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Where do I find an STR property There are three basic ways to find a decent STR property: regular listing services, online marketplaces specialized for STRs, and word of mouth. • Online marketplace Online markets, such as Roofstock's STR Marketplace, are great sites to look for STRs that already have guest lists and are completely equipped and prepared to go. Since many of these homes are already being utilized as STRs, previous performance may be accessible. Investors can tailor the expected returns for the future depending on factors like daily rent, occupancy days, and more. • Traditional listing services Another method of looking for property to buy is through real estates listing websites like Zillow, Realtor.com, and the local MLS with the help of a real estate agent. An investor can manually search for STRs for sale by utilizing search terms like "holiday rental" or "short-term rental." Finding a home by working with a local agency is another option, but buyers are encouraged to look for an agent who is "investor-friendly." • Words of mouth According to the adage, "real estate is based more on who you know than what you know," finding an STR for sale can be facilitated through networking and word-of-mouth. Investor groups and nearby STR-focused property management firms might be aware of a seller who will accept a reasonable offer. Property Management KPI – Metrics definition These are the most crucial KPIs for your Property Management KPI tracking and are widely used in real estate and other hospitality-related industries. • The average Daily Rate is a crucial indicator of your property's average cost. The formula is straightforward: divide the Revenue from all reservations by the total number of nights reserved for each property. This metric can be monitored for each year, quarter, or season. • Occupancy Rate – divide the number of nights reserved by the total number of nights that can be reserved to determine your occupancy (then multiply by 100). For instance, if 24 nights have been reserved for 30 days, your monthly occupancy rate is 0.80, or 80%. (24 divided by 30, then multiplied by 100). • RevPAR – In hotel management, Revenue per available room is frequently employed. One quick approach to figure it out is to multiply your average rate by your occupancy rate. For instance, your RevPAR for that month would be 80 euros per night if your average monthly rate was 100 euros and your occupancy was 0.8%. • Total Revenue – the total amount earned from all reservations made during a particular time frame. It lists every fee visitors pay (cleaning, taxes, etc.). • Average Length of Stay – the typical number of nights reserved during a specific time. • Cost per Listing Site – the fees for each reservation paid to the distribution websites. While some listing sites deduct their fee from your net rates, others add it to your nightly prices. • Net Operating Profit – the actual profit after deducting all necessary costs, including operating, cleaning, maintenance, and commissions from listing sites.