Recap & Reactions from IMN Short-Term Rental Forum 2024
Today’s special episode comes to you live from the showroom floor of the 3rd Annual IMN Short-Term Rental Forum in Austin. We sit down with a few expert attendees; recap our findings from presenters, sessions, and roundtables; and start to apply new lessons to our own businesses.
Denise Poteet, from Safari for the Soul Glamping in Marble Falls, gives us some juicy tips for creating an audience-specific energy at their couples focused glamping property. Michael Chang, from Trustbnb and STR Like The Best, reveals his strategy for arbitrage and the one hot market he’s going all-in on. And Jun, from Ohana Stay, gets methodical on staffing and problem solving.
What’s the one piece of this industry that we all still struggle with?
Which tech strategy rises above the rest?
And what do other experts see in the near future of this market?
All this and more in this informative and inspiring episode on the road. Let us know what you think of the new format via email at hi@thanksforvisiting.com.
(00:01:26) #STRShareSunday: @theretreataustin
- Kudos to superhost, Bill!
- Great example of host hacking
- Check out the custom art and designer furnishings
(00:04:37) Live From the 3rd Annual IMN Short-Term Rental Forum
- Send feedback to hi@thanksforvisiting.com
- Shout out to Avery Carl
- Investment vs. non-investment grade
- How interest rates are affecting the industry
- Hidden benefits of regional regulation
- Understanding your community
- Quick update on arbitrage
(00:06:21) Romantic Hosting Tips from a Chief Glamping Officer
- Denise Poteet from Safari for the Soul Glamping in Marble Falls
- Why to prioritize your bed and bedding
- Tips for dazzling all the senses during a guest’s stay
- Denise shares pricing for glamping properties
(00:16:19) What’s the Deal with Vacation Rental Lease Arbitrage?
- Michael Chang from Trustbnb and STR Like The Best
- Timeline of profits and acquisitions
- Detailing his strategy in the Catskills
(00:25:04) Problem Solving Masterclass with a Co-Hosting Expert in Hawaii
- John An from TechTape in Honolulu
- Top principles for managing a successful hosting business
- Problem solving strategies
- Jun on the overwhelm of a tech stack
- Recommending Hospitable and Airtable
- Outlook for the end of the year and next
(00:32:17) Day One: Programming Takeaways & Education Recap
- Are people still acquiring properties?
- Fear, greed, and impatience crush any investor
- Why it’s important to keep your books in order
- Revisiting tech stack fatigue
- Check out HostWise
(00:41:29) Day Two: Programming Takeaways & Education Recap
- Standardizing STR operations roundtable
- One unifying shared pain point — cleaning!
- Incentivizing folks to do good work
- Experiential short-term rentals roundtable
- Check out Live Oak Lake and Stay Onera
- Landscaping appreciates as real estate depreciates
- Assessing the future of unique group travel
- Cross promotion with experiential
- Why you need to spend money on marketing
Download a transcript of this episode.
Resources:
- Event Summary: 3rd Annual IMN Short-Term Rental Forum
- Video: 5 Cheap ways to wow your guest that no other host is doing
- Airbnb Essentials Checklist: hostchecklist.com
#STRShareSunday
Retreat Austin is the brainchild of Airbnb host Bill, who has been hosting since 2012. He began with the carriage house above his garage and then ingeniously converted his main property into three separate rentals, each with its own entrance.
He even added an Airstream in his front driveway, complete with a fence, outdoor shower, and cedar wood barrel hot tub.
These days, Bill is transforming his garage into a Parisian pharmacy-inspired rental. Bill embodies the spirit of an independent host, always pushing creative boundaries to remain an integral part of Austin’s unique fabric.
We would love to feature YOU, so don’t forget to use #STRShareSunday to get your chance!
show comments
Hide comments