STR Data Laba„¢ by AirDNA

In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, is joined by Justin Ford, Director of Short-Term Rental Safety and Certifications Program at Breezeway. Justin shares insights into his role and the importance of safety in short-term rentals. Breezeway, a property care and operations platform, supports professionalism and safety in the industry. Ford explains the primary goal of using Breezeway for safety inspections, elevating standards, fostering community awareness, and aiding government efforts in inspections. He emphasizes the significance of safety standards and offers practical tips for property owners to ensure guest safety, including slip and fall prevention, furniture tip-over protection, and poison control. Ford recounts his background in the Coast Guard and as a firefighter, which shaped his expertise in safety. He discusses the need for safety regulations and the potential for federal or state-level laws to enhance safety standards in short-term rentals.  Ford also addresses the misconception that insurance alone is sufficient, highlighting the importance of proactive safety measures to prevent negligence claims. He shares stories of hosts using safety as a marketing point to attract more cautious travelers. Overall, this episode underlines the necessity of prioritizing safety in short-term rentals for guest protection and long-term property investment. You don’t want to miss this episode! ~~~~ Signup for AirDNA for FREE👇 https://app.airdna.co/data  ~~~~ Connect with Jamie on LinkedIn and Twitter:  LinkedIn: https://www.linkedin.com/in/jamiehlane/  Twitter: https://twitter.com/Jamie_Lane  ~~~~ Connect with Scott on LinkedIn:  LinkedIn: https://www.linkedin.com/in/sagescott ~~~~ Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram: LinkedIn: https://www.linkedin.com/company/airdna/   Twitter: https://twitter.com/airdna  TikTok: https://www.tiktok.com/@airdna.co  Instagram: https://instagram.com/airdna.co  Episode 134

In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, speaks with Julie Marks, founder and executive director of the Vermont Short-Term Rental Alliance (VTSTRA). They delve into the significance of short-term rental regulations and advocacy. Julie shares her journey into short-term rental management and advocacy, which began when her local government considered shutting down vacation rentals. With no prior political experience, Julie realized she needed to get involved to protect her business and the industry. They discuss how regulations can impact short-term rental performance and investments, emphasizing the necessity for hosts to actively participate in shaping these regulations. Julie recounts her efforts in organizing the VTSTRA, starting with an opinion piece and building a website to rally support. They discuss the diverse community within the vacation rental industry, including professional managers, individual hosts, house cleaners, and other service providers. Julie highlights the importance of collaboration and breaking down competition to strengthen the industry. Julie's advocacy extends to national efforts, including her involvement with VRMA's Government Affairs Council and the Right to Rent Collaborative. She underscores the need for sustainable associations at local, state, and national levels to ensure the long-term success of the industry. Julie encourages others to get involved in advocacy, whether through financial contributions or active participation, to collectively make a significant impact. They conclude by discussing the balance between advocacy, personal life, and the importance of community support. Julie's contact information and resources for getting involved are also provided. You don’t want to miss this episode! ~~~~ https://vtstra.org/ ~~~~ Signup for AirDNA for FREE👇 https://app.airdna.co/data  ~~~~ Connect with Jamie on LinkedIn and Twitter:  LinkedIn: https://www.linkedin.com/in/jamiehlane/  Twitter: https://twitter.com/Jamie_Lane  ~~~~ Connect with Julie:  Email: director@vtstra.org Phone: 802-829-4024 Instagram: https://www.instagram.com/vtstra/ ~~~~ Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram: LinkedIn: https://www.linkedin.com/company/airdna/   Twitter: https://twitter.com/airdna  TikTok: https://www.tiktok.com/@airdna.co  Instagram: https://instagram.com/airdna.co  Episode 133

Join Jamie Lane, Chief Economist of AirDNA, and Ellie Mertz, CFO of Airbnb, as they discuss the latest announcements from the Airbnb 2025 Summer Release. This episode introduces new Airbnb services and experiences, a redesigned app, and future growth opportunities for hosts. Learn how Airbnb aims to increase travel wallet share and enhance user engagement through improved affordability, quality, and social connectivity features.

