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Learning Lessons from 2020 for Short-Term Rental Hosts (Ep366)

2020 was a roller coaster ride for short-term rental hosts. Yes, the COVID crisis presented some very big challenges. But for those of us who stuck it out, the year presented some very big opportunities as well. So, what did STR hosts learn in 2020? And how can we apply those lessons to succeed in 2021?

Steven Che Suarez is the Cohost of Live Let Thrive, a podcast about Airbnb and the sharing economy, and the Cofounder and CEO of Argest Rentals, a full-service short-term rental management company. Steven and his partner, Federico, have 15 years of experience in the travel industry. They have flown a combined 1M miles, traveled to more than 60 countries and experienced a wide range of accommodations from youth hostels to high-end hotels. The Argest team knows what travelers expect, and they are dedicated to making the guest experience a unique and memorable one.

On this episode of Get Paid for Your Pad, Steven joins me to recap the STR landscape in 2020, explaining how the past year turned out to be a blessing for hosts who persisted through the initial COVID shutdown. We discuss how the Airbnb IPO may influence short-term rental advocacy moving forward, and Steven shares the most important lesson he learned in the last 12 months. Listen in for insight into Steven’s goals for Argest Rentals in the new year and learn how YOU can take advantage of the opportunities for STR hosts coming in 2021.

Click on the video below to watch and listen to this podcast episode:

Topics Covered

How Steven got started with short-term rentals

  • House hacking and doing long-term rentals
  • Myka on BiggerPockets suggested Airbnb

The blessings in disguise for STRs in 2020

  • Great deals on STRs for hosts who persisted
  • Shutdown served to weed out pretenders
  • STRs rebounded much stronger than hotels
  • ‘Smooth oceans don’t make great sailors’

How the Airbnb IPO might influence STR advocacy

  • Influx of cash gives Airbnb more clout
  • May help to fight bans in big cities

The #1 thing Steven learned in 2020

  • Never rent spot with own management team
  • Cannot fire when serious issues arise

Steven’s aspirations for Argest in 2021

  • Grow portfolio to 50 units
  • Build team of rockstars

Steven’s advice for aspiring STR operators

  • Be bold
  • Take action

Connect with Steven

Live Let Thrive Podcast

Email liveletthrive@gmail.com

Argest Rentals

Email argestrentals@gmail.com

Steven on Facebook

Steven on Instagram

Resources

Jasper on Live Let Thrive EP007

Jasper on Live Let Thrive EP118

BiggerPockets

STR Profit Academy

John An on GPFYP EP337

STR Legends

Jason Hartman

Theron Lewis on GPFYP EP362

David Krauss at Rent Responsibly

Sarah Doan Glidewell on Live Let Thrive EP125

Vistaprint

Email jasper@getpaidforyourpad.com

Hostfully

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