5 Reasons you Need to Stop Putting off your Vacations!
Guest Blog By: Ana C. Juarez When was the last time you took a vacation? Was it a month ago? A year ago? More than that? Vacations are often considered a luxury, or an extravagance not afforded by many. However, vacations are far from that, and are rather a necessity for your health and overall […]
What to Measure (Part 2)
In part 1 of our series, we talked about the financial metrics in managing real estate. In this part, we’ll talk about the core metrics that are more specific to the short-term rental market. There are two categories of core metrics that are very important in managing your rentals: Marketing and Revenue Management. You must […]
What to Measure (Part 1)
Whether you’re planning to contract with a Property Manager (PM) or manage the property yourself, knowing the financial and operational metrics of your business is critical. If you’re hiring a PM you should have metrics centered around Investment Cost, Revenue and Expenses. If you’re managing yourself you should also be prepared to measure Conversions, Bookings, […]
Why Real Estate Investing
I’ve had a passion for real estate my entire life. When I travel for business or vacation, I spend considerable time looking at real estate (private homes, apartments, and hotels), contemplating the value of purchasing a property and making it available for rent. Until I started investing I didn’t understand the implications of making such […]
Vacation Rentals Done Right: View from Owners and Guests
Are you intrigued by the Private Accommodations market (aka Vacation Rentals or Short-term Rentals) and just can’t get past the idea of staying in someone else’s house…or bed for that matter? Ever thought owning a vacation rental property sounded great and just weren’t sure if it would pay for itself, or where to start? If […]
Property Manager (PM) or Rent-By-Owner (RBO) – Part 2
In Part 1 we discussed how your objectives should align with your decision to RBO or contract with a PM. In Part 2 we’ll discuss some of the challenges with the industry and how taxes may have an influence on your decision. Are you prepared for unexpected? In life, things happen – and usually at […]
Property Manager (PM) or Rent-By-Owner (RBO) – Part 1
I’ve talked to a number of perspective vacation rental owners and many have immediately stated they either want to manage the property themselves (RBO) or hire a Property Management company (PM). Regardless of their decision I have to ask why they made that decision. Often times it’s based on a limited amount of information, often […]
Deciding on a short-term rental investment (Part 2)
Back to: Location, Location, Location Zig when they Zag – my suggestion on location: walk the area. Real Estate agents, even those that specialize and manage short-term rentals, aren’t good at recommending a location. I’ve bought/sold many properties and have talked to many more agents – each one recommended purchasing where all other investors have […]
Deciding on a short-term rental investment (Part 1)
Location, Location, Location You’ve heard this many times and it’s never been more true than with short-term rentals. Guests aren’t staying in your property very long and they’re willing to pay a little more to have a preferred location / view – especially in the offseason when rates and occupancy are more competitive. The […]
Short Term Rental Insurance: Understanding Your Coverage
There’s a lot of confusion in the marketplace about property insurance. I’m not talking about guest property damage protection or traveler insurance. I’m referring to insurance to actually cover the physical property and it’s belongings. Many homeowners are investing in short-term rentals (vacation rentals) and anticipate this investment to be a sizable portion of […]