Mom Mogul in the Making: My Short-Term Rental Hosting Journey

So, you’re thinking of dipping your toes into the world of real estate investing? Congratulations! It’s a rewarding path with a huge upside… if you can handle the challenges that come along with it. As a mom of two princesses who traded sleepless nights with babies for sleepless nights worrying about plumbing issues — kidding (mostly) — I’ve learned a thing or two about navigating the excitingly chaotic world of short-term rental (or “STR” for those in the know!) hosting, and I’m here to spill the tea.

The Down Payment Reality Check

Let’s be real, investing in real estate requires a significant upfront investment. While the allure of passive income is strong, remember that a typical down payment for an investment property hovers around 25%, versus 20% for a primary residence. This hefty sum can feel daunting, so think of it as a major investment in your future wealth.

Local vs. National Property Management: Choose Wisely

Micromanaging from afar is a recipe for disaster — trust me, I’ve tried it! Think showing up to 4’ tall weeds and a house that smells like smoke and hasn’t been cleaned because it “slipped through the cracks.” Hiring a property manager is essential but choose wisely. Local companies often have deeper roots in the community, understand local regulations, and can respond to issues more quickly. While national chains may offer slick marketing, they lack the personal touch and responsiveness that local gems provide.

The Importance of a Preventative Maintenance Plan

Think of it like a car — regular check-ups keep things running smoothly. A monthly maintenance program (think HVAC checks, plumbing inspections, and minor repairs) can prevent costly emergencies and keep your guests happy. Swallowing the pill of the monthly maintenance fee can feel tough, but in the long run, this proactive approach saves you time, money, and a whole lot of stress. #priceless

Prepare for the Unexpected

Let’s face it, things break. Things get lost. And sometimes, people steal your over-the-door towel racks and chop firewood on your concrete porch. From a missing remote to a broken window, be prepared for the unexpected. Keep in mind that no guest will treat your home with the same level of love and care that you do. A well-stocked emergency fund and a healthy dose of patience are your best friends.

The Waiting Game is Real

Don’t expect overnight success. It takes time for your property to get traction on platforms like Airbnb and Vrbo. Optimize your listing with enticing professional photos (put away those iPhones ladies!) and descriptions and build raving reviews. Be patient, be consistent, and stay positive. Bookings will start rolling in, I promise!

Is it Worth It? Absolutely!

Despite the challenges, owning a short-term rental has been a rewarding experience. The financial benefits are undeniable, but personal growth and accomplishing this goal have been even more valuable. I’ve learned about real estate, investing strategies, budgeting, problem-solving, and — my favorite — I’ve put my design degree to good use. In addition to all of that, connecting with travelers from all over the country has been so fun!

Tips for Success

• Create a welcoming space. Focus on creating a comfortable and stylish environment that guests will love.
• Provide excellent guest communication. Respond to inquiries promptly and address any concerns promptly.
• Go the extra mile. Leave thoughtful touches like local treats or a welcome basket to enhance the guest experience.
• Stay organized. Utilize property management software to streamline bookings, track expenses, and communicate with guests.
• Leverage your social media. Most of my bookings are direct (not through Airbnb or Vrbo) from my Instagram postings when I share the link. People love to follow the journey and respond well every time I post our trips to the cabin, so share away!

Owning a short-term rental is a journey, not a destination. It requires dedication, flexibility, and a willingness to learn. But with the right approach and a bit of perseverance, it can be a truly fulfilling and profitable venture.

I hope this gives you a good glimpse into the world of short-term rental hosting. For inspo, here’s a sneak peek at my North Georgia mountain short-term rental property, Ridgeview Retreat! Oh, and that reminds me, a catchy property name is clutch! If you have any questions about the STR journey, feel free to leave me a comment below. Happy hosting!