Learning Lessons from 2020 for Short-Term Rental Hosts
Summary
This article discusses lessons learned by short-term rental hosts in 2020, specifically highlighting opportunities that arose during the COVID-19 pandemic. Hosts can learn from the experiences shared, including the importance of perseverance, building a strong team, and adapting to market changes. Consider building your team and refining your business model based on the insights from experienced hosts.
Key Insights
- •The shutdown in 2020 served to weed out pretenders in the STR market, leaving opportunities for hosts who persisted.
- •STRs rebounded much stronger than hotels during 2020.
Action Items
- ✓Be bold and take action to take advantage of the opportunities coming in 2021.Effort: lowImpact: medium
- ✓Consider never renting a spot with your own management team to avoid potential issues.Effort: mediumImpact: high
Tools & Resources
- →Live Let Thrive Podcast: Live Let Thrive Podcast
- →Argest Rentals: Argest Rentals
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