In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, is joined by Kerri Gibson, the CEO and co-founder of Chalets Hygge. Carrie shares the story behind the unique name of her company, which is inspired by the Danish concept of 'hygge,' emphasizing joy and contentment in life's simple moments.  Kerri discusses the accidental start of her short-term rental business in 2017 and how it quickly grew from one to six properties. She explains how her CPA background helped her in the analytical and creative aspects of property management. Kerri  also highlights the importance of location and operational efficiencies in scaling her business. The conversation transitions into her recent venture into running a 17-room motel, noting the operational differences and new challenges.  Kerri  touches on the importance of providing unique guest experiences and the decision to maintain an investor mindset while ensuring high operational standards. The discussion includes insights on managing teams, scaling thoughtfully, and leveraging technology and direct booking strategies. Kerri  concludes by sharing her long-term vision and the potential for future expansions, emphasizing the blend of investment and hospitality principles that drive her success. Those interested in following her journey can connect through her Instagram accounts and LinkedIn. You don’t want to miss this episode! ~~~~ https://www.linkedin.com/in/kerri-gibson-cpa/?originalSubdomain=ca ~~~~ Signup for AirDNA for FREE👇 https://app.airdna.co/data  ~~~~ Connect with Jamie on LinkedIn and Twitter:  LinkedIn: https://www.linkedin.com/in/jamiehlane/  Twitter: https://twitter.com/Jamie_Lane  ~~~~ Connect with Scott on LinkedIn:  LinkedIn: https://www.linkedin.com/in/sagescott ~~~~ Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram: LinkedIn: https://www.linkedin.com/company/airdna/   Twitter: https://twitter.com/airdna  TikTok: https://www.tiktok.com/@airdna.co  Instagram: https://instagram.com/airdna.co  Episode 132

In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, is joined by Rebecca Lombardo, a fractional CMO and marketing strategist. Jamie and Rebecca discuss the meaning of a fractional CMO and its role in the vacation rental industry. Rebecca shares her journey into the vacation rental space, starting as a CMO at True Place, a company specializing in photography and virtual tours for vacation rentals.  The conversation covers the difference between listing and marketing a property, including the importance of understanding your audience through market research. Rebecca explains how to generate demand by tailoring marketing efforts to resonate with guests and homeowners, rather than relying solely on platforms like Airbnb or VRBO. She emphasizes the value of data in determining where to focus marketing efforts, such as social media demographics and email engagement.  The episode also touches on measuring the success of marketing strategies through various funnel stages, from initial engagement to conversions. Rebecca advises hosts on the initial steps for developing a marketing strategy and highlights the significance of identifying and targeting a niche audience. The importance of building a brand that stands out in a crowded market is discussed, including the potential to attract both guests and homeowners. Jamie and Rebecca also explore strategies for owner acquisition, particularly within specific communities, and the advantages of organic growth through word-of-mouth. During times of economic uncertainty, Rebecca stresses the importance of maintaining marketing efforts to capitalize on future opportunities.  The discussion includes insights on organic and paid social marketing, as well as the benefits of investing in marketing during downturns. Finally, Rebecca provides her perspectives on engaging in effective marketing and adapting to changing market conditions. You don’t want to miss this episode! ~~~~ https://www.linkedin.com/in/rebeccabredholt/ ~~~~ Signup for AirDNA for FREE👇 https://app.airdna.co/data  ~~~~ Connect with Jamie on LinkedIn and Twitter:  LinkedIn: https://www.linkedin.com/in/jamiehlane/  Twitter: https://twitter.com/Jamie_Lane  ~~~~ Connect with Scott on LinkedIn:  LinkedIn: https://www.linkedin.com/in/sagescott ~~~~ Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram: LinkedIn: https://www.linkedin.com/company/airdna/   Twitter: https://twitter.com/airdna  TikTok: https://www.tiktok.com/@airdna.co  Instagram: https://instagram.com/airdna.co  Episode 131

In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, is joined by Bram Gallagher, Director of Forecasting at AirDNA. The duo discusses several pressing topics within the short-term rental industry and broader economic indicators. They begin by reviewing March performance and early April trends, noting a mixed story influenced heavily by recent tariff announcements. Despite a challenging 2023, 2024 saw positive momentum, particularly in mountain resorts benefiting from good snowfall. However, March presented a slight decline in demand growth and occupancy rates, partly due to a calendar shift with spring break and Easter moving to April.  Urban markets saw significant new listings, leading to a notable increase in supply, especially in cities like Jersey City and Newark, following New York's short-term rental regulations. Interest rates, inflation, and consumer confidence are discussed in depth. Bram notes a hesitant stance from the Fed to lower interest rates due to inflationary pressures. Employment remains strong, but consumer confidence and business sentiment have declined.  The discussion also touches on the impact of exchange rates on international travel, with Americans potentially favoring domestic destinations due to a weaker dollar against the Euro. Further, summer travel pacing shows positive trends in traditional vacation rental markets but sluggish demand in urban and suburban areas. Lastly, the episode delves into price evolution, with March showing smaller increases in average daily rates (ADRs) compared to January and February, highlighting affordability concerns amid economic uncertainties. Bram concludes with a look ahead, emphasizing the importance of monitoring layoffs and wage inflation as critical indicators for the economic outlook. You don’t want to miss this episode! ~~~~ Signup for AirDNA for FREE👇 https://app.airdna.co/data  ~~~~ Connect with Jamie on LinkedIn and Twitter:  LinkedIn: https://www.linkedin.com/in/jamiehlane/  Twitter: https://twitter.com/Jamie_Lane  ~~~~ Connect with Scott on LinkedIn:  LinkedIn: https://www.linkedin.com/in/sagescott ~~~~ Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram: LinkedIn: https://www.linkedin.com/company/airdna/   Twitter: https://twitter.com/airdna  TikTok: https://www.tiktok.com/@airdna.co  Instagram: https://instagram.com/airdna.co  Episode 130

