All Forum Posts by: William Lokar

When I look at AirDNA data for both my areas 90+% of rentals are on AirBnB but only 40% on VRBO, whereas Pigeon Forge is 67% on AirBnB and 79% on VRBO.   To some extent I think how property managers list their properties in a particular area may be driving consumer behavior in those areas.  Make sure you are listed where your competition is!!

I have two STR's in very different markets (Tri-Cities, TN and Cottonwood, AZ). Amazingly my Airbnb/VRBO ratio is identical for both at 83/14 (with 3% other). I use the same description and photos. I have been curious about this for a long time why folks see such drastically different booking ratios.

The Tri-Cities don't have one draw. We get bookings for NASCAR, outdoors, sports tournaments, and a growing number of people traveling for work or renting mid term while trying to find a house. The diversification makes for a much less seasonal STR landscape...and the Smokies are an hour away.

I had a similar situation.  Contact your insurance agent.  I got insurance to cover floor replacement.  I also went in and took care of the work myself to cut the time frame and my tenant didn’t have to move out.  Hopefully your insurance policy covers loss of rents.  You might be able to get compensated for reimbursing a tenant for loss of use. 

This is not uncommon.  Digits can get transposed from parcel numbers or addresses that can create issues.  I would also consider checking a GIS map.

My experience on two STRs in very different markets (TN, AZ) are that I'm getting about 75% of the AirDNA estimate.   My units are only two years and 6 months old respectively, so I'm giving it time.   As a result I'm using 75% or the AirDNA estimate for revenue projections for future purchases.

Depending on your goals for your STR, there are great properties with limited seasonality in the Tri-Cities of TN. Johnson City and Bristol offer goo short term returns and good long term appreciation at much lower price points.

I prefer targeting the graduate student population.  They are a bit less transient year to year, are more mature, and generally take better care of your place.  As a former college administrator I can tell you that mid-size state universities will see a lot of growth moving forward as smaller colleges are squeezed out of the market my rising costs.  I'm looking to stay invested in these types of towns.  Johnson City, TN is one of the markets that I like for this growth as well as other demographic shifts.

 I have STRs in both Cottonwood and Tri-Cities (Kingsport, Bristol, Johnson City) and the cash on cash returns are much stronger in the Tri-Cities.  Don't get me wrong,I like Cottonwood but there is much more competition and higher entry points in Cottonwood/Sedona.  Plus the Tri-Cities are much less seasonal.    

The Tri-Cities of TN offers some good value for STRs.  The price points are low and there isn't much seasonality.