From Masterleasing to Managing Short-Term Rentals in Sarasota
Summary
This episode of "Get Paid for Your Pad" features an interview with Tia Castle, who transitioned from masterleasing to managing short-term rentals. She discusses her experience and provides insights into finding the right market, the changes in the Florida market, and the benefits of the STR Legends community, particularly during the pandemic.
Key Insights
- •Tia Castle now manages family-friendly homes in Florida, highlighting the growth in that market for STRs.
- •The episode discusses the shift from a masterlease model to a management model, which many hosts may encounter in their business journey.
Action Items
- ✓Hosts should consider delegating tasks and communicating clearly with owners as part of the transition to managing homes.Effort: mediumImpact: medium
Tools & Resources
- →STR Legends Mastermind: Tia mentions the STR Legends Mastermind as a network for support and opportunities.
- →Legends X STR Accelerator: The episode refers to Legends X STR Accelerator for additional help.
Related News
User Profile: Mountainside Treasures
This article shares the experiences of an STR host who has grown their business from a single condo to nearly 30 properties, highlighting the importance of guest service and the use of OwnerRez. The host emphasizes that delivering a good guest experience is a key factor for success, and struggles with the power of OTAs and challenging guests. Consider OwnerRez as a key tool for managing your properties.
Owner Statements 2.0: Faster, Clearer and Built for Growing Portfolios
Lodgify has released Owner Statements 2.0, promising faster and clearer reporting for property managers. This update aims to cut down manual work and improve the quality of reports shared with owners.
Financial firms face rising cyber risks, data challenges
This article discusses rising cyber risks and data challenges in the financial services industry, including fraud prevention using AI. While not directly about STRs, it highlights the importance of data quality, which directly impacts the effective use of AI for risk management and decision-making for STRs.
Booking.com Refunds Policy: Process and Ts & Cs Explained
This article from iGMS explains Booking.com's refund policies and cancellation options for hosts. It highlights the importance of choosing a cancellation policy that balances flexibility to attract bookings with financial considerations, and encourages hosts to experiment with different policies and rates to find the ideal balance.