In this episode of the STR Data Lab, Jamie Lane is joined by John An, founder of TechTape. The two share insights into navigating today’s volatile travel market. Jamie highlighted that 2024 is shaping up to be a more challenging year, with signs of softening demand in several U.S. markets. He pointed to Washington, D.C. as a key example, where government-related travel is slowing due to federal budget tightening. John emphasized that revenue management today is more about feel and adaptability than relying solely on hard data. He compared it to driving—requiring constant micro-adjustments rather than abrupt turns. Jamie supported this idea, adding that operators who watch their pacing, ADR, and occupancy weekly or even daily are the ones staying ahead. John mentioned that too many small operators still use a “set it and forget it” approach to pricing, which is risky in the current environment. He explained that intuition should be paired with data to make smart, timely decisions. Jamie echoed that sentiment, noting that even in tough markets, success is possible with active monitoring and responsiveness. John said the best operators act like football coaches—adjusting their strategy based on how the “game” (market) is playing out, not just on a pre-written playbook. Both speakers agreed that frequent check-ins—weekly or bi-weekly—on business performance are critical. John stressed that there’s no one-size-fits-all model, and pricing strategies need to be fluid. Jamie added that being proactive instead of reactive is a key differentiator right now. They concluded that the combination of consistent data review and strategic intuition is what separates good operators from great ones. Ultimately, staying close to the numbers while understanding the story behind them is the best path forward. You don’t want to miss this episode! ~~~~ www.https://www.gettechtape.com/ ~~~~ Signup for AirDNA for FREE👇 https://app.airdna.co/data  ~~~~ Connect with Jamie on LinkedIn and Twitter:  LinkedIn: https://www.linkedin.com/in/jamiehlane/  Twitter: https://twitter.com/Jamie_Lane  ~~~~ Connect with Scott on LinkedIn:  LinkedIn: https://www.linkedin.com/in/sagescott ~~~~ Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram: LinkedIn: https://www.linkedin.com/company/airdna/   Twitter: https://twitter.com/airdna  TikTok: https://www.tiktok.com/@airdna.co  Instagram: https://instagram.com/airdna.co  Episode 129

In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, chats with Bill Faeth, founder of Build Short-Term Rental Wealth and a 30-year real estate investor. Bill shares his journey into short-term rentals, which began in 2015 after a convincing conversation with an electrician friend. He describes transition from traditional real estate to short-term rentals by purchasing his first property in Gulf Shores, Alabama.  Bill provides insights into his investment strategy, influenced by the Pumpkin Plan book, and breaks down his unique approach to creating 'super properties.' He explains that successful investments rely on leveraging unique attributes like views, proximities, and amenities—elements that make properties stand out in specific markets. Bill emphasizes the importance of patience and the ability to hold out for ideal investments, rather than compromising on less optimal properties. The dialogue extends into financial advice, indicating that now, amidst market volatility, is a prime time for confident investors to make strategic buys, provided they understand both the cash flow potentials and potential depreciation of their purchases.  The conversation also delves into identifying markets that others may overlook, leveraging various data points to mitigate risks and maximize returns. Bill discusses the significance of outdoor enhancements and views, over just the property's internal features, to substantially boost earnings. He advises listeners on practical approaches like employing multiple data tools, grading properties strategically, and capitalizing on off-market opportunities to ensure investments align with long-term goals. The episode underscores the importance of thinking beyond conventional strategies by using comprehensive data and innovative planning for generating superior returns in short-term rental investments. You don’t want to miss this episode! ~~~~ https://go.buildstrwealth.com/superpropertygrader https://www.instagram.com/billfaeth73/ ~~~~ Signup for AirDNA for FREE👇 https://app.airdna.co/data  ~~~~ Connect with Jamie on LinkedIn and Twitter:  LinkedIn: https://www.linkedin.com/in/jamiehlane/  Twitter: https://twitter.com/Jamie_Lane  ~~~~ Connect with Scott on LinkedIn:  LinkedIn: https://www.linkedin.com/in/sagescott ~~~~ Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram: LinkedIn: https://www.linkedin.com/company/airdna/   Twitter: https://twitter.com/airdna  TikTok: https://www.tiktok.com/@airdna.co  Instagram: https://instagram.com/airdna.co  Episode 128

