331. Use Data to Increase Profits in Your Short-Term Rental Business

Today’s expert guest is Kenny Bedwell, in a session recorded at TFVCON2023 in Columbus, Ohio. Kenny founded STR Insights in 2021 as a tool to help investors find the most advantageous STR markets for their unique circumstances using advanced data analytics.We pulled Kenny aside to have a side chat – between his immensely popular educational sessions at the conference – to dig in a little deeper on what he had been presententing to attendees: How to use data to inform good decision making. He shares the top mistakes people are making when researching and buying rental property and sheds some light on a few positive trends he’s seeing across the industry. We also touch on the idea of tagging along with the creation of new National Parks and share a few recommended analytics tools.It’s 2024, people! Data analytics is table stakes to running any optimized business, especially in a space like ours, where so much personalized information is collected on a daily basis.(00:01:27) #STRShareSunday: @eclipse_poconos(00:07:29) Most Common Mistakes Made in Real Estate Prospecting(00:12:28) Kenny Bedwell on the Future of the Short-Term Rental Industry(00:14:55) Sarah & Annette Comment on Kenny’s TipsResources:Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!Airbnb Essentials Checklist: hostchecklist.com#STRShareSunday: @eclipse_poconosSTR Insights: app.STRinsights.comVisit rentresponsibly.org for information on what’s going on in your marketRecommended STR analytics tools: PriceLabs, AirDNA, and KeyDataThanks for Visiting is produced by Crate Media.Mentioned in this episode:Booked & Profitable Boot Camp | Get on the waitlist now at thanksforvisiting.com/waitlistHostfully | Go to https://www.hostfully.com/tfv and use TFV100 to get $500 off your subscription.Relay | Go to https://relayfi.com/?referralcode=ThanksForVisiting for your FREE business banking account.Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.