Course Description

Picture this: a world where every Tom, Dick, and Harry with a spare room fancies themselves a hotelier. Over the past few years, short-term rentals have transformed local economies, with venture capital buying up properties and driving up prices and some neighborhoods becoming raucous party zones. For property owners, it can be a great income opportunity. But some cities are pushing back, restricting or even banning STRs.

Meanwhile, Fannie Mae recently issued new guidance, saying that STR income can be considered for credit risk analysis, and that you can’t report STR income on a 1007. It’s enough to make a seasoned appraiser’s head spin.

In this course, Bryan Reynolds will take you on a tour of the mad circus of short-term rental valuation. He’ll interpret Airbnb and VRBO listings and point you toward credible information sources like AirDNA, Mashvisor, and AllTheRooms. You’ll learn to make sense of peak season rates, average nightly rental, and rates that change faster than you can say, “Last minute cancelation.”

You’ll learn to juggle occupancy rates, seasonal demand, cleaning fees, and personal property vs. real property. How do you estimate income when your “hotel” is a suburban dude’s beach house that’s only available when they’re not using it themselves? Bryan will walk you through the whole process.

What’s the difference between going concern, business value, and real property value? Bryan covers that. This course is perfect for new appraisers and seasoned veterans trying to learn new tricks. Short-term rentals aren’t difficult to appraise, but you’ve got to know the whole story. Bryan Reynolds helps you tell the whole story.