Do you have a client interested in purchasing a property to use as a Short Term Rental (STR)? Has a client approached you about the Short Term Rental market? Check out Red Team’s top items to remember when discussing Short Term Rentals.
Grow Wealth, but the Know Costs. Did you know, the average cost of furnishing a STR is about $7.5K – $10K per bedroom? Don’t forget the make ready costs to get the property up, running, and ready to rent.
Monthly Operating Expenses like utilities, lawn care, pest control, and Internet. You are running another household.
There are many reasons people choose an STR. North Texas is a GREAT MARKET for ALL RENTALS
Guest Experience can make or break your STR, especially in the first 90 days. The #1 priority is happy guests who leave 5 star reviews and ratings!
Does the HOA where your rental is located Allow or Forbid STRs? What about the City‘s rules? Does it matter?
Not all Insurance companies will insure your STR.
We suggest Housekeeping costs be passed through to the guest. Should you allow a Same Day Check-in and Check-out?
Pets are becoming extremely important traveling companions. People want to have their fur-kids with them.
Should I require a minimum number of night? What’s the Average Number of Nights? Two nights is the Starting Number
What is Full Occupancy? Is your STR averaging more than 60% – 70% occupancy? Your average price per night may be too low.