The Merchant of Record Mistake Every Co-Host Needs to Avoid with Bill Faeth of Build STR Wealth
August 25, 2026
Bill Faeth has spent nearly 30 years investing in real estate, building a multi-million-dollar portfolio by strategically shifting from long-term rentals to short-term rentals in 2015. Today, as the founder of Build STR Wealth, he helps investors and operators grow profitable vacation rental businesses through smarter ownership, self-management, and business strategy. But before talking about revenue or returns, Bill believes the industry's biggest opportunity lies somewhere else: bringing people together.
In the first part of this three-part series, Lynell sits down with Bill to discuss the divide between legacy property managers and the growing co-host community, why both sides have more in common than they realize, how co-hosting should work when it's done correctly, and why mentorship and community will shape the future of the vacation rental industry.
Bill Faeth has built a career around identifying opportunities before the rest of the market catches on. After decades investing in residential and commercial real estate, he transitioned much of his portfolio into short-term rentals in 2015, building a multi-million-dollar business across highly desirable vacation markets. Today, through Build STR Wealth, he coaches investors and operators on everything from portfolio growth and self-management to building long-term wealth through vacation rentals.
In this first part of a three-part conversation, however, the focus shifts away from investing and toward the evolution of the vacation rental industry itself.
Lynell sits down with Bill to explore one of the industry's biggest points of tension: the perceived divide between traditional property managers and the rapidly growing co-host community. Bill shares why he believes both groups bring valuable perspectives, where misunderstandings have emerged, and why collaboration will ultimately strengthen the industry more than competition ever could. The conversation also explores ethical co-hosting practices, merchant-of-record responsibilities, mentorship, community building, and Bill's vision for creating more meaningful industry events.
What you'll learn:
- Why Bill believes professional property managers and co-hosts have more to learn from each other than compete over
- How co-hosting differs from traditional property management and where responsibilities should begin and end
- Why merchant-of-record responsibilities matter and how co-hosts can structure their businesses to better protect homeowners
- How mentorship and community have shaped Bill's career and why they're central to his vision for the industry's future
- Why Bill and Steve Schwab are creating a new conference centered on small-group learning, collaboration, and relationship building
- How content creators, educators, coaches, and operators each play different roles within the vacation rental ecosystem
- Why helping the industry grow has become more important to Bill than simply growing his own business
About Bill Faeth: Bill Faeth is the founder of Build STR Wealth and a veteran real estate investor with nearly three decades of experience across residential, commercial, and short-term rentals. After transitioning much of his portfolio into vacation rentals in 2015, he built a multi-million-dollar portfolio while helping thousands of investors improve profitability through smarter ownership and self-management. Today, Bill is a respected educator, speaker, and mentor who is passionate about strengthening the vacation rental industry through collaboration, ethical business practices, and community.
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The Vacation Rental Show is handcrafted by our friends over at: fame.so
Previous guests include: Jim DeVos of Best Beach Getaways, Stacy Wesson of Cascara Vacation Rentals, Michael Friedman of The Simple Life Hospitality, Steve Caron of Inhabit, John An of TechTape, Jessica Gillingham of Abode Worldwide, Justin Ford of Breezeway, Mahwussh Alam of One Perfect Stay, Sofia Rossato of Inhabit, and many more.
Check out the three most downloaded episodes:
- Vacation Rental Stories: Episode 63 - Driving Innovation and Partnership
- Homeowners Become Family with Michael Godfrey, Owner of Michael’s Vacation Rentals
- Life in Maui as a Property Manager with Scott Jordan, Owner of Maui Life Realty
Got a question for The Vacation Rental Show?
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Whether you’re navigating pricing strategy, owner retention, tech stack decisions, franchise growth, or operational scaling — no question is too big or too niche.
Submit your question in writing, audio, or video — whatever works for you. Lynell and her industry expert guests will select real questions from property managers like you and answer them on the show.
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