Increasing regulation, market saturation, and rising interest rates... Still think short term rentals make sense? You're not alone. Join industry experts Bill Faeth, successful STR host and investor, and Kenny Bedwell, founder of STR Insights and data junky, as they discuss how you can invest in this lucrative industry while still staying ahead of the curve, identifying trends before they happen - or blowing them outright with their own insights! The short term rental industry is booming and there are many benefits to investing in this type of property. Whether you’re a first-time investor or looking for your next investment, we have insights that will help guide the way forward!
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Increasing regulation, market saturation, and rising interest rates... Still think short term rentals make sense? You're not alone. Join industry experts Bill Faeth, successful STR host and investor, and Kenny Bedwell, founder of STR Insights and data junky, as they discuss how you can invest in this lucrative industry while still staying ahead of the curve, identifying trends before they happen - or blowing them outright with their own insights! The short term rental industry is booming and there are many benefits to investing in this type of property. Whether you’re a first-time investor or looking for your next investment, we have insights that will help guide the way forward!
Kenny shares his personal experience with regulatory changes in Buffalo, New York, which went from no regulation to a complete shutdown of non-owner-occupied short-term rentals. Bill and Kenny discuss the importance of having a seat at the table for advocacy prior to regulatory changes, drawing parallels to the rise of Uber. They emphasize the need for organized resistance early on to influence city council decisions. Regulation is identified as a major threat to the industry, impacting investment strategies. Bill shares his approach of investing in markets with established regulations or those where tourism is a significant income source. They caution against investing in politically volatile areas and stress researching political climates when choosing markets. The hosts also highlight the rise of tourism in tertiary communities around urban centers as an opportunity. They conclude by urging listeners to prepare for long-term changes in the industry and consider advocacy seriously.
https://www.marketmystr.com/
00:00 Introduction to STRonomics
00:28 Market My STR: The Ultimate Marketing Platform
01:26 The Reality of Short-Term Rental Regulations
02:08 Kenny's Buffalo Experience
03:37 The Importance of Advocacy
05:26 Lessons from Uber's Strategy
08:32 Investing Strategies Amidst Regulation
15:58 Final Thoughts and Farewell
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STRonomics
Increasing regulation, market saturation, and rising interest rates... Still think short term rentals make sense? You're not alone. Join industry experts Bill Faeth, successful STR host and investor, and Kenny Bedwell, founder of STR Insights and data junky, as they discuss how you can invest in this lucrative industry while still staying ahead of the curve, identifying trends before they happen - or blowing them outright with their own insights! The short term rental industry is booming and there are many benefits to investing in this type of property. Whether you’re a first-time investor or looking for your next investment, we have insights that will help guide the way forward!
