Jonathan sits down with Mark Lumpkin, Sales Director at STR Cribs, on this episode of Zen and the Art of Real Estate Investing to discuss how thoughtful design and strategic renovations can transform short-term rentals into high-performing assets. With a deep understanding of what makes a STR successful, Mark and his team help property owners optimize their spaces to attract the right guests and maximize profitability. His expertise in renovation and design has made STR Cribs a go-to resource for investors looking to stay competitive in the short-term rental market.
Jonathan and Mark start their conversation by sharing how investors can optimize their properties for maximum guest appeal and profitability. Mark explains the importance of preventative maintenance, listening to guest feedback, and incorporating both universal and market-specific amenities. Mark also highlights the value of using data to choose the right property and why secondary STR markets shouldn’t be overlooked. Drawing from his experience as an investor, he offers practical advice on designing a space that attracts guests and is enjoyable for owners to use.
Jonathan and Mark cover the following points more in-depth:
- Mark says the best short-term rentals are unique properties like cabins, treehouses, or rooftop condos.
- Some of the best ROI-boosting amenities include maximizing the number of beds/occupancy, investing in high-quality design and furnishings, and adding amenities that appeal to your guest avatar.
- Staying in the STR yourself or having friends and family test it out allows you to experience it from the guest’s perspective.
Creating a memorable short-term rental property will ultimately create the most success, but you have to know your guest avatar. Mark Lumpkin shares some secrets to creating an experience that will leave your guests wanting more.
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