Success with Rental arbitrage
Josh P. has leased a home to rent out as a Short-Term Rental, and Checkmate rentals has helped to make it profitable.
Background
Josh had an agreement in place to lease a home that he would rent out as a Short-Term Rental, also known as rental arbitrage. The goal of this relationship is to earn enough from the Short-Term Rental reservations to cover the monthly rent and expenses, with money left over for the renter as profit. We connected with Josh in January 2024 and he was concerned about profitability, fearing he would have to cancel his lease.
How We Helped
Using our suite of estimation tools and dynamic pricing strategies, we were able to ease some of Josh’s concern and bring back hope that his property could be profitable, even though his monthly overhead was high. We launched Josh’s listing on one of our own Superhost accounts to make sure the new listing ranked well and had first page visibility to prospective guests. Along with our efforts in Search Engine Optimization, we adopted an aggressive dynamic pricing approach with an emphasis on competitive far out prices in efforts to maintain an occupancy level above the market average.
Results
With roughly $10,000 in overhead per month it was a tall order to make Josh’s property profitable. From the first booking we’d managed in February of 2024 to the end of June 2024, Josh’s property has averaged nearly $13,000 in monthly rental revenue with a high of over $27,000 in rental revenue for June.
Chad & Checkmate Rentals literally saved my rental arbitrage property. I was in a really bad spot with another co-host who was unresponsive and taking all of my profit. I got a great feeling the first time I talked to Chad and his team and they have turned my rental arbitrage property around completely.
I needed to make at least $10,000 per month to break even and Checkmate has made this a reality for me and more. I was about to throw in the towel, but now I'm looking to grow my arbitrage portfolio thanks to Chad and his awesome team!
See Other Case Studies
Winning against big property managers
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Turning around a struggling property
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Outperforming the Market
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