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Is Airbnb's reign in New York City coming to an end? New law may drastically limit short-term rentals. Find out more below...
In today's rundown:
  • 📧 E-mail marketing strategies for rentals
  • 🚀 Building a Strong Real Estate Photography Brand
  • 📸 High-quality photos' impact on Airbnb
  • 💰 Luxury Presence nabs $19.2M for Realtor app
  • 🏙️ NYC's rental law to significantly affect Airbnb
Read time: 2 minutes

🏙️ NYC's New Rental Law Shakes Airbnb
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As of September 5th, New York City will begin enforcing its Short-Term Rental Registration Law, which will significantly impact the availability of short-term rentals such as Airbnb. The law, established in January 2022, compels short-term rental hosts to register with the Mayor's Office of Special Enforcement. This could potentially reduce lodging options for visitors since the city's processing speed for host applications may result in a drop of available accommodations.

The law targets unregistered short-term rentals, obliging hosts to comply with regulations and prohibiting booking platforms like Airbnb, Vrbo, and Booking.com from processing transactions for unregistered properties. Hosts can only offer short-term rentals if they stay with their guests in the apartment or unit and can't host more than two paying guests at a time. Penalties will be incurred by both hosts and booking services that fail to comply with these requirements.
 
Read time: 4 minutes

Luxury Presence, a startup offering marketing solutions for real estate agents, has secured $19.2M in a Series B1 funding round led by Bessemer Venture Partners. The company aids with website creation, content marketing strategies, social media engagement, and more for realtors. They've recently launched Presence Copilot, an AI-powered mobile app for realtors. This funding will support product development, as Luxury Presence continues to serve over 10,000 real estate agents amid the ongoing pandemic and market slowdowns.

Real estate photographers can build a strong client base by investing in marketing strategies that showcase their expertise and generate leads. Key strategies include networking with real estate professionals, creating an attractive online portfolio, building a strong online presence, using targeted advertising, sending out targeted newsletters, showcasing client testimonials, and setting oneself apart as a real estate marketing partner. While results may not be immediate, these efforts can lead to a sustainable business, a strong brand, and a competitive edge.

In the competitive Airbnb market, compelling photos can make or break bookings. By understanding your target guests' needs, you can tailor images to attract the right visitors. Cleanliness and decorative touches set the scene, helping guests visualize themselves in your space. Highlight your home's unique features, from kitchen appliances to cozy bedrooms and outdoor spaces. Good lighting, preferably natural, dramatically enhances photo quality. If this seems daunting, consider hiring a pro: homes with professional photos get 47% higher asking prices per square foot.

Harness the power of email marketing for your vacation rental with these six steps. Begin by creating a comprehensive database of past guests and inquiries. Next, identify what your potential renters need and subtly highlight your property as a solution. Focus on creating relevant, beneficial content around a chosen theme, such as local events or travel tips. Don't forget to include updates on your property, promotions, and contact information. Use a trusted email marketing provider that complies with the CAN-SPAM Act. Lastly, give your contacts the opportunity to opt-in to your newsletter.
 
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