Category : Hosting Tips

Return on Rentals: A Virtual Event

Return on Rentals (ROR) is a virtual event with property managers speaking on technology and trends – putting you in the know and position you to win even in this uncertain time.

Meet property managers facing many of the same challenges you are and learn about products and systems they are using to keep their profits at their peak.

ROR is for you if…

You want to maximize your properties profits
You’re ready to be inspired
You miss connecting at conferences
You want to learn about new products, talk directly to the vendors, and hear the real story from PMs that have seen how they work

ROR is all about Return on Rentals.

The Return on Rentals event will showcase a variety of notable speakers covering a wide range of topics.

Visit the website here for more information.

Lubner and Landau – Podcast Series for Vacation Rental Host Advocacy

Dana Lubner and Matt Landau have been strong voices & leaders in the short-term rental industry. Both have been seeking more immediate ways to address current advocacy challenges in the space and drive forward some of the standards showcased in last year’s Good Neighbor Summit; a collaborative event that brought together Denver’s local vacation rental hosts and focused on ways to shape positive reform of unfair short-term rental regulation.

We’re extremely proud that our own Dana Lubner is joining forces with Matt Landau (VRMB) to “shift the narrative” and showcase the good side of the local hosting community. The new podcast will feature vocal participants: from public affairs and policy experts to leading vacation rental managers, as well as neighborhood advocates. The topics covered will be game-changing for the short-term rental industry!

For more information check out Short Term Rentalz post here.

The Future of Short-Term Rentals (in Question?)

Effortless Rental Group is Colorado’s most trusted hospitality provider, specializing in short-term rental and boutique hotel management.  Helping investors locate new real estate opportunities in short-term rental markets, using analytical data, and industry knowledge.

It’s no secret that short-term rentals have been a hot topic whether promoted, maligned, or somewhere in between.  This alternative style of accommodation has evolved into an industry disrupter and is fast becoming the preferred choice of travelers young and old.

Airbnb and Vrbo rentals across the United States have increased by 105% over the past three years propelled by a new wave of travelers looking for more unique and affordable hotel alternatives. Between July 2018 and May 2019, Airbnb added more than 1 million listings.  For comparison, Marriott added 46,101 new rooms between July 2018 and March 2019.  Seeing the outsized returns that short-term rentals generate, U.S. real estate investors both big and small have jumped into this new asset class purchasing 1.8 million properties with the intent to earn short-term rental revenue in 2018 alone.*(AirDNA)

On March 13th, the travel sector was gutted by the COVID-19 pandemic.  Effortless Rental Group saw 87% of reservations cancel in a matter of hours as travel came to a standstill. Shortly after this new reality set in, we noticed a change in booking behavior, with guests reaching out for longer than the average 3-day stays.  This may be due to the fact that short-term rentals are perceived, and proven, as safer than hotels during this pandemic.  A new breed of traveler has been born; one that includes frontline workers, those looking for cozy quarantine spots, and most importantly, travelers who want to avoid a crowded hotel lobby at all costs.

After stay-at-home orders were lifted and businesses began reopening, there was a big uptick in demand.  Weekend getaways are now turning into week-long getaways, guests are even deciding to book for a month or two, now that “work from home” opens the opportunity to work from anywhere.  Travelers are wanting to escape city life to visit a nearby drive-to destination. This type of travel is expected to continue through 2021.  

Since the pandemic began, the percentage of bookings on Airbnb within 200 miles has grown from a third in February to more than 50% in May. Travel in a post-COVID world is shifting “from airplane to car, big city to small location, hotel to home,” Chesky said in an article from the LA Times.  Airbnb’s newest marketing strategy is “Getaway, without going far.  A journey close to home is just the break you need”.  We’ve observed this within our own booking data as a majority of guests reside in state.

Traveler needs are changing and that is nothing new to the short-term rental industry.  Although COVID-19 has created extraordinary circumstances, we’ve always demonstrated our ability to adapt and meet guest expectations.  Proactive communication of cleaning procedures reassures guests and helps demonstrate the full value of the services provided to them. 

