How We Turned a Rental into a High-Performing STR Without Owning It
Everyone talks about Airbnb arbitrage like it’s just about finding a rental, furnishing it fast, and hoping the bookings roll in. But turning a dated, underloved beach house into a $50K-per-summer performer? That takes strategy.
This blog post is a honest look behind the scenes of how we turned a dated five-bedroom rental into a $50K+/summer performer. It's a walk-through of how we found it, set it up, staged it, launched it and why it’s now one of our most exciting short-term rental projects to date.
Step 1 - finding the right rental
What Made Bonnet Beach Bungalow perfect for STR Arbitrage
This wasn’t just a lucky listing. In fact, we stalked this property for weeks, and not just because of the location. The strategy started long before we ever walked through the door.
We had been tracking the market data in this Rhode Island beach town for months, analyzing average nightly rates, occupancy trends, and seasonal booking behavior using tools like AirDNA and BnB Calc. The town’s summer months were lucrative with family-friendly tourism, but the off-season brought a unique twist: a local university meant we could fill the property with student renters from September through May. This offered a rare combination of strong summer cash flow and break-even midterm rentals—lower risk, higher upside.
Finding a 12-month lease in this area was nearly impossible because most homeowners preferred short seasonal bookings or personal use. When this five-bedroom popped up with a full-year lease, it immediately stood out. We contacted the owner directly and pitched our model.
The location hit all the right notes: close to the beach, on the community shuttle loop (a huge plus for guests lugging chairs and coolers), and a short distance to family-friendly shops and restaurants. The owner also had STR experience, which made it easier to pitch our model. The house itself? Not Instagram-perfect, but solid bones and underloved, which is exactly what we look for.
Step 2 - Securing the Lease and Planning the Flip
From College Tenants to STR Guests in Seven Days
Most arbitrage models require you to furnish from scratch, but this owner offered the house with furniture already in it — free for us to use or upcycle. This offered a welcomed head start. We took over the property on June 1, just as the college tenants moved out, and had less than a week to flip it before the summer booking window opened.
With no time for a remodel, we focused on high-impact changes: repaint, reupholster, and replace. We made a full inventory of what could be salvaged (beds, dining table, a few larger pieces), then built a plan around how to elevate the space without blowing our timeline or budget. One of our favorite contractors drove up from New York and stayed onsite for three days. During that time, we:
Repainted all main living areas
Swapped out dated light fixtures
Installed wallpaper and assembled furniture
Meanwhile, we ordered what we needed for the rest of the space — bedding, curtains, pillows, and decor that would help us market this as a premium short-term rental. Every design choice was made with speed, guest experience, and booking appeal in mind.
Step 3 - Staging It for Airbnb Success
Staging It for STR Bookings at a Higher Nightly Rate
Whether for clients or our own listings, we’re always staging for bookings — with Bonnet Beach Bungalow specifically, we focused on a premium family beach house experience. What would attract this type of guest? Warm lighting, fun motifs, layered textures, colorful, still with a sense of calm. This helped the house feel intentional, rather than thrown together. We repainted what we could, replaced what didn’t fit, and styled every corner with real-life flow in mind.
We were able to reuse much of the existing furniture, so our $10,000 staging budget stretched further with quality paint, wallpaper, lighting, and soft goods that elevated the look without extending the timeline.
We used the same strategy we bring to every “Design That Books” client. Focus on the things that will move the needle now and save the upgrades like fire pits or bikes for next summer.
The result? Within one week of going live (before the new photos were even uploaded) we had bookings. Once the updated listing photos hit Airbnb, we raised the rate and secured our first $850/night stay.
From lived-in to listed. And booked.
Step 4 - The Numbers game
The Strategy and ROI Breakdown: What It Earned and What It Cost
This is where the numbers start making sense and where all the early work pays off.
The core strategy with the Bonnet Beach Bungalow wasn’t to hit a home run right away. It was to build a system that paid for itself in the off-season and produced serious returns in the summer. We knew that if we could break even for nine months and dominate peak season with premium rates, we could outperform properties that looked "better" on paper.
