very reality TV. I also fast forwarded to the homes. It illustrates how people are blinded by their own sense of style and taste. The expert reviews are the most valuable thing in the show. Also, those guest baskets, silly to invest that much when the ROI isn't there. For a guest staying a month, sure. A couple nights? No way. That's a sure way to bankruptcy. It's charity at that point. What would be interesting though is to see how auxiliary businesses could be tied in for rev gen. I wouldn't want to walk through a swamp to take a yoga class on the beach, however I might pay for a guided tour of sights. If 100% of guests visit the grand canyon while staying at a place near there, a tour could be another source of revenue. This is hit and miss in other places. I just wonder what else is possible with the value adds (fee and free).