How to Choose the Right Account Setup for STR Operators
Summary
This article, from 2020, discusses the increasing trend of professionalism in short-term rentals, encouraging hosts to treat their properties as real businesses. It emphasizes the importance of defining values, optimizing listings, and understanding profitability. Hosts should consider adopting a business mindset, focusing on their unique selling proposition, and learning from the sharing culture within the STR Legends community.
Key Insights
- •Larger companies are buying out midsize operators, emphasizing the importance of understanding profitability to thrive.
- •The article highlights a shift towards professionalism in the STR industry, regardless of the number of units managed.
Action Items
- ✓Define your business values and align messaging accordingly to attract your ideal client.Effort: lowImpact: medium
- ✓Determine your Unique Selling Proposition (USP) to stand out from growing competition (e.g., standards, theme, etc.).Effort: mediumImpact: medium
Tools & Resources
- →STR Legends: STR Legends Cartagena is mentioned as a community.
- →Traction: Get a Grip on Your Business: The article mentions a book, *Traction: Get a Grip on Your Business* by Gino Wickman.
- →Cohost Mastery: Eric Moeller's Cohost Mastery and STR Legends Live are mentioned.
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Curated by Learn STR by GoStudioM