Learn How To Optimize Revenue With Mid-Term Rentals

We’re excited to welcome Jon Styer, a real estate broker and owner of Styer Real Estate Professionals and Styer Hospitality Co., a short- and mid-term rental management company in Columbus, OH. Led by Jon and his wife, Sara, Styer Hospitality has grown to more than 50 doors under management in just over a year. But Jon has been in the real estate space for years before that. 

In this episode, we talk about Jon’s journey from managing LTRs to STRs — and why he finally landed on mid-term rentals as his sweet spot. We discuss balancing STRs and MTRs, overcoming challenges as you grow your business, marketing strategies that pay off, and how to cultivate guest/host relationships. 

If you’re considering whether mid-term rentals are right for you — or you’ve simply been curious about them — you need to hear Jon’s mic drop advice.  

(00:01:08) #STRShareSunday: @VisitanaCollection

(00:04:57) How We Connected With Jon

• How we met Jon at a Central Ohio Investors Network event 
• The importance of attending local events 
• Sarah co-managing a building with Jon

(00:07:36) Jon’s Journey In Real Estate 

• How Jon got hooked on real estate investing 
• Why Jon transitioned from long-term rentals and sales to short-term rentals 
• His shift to mid-term rentals 

(00:12:50) His Mid-Term Rental “Aha Moment”

• Why Jon decided to ultimately focus on mid-term rentals 
• How his brokerage could make 2x market rent with a mid-term rental 
• Opening his mind to the demand for mid-term rentals 

(00:16:54) Balancing STRs and MTRs

• How Jon makes it work with 90% MTRs and 10% STRs
• Why mid-term and short-term play well together 
• Why he decided against doing long-term rentals 
• What his team looks like 

(00:22:15) Overcoming Challenges As You Grow 

• The game-changing shift in how he hires 
• The legal differences between a short-term and mid-term rental
• Maintaining an excellent level of service as you grow 

(00:25:58) The Pros Of Becoming A Licensed Property Manager 

• Why you shouldn’t be scared of becoming a property manager 
• You’re already a property manager 

(00:29:01) The Tech Solution He Can’t Live Without 

• The importance of their property management software, Hostaway
• Furnished Finder
• How they integrate marketing with their property management software 

(00:32:24) Tried And True Marketing Strategies That Work 

• Why word of mouth is key for Jon’s business 
• How 80% of their properties are booked before they go live
• Leveling up their websites — styerrep.com and styerhospitalityco.com

(00:37:03) His Approach To Furnishing 

• Furnishing for both STRs and MTRs 
• Standardizing their locks 
• Schlage Encode 
• The Styer starter pack for mid-term guests 

(00:41:17) The Guest/Host Relationship 

• LTR vs. MTR guest experience 
• Establishing a guest/host relationship instead of a tenant relationship 
• Recommendations for vetting guests 
• Setting boundaries in the service industry 

(00:48:07) How Many Properties Are Enough Properties? 

• Jon’s goal to get to 100 doors
• His growth mindset 
• Running the business with his wife 
• His parting piece of advice

Download a transcript of this episode.

Resources:

• styerrep.com
• styerhospitalityco.com
• Video: How To Market Your Airbnb Without Using Airbnb 
• Submit your property for our next #STRShareSunday at strshare.com
• Airbnb Essentials Checklist: hostchecklist.com

#STRShareSunday

@VisitanaCollection

This week’s #STRShareSunday takes us to Fallbrook, California, where we’re highlighting the amazing Ana Collection! They offer gorgeous, individual short-term rentals, but what really caught our eye is how they’re also marketing their spaces for events. It’s such a smart way to diversify their listings and make the most out of their properties. If you’ve been thinking about how to mix things up and get more out of your space, this is a great example to check out!

• Instagram: @VisitanaCollection

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