Today we’d like to introduce you to Ted Lin.
Ted, we appreciate you taking the time to share your story with us today. Where does your story begin?
Our first Airbnb host experience was back in 2016 Spring. My wife and I listed a small townhouse in Texas Medical Center for just a few months. We then converted it to long-term rental. In 2020 during pandemic, the entire world was locked down at home, and we started to research the short-term rental industry. We saw the travel boom and soon learned that people aren’t staying at home long. We jumped in without too long hesitating. We began the journey from 2 apartment units in February 1st of 2021 and expanded to 9 units in less than 6 month. We then purchased a townhome in late 2021 and turned it into a short-term rental. We have become the best-rated host in the neighborhood since the first month. Our target clients are MD Anderson patients, their family, and travel medical professionals. Our units are designed to satisfying this type of travelers. We offer detail service and bring awesome lodging experience to them. We manage 11 units covering 1,2,3 bedroom and still look for opportunities all the time.
Can you talk to us a bit about the challenges and lessons you’ve learned along the way? Looking back, would you say it’s been easy or smooth in retrospect?
Lodging industry is very seasonal. We have peak season from Feb to Sep, and it’s slower in fall and winter. We learned the trend, but we really understood how harsh it could be in the first winter. Our occupancy rate dropped to 60%, which barely covered our rent. Two of our competitors went bankrupt in the winter 2021-2022, which happened to save us from bleeding. All the travelers to this area have no choice but come to us since then and stabilize our business. Another occasional issue is smoking in our units. We are no smoking environment, but it’s really hard to stop smoking at all. Luckily, we have enough units in the same building; we can relocate our clients in case the strong smell can’t be removed before the next check-in.
Thanks – so, what else should our readers know about StayCozy- ST Corporate Housing LLC?
We are a furnished rental company. We provide stylish lodging to the travelers in Texas Medical Center. We specialize in the weekly and monthly furnished rental. People are always looking for homey convenient place to stay due to the length of the stay in the unique market. We stands out by providing awesome lodging products in class-A communities. We forge green and gold elements into mid-modern-century in our properties which have become our icon. Our clients enjoy and admire our design taste thanks to my wife.
Many people think the STR business is to set up and forget. However, a successful business needs a lot of attention before it can run by itself. We manage our properties to every detail and cut out the managing level expenses. It takes tremendous amount of resources and energy to build a great company. We always update our amenities by observing what people need and want. We are still building our brand and business culture. We expect our employee carry out our core value, “Make the Trip Easier,” to our clients.
We love surprises, fun facts, and unexpected stories. Is there something you can share that might surprise us?
I am also very good at credit card games. The funding to my business is mostly from the 0% interest credit card. Thanks to the generous banking system. We are able to expand so fast with very little out-of-pocket money.
Pricing:
- $2850-$3300/m for furnished 1br apartment
- $4350/m for furnished 2br apartment
- $5100/m for furnished 3br townhouse
Contact Info:
- Website: https://staycozy.co/
- Instagram: staycozy.tx
- Facebook: https://www.facebook.com/staycozy.tx/
- Linkedin: https://www.linkedin.com/company/staycozytx/
Image Credits
Amber Liu
