Quote from @Konstantin Ginzburg:
Quote from @Sarah Kensinger:
Quote from @Konstantin Ginzburg:
Quote from @Sarah Kensinger:
What does the STR look like, and are you marketing to a niche that you have chosen and "built" you STR for?
Here is the link to the STR:
https://www.airbnb.com/rooms/6...
The main niche that we are aiming for is for families who want to visit New Orleans but stay in a quieter/safer neighborhood instead of the French Quarter. We chose our location further uptown in the Uptown/Garden District area so our main draw is the local restaurants, historic buildings, easy access to public transportation, and very safe area. We are also near in ground zero of the Mardi Gras celebrations so were able to do incredibly well during Mardi Gras season but are hoping to increase our occupancy the rest of the year.
It's your design and photos. And to be honest maybe your view of STR's that you posted about earlier on
Thoughts on STR, Airbnb vs LTR.
I appreciate your input. The photos have been brought up several times. I'm still fairly new to the STR market to be honest so I hadn't realized the photos were that bad. I do appreciate that advice so will be looking into hiring a professional photographer shortly. As far as design: could you elaborate on that a bit more? What aspects of the design do you think need to be changed?
Also can you elaborate more which part of my views you are referring to from the previous post? If it's for seasonality, then I do agree with you. Late May and onwards is a slow season for New Orleans and that lasts until mid-October. We have already began advertising and taking applications for medium term rentals starting on July 1st. I'm not complaining of course, February was our peak season and we did amazing that month so taking the good with the bad.
Don't feel bad about anything, especially the photos! Most people have photos like yours, so it's a general look on airbnb/vrbo. Which is why a lot of people have less bookings and think the market is dropping and even totally going away.
Design of the house....You need to theme this place out big time! It only took me a minute to check airdna and there is close to 500 four-bedroom homes in your area. Most are right around you and up into the east side of mid-town. Your property has to absolutely stand out! You mentioned you have Mardi Gras items, maybe you should give it a total Mardi Gras theme (so long as there aren't too many other STR in the city with the same theme), or something culture related to the city. People should step inside your property and feel like they stepped into another world. Your area is too competitive not to make your STR that way. Use wallpaper, unique furniture, candy/cereal dispensers in the kitchen, bright colors, definitely add that game room, etc. You're not living here so have fun and make it eye catching!
Not enough seating in the living and dining room is a huge pet peeve of mine! Probably because I've stayed at one-to-many STR that didn't have enough and it's annoying! You have a unique space but from what I can see I would recommend switching the living and dining room areas. You could put the TV on a table against the small wall, and then a couch and chairs on the larger wall. And if you put wallpaper and a neon sign on that wall too, you'll have yourself an Instagram wall! If I counted your flooring tile right, you should have just enough room for a table where the living room space is now. Instead of a round table go long and skinny with benches on either side and chairs (something that would feel light and airy) on either end. Hopefully then you would have enough seating at a table for 6 people.
Usually, people only look at the first 5 photos before they decided to back out of the listing or keep going to another listing. So, make those first five count and try not to have any doubles. And if you want more marketing tips go give Bill Faeth a follow-on social media, he has LOTS of free content.
As for the post I mentioned earlier...You can't look at this as a passive, less steady income, and higher risk investment. Can it be all those things, for sure if you let that happen! Look at STR and particularly this market you're in as... "I'll learn this market inside and out; I'll be the absolute best and offer what my competitors can't. Yes, there are 477 four-bedroom homes all around my property, but I'll be the best in cleanliness, amenities, service, uniqueness, I'll offer what all the others don't."
It's all strategy and learning the playing field! Find what works best for you and puts your property ahead, believe in yourself and what your property can do! Before long you'll be in the 90% percentile in revenue of all properties that compare to yours!
