All Forum Posts by: Ken Boone

@Collin Hays That is a great example and doesn't even include the appreciation that you should get after holding it for 15 years!

 Well I hit Cades Cove this morning at 7:30am to try and photograph some bears. Went around the loop twice and when I came out about 11:15am, the line getting in to the cove was backed up over a mile beyond the entrance.  I don't know where all these people are staying, but they are staying somewhere.  I don't know that I have seen the line that far out before, of course I always hit it early in the morning.

Guesty for Hosts $21/mo  - time saver, guest automation cross platform, direct booking

Ring Cameras $20 /mo  - indispensable

Price Labs $35/mo   just started this a few months ago, everyone is like A+++, jury is still out for me

Hostfully Guidebooks  $20/mo  improved guest experience and email collector

REIHub  $23/mo    just started this year, another time saver

Zapier  $20/mo     massive time saver as this automates RA and does record keeping

SignNow  $16/mo  Peace of mind and meeting insurance obligations

Total = $155/mo or $1860/yr

To me for what these services provides, the $155/mo is less than half of a an average 1 night booking.  I am actually glad I went through this as I was expecting the sum to be much more.  I can totally live with these numbers.

 Well not as awesome as that!  I did a quick glance before and ironically my non pool cabin has a 66% occupancy which was skewing my average.  Normally that cabin is much lower than the pool cabins.  The pool cabins are showing 20, 30 and 36% occupancy for May.  I still think I will hit the 50-55% mark for the pool cabins in May given the rate of last minute bookings we have been taking all year.  I still have a few weekends left on some of them so those are sure to book as well.

You can see the cabins at peacefulcabinrentals.com

Roughly 40%, I am expecting May to hit around 50-55% with last minute bookings and price changes coming in to May.  May has traditionally been a slow month prior to Covid.  

I did mine with canva.   Thinking about selling my template on Etsy.  Would be happy to share with you if you want to test it out for me.  Although it might be a few days before I get a chance to get it to you.  I have used it with 4 cabins. 

Chris, 

The problem is not just that the rates are higher.  Reality is that these rates we have had the last couple of years were historically low.  But again that is not the only issue.

There are many issues here. Too many people jumped in to the STR market when it was near its peak in 2021-2022 causing many places to be saturated. Then we had people with FOMO still buying at high interest rates at super high prices through 2023. Now with the increased supply of STRs, and less demand, everyone is dropping prices to compete. There is more competition and lower ADR. Lower ADR and lower occupancy combined with the higher interest rate is what is really making most STR deals not work out.

Having said that, it depends on what your goal is.  If it is to cash flow... uh think again for 95% of the deals out there.  If it is to have a vacation home that someone else helps pay for then maybe.  

This is the appeal, even with the small pool.  Nobody has a pool in their homes so #1 it is an anomaly 

#2 guests can enjoy the pool year round

#3 kids don't care how small it is

#4 there are adults who want to enjoy a heated pool, but feel self conscious in a bathing suit in front of others at a resort pool, now they have a private pool they can use with their family and not have that issue.  This is a huge.

#5 kids are not complaining that there is nothing to do on a rainy day.

I have three 2 bedroom pool cabins with small pools with either none to mediocre views and I have a 3 bedroom cabin on a ridge with one of the absolute best views in the area.  The pool cabins have always performed way better than the cabin with the amazing view. 

I'll take a pool cabin with no view over a non pool cabin with an outstanding view any day.