68 percent occupancy on my Dayton STR dropped to 41 percent in four months and I thought I had built something durable.
My buyer's agent flagged a competing STR two streets over that went online in October, pulled the Airbnb listing data herself, and handed me a side-by-side before I had even started blaming the platform algorithm. The new property had a hot tub, I did not, and it was priced $18 a night cheaper. That is the whole story. I spent six weeks convinced Dayton had softened as a market when really one listing opened and ate my weekends. I would have kept misreading it for another quarter if she had not pulled the comp without me asking. I ended up raising my weekend rate slightly, adding an outdoor fire pit setup for $800, and October came back at 59 percent, which is not 68 but it is not 41 either. The analysis she did took her maybe two hours and saved me from a decision I was moving toward, which was pulling the property from short term and converting it to a mid-term lease at a rate that would have cost me about $4,200 a year in lost revenue at current occupancy. Nobody talks about the version of buyer's agent value that happens after the close.