Shifting travel expectations and behaviors present an opportunity for investors.  When stacked up against hotels, professionally managed short-term rentals often win out in cost, size, amenities and quality.  These advantages are historically amplified during economic downturns, making short-term rentals the most attractive option over the next year and beyond.

Colorado Vacation Rentals Offer Free Lodging in Colorado

As the COVID-19 situation evolves, the hospitality & short-term rental industries are evolving with it.

Effortless Rental Group has partnered with Premier Vacation Rentals and a select network of property managers to offer lodging for people who have been adversely affected by the pandemic. Participants will qualify on a case-by-case basis and undergo a screening process including background checks. Read more about Premier Vacation Rental’s press release here.

Chris Bettin, founder and CEO of Premier Vacation Rentals said this in the Denver Post late last week…

“Though we operate as competitors in a normal business environment, this crisis presents a unique opportunity for us to unite around a common cause and support individuals in our communities who are in need of lodging during this crisis,” Bettin said. “It’s extremely rewarding to do this right now.”

All in all, the network of PM’s boasts approximately 500 properties across multiple markets. More property management companies are expected to join in on the program in the coming months.

Additionally, with travel activity declining in recent months, prices are being drastically reduced to guests that may not qualify. So now may actually be a great time to book & save money on a future trip.

Lastly, if you’re a guest that qualifies for the program, please inquire with Effortless Rental Group directly here.

Community Outreach – April 2020

Make Your Voice Heard:

3 Ways to Make Your Voice Heard and show how short-term rentals help support our families, jobs, local neighborhood businesses, and the City’s growth.

#1) Attend and speak at the next STRAC meeting:  

There are opportunities for public comment at these meetings and it is important for your voice to be heard.  We will be monitoring how STRAC will be accomodating public comment in the COVID environment and will share what we learn.

Upcoming STRAC (Short-Term Rental Advisory Committee) Meetings:

  • The April STRAC meeting has been canceled
  • Tuesday, June 9
  • Tuesday, August 11
  • Tuesday, October 13
  • Tuesday, December 8

#2) Speak at City Council Meetings:

Denver City Council meetings take place twice a month on the first and third Monday.  Each speaker gets three minutes to speak. All details can be found here.  If you are interested in learning more and getting involved please email milehighhosts@gmail.com. The Denver City Council is making decisions week by week during the COVID crises on whether to allow public comment, so please refer to their web page for that information.

#3) Schedule Coffee with your City Council Member:

Email milehighhosts@gmail.com and we will help you schedule a 1:1 appointment with your city council member.  They are happy to meet with you as this is part of their responsibility as representatives of us all. These meetings can be via phone or virtual meetings (e.g. Zoom, Facetime, etc).

Airbnb Listing Updates – Dos & Don’ts 2020

Airbnb posted an article titled, “It’s a good time to update your listing with these tips” about hosting local and extended stays and some warning about accuracy within the listing.  You can read the full article here.

Eric Moeller summarizes the guidelines below:

DO: Revise your listing title to mention that your space is great for a staycation, as a work-from-home alternative, or for families.

DON’T: Promote your space as “COVID-free” or “quarantine-friendly.” In fact, we’re requiring that hosts remove any mention of “COVID-19,” “the coronavirus,” or “quarantine” in their listing title.

DO: Highlight your enhanced cleaning routine in your listing description. While we won’t allow you to claim that your listing is coronavirus-free, you can share details about your cleaning methods. (Example: “Due to the coronavirus, we’re taking extra care to disinfect frequently touched surfaces between reservations.”)

DON’T: Use shortages of hand sanitizer, toilet paper, and other essentials as a way to entice guests. (Example: “Escape the coronavirus! Plenty of toilet paper here!”)