In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, is joined by Andrew Keller, a short-term rental photographer and founder of ISOneedphotos. Andrew shares the importance of professional photography for short-term rentals, emphasizing how it can significantly improve booking rates. He outlines his journey into photography, starting from a young age and transitioning into short-term rental photography around December 2020.  Andrew highlights the common mistakes property owners make by using amateur photographs, noting that lack of professional photos can cost potential bookings. He discusses the evolution of his own photographic style, emphasizing the importance of providing a variety of photos, including drone shots, twilight shots, and interior shots from multiple angles. Andrew mentions how his extensive experience, which includes photographing properties in 22 different states and Costa Rica, has honed his skills. He believes in dedicating a full day to a shoot to capture the best light at different times of the day. He also offers advice on staging for short-term rental photography, stressing the importance of details like setting the dining table, filling the hot tub, and ensuring sufficient matching plates and utensils. Jamie corroborates the importance of professional photography, sharing personal anecdotes about how professional photos helped answer guest questions and lowered guest dissatisfaction.  Andrew provides tips for those considering DIY photography, such as holding the camera at light switch height and managing lighting. He advises on how to find a good local photographer by checking their recent work on Airbnb listings and stresses thorough preparation of the property before the photographer's visit, ensuring it is guest-ready. Andrew shares his future goals of investing in his own short-term rental property and talks briefly about his co-hosting experiences. He also offers contact details for those interested in his services and emphasizes his commitment to helping clients increase bookings through top-tier photography. You don’t want to miss this episode! ~~~~ Andrew Keller Contact Info: https://isoneedphotos.com/ 423-316-1967 ~~~~ Signup for AirDNA for FREE👇 https://app.airdna.co/data  ~~~~ Connect with Jamie on LinkedIn and Twitter:  LinkedIn: https://www.linkedin.com/in/jamiehlane/  Twitter: https://twitter.com/Jamie_Lane  ~~~~ Connect with Scott on LinkedIn:  LinkedIn: https://www.linkedin.com/in/sagescott ~~~~ Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram: LinkedIn: https://www.linkedin.com/company/airdna/   Twitter: https://twitter.com/airdna  TikTok: https://www.tiktok.com/@airdna.co  Instagram: https://instagram.com/airdna.co  Episode 127

In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, is joined by Bram Gallagher, Director of Economic and Forecasting at AirDNA, to discuss current economic uncertainties and their potential impact on the lodging industry. They delve into the new presidential administration and recent fluctuations in the stock market, which have introduced significant uncertainty.  Despite strong fundamentals in unemployment rates and GDP growth, consumer sentiment and the economic policy uncertainty index show signs of concern, with the latter reaching its highest level since COVID-19. A notable topic is the influence of tariffs, including their imposition and the ensuing trade wars impacting international travel. Canadian travel to the U.S. has notably decreased, with several flight routes canceled, significantly affecting markets with high Canadian tourist reliance.  Additionally, stock market volatility influences consumer spending through the wealth effect, potentially curbing leisure travel plans. The discussion also covers sectors like business travel, where cuts and price sensitivity have emerged. The participants conclude that current data still supports strong economic performance, but the downside risks necessitate vigilance over future metrics and trends. Concerns such as tariff impacts, inflation, and travel behavior shifts underscore the importance for lodging operators to stay informed and adaptable in their strategies. You don’t want to miss this episode! ~~~~ Signup for AirDNA for FREE👇 https://app.airdna.co/data  ~~~~ Connect with Jamie on LinkedIn and Twitter:  LinkedIn: https://www.linkedin.com/in/jamiehlane/  Twitter: https://twitter.com/Jamie_Lane  ~~~~ Connect with Scott on LinkedIn:  LinkedIn: https://www.linkedin.com/in/sagescott ~~~~ Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram: LinkedIn: https://www.linkedin.com/company/airdna/   Twitter: https://twitter.com/airdna  TikTok: https://www.tiktok.com/@airdna.co  Instagram: https://instagram.com/airdna.co  Episode 126