Elevate Your Rental Property: The Hestia Approach to Lucrative Mid-Term Rentals

By: Kaitie Moore Underwood | REALTOR®, Blue Collar Commercial Group

I had the pleasure of hearing Vivian Yip, founder of Hestia, speak on September 5th, 2023. She presented to a captivated audience of lady real estate investors at an InvestHER San Antonio meet-up. If you’re a rental property owner looking to unlock new revenue streams and enhance your real estate portfolio, the story of Vivian is sure to inspire and guide you. Vivian’s journey from hospitality enthusiast to the founder of a thriving mid-term rental platform holds valuable lessons for property owners seeking to maximize their investments. Let’s dive into the world of Hestia and explore how it can help you achieve your goals.

Vivian Yip: The Visionary Behind Hestia: Vivian Yip’s passion for hospitality was ignited during her internship at an international hotel in Hong Kong at the age of 17. Her fascination with Greek mythology, particularly the goddess of hospitality, Hestia, inspired her brand. This blend of passion and practicality lay the foundation for Hestia’s success.

Vivian’s foray into the furnished rental market in 2019 encountered a significant hurdle with the onset of the pandemic in March 2020. After a life-changing encounter with Robert T. Kiyosaki, the author of “Rich Dad, Poor Dad,” on a flight, her career shift took on life. Instead of faltering as many businesses did as a result of COVID 19, she pivoted her business into mid-term rentals, catering to families relocating, individuals in transition, and business travelers. Her impressive occupancy rates of over 90% demonstrated her ability to adapt to market demands. So far, she operates in Dallas, Houston, San Antonio, Chicago, and Austin.

Unlocking the Potential of Mid-Term Rentals: As a rental property owner, you’re likely seeking ways to optimize your investments. Vivian’s journey provides invaluable insights into how you can do just that. Here’s how Hestia can help you transform your rental property:

1. The Hestia Vision: Hestia’s vision is clear: to become the top destination for whole-home mid-term rentals. By partnering with Hestia, you tap into their commitment to creating unique and memorable guest experiences while maintaining high standards. You also benefit from the extensive partnerships/connections that Vivian has so diligently accumulated.
2. Embrace Innovation: Vivian emphasized the importance of continuous innovation. By joining Hestia, you gain access to a platform that stays ahead of market trends and keeps you competitive.
3. Escape the Time-for-Money Trap: Hestia’s transition to mid-term rentals allowed Vivian to stop trading time for money. As a property owner, you can also benefit from longer booking durations, reducing the time and effort spent on short-term guest needs and property turnovers.
4. Specialize and Thrive: Vivian’s success is a testament to the “the riches are in the niches” philosophy. Hestia’s platform allows you to specialize in mid-term rentals, catering to a niche market that values quality and consistency.
5. Deliver “Surprise and Delight”: Just like renowned hotel brands, Hestia prioritizes creating memorable experiences for guests. By aligning with Hestia, you can provide exceptional guest experiences, leading to repeat bookings and positive reviews. Her focus of “Surprise and Delight” has been adapted from the famous Westin hotel brand, and the comforts of Doubletree Hotels are also beautifully incorporated.
6. Focus on Abilities, Not Limitations: Vivian’s advice to focus on what you can do is a mantra embraced by Hestia. Together, you can harness your property’s potential, focusing on its unique strengths.
7. Tapping into an Emerging Market: Only 12.1% of rentals in the market are mid-term rentals, indicating a significant growth opportunity. Hestia’s platform positions you at the forefront of this emerging market.
8. Pros and Cons of Mid-Term Rentals: Hestia acknowledges that mid-term rentals require more screening and may occasionally yield lower revenue. However, they offer benefits such as higher quality tenants, lower turnover, and the freedom to manage your property without hotel occupancy taxes, short-term rental insurance, or permits.

Conclusion: Vivian Yip’s journey from a hospitality enthusiast to the founder of Hestia showcases the potential for property owners to elevate their investments. Hestia’s commitment to redefining mid-term rentals aligns perfectly with a property owner’s goal of optimizing revenue. By partnering with Hestia, you gain access to a platform that empowers you to deliver exceptional guest experiences, embrace innovation, and unlock the riches hidden in the mid-term rental niche.

To embark on your journey towards lucrative mid-term rentals with Hestia, visit their website: Hestia Corporate Rentals. Elevate your rental property, embrace innovation, and join the Hestia community to achieve your means in the world of real estate.