Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | STR Revenue Management

As short-term rental hosts, we don’t expect bad things to happen at our Airbnbs. Jennifer Lawyer didn’t either. But just 30 days after she’d purchased a hotel in the Ozarks, disaster struck, threatening the health and safety of her guests. What can you do to prevent something similar from happening at your STR properties? Jennifer is Cofounder of SoulSTR, a short-term rental management company that with a portfolio of hotels, motels and log cabins with close to 140 doors. On this episode of Get Paid for Your Pad, Jennifer joins me to discuss the serious carbon monoxide leak that hit her hotel and explain why you can’t trust a generic inspection to identify all safety risks. Jennifer describes the trauma she and her guests experienced from having their health threatened and challenges us to be proactive BEFORE disaster strikes our Airbnbs. Listen in for Jennifer’s insight on building a network of support in the STR community and learn what steps to take to keep your properties safe and protect your Airbnb guests! Topics CoveredWhy Jennifer walked away from a career in education for short-term rentalsHow Jennifer grew from managing one log cabin to nearly 140 doorsThe serious carbon monoxide leak that struck Jennifer’s hotel in the OzarksThe trauma Jennifer and her guests experienced from having their health threatenedWhy you can’t trust a generic inspection to identify all safety risksWhat steps you can take to prevent a carbon monoxide leak at your AirbnbThe regular safety protocols Jennifer implemented across her STR portfolioGetting feedback around safety from the staff who helps maintain and clean the propertyWhat it looks like to be proactive BEFORE disaster strikes your AirbnbsThe strong relationships that helped Jennifer recover from the trauma of the experienceWhat Jennifer is doing to care for the brand for her management companyJennifer’s goal to manage all 140 units with the same level of customer careConnect with Jennifer LawyerJennifer on Airbnb Resources  How to Buy Run-Down Motels and Convert Them into Airbnbs on GPFYP EP468Milpa BrandketingGPFYP on YouTubeGPFYP on InstagramSTR Legends MastermindFREE Airbnb Starter GuideReview GPFYP on Apple Podcasts  Email team@overnightsuccess.io Sponsor Legends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

2022 was a record-breaking year for the Get Paid For Your Pad podcast, with 99 new episodes!Do you have a favorite? Which one do you think was the most downloaded podcast of 2022?Today for the first Get Paid For Your Pad podcast of 2023, I thought it would be fun to share the show's record-breaking stats and let listeners know which episodes were the most popular of 2022.I'll share the top podcasts in 5 different categories, including top 3 downloads, innovative, inspirational, tools and services, and actionable tips.I’m sharing episodes that include interviews with other hosts who have catapulted their STR units, used outside-the-box ways to fill bookings, and guests who will inspire you with their stories of going from hectic host to LEGEND. Plus, actionable steps YOU can use to make your 2023 STR resolutions a reality.Listen in as I share my goals for the podcast in 2023 while pointing you toward the 2022 podcast episodes that will be really helpful for you to make 2023 the best year yet for your STR business.Topics CoveredThe top 3 most downloaded podcasts in 2022Which episode can help you catapult your number of STR UnitsThe 3 biggest takeaways from David Bergmann, who went From 25 to 100+ STR Units in Less Than 1.5 Years (Ep521)The #1 takeaway from the interview with Tim Mortimer, who has doubled his number of properties since the beginning of the Covid-19 pandemicThe 3 most innovative podcasts of 2022Detailed strategies to get your Airbnb properties noticed (and bookings filled) by film producers, corporations, or corporate travelers for a jackpot payday3 inspirational podcasts that will take you from hectic host to LEGEND in no timeThe BEST innovative tools for up leveling your guests' experience, borrowing funds based on future income, and marketing your properties through influencersActionable steps YOU can use to make your 2023 STR resolutions a realityHow to determine YOUR financial freedom numberThe 5-step process to help you solve communication issues with your guestsFor full episode show notes visit: https://getpaidforyourpad.com/podcast/best-of-get-paid-for-your-pad-in-2022-ep535 Hosted on Acast. See acast.com/privacy for more information.

What does it take to build and manage Europe's largest residential management platform, managing a portfolio of varied asset classes? Today on the show, my guest is Will Parry, the CEO, and Director of ALTIDO. ALTIDO, which stands for 'a life that I dream of', is the largest short term rental company in Europe, with asset classes that include Airbnbs, serviced apartments, hotels, stately homes, and private residences. Will joins me on Get Paid for Your Pad today to discuss the unique selling points of ALTIDO, the advantages and challenges of managing so many different asset categories, and why it's vital to be able to adapt your model to fit your market. Listen in as we discuss the challenges in building the ALTIDO brand, why it's vital to revisit your value proposition to be a successful property manager, and his tips for STR operators who want to grow to over 100 units. Plus, Will shares his advice on what property managers should focus on in the next 3-5 years. Topics Covered Will shares the unique selling points of ALTIDOWhat is the advantage of having multiple asset classesWhy diversification has become integral to their multinational businessDiversifying in the US vs. EuropeWill shares his thoughts on building a brand when you are just starting outThe critical reason for revisiting your value proposition as you build your businessWhy they are on a quest to achieve hotel standards as far as service goesHis recommendations for what property managers should be focusing on in the next 3-5 yearsWhat to focus on to be successful as a property managerWill shares his number one piece of advice for STR operators wanting to grow to over 100 unitsConnect with Will ParryALTIDO Will on LinkedInResources Get Paid For Your Pad on YouTubeLegends X STR AcceleratorJasper on InstagramEric on InstagramGet Paid for Your Pad Email ListSubscribe to GPFYP on Apple Podcasts FREE Airbnb Starter GuideSTR Profit AcademyOvernight SuccessEmail team@overnightsuccess.ioSponsored ByLegends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.

