As gorgeous as our properties are, it’s important not to lose sight of the bigger picture. What matters most as a short-term rental investor is performance.
This week’s edition of “STR Advice,” is worth it’s weight in gold.
A lot of people ask us, “so, all you do is short-term rental design? That’s pretty niche, isn’t it?” The answer is that yes, it is. However, when it’s all that you do, you inevitably develop a formula that’s proven to be a surefire success.
If you’ve ever taken an inquiry call with Chroma Home, we introduce ourselves pretty early on to establish our credibility. Each member of our leadership team – Hannah, Reid, and Carleen – have owned and operated our own STR’s. This experience allows us to see the design for your property through a host and investor lens.
Every design decision that we make is with optimal revenue in mind for your property. Between the three of us, we’ve tackled over 250 design projects since 2018. Experience in this industry is priceless. Experience is the difference between your investment yielding a strong ROI, or design that doesn’t perform. Not understanding that difference can mean ending up buried in the mysterious algorithm of your given STR platform.
Our formula has proven to work, time and time again. As of the writing of this post, the properties that we’ve obtained performance data on have yielded impressive results. We’re outperforming AirDNA revenue projections by 49%, on average. Correct me if I’m wrong; Not Bitcoin, not the S&P500, not gold or silver, or any other investment that I can think of beats the market by 49%!
The reason that our design portfolio performs like it does is simple. Every property that we design we treat like a business. If the decision comes down to purely aesthetic vs. return on investment, our default design approach is to err on the side of ROI. We tell all of our clients that there are a lot of creative people with good taste who are capable of making a house look nice. There are very few that can design a beautiful property and tell you with confidence that it’s going to outperform other similar short-term rentals.
Many of our clients intend to use their properties on unbooked nights for themselves. We encourage that! That’s one benefit of owning an investment property, to be able to use it occasionally! That being said, we encourage all of our clients to put their own personal preferences aside. It’s critical to design for the vast majority of the year where the property is primarily utilized as an investment vehicle. Your entire investment – not just the design investment – can be at risk if you let your personal preferences take precedence over designing for performance.
In conclusion, just like it might be financially unwise to sell a high-performing stock investment just because you disagreed with something the Company’s CEO said – it would be unwise to put your personal aesthetic preferences over the design concept produced by a team of designers who eat, sleep, and breathe short-term rental design. When your short-term rental performs exceptionally, we all succeed! It is in both of our best interest for your property to perform ahead of comparable properties. In order to do that, we ask that you trust our tried and true process, and inevitably, the results will ultimately speak for themselves!
Don’t know where to start? Check out our Wayfair Professional Tastemakers Shop and see what we source for many of our properties.
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