How to Run a Profitable Extended Stay Rental During the Shut Down - Webinar 20200723

Al Williamson - LeadingLandlordJul 24, 202059m 49s124 viewsScore 85
Growth & Marketing
intermediate
extended stay rentals
rental arbitrage
diversify income
target audiences
net income focus
M

Summary

AI-generated

This webinar teaches short-term rental hosts how to pivot to more profitable extended stay models, especially during downturns like the 2020 shutdown. Learn strategies to secure consistent bookings by targeting diverse traveler segments beyond typical vacationers, focusing on net income and marketing.

Key insights

  • The short-term rental market can be segmented into at least seven audiences beyond traditional tourists, including military, corporate housing, students, insurance housing, medical housing, temp housing, and international travelers.

Mistakes to avoid

  • Many short-term rental operators went out of business during the pandemic because they didn't adjust their rates downward to attract lower-paying guests, failing to adapt to the reduced demand for short stays.

Tools & resources

  • Airdna.coplatform

    Airdna.co provides data and trend analysis for the short-term rental market, including insights into mid-term stays.

Frequently Asked Questions

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial