Where the Upside Really Comes From: Treat it like a business. Reap real returns.
Two Engines, One Asset, • Cash flow: nightly pricing • Appreciation: scarce, lifestyle locations.
ADR × Occupancy = RevPAR • Surge on peaks & events • Midweek tactics for fill • Rules > hunches
Upgrades That Move the Needle • Hot tub, fire pit, game room • Work-ready Wi-Fi + desk • Group-friendly layout
Pick Tailwinds, Not Hype • 3–5 hr drive from the city • Dual-season appeal • Limited new supply
Conservative Math Wins • Use achieved comps • Budget ~35% ops costs • Stress: −10% ADR & −10 pts occ
Reliability Prints Money • SOPs, backups, smart locks • Pro photos; fast responses • Multi-channel + direct bookings
Legal First, Then Leverage • Zoning & STR license • HOA bylaws, parking, quiet hours • Plan for rule changes
Is STR Right for You? • Want higher net yield? ✅ • OK with variable income? ✅ • Ops plan + 3–6 mo reserves? ✅
Launch With Confidence 1. Choose a Tailwind market 2. Engineer photos & pricing 3. Operate with SLAs