Thorben Scheidegger and Saad Dar from Baselane: “Set Up the Right STR Banking from the Get-Go”
Life as a short-term rental (STR) host is a thrilling financial journey — where you are trying to balance your profit and expenses while riding a unicycle on a tightrope! Still, there are ways to bring stability and efficiency to your rental finance operations.
In the latest episode of the Hospitable Hosts podcast, we had the pleasure of hosting Thorben Scheidegger and Saad Dar, the masterminds behind Baselane. As two short-term rental hosts themselves, they got inspired by their experience to create a tailor-made financial operating system and banking platform to save you time and maximize your STR returns.
Tune in now to our Hospitable Hosts podcast and embark on a smooth sail toward financial prosperity in the stormy world of short-term rentals.
Prefer to read the highlights? We’ve got a summary of the key takeaways below.
More Than Your Usual Banking Partner
Thorben explained the existing need for not just a financial tool but a comprehensive ecosystem tailored to the unique roles of hosts and property managers.
From rent collection to banking, accounting and lending, Baselane covers the entire spectrum of financial services, providing a seamless end-to-end solution. Thorben stressed the elimination of the daunting task of year-end financial overload deciphering the money situation:
“While we cover both long-term and short-term rentals, we’re building out more and more features that are specific to STR. In our bookkeeping and analytics tool, you can really track at a granular level where exactly your money is going, really controlling the cost side of your business.”
What Does It Take to Finance an STR?
Thorben and Saad point out that banking lies at the heart of any business, and STRs are no exception. They explained that Baselane takes finance management a step further by offering tools that actually help hosts streamline their day-to-day operations, including automated solutions, tax-friendly categorizations and schedules.
“It’s about where your revenue comes in and it’s about where your costs are going out. And when we think of the kind of banking as Baselane, it’s not just banking itself. It’s really the whole financial stack that surrounds banking.”
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The Financial Dynamics of the Past Years
In a market characterized by shifting financial dynamics, hosts must adapt to thrive. The changing cost landscape necessitates a proactive approach to financial management.
Saad highlighted the increasing concerns about the impact of inflation and rising expenses. That’s why, in a tense period like this, he expects smart decision-making and even more optimization from both STR hosts and software providers like Baselane.
“I think what you can expect from us is that we’ll continue to stay close to the community and listen… and try to build tools that most property managers find useful.”
GOOD NEWS: Key Drivers Are There For Years to Come!
Looking ahead to the future of the STR market, our expert guests pointed out the promising prospects on the horizon, despite various opinions found in the media.
“Looking ahead, there are different kinds of forecasts that you see online. Our view is quite bullish on the segment in general. We continue to see a few key drivers,” stressed Saad.
In the full episode of the Hospitable Hosts podcast, Thorben and Saad discuss the exciting trends that indicate a bright outlook for STR hosts, including:
Thriving markets in the era of remote work
Democratizing STR with technological solutions
The continuing shift from long-term to short-term rentals
Using data-driven solutions to navigate economic challenges
Want to learn more about the best STR financing tools, recent analyses and future projections?
Or maybe rather curious to hear Thorben and Saad’s personal hosting stories?
Explore the full episode of our Hospitable Hosts podcast now!
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