Vacation Rental Operator and Founder of COSSTRA

Episode 3 – Ryan Spradlin

In this episode of the Wake Up Colorado Podcast, our guest is Ryan Spradlin. Married and with two kids, Ryan is an application developer for an insurance company and has worked remotely from home for about 15 years. A trip to Europe inspired he and his wife to rent their house which started them on the path to short-term rentals. Ryan founded Colorado Springs Short-Term Rental Alliance, an organization that provides information and collaboration space for short-term rental owners and operators in Colorado Springs.

Standout Quotes:

  • “What I enjoy the most is the idea of helping these people make these memories, but the same kind of memories we make when we go to places.” – Ryan

  • “The tough part about the Facebook group is like vetting people’s posts and trying to understand their intentions and then trying to be fair with people.” – Ryan

  • “Anytime there’s a low supply and high demand, the prices are going to go up.” – Ryan

  • “Most of the people who own short-term rentals are just regular people trying to create an alternative path for retirement.” – Ryan

  • “We’re giving people the ability to live in the moment and bring their family to a place and experience what it would be like to live in Colorado Springs up against the mountains.” – Ryan

Key Takeaways:

  • Air Force events allow you to talk to the family and understand who they are, and get comfortable with the idea of renting.
  • Having a remote job and renting a house gives you the experience of feeling like you live in that area.
  • Short term rentals provide services and jobs beyond just pumping money into the city.
  • Facebook is an excellent way for people to share resources and help each other, but it’s sometimes bad when people come for the wrong reasons.
  • There’s no house storage, Colorado Springs will continue to grow east
  • In Colorado Springs, prices continue to go up because people continue to move here and want to buy more expensive than the Colorado Springs average price.
  • The number of short-term rental listings continues to drop in Colorado Springs, yet the housing prices haven’t dropped.
  • Covid has influenced the fall in short-term rentals, generating more work for people who continue to rent.
  • Creating a clean system will help you to feel comfortable at the moment of renting your house.
  • Colorado Springs will scale due to the new constructions
  • Manitou Springs is a hidden gem that people don’t know about when they come to Colorado Springs

Episode timeline:

[1:15] Meet today’s guest, Ryan Spradlin.

[7:34] What Ryan enjoy the most about having in managing short-terms?

[10:33] Learn about the Colorado Spring Short-Term Rental Alliance.

[16:31] The ups and downs of managing a Facebook group.

[20:47] Ryan’s thoughts about why people attribute the shortage to short-term rentals.

[25:12] Why are we continuing to see such a decline in short-term rentals?

[28:19] The biggest negative misconceptions people have about short-term rentals.

[30:02] Ryan’s best and worst guest experiences.

[36:55] What Ryan sees as the future of the local travel industry.

[39:02] Ryan’s favorite hidden gem in Colorado.

[40:45] Piece of advice to a person visiting Colorado

Learn more about Ryan Spradlin and his company at:

Website: http://cosstra.org/

Patreon: https://www.patreon.com/COSSTRA

Facebook: https://www.facebook.com/COSSTRA/

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