STR Industry with Rent Responsibly (Episode 397)

Learn how you can shape the future of the short-term rental industry

We’re thrilled to welcome Alexa Nota and Dave Krauss, co-founders of Rent Responsibly. Rent Responsibly is a community building and education platform on a mission to support short-term rental operators. They bring people in the STR community together, promote fair and reasonable regulation, and give hosts the tools they need to advocate for themselves.  

One of those tools is the new State Of The STR Industry Report, a comprehensive look at the latest data and trends on STR hosts and managers, tech, regulations, and local policy. In today’s episode, we do a deep dive into the report and all the lessons you can take away from it. 

We talk about the report’s most surprising findings, common misconceptions about STRs, and how to get involved in your local government to make your voice heard on housing ordinances. Alexa and Dave shed light on the most common challenges STR hosts face — plus the biggest win-win opportunities. 

This enlightening conversation makes us even more excited about the future of the hosting industry.

(00:01:08) #STRShareSunday : @the.bungalow.butlers

(00:05:28) Introducing Rent Responsibly 

  • Their mission to support the short-term rental community 
  • How Dave and Alexa met and founded Rent Responsibly 
  • Why the short-term rental industry is not covered accurately in the media 

(00:09:05) The State Of The STR Industry 

(00:15:01) The Report’s Most Surprising Findings 

  • Government officials’ stance on short-term rentals 
  • How STRs have positive effects on communities and local economies 
  • What 93% of short-term rental owners have in common

(00:21:46) Why STRs Are About More Than Money 

  • The why behind owning and operating properties 
  • Common misconceptions about STRs
  • How to use this data as a tool to improve your management 

(00:31:56) How To Stay Updated On Your Local Ordinances 

  • Steps you can take to stay engaged with your local government
  • Finding resources to help you advocate for yourself 

(00:34:02) The Biggest Challenges STR Hosts Face

  • The top non-regulatory concerns that hosts share in the report 
  • What other hosts are trying to improve in their businesses
  • The areas of property management that are most challenging 

(00:38:00) What Hosts Can Do To Move The Mission Forward 

  • The power of coming together as a community 
  • The mindset shift of taking action 
  • The win-win opportunities hosts can take advantage of proactively 
  • Feedback from the survey 

(00:46:51) How To Create Your Own Marketing Buzz 

  • Tips to get the attention of local publications 
  • How to write your own story 
  • Local Alliance Support Center: rentresponsibly.org/alliances/
  • What do short-term rentals have in common with the auto industry? The surprising answer!

Download a transcript of this episode.

Resources:

#STRShareSunday

@the.bungalow.butlers

Today’s STR Share introduces us to The Parlour House in Urbana, a beautifully designed English-inspired home just a stone’s throw from the University of Illinois campus. This property stands out with its unique amenities, like an Illini Game Room hidden behind a secret bookshelf, and modern comforts such as a fully stocked kitchen and Nespresso Vertuo. The thoughtful details, like memory foam beds and a cozy outdoor space with a fire pit, make it an ideal retreat. The host has ensured every corner is designed for comfort and convenience, making your stay truly memorable!

We would love to feature YOU! Submit your property for our next #STRShareSunday at strshare.com!

Together, Annette & Sarah are the dynamic duo behind the wildly popular podcast Thanks For Visiting, co-creators of the Hosting Business Mastery Method, & seasoned short-term-rental hosts.

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