What is the key to STR success and cabin investments?
I work with many investors in the area. Most of these investors are working in the Short Term Rental Cabin business as Airbnb owners or private owners, or those who invest in cabin communities and resorts. There are many things to know and consider before you develop the criteria you use to begin your search for the perfect STR cabin in the East Tennessee area. As a local real estate expert, a long time Prime Mountain Properties agent, I feel I can offer the right advice for you to make the right choice on your STR investment.
These are some of the considerations we will discuss as we develop your cabin criteria and a plan to seek the right cabin for you. We want to know the market conditions of the area. I can provide market reports on all areas of East Tennessee. When we look at the possible inventory, those with previous rental history, we will want to know the prior occupancy rate, average daily revenue and the general supply and demand of the area of the cabin. If the home does not have rental history we would look to develop this with like cabins, another market analysis to determine what we believe the investment can achieve with reasonable goals as you begin.
The location of the cabin and the seasonality of the home, road conditions, accessiblity and more can affect occupancy rates so we want to look closely at those considerations.
Knowing the local regulations is important and I can provide further information on the Sevier County regulations when you visit this article.
Choosing your management style is a very important consideration. You may be a private owner who rents out privately. You may list on VRBO or Airbnb or other national booking websites. You may choose to use one of the many fabulous rental companies in the area. We can help you with finding answers to these questions.
If you are considering investing in a cabin the Smoky Mountain area or East Tennessee, it would be my delight to work with you to help you find the exact right fit for your goals.