Finding and then starting a successful short-term rental (STR) in the Poconos involves careful planning and execution. Poconos is a nice vacation spot, conveniently located in a mountain market, three hours away from 47 million people. Poconos has year-round attractions, it a great last-minute option for those that want to get away for a weekend or longer. Our market has some unique features, like local...
STR income
Lately I've been hearing that the STR business in the Poconos is down and that the market is oversaturated. Some of my clients are doing quite well, some not as well as they hoped. It's a good time for a deeper discussion about the potential to operate a profitable STR in the Poconos. According to the Poconos Visitor Bureau, tourism continues to grow in the region with visits up (two percent by the...
There is both an art and a science to running a STR. The Art involves design of the property and the marketing that sets expectations. The Science looks at the data generated by the AirBnB, VRBO and other directory sites as well as what is reported by other analytics tools. I believe that half of a property's earnings comes from the property itself, and half comes from operations, so data can be skewed...
I am a realtor who specializes on helping people find vacation homes that they can use as a short-term rental. My clients range from young first-time real-estate buyers all the way to sophisticated investors who have large portfolios of income properties and support staff to guide their decisions. Often, I am asked to provide my opinions as to the state of the market and where I see things headed. With...
An Insider’s look at investing in vacation homes in the Lake Harmony Area The Lake Harmony area has long been a popular Pocono vacation spot and for those who rent their properties, business over the past few years has been very good. The Lake Harmony area benefits from two nice lakes, two ski resorts, two golf courses, some nice restaurants, and a beautiful setting year-round. The Lake Harmony area is...
It seems that a growing number of investors and companies that support them are feeling very positive about investing in vacation homes in the Poconos and the future of Short-term Rentals in the region. Popular YouTuber Edward Lui states the Poconos are the Best Airbnb Market in the Nation, Airbnb put the Poconos in their Top 10 most profitable markets in 2021 and Evolve, the popular Vacation home...
As a realtor who specializes in helping folks find vacation homes, I’ve gotten a lot of questions about the business of vacation home rentals. Here are some thoughts about the business of vacation home rentals. Are vacation home rentals in the Poconos a new thing? First, some history: much of what is referred to the as the Poconos was started in the 1960s and 70s when families started getting second...
It’s an age-old debate about investing, it is an art, or is it a science? When it comes to the science, good investors have data. One way to get data is to go to Airbnb, VRBO and others, search for properties, look for ones similar to what you are seeking and gather rate information firsthand. There you can read reviews and get some additional insight as to the property and its setting. With a strong...
I spend a lot of time with customers who have big visions of success in the short-term rental business and they often ask me questions about a property’s ability to generate profit. Many have use data tools like PriceLabs or AirDNA to help them understand the market and the opportunities that currently exist there. They tell me they’ve run the numbers and then ask me what I think. My...
Short-term Rental Properties are different from Long-Term Rental Properties and the smart investor will have a plan. As a realtor, I field a lot of calls and interest from people who are interested in investing in a Short Term Rental (STR) property in the popular vacation home area of the Poconos. Some of these inquires come from real estate investors who own residential apartments or homes for rent...