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Managing High-End, Luxury Properties Pays Much Better! -Deana Steele
Description
Deena Steele manages luxury vacation rentals in Kelowna, British Columbia - lakefront trophy properties worth $6 million and up - and commands rates 30% higher than standard listings by targeting VIP guests who book themselves, bring their own teams, and leave behind thousands in designer goods. She built her portfolio through Instagram DMs and LinkedIn outreach, never paying for ads, but now faces British Columbia's 10-day-notice short-term rental ban that wipes out 99% of her investor-owned listings and forces a pivot to midterm corporate stays and a boutique tiny-home resort concept.
The episode covers luxury STR client acquisition through social media relationship-building, the mechanics of high-end property management (spoiler: easier than budget rentals), surviving Canada's sweeping regulatory crackdown - including a speculation tax, vacancy tax, foreign buyer ban, and dock restrictions on commercial lakefront use - and Deena's plan to launch an adults-only couples retreat modeled after Habitas resorts, potentially using a hotel license to sidestep the short-term rental prohibition.
Work with us. Interested in professional management or consulting?
Myka — Sharebnb: www.sharebnb.com
Steve — Argest Rentals: www.ArgestRentals.com
Sign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hosts
Myka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@Entrepremarriage
All our links: linktr.ee/liveletthrive
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