Midterm college rentals cover the baseline rent and utilities. We don’t make a profit during that period, and that’s okay. It gives us a low-risk foundation so we can go all-in on the summer season with a clear mind and a clean budget.
We used promo pricing early on to attract bookings and reviews fast. That helped build momentum. Once the updated listing went live, we raised the rates and saw bookings jump to $850-$900 per night.
None of this was accidental. The design, pricing, and timeline were structured around one goal: to hit $25K–$30K months in the high season and make our money during the window that counts. And we’re on track to do just that.
Here’s where things get interesting!
We pay $5,000/month in rent. In the off-season (September to May), we plan to rent to college students at $1,000/month per room, which means we break even. That’s our safety net.
Summer is where the profit is:
Our initial new-listing promo brought in bookings at $600-700/night
After updating the listing with professional photos, we hit $900-$1,000/night
We booked multiple 5-night minimum stays
Projected peak-season earnings next year: $23,000 to $28,000 per month, making us an annual profit of ~$50k/year!
Setup costs:
Staging + setup: approx. $10K
Repurposed owner furniture = major savings
Laundry contract with a local laundromat
Cleaning team found via Turno, with a backup vetted and ready
This is how you make money on Airbnb without owning property.
Thinking Of Your STR Business…
If you’re looking to apply some of these insights to your own STR strategy, whether you own a property or are exploring arbitrage, here’s what this project confirmed:
Don’t overlook seasonal markets. The combination of high summer demand and off-season college rentals offered us cash flow plus stability. Look for towns with a dual market.
Pitch to the right kind of landlord. We secured this lease because we pitched the right owner who already had STR experience and understood the value of long-term care and added design investment. You’re not just asking for permission, you’re presenting a business case.
Speed matters, and so does sequencing. We focused on what would spark bookings immediately (staging, fresh paint, better lighting), and saved larger upgrades like outdoor amenities for next year.
Reuse what works. The ability to repurpose existing furniture offered us budget flexibility. Instead of spending everything on furniture, we put money into soft goods, styling, and details that actually convert to bookings.
Use your off-season intentionally. Break-even midterm rentals aren’t flashy, but they give you freedom to go all-in during the high season without panic.
This wasn’t about cutting corners. It was about making strategic decisions every step of the way—and building a property that will keep growing in value year over year.
Ready to Get Started?
You don’t need to own a beach house to profit from one.
Block & Barker offers property sourcing, STR design and setup, and full-service STR management for investors and homeowners who want to run a high-performing short-term rental without doing it all themselves.
If you’re curious about Airbnb arbitrage, or you want to talk about making your current property STR-ready, we’re here for you.
Frequently Asked questions
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Start by understanding your local rental market, then find a property where the landlord is open to a long-term lease with STR subletting. From there, you’ll need a solid business case, a polished pitch, and the ability to furnish and manage the property like a hospitality pro. (That’s where we come in.)
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We spent about $10,000 on setup, including staging, paint, lighting, and soft goods. Because the owner let us repurpose existing furniture, that budget stretched further—and went straight into what guests actually care about.
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At Bonnet Beach Bungalow, we got bookings within the first week, even before the new photos went live. Once they did, we raised rates to $750 a night. It’s all about timing, pricing, and how well you present the property.
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Midterm rentals. From September to May, we lease the property to college students, which covers the full rent and utilities. No profit, but no losses either, which means summer is pure revenue.
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If you run the numbers right, yes. Markets like this one (family-friendly, seasonal, with off-season demand from students) can deliver serious ROI without the risk of ownership. You just need the right property, the right plan, and the right setup.
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Absolutely.
We help owners turn underperforming or unused homes into high-earning STRs. Whether it’s a second home or a recent investment, we handle everything from design to guest management.
We’re Pete & Georgie - The Founders of Block & Barker
With 8+ years of experience and a portfolio of 20+ properties, we’ve learned what works (and what doesn’t) in Short-Term Rental Management. On this blog, we share our tried and tested insider strategies, and real lessons from running successful rentals—so whether you're just starting out or looking to optimize, you’ll find plenty of value here. Our goal is to help you maximize your earnings, streamline your operations, and build a standout short-term rental business.
