“Short-term rentals, vacation rentals, that industry, has grown tremendously.”
Frank Valencia is the Sr. Managing Partner at Bongo Property Management; a fast-growing AirBnB property management which helps your short-term rental business becomes a success. They are currently operating in the United States, Latin America, and Europe – and are planning to expand to new cities later on.
During the episode, Frank explains the services they provide at Bongo PM. As an expert in the business industry, he describes the benefits of having their company manage your properties for short-term rentals. Listen in and learn a lot about the short-term rental market, including size demands, occupancy rates, investment returns, and the ideal countries to own properties.
Listen to ILAB 89 on iTunes here or subscribe on your favorite podcast app.
ILAB 89 Show Notes
Where we are:
Sam – Denver Colorado
Johnny – Nepal
Fundrise – start with only $1,000 into their REIT funds (non-accredited investors OK)
PeerStreet – get a 1% yield bump on your first loan
ArtofFX – start with just a $10,000 account (reduced from $25,000)
Wealthfront – get your first $15,000 managed free
RealtyShares – try it free
09:07 – Who is Frank?
10:06 – The growth of Bongo PM
10:27 – AirBnB
12:39 – Return on investment
15:12 – Bongo PM analytic service
16:44 – Expanding to new cities
17:42 – Impact of reviews
19:23 – Property types and its demands
21:43 – Occupancy rates
23:03 – Optimizing seasons
24:14 – Insurance options for Risks of damages
26:03 – Length of agreement
29:07 – Ideal properties for short-term rental
31:21 – Investment opportunities in Bongo PM
32:25 – The future of Bongo PM in the industry
38:29 – Bongo PM Rates
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