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Short Term Rental Secrets Podcast
Ep 217 - The Power of Quality and Standards with Andrew Rodriguez
Nov 25, 2024
Andrew Rodriguez, President and Co-Founder of Stay Booked, shares his journey from managing just two properties to earning $21K a month with six unique homes. He emphasizes prioritizing quality over quantity in the short-term rental market. Topics include the importance of setting strict standards, managing tough client conversations, and effective marketing strategies. Andrew also discusses navigating the challenges of regulation and building a supportive community among hosts through meet-ups and collaborations.
30:32
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Quick takeaways
- Focusing on quality rather than quantity in property management led to substantial growth, increasing profits to over $20,000 monthly with just six properties.
- Establishing and communicating clear standards at the onboarding stage fosters strong client relationships, minimizing operational challenges in property management.
Deep dives
Embracing High-Stakes Decisions
A pivotal moment for the guests occurred when their son fell ill, prompting them to transition from traditional employment to focusing exclusively on short-term rentals. This decision was described as 'burning the boats,' which signifies committing fully to a new path by eliminating backup options. Not only did they leave high-paying jobs, but they also set a clear goal of enhancing their property management business. As a result, within nine months, they escalated the number of properties they managed from two to six, dramatically increasing their profits to over $20,000 per month.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode