Proposal: Nounsbnb

                                     NounsBnb

TL:DR
Create themed short-term vacation rental based on Nouns brand. Themed Airbnb’s are the perfect
way to turn a product into experience. The point of the themed short term rental is to forget about the
world beyond the walls around you and immerse yourself in a new experience. Bringing all the joy of
NFTs into households is the perfect way to bring Nouns to the mainstream eye.

What is a Short Term Rental ?
Furnished apartments or homes that are rented for short periods of time (Days, Weeks, and Months).
They are seen as an alternative to hotels. (Popular short term rental sites: Airbnb, Vrbo, and Booking.com)

Why a Short Term Rental ?

  • Brand Awareness
  • Immersive Experience
  • Potential Revenue Stream
  • Scalability

Ideal Customer Base ?
Well it’s very diverse:

  • Professionals

  • Students

  • Couples

  • Singles

  • Young

  • Old

  • Attendees of Life Events(weddings, parties, sporting events )

(These are people that we in the crypto world consider to be Normies. They will get a welcoming experience in this immersive “NFT house” . Because they will be new to blockchain technology there will be features in place to onboard new wallets in an interactive & fun way. For example, instructions to claim POAPs, NFT history lessons built into the property, and much more.)

So how do we cater to the existing crypto/ NFT Community Members ?

There’s no doubt that this Nouns themed short term rental will attract adventure seekers, enthusiasts, content creators, and of course degens who want a place to meet up with their fellow degens.

Location

The first of NounsBNB will reside in Hoboken, New Jersey. A few factors go into this decision.

  • Proximity to Management Team (In case of emergencies my team would like to be close enough to handle any situations, this is because we prioritize customer service. Happy customers lead to better reviews )
  • Proximity to a major city - NYC ( Airbnb is banned in NYC for real estate investors. When families come to the city they want to stay under one roof, something they can’t do in a hotel in NYC. With Hoboken only being 5 minutes out from NYC via PATH Train. It makes it the next best option for families to stay.
  • Complies with local legal and regulatory requirements.
  • Demand growth on the rise (Historical Occupancy Rates will show there was high demand for STRs in Hoboken especially during peak summer season June - August 2019 half of all listings were booked 75% of the time. Moving into the 2020 pandemic year, occupancies dropped to 33%. Now today with the pandemic slightly under control we’re seeing occupancy rates above 2019 peak levels, outside of peak months. We can project that occupancy rates in the 50th percentile will increase to 87% by summertime. TL;DR occupancy trend is bullish.
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    Uploading: bullish trendline.png…

Why Nouns ?
The beauty with Nouns DAO is its L2 effects, imagine being able to immerse yourself into your favorite Nouns TV show, or your coloring book, or an Noun IOS app, or scroll through pictures of a noun being launched into space or seeing a Noun on a beer can during a super bowl commercial in a noun themed man cave or she-shed with a Noun themed couch and TV. With my knowledge in crypto and real estate I view Nouns DAO how a normie would view Disney (a collectible project with highly recognizable characters, that can be used to create experiences through entertainment and media,) but why stop there. Experiences can & should be immersive. This is when the idea of NounsBNB was born.

Imagine not knowing anything about Nouns DAO , you walk into this Airbnb with funky art and colors, and a few days later your down this rabbit hole of what and NFT is, pulling an artchick (drinking wine and buying NFTs) but in this case we could potentially get these people started with there first NFT … maybe a Nouns DAO poap that they can claim for free.

Who is on my team ?

  • Interior Designer

  • Tech Guru

  • Cleaning service

  • Maintenance

  • Linen and laundry service

  • Inspector and concierge/porter

  • Booking & Guest Support

  • Photographer/Content Creator

Budget:

A. $60,000 for furnishing of this apartment ( this includes all custom interior deco, accessories, and amenities based on Nouns IP)
Includes:
- Nouns custom furniture & wall art $10,000
- 3 Nouns Figures in acrylic display case $26,000
- Shopping List ( Airbnb Shopping List - Google Sheets )

B. $15,000 to cover two months worth of holding cost of property.

(All funds used will be tracked diligently. All items that include nouns IP will be journaled + accounted for in the event of damages + theft.)


Nouns Bench and Coffee Table Custom Created. Pictured above you can see cardboard concepts to 3D renders


Nouns figure in display case

Custom art décor to be customized into Nouns style frames

More about me:

My name is Owen Christopher I, I’m an international real estate advisor based New Jersey, U.S. among other things:

  • Owner / Operator of Tier 1 Management LLC a Property Management company

  • Property Developer

  • Realtor

  • Commercial Financing (Orbit Commercial Capital)

  • Masters in International Real Estate (Florida International University)

You can think of me as the property manager for the Nouns DAO brand. Holding the brand at the highest standard but at no liability to your corporation. This first STR will serve as the pilot program and with the success of this it will inspire better and brighter ideas. After the first 3 months I will come back with an additional proposal to again build another location with actual numbers and figures from the first one. From here we can waterfall revenues back into Nouns DAO. The future goal is to have these short term rentals booked off of centralized platforms such as Airbnb and move to a custom website with a web3 integration for discounts for verified Nouns holders (corporate housing/executive rental discount).

Interesting proposal. A few more details I think would be good to know:

1- Could we get more details around the location, pictures, Zillow link?
2- What kind of property is it, bedrooms, size, neighborhood, etc?
3- what is the itemized budget for the Google Sheet items
4- How do you envision Nouns’s share in the revenues of the Airbnb, and what system can be put in place to make sure everything is properly accounted for?

Thanks!

Hi Papagayo,

Thanks for taking the time to reply with feedback.

Hoboken is in Hudson County and is one of the best places to live in New Jersey. Living in Hoboken offers residents a dense urban feel. In Hoboken there are a lot of bars, restaurants, coffee shops, and parks. Hoboken attracts all types of people especially because of its proximity to New York City.


Without giving the exact address of the property for safety reasons, I’ve provided this map to give an approximate range of where it could be. You can also see where I point out the local train station, mall & grocery store. All within walking distance of the apartment, this neighborhood has excellent walkability.


Itemized Budget: Please refer to google sheets link in original post. I’m currently in the process of updating this with prices. Will give update once done.

RevShare: It’s not well defined yet and based on my initial homework it will depend on not only the scale of the operation but also the tax, legal etc. consequences of returning profits to Nouns DAO

But I will send how I envision it in my next post.

I will also give update on checks & balances in next post.

Thank you

Airbnb has amazing co-host features that allows hosts to add, remove , and manage the roles of specific individuals (cleaners, porters, handymen, partners) within an organization. This is extremly useful because everyone involved in the operation can instantly see everything that is going on depending on their permissions. However, there are some people in the organization that need some information but not enough to justify being a co-host and having admin control (Nouns DAO). This is where PMS or property management software comes into play, by using direct data from Airbnb hosts are able to share reports of what’s happening in their business with anyone freely & almost instantly. Some examples of this software are Hospitable & Guesty

To be clear this property will be charging for stays, using Airbnb-Vrbo-Booking.com & eventually a custom booking website with web3 integration to give discounts to holders of specific projects.

Some revenues will flow back to nouns DAO but still trying to workout the best structure because of legal & tax implications.

It the rent for the apartment in use is $7500 the revenue per night would need to be around $250 per night for the business model to make sense.

Going based off of the national average for vacation rental bookings in 2021 (60%) we can assume we’ll be booked for only 17 nights out of 30 nights in a month.

That means if the apartment gets booked for 17 nights out of 30 it would need to have an average of $442 per night to make sure rent is covered.

In this area a 3 bedroom 2 bathroom can go for $400 a night easily. Then when we include the amenities (pool, balcony, concierge service, washing and drying, shuttle to NYC) + the view of New York City and the Hudson River you can charge upwards of $650 per night.(this information is based off of similar rentals)

So if we get booked for an average of $650 per night for 17 days out the month that is $11,050

$11,050 (revenue) - $7500 (monthly rent) = $3550

We can assume expect expenses to be around 10% of monthly rent so let’s say $750

$3550 - $750 = $2800 monthly profit

25% will go to property management
= $700

Net profit: $2100 (how this gets spilt between nouns DAO or nounish projects still needs to be discussed but one option I’ve been thinking about is supporting nounish projects that we can use in our properties like the nouns coffee mugs recently created. I’ve just bought a few nouns playing cards to put in the unit also profits can be used to acquire more properties. You can see how 4 properties can easily scale into a $100,000 per year operation. Who knows maybe one day there will be a nouns hotel)

This is just an example analysis.

hey, i really appreciate the thoughtful proposal and respect the amount of time you have put into this

unfortunately i do not think this is a proposal i can support

simply put, i would not want to stay in an AirBnb in Hoboken with NFT stuff all over the place, and I don’t think the average traveler does either

i do think this is a cool concept and i appreciate you coming to us with a creative way to integrate nouns art into the world in a unique way. however, i think you as the manager are better served by having an apartment with normal attractive decor