Mark Simpson discusses whether short-term rental hosting is right for you. The key question: can you treat a property as a business asset, not a personal possession? Many successful hosts hire managers to handle operations so they can focus on strategy.
What tips would you share for those people around? How do they really start with the design or with understanding who their target guest is?
Because I think the very first thing that you have to understand one as a host and as an investor before you even get into this model is whether or not this is for you. Because for some hosts this is not the way in the comfort level. Some hosts are to controlling of their their properties because they view it as a personal property. And if that's going to be you, you are not fit for this model. There's a reason why a lot of owners hire managers for their business, because that's an in between person that allows them to remove themselves and think bigger picture numbers. But the manager runs the day to day.
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