How Multi-Model Flexibility Can Help Property Managers Reduce the Impact of Regulations
Summary
This article discusses how property managers can adapt to strict short-term rental regulations by utilizing a multi-model approach, switching between short, mid, and long-term rental modes. It highlights the success of Your AirHost, a UK-based company that expanded geographically and offered flexible agreements. Hosts can learn from the strategies used to navigate regulations, including geographic expansion and owner-centric agreements to maintain and grow revenue.
Key Insights
- •Your AirHost offers monthly rolling agreements instead of multi-year lock-ins. This reduces friction for owners, allows a low barrier to entry for trying short-term rentals, and leads to better conversion rates.
- •Mid-term rentals (30-180 days) require a different operating reality, including less frequent bookings, more due diligence from guests, and different workflows.
- •The 90-day rule in London created friction, limiting client contract lifecycles. Geographic expansion into areas without such restrictions enabled year-round STR revenue and longer-lasting client relationships.
Action Items
- ✓Consider expanding into nearby markets where restrictions are less stringent and STR returns clearly beat long-lets.Effort: mediumImpact: high
- ✓Adapt your listing positioning to highlight amenities that appeal to corporate travelers or tradesmen, and create workflows to support these guest types.Effort: mediumImpact: medium
- ✓Evaluate your agreement structures to provide more flexibility and reduce commitment concerns, such as offering monthly rolling agreements.Effort: lowImpact: medium
Tools & Resources
- →Your AirHost: You can get in touch with Stefan at YourAirHost via [email protected] or visit the company website at https://www.yourairhost.co.uk/.(https://www.yourairhost.co.uk/)
Common Mistakes
- ⚠Failing to establish reliable cleaning, maintenance, and supply chains prior to expanding can hinder growth and damage quality.
More from Regulations & Compliance
Carson City, Nevada, is refining its short-term rental regulations. City supervisors are currently reviewing and modifying the local ordinance during a retreat. This review aims to address operational aspects, potentially impacting local hosts through new or revised rules, emphasizing compliance.
A 21-unit vacation rental in Dunedin, Florida, has been approved, signaling potential growth in the local short-term rental market. This approval could lead to increased accommodation options for tourists visiting the area. This news could also influence local regulations.
St. Louis aldermen have approved a short-term rental fee, though a legal battle over existing rules continues. This indicates a focus on regulating the STR market within the city. Hosts in St. Louis should be aware of these new fees, which may impact their profitability. Find out how this affects your STR business.
Curated by Learn STR by GoStudioM