Rental Property Investor · Warwick, RI · Member since 2020 · 10 posts · 8 votes
Closing on a property soon that we plan to set up for seasonal short term rental. Given that it is off peak renting season we will try to get a 6 month lease ( Dec-May) while also opening up dates on Airbnb for the months following. Does this seem like a reasonable timeline to get bookings? Any advice would be great as this will be our first STR!
Real Estate Agent · Portland, OR · Member since 2016 · 1k+ posts · 605 votes
5y
Hey @Lindsay Mills-Pimental, I've done a short term rental through Airbnb in Portland before. I think we started it in August so we missed the high season. One thing to think about is that it takes a few months to get traction. You will need a few reviews and it helps a lot if you become a super-host. Also, think about the time you will need to furnish it, take photos and post them. It might be smarter to start earlier so you have some reviews when people start booking in May.
Rental Property Investor · Warwick, RI · Member since 2020 · 10 posts · 8 votes
5y
@Brad Hammond
Great thoughts Brad - thank you! We actually have all the furniture “ready to go” so once we close we will get in there and set it up. The 6 month lease term will be a furnished rental, but given what you said maybe we should be looking for someone to do a shorter term around 3 months. Is the best way to get bookings having a competitive price? Or maybe I can convince some friends to stay for reviews? I’m trying to keep an open mind :)
Real Estate Agent · Portland, OR · Member since 2016 · 1k+ posts · 605 votes
5y
Good questions. We had a couple of friends virtually stay there and we gave them their money back. There are a few ways you can play with pricing. We had a higher nightly rate but didn't have a cleaning cost. I think that's why we had more 2 night stays instead of longer stays. But play with it and see what makes sense for you. Also, check out AirDnA (or something like that). I've never used it but I've heard it gives great analytical info if you put in the address.