All Forum Posts by: Andrew Steffens

I rarely recommend seeking a "co-host" but it does seem fitting for you.  Also many people recommending a PM which as a PM would be my main recommendation.  My company offers both limited service and full service options, a limited service agreement would fit you well, so maybe someone in your market has a similar offering.

I would recommend listing on Zillow, Furnished Finder, Airbnb, VRBO, and perhaps more.  There are more than just nurses who need furnished temporary accommodations.  Good luck!

Nice! How many STR's are you managing?

I have an "integrated" VRBO account through my PMS so its a passthrough where we collect taxes and payment ourselves but I imagine 95% of the VRBO accounts are not set up like this so they will collect and remit everything on your behalf. 

+1 for S/S and either bamboo or do the cheap ones and keep extras on hand and anticipate sap out every 1-2 months.

There are some obscure ones that get little to no traction but aside from the obvious Airbnb/VRBO; Booking.com, Google Vacation Rentals, Homes2Go, Marriott Homes & Villas Furnished Finder, as well as our on site bring in 35% or so of our bookings. 

I own a PM company with 60 +/- listings and also own several properties myself.  You?





 

I agree that for your first 3-5 you really do not need much above the tools offered by Airbnb and VRBO.  Once you have exceeded that you may see some real benefit from a PMS.  The one I use is designed for PM's with 50+ units.  I have not shopped for a PMS for several years so I cannot really recommend one but Guesty and Hostaway are popular choices.  If you search this forum you will see a lot of more in depth information.

Adding on what John said - adding additional platforms (we are on 15+) as well as a 2 part pricing strategy (dynamic software + live revenue manager).

My very inexperienced (in this segment of STR) 2 cents based on what others have said:

- If you are sort of in the middle of nowhere it will be hard to fill your calendar from the OTA's alone and on top of all of the other difficulties that would lie ahead make sure you have a clear marketing plan to ensure success.

Best of luck!