From 0 To 165 Units in Two Years

From 0 To 165 Units in Two Years

over 5 years agoChicago, ILScore: 75
Hosting Operations
Seasonal Pricing
Team Management
Multiple Properties
Market Research

Summary

This article discusses how a property management company, Hostly, navigated the COVID-19 pandemic. The CEO shares how they adapted by de-commissioning units, negotiating with landlords, and focusing on long-term relationships. Hosts can learn from their experiences with seasonality and cash flow management to prepare for market fluctuations.

Key Insights

  • •STR seasonality in Chicago shows a bell curve, with the peak season (when you make your money) from Summer to October.
  • •The company de-commissioned approximately 60 units during the pandemic.

Action Items

  • ✓
    Manage cash flow and reserves throughout the year to prepare for slower seasons.
    Effort: medium
    Impact: high
  • ✓
    Leverage success with one landlord to bring another on board.
    Effort: medium
    Impact: medium

Tools & Resources

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