All Forum Posts by: Jon Martin

3rd bedroom over game room. Depending on the market, a 2 bedroom may not even attract the guest avatar that would regularly use and appreciate the game room. The more rooms/heads, the more likely they are to want a game room because more people can enjoy it together. 

I would definitely convert the garage so long as you have ample parking outside. Garages go mostly unused by STR guests. a 2 car gives you a lot of space and options, because a pool table with clearance will take up that entire master. With the garage you have double the space, so you could do a pool table in one bay and still have the other side for arcades, shuffleboard etc

Thanks for the Clifs Notes! I think if you reach out to the host and give them a fair chance to address the issues, and in response they are complacent and making no effort, then leaving a negative review is absolutely fair. 

TLDR

Try to condense and get back to us

Santa Fe has similar revenue to Sedona but much lower entry price. Greenville and Savannah are still affordable as well and have very good occupancy year round. 

Can they be painted?

Been operating in Greenville SC for 2.5 years, slightly outside the city limits as mentioned above by @John Underwood

Have looked at a fair number of properties in #1, 3, 4, 13 & 15. Santa Fe has great numbers and I was close to putting in offers until I spoke with the city last fall. They were close to their STR permit limit at the time and were waiting until the spring to open up the application process, at which point they were likely to exhaust the remaining supply. Could still be a "outside the city limits" play.

Honolulu, NYC and Boston seem like a no go between regulations and entry prices. Nashville, Charleston and Austin seem tough as well. 

Agree with the above, although I would limit the number of dishes/utensils that you offer so your cleaner doesn't get stuck with a sink full of dishes. 

 You'd be surprised at the occupancy rates of some of these mid-sized cities. Could be #1 from a profitability standpoint

Yikes, sounds cringe. My guess was that it would’ve been less attended overall because of decreased interest in the space. In a sense I was somewhat right because it wasn’t well attended by those who were interested, more so out of desperation. 

All the coaching, design, tech stacks etc in the game won’t help you if the market fundamentals aren’t there. 

I have a property I am planning to sell but decided I would try Pricelabs first to see if I was leaving money on the table. When I download the recommended prices for the entire year, I get a total of $74K. If I multiply by 60% occupancy, I get $44K, which is closer to reality. Yet when I run their estimator, I get $25K. When I compared my July from this year to last, there was little change using their prices. 

Another strange item is that it is predicting ADRs that are $30-50 higher for weeknights in shoulder season months in 2026. Are they extrapolating based on market trends? 

Overall I think it's a good tool to be sure you are getting more on key dates for events you might not be aware of, but it seems like the numbers overall are a bit aspirational?

Curious to hear others experience here.