The Michigan Short Term Rental Association (MiSTRA) latest virtual meeting – held on February 5th, delivered both inspiration and practical tips for short-term rentalists just getting into the business – and even those managing large portfolios.
This session opened with an essential safety tip, emphasizing the importance of removing all real candles from properties to prevent potential fire hazards. Attendees were reminded of the critical need to train cleaning staff on this safety measure, reinforcing MiSTRA’s commitment to guest and property safety.
Following the safety briefing, Jess Wagner of WanderNorth Rentals delivered an inspiring presentation detailing lessons from her ascent from managing a single property to overseeing a portfolio of 14. Her insights set a motivational tone for the event, highlighting the possibilities within the short-term rental industry.
Participants then chose from several breakout rooms to facilitate information discussion, which were tailored to specific interests:
➡️ “Revenue Optimization” where attendees immediately jumped in leading the informal conversion to focus largely on pricing strategies and tools,
➡️The “Portfolio Growth” breakout, where attendees led the discussion into navigating regulatory challenges during expansion, and
➡️The “Management Business Growth” breakout catered to managers of large portfolios and newcomers interested in building a company, covering topics from owner relations to business development strategies.
As MiSTRA continues to champion educational and networking opportunities, stay tuned for our upcoming events designed to further enhance your expertise and connections within the industry. Join us next month as we continue to explore new topics and offer valuable networking opportunities to help you succeed in your short-term rental ventures.See our upcoming events, including a virtual training Getting Started in STR, an in-person meet up in Traverse City, and our members-only Advocacy and Legislative Affairs Forum.