MHH: Best Practice Tips for Hosts – April 2020

How to make the most of the downtime…

It’s easy to want to wait for the dust to settle before doing anything, but who knows how long it will take for that to happen. Why not take advantage of this downtime and knock some things off that to-do list, such as:

  1. Deep cleaning
  2. Decor upgrades
  3. Maintenance projects and repairs
  4. Yard work and spring cleanings
  5. Safety inspections
  6. Give your listing(s) a refresh

What are you doing to keep busy?  Feel free to send us a message at milehighhosts@gmail.com

Mile High Hosts & COVID Resources

The Mile High Host community is made up of a wide variety of individuals, from a host renting a room in their house to Realtors wanting to keep up on the latest short-term rental regulations and property managers managing numerous properties throughout the city.  We want to provide resources to help you navigate these rapidly changing times.

Coronavirus Survival Kit for STR Hosts: 

Industry experts, Jasper Ribbers and Eric Moeller have put together a tool kit for individuals hosts.  They gathered tips, tricks, tools and resources to save you time and help your STR business survive.

The kit is designed to help you:

  • Survive and thrive through this crisis
  • Maintain occupancy
  • Stay in business
  • Prepare for the opportunities that will come

This kit is only $7 to download and jam-packed with helpful information and resources.

VRMA COVID-19 Resources:

While VRMA is an organization geared toward the professional short-term rental property manager, they have compiled helpful information and resources to navigate the uncertain time ahead.

Click here to view the massive list of resources they’ve compiled.

Support Local:

When all else fails and you need to blow off some steam, keep in mind that you can support your local restaurants and order cocktails to go.  Westword put together a piece highlighting which restaurants are serving craft cocktails to go. One trend that has emerged from this pandemic is the proliferation of virtual happy hours — we truly are a species that thrives off of human connection.  Cheers!

Here are a handful of additional articles and local resources:

New STR Ordinance Language Update

Before the COVID-19 consumed our thoughts and inboxes, our community had a mission to ensure the newly proposed short-term rental ordinance language did not negatively impact the hosting community.  Many of you wrote or had face-to-face meetings with your city councilmembers and some spoke publicly at the Biz Committee meeting on March 11th.  Many expressed their concerns with the new language, specifically about “fixed habitation” and the potential of license denial based on the number of days that the short-term rental has been, or will be, rented within the calendar year.

During the Biz meeting on the 11th, Excise and Licenses (EXL) presented the new language to a sub-committee of city councilmembers and fielded many questions.  What came as a pleasant surprise to many of us attending the meeting, was what EXL confirmed with members of city council. Ashley Kilroy, the Director of EXL, said that they would not be denying a license based on lifestyle or frequency of travel — this is something we have seen as the reason for license denial or investigation in the past.  While it looks likely that this ordinance language will pass, we are optimistic that our community has made its voice heard, bringing to the attention of the City Council and the Director that we are gravely concerned about how this language will potentially shut down good hosts.

Denver STRAC Meetings – Make Your Voice Heard!

Photo by Miguel Henriques on Unsplash

3 Ways to Make Your Voice Heard and show how short-term rentals help support our families, jobs, local neighborhood businesses, and the City’s growth.

#1) Attend and speak at the next STRAC meeting:  
There are opportunities for public comment at these meetings and it is important for your voice to be heard.

Upcoming STRAC (Short-Term Rental Advisory Committee) Meetings:

  • Tuesday, April 14
  • Tuesday, June 9
  • Tuesday, August 11
  • Tuesday, October 13
  • Tuesday, December 8

#2) Speak at City Council Meetings:
Denver City Council meetings take place twice a month on the first and third Monday.  Each speaker gets 3 minutes to speak.  All details can be found here.  If you are interested in learning more and getting involved please email milehighhosts@gmail.com.

#3) Schedule Coffee with your City Council Member:
Email milehighhosts@gmail.com and we will help you schedule a 1:1 appointment with your city council member.  They are happy to meet with you as this is part of their responsibility as representatives of us all.