The Art of Profitable Short-Term Rentals with Tyler Coon of Savvy Realty

In this episode of STR Data Lab, Jamie Lane, Chief Economist at AirDNA, sits down with Tyler Coon, CEO and founder of Savvy Realty, for a deep dive into the nuances of the short-term rental market. Tyler opens up about his transition from the broader real estate domain to carving a niche in STRs. He shares the strategic journey of identifying prime properties and the critical role of data tools like AirDNA.

In a market that's constantly shifting, Tyler emphasizes the importance of agility and innovation to outpace competition. He breaks down how supply growth, occupancy rates, and Average Daily Rates (ADR) as the pivotal metrics in steering property performance toward success. Highlighting a trend towards self-management, Tyler discusses leveraging customized services, notably in revenue management, to optimize property earnings.

Jamie and Taylor discuss specific market insights and strategies for investors, including the significance of amenities, property design, and revenue management in maximizing returns. Tyler shares success stories and emphasizes the value of expert guidance and local knowledge in navigating diverse markets. The discussion underscores the evolving nature of the STR industry and the opportunities it presents for informed investors willing to adapt and leverage emerging trends and technologies.

You don’t want to miss this episode!

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Signup for AirDNA for FREE👇

https://app.airdna.co/data

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Connect with Jamie on LinkedIn and Twitter:

LinkedIn: https://www.linkedin.com/in/jamiehlane/

Twitter: https://twitter.com/Jamie_Lane

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Connect with Tyler:

Linkedin: https://www.linkedin.com/in/tyler-coon-0003a3269/

https://www.savvy.realty/meet-the-team

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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:

LinkedIn: https://www.linkedin.com/company/airdna/

Twitter: https://twitter.com/airdna

TikTok: https://www.tiktok.com/@airdna.co

Instagram: https://instagram.com/airdna.co

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Find AirDNA at these upcoming events!

https://www.airdna.co/events-airdna

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Setting your STR Up for Success: Strategic Purchasing with Jeff Iloulian of HostGPO

In this episode of STR Data Lab, host Jamie Lane, Chief Economist at AirDNA, sits down with Jeff Iloulian, CEO and founder of HostGPO. HostGPO is a members-only platform for vacation rental operators, offering access to discounted rates on essentials such as furniture, linens, mattresses, and various amenities.

Jeff shares the inspiration behind HostGPO, spurred by his personal challenges in sourcing high-quality products for his vacation rental properties. The conversation explores HostGPO's target audience, encompassing both property management firms and individual homeowners and recognizes their distinct needs and aspirations.

Jeff provides insights into the initial setup of a vacation rental, emphasizing the importance of careful planning, understanding the target guest demographic, and efficient budget allocation. He recommends opting for durable furniture selections and warns against the expense of custom-made items. The conversation also covers logistical considerations, such as delivery schedules and installation services, to efficiently facilitate property setup.

Throughout the conversation, Jeff's expertise and passion for assisting vacation rental hosts shine through, providing actionable advice for those new to the industry. Lastly, Jeff encourages anyone interested in setting up vacation rentals to sign up for a free consultation with HostGPO to receive customized advice and leverage their strategic insights and partnerships.

You don’t want to miss this episode!

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Connect with Jeff:

https://www.linkedin.com/in/jeff-iloulian-bb0b6829/

https://hostgpo.com/

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Signup for AirDNA for FREE👇

https://app.airdna.co/data

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Connect with Jamie on LinkedIn and Twitter:

LinkedIn: https://www.linkedin.com/in/jamiehlane/

Twitter: https://twitter.com/Jamie_Lane