Newsletter March 10 2024

Legal Landscape – Local and State activities

Virginia Beach has moved forward with the STR Task Force, but they still have yet to appoint everyone needed for it to operate. There has not been anything else new that I have heard recently. But I am expecting that things will start coming up as more people get involved.

There is plans to organize in person meetings for Virginia Beach and we can focus on discussing everyone’s thoughts and needs. If you know a place that would be willing to host us, please let me know and I will reach out to them.

Owner Spotlight – This week, I am going to spotlight STRIVE Norfolk!

In just two months, the organization has not only legitimized its presence but has also taken proactive steps to address the challenges of over-regulation in the industry.

The meeting, held on Saturday, covered a broad range of topics crucial for STR owners. The discussion varied from navigating ordinances and regulations to exploring collaborative ways to support one another within the community. For those who couldn't attend in person, the event was streamed live, allowing remote participation through STRIVE's Facebook group. This accessibility ensures that every voice can be heard and that the information shared reaches as wide an audience as possible.

One of the key takeaways from the meeting is the importance of coming together. Such gatherings not only bolster confidence among STR owners but also pave the way for presenting a unified front. This unity is essential in advocating for reasonable regulations and practices that foster growth and sustainability in the short-term rental market.

As STRIVE Norfolk continues to build its foundation and advocate for the interests of STR owners, the organization emphasizes the value of community and collective action. By joining forces, sharing knowledge, and supporting each other, STR owners in Norfolk and beyond can navigate the complexities of the industry with greater confidence and success.

For more insights and to view the recorded meeting, members are encouraged to visit the STRIVE Norfolk Facebook group. Together, we can make a difference in shaping the future of short-term rentals in Norfolk and ensuring a thriving market for all.

STRIVE Norfolk: Facebook group

Political Pulse

We are currently still very early in the year, so I will continue to look for new candidates and update on any announcements.

Q&A Corner

Q: How can I make my short-term rental appeal to different types of guests?

A: Tailoring amenities to specific guest types can significantly enhance appeal. For digital nomads, provide plenty of plug outlets, stable internet, and a dedicated workspace. Romantic couples might appreciate luxurious bedding and a welcome bottle of bubbly, while families could benefit from extra beach towels and games. Highlighting these amenities in your listing can attract your ideal guests​​.

Q: How can social media help increase my short-term rental bookings?

A: Social media platforms like Instagram and TikTok are powerful marketing tools. Create engaging content, share stunning visuals of your property, and use relevant hashtags to reach a wider audience. Showcasing your property on these platforms can enhance visibility and attract potential guests​.

Q: How important is listing optimization for attracting bookings?

A: Optimizing your listing is crucial. Use compelling descriptions, high-quality photos, and detailed amenities to showcase your property's unique features. Highlight nearby attractions and emphasize what sets your rental apart from the competition. A well-optimized listing can catch a potential guest's eye and increase your bookings

Feel free to send in your questions to [email protected]. I’m here to help you navigate the complexities of the STR market and succeed in your ventures. Stay tuned for more insights and answers in our next issue!

Industry News

Aimed at addressing the affordable housing crisis by converting short-term rental properties into long-term residences, the law has instead led to frustration among small-scale hosts and an unintended tourism boost for neighboring New Jersey cities like Jersey City, Hoboken, and Weehawken, where short-term rental demand has surged.

The crackdown effectively wiped out thousands of listings overnight, with Airbnb's inventory in New York plummeting from 15,000 to fewer than 5,000. Despite these measures, the high rent issue persists, debunking the theory that eliminating short-term rentals would alleviate the city's housing woes. Meanwhile, small-time hosts find themselves in a bind, unable to generate supplemental income through short-term rentals, challenging the city's narrative that the law would unlock a plethora of housing opportunities.

Critics argue that the law has not only failed to meet its objectives but has also harmed those it intended to protect, pushing tourists and their spending across the river and benefiting New Jersey's economy in the process. With the city's enforcement efforts lagging and the shift of short-term rental listings to alternative platforms, the law's efficacy remains questionable.

Airbnb's CEO, Brian Chesky, has labeled New York's experience a "cautionary tale" for other cities considering similar regulations, highlighting the complex nature of the housing crisis and the need for more nuanced solutions. As debates continue, the true impact of New York's short-term rental ban on its housing market and community remains to be seen, serving as a critical case study for urban housing policies worldwide.

Read the full article here.

Tips and Advice

In the ever-evolving world of short-term rentals (STRs), automation stands out as a key strategy for enhancing efficiency, improving guest experiences, and increasing profitability. Here are a couple of tips around automation and its benefits for your STR business:

• Automated Communication with Guests: Utilize automated messaging systems for consistent and timely communication with your guests. From booking confirmations and check-in instructions to local tips and check-out reminders, automated messages ensure that guests receive all the information they need, exactly when they need it. This not only enhances the guest experience by providing clear and helpful communication but also saves you a significant amount of time that can be spent on other aspects of managing your property.

• Dynamic Pricing Tools: Implementing dynamic pricing software can significantly increase your revenue. These tools adjust your nightly rates in real-time based on market demand, seasonality, local events, and competition. This means you can maximize your earnings during peak times and maintain competitive rates during slower periods without constantly monitoring the market yourself.

Benefits of Automation in STR Management:

• Efficiency and Time Savings: Automation significantly reduces the time spent on repetitive tasks, such as guest communication and price adjustments. This frees up time for property owners and managers to focus on other critical aspects of their business, such as guest experience and marketing.

• Enhanced Guest Satisfaction: Automated systems provide guests with instant responses and essential information, contributing to a smooth and enjoyable stay. This level of professionalism and convenience can lead to better reviews and repeat bookings.

• Increased Revenue: By leveraging dynamic pricing tools, you can ensure your property is always priced optimally based on current market conditions, helping to boost your overall income.

• Reduced Human Error: Automation minimizes the risk of mistakes in bookings, pricing, and guest communication, leading to a more reliable and consistent service.

Implementing automation in your STR business can lead to significant benefits, including better time management, improved guest experiences, and increased profitability. As the STR market continues to grow and evolve, staying ahead with these technological advancements will be key to maintaining a competitive edge.

Embracing automation in your short-term rental business can unlock new levels of efficiency, enhance guest satisfaction, and significantly boost your revenue. However, implementing these technologies might seem daunting without the right expertise. That's where our specialized services come into play. Cutulus excels in Process Automation, offering tailor-made solutions that streamline your operations, making your business more efficient and responsive. Skyrun leverages automation to enhance every aspect of your rental business, from guest communications to dynamic pricing strategies.

If you're ready to transform your STR business or streamline your operations with cutting-edge automation solutions, don't hesitate to reach out. Let me help you navigate the complexities of automation, ensuring your business not only keeps up with the times but sets new standards in efficiency and guest satisfaction.

Upcoming Events

• Speak up at the Planning Commission

  • VB – Mar 13^th

  • Norfolk – Mar 14^th Mar 28^th

    • Meeting 1 PM

    • Public Hearing 2:30 PM

• Concerts

  • Chartway Arena

    • Alabama Apr 25th

    • Sum 41 May 19th

  • Norva

    • Owl City Mar 23rd

    • Blue October Mar 27th

• Highlighted

  • Bulls and Barrels Beach Rodeo Apr 13-14

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Contact Me: [email protected]

This newsletter was paid for by SkyRun Virginia Beach.