Where'd you get most of your STR bookings this year? What challenges did you face in managing your business? Was there something that stood out that made things easier or something that you thought was a real pain? As we're nearing the end of the year, it's a great time to take a moment and take stock of what worked and what didn't in your short-term rental business this year. It's also wise to examine how your experience as a short-term rental host compares to others in the industry. Today, I'm sitting down with David Jacoby, the President & Co-Founder, and Fred Bassili, the Marketing Manager of Hostfully, to dive into Hostfully's 2022 Vacation Rental Industry & Hospitality Report. On this edition of Get Paid for Your Pad, David and Fred join me to discuss the biggest trends in the short term rental industry in 2022. We discuss the challenges, and opportunities for STR hosts in 2022, including which types of properties are seeing an increase in revenue, and how hosts are increasing their income (without increasing their properties) and what the biggest pain points are across the board.  Listen in as David and Fred share the breakdown of the data from your STR competitors in 2022 and what hosts say they're planning for 2023. Topics Covered Which properties are seeing an increase in revenue (and which are not)Why the increase in the supply of STR properties is a good thing for your bottom lineThe biggest trends in STR portfolio growthWhy new streams of revenue are essential for Airbnb operators in this climateHow outside companies offering everything from locks to tours to furniture are making it easier for property hosts to upsellThe number one pain point that STR hosts faced in 2022 (for the 3rd year in a row)What's gotten easier for property hosts in 2022Why has accounting become a more significant issue in 2022Where are most STR hosts got their booking from in 2022The new trend in listings and attracting long-term staysThe most popular tools Airbnb hosts used to build their businesses in 2022Connect with David and FredDavid JacobyFred BassiliHostfully Resources 2022 Hospitality Industry Study - HostfullyUplevel the Experience for Your Guests with Minoan (Ep504)Get Paid For Your Pad on YouTubeSubscribe to GPFYP on Apple Podcasts FREE Airbnb Starter GuideEmail team@overnightsuccess.ioSponsored ByLegends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.

As COVID restrictions eased, 2021 proved to be a record year for most short-term rental markets. But did the trend continue in 2022? Which markets performed better this year? Which markets got softer? And what can Airbnb hosts expect in 2023? On this episode of Get Paid for Your Pad, guest cohost Anurag Verma, Cofounder of PriceLabs, joins me for a recap of the short-term rental industry in 2022, explaining how this year’s numbers compared to 2021 in various markets in the US and around the globe. Anurag describes how to calculate RevPAR and why it’s an important metric for STR hosts to understand, and we discuss why Airbnb’s new total price display policy was a positive change overall. Listen in for Anurag’s insight on the current pace of bookings for 2023 and learn how PriceLabs free market reports can help you analyze your portfolio and outperform the competition—no matter what’s happening in the market! Topics CoveredHow COVID continues to impact STR markets in some parts of the worldWhat the data says about how 2022 compared to 2021 for the short-term rental industryHow Airbnbs in cities performed in 2022 relative to drive-to destinationsWhy general occupancy, daily rate and length of stay all went down in 2022How to calculate RevPAR and why it’s an important metric for STR hosts to understandWhy Airbnb’s new total price display policy was a positive change overallWhat hosts can do to incentivize longer stays without charging a pricey cleaning feeWhy guests may be holding off on booking for summer 2023 (and why you shouldn’t lower your prices just yet)Why STRs in Europe had stronger numbers in 2022 compared to 2021The free market report functionalities available to hosts on the PriceLabs platformThe improvements to the pricing algorithm, data products and free tools PriceLabs is launching in 2023Anurag’s shameless plug for his new book, The Book Direct PlaybookResources  PriceLabsPriceLabs’ Market DashboardPriceLabs’ Portfolio AnalyticsAirbnb’s Total Price Display PolicyThe Book Direct Playbook: Say Goodbye to OTAs with Proven Marketing Tactics to Boost Direct Bookings by Mark Simpson, et al.GPFYP on YouTubeGPFYP on InstagramSTR Legends MastermindFREE Airbnb Starter GuideReview GPFYP on Apple Podcasts  Email team@overnightsuccess.io Sponsor Legends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

Reputation used to be the cornerstone of a brand, but now it's all about trust. Airbnb is great at doing trust marketing. People who go to Airbnb already trust the Airbnb brand, and they're looking to book. Now they are trying to determine WHO to book with.And that's where building your brand trust is crucial. You could be losing 50 bookings a year just because your profile isn't on point—and it's about more than just great property photos.So, how do you build that trust?Chris Maughan is the CEO & Founder of I-PRAC. An experienced operator in holiday and commercial rentals for 17 years, he's passionate about transforming the short-term rental industry to make it a safe place for hosts and travelers worldwide. He's also the CEO and co-founder of AES Accommodation Ltd and AES Events Group, which provides accommodations for companies like Google, Twitter, and Disney. Chris has written a chapter in the soon-to-be-released, The Book Direct Blueprint.On this edition of Get Paid for Your Pad, Chris walks us through the difference between trust marketing and product marketing and why trust marketing is vital in the short-term rental marketplace.We discuss how to get clear about your brand identity and the key components you can use on your Airbnb profile to establish an emotional connection with guests looking to book.Listen in as Chris shares how STR operators can showcase who they are as a trusted brand for more Airbnb and direct bookings.Topics CoveredWhy nobody is interested in your product on a first-time visitWhy so many hosts and property managers miss the point of their Airbnb profileThe two things you need to be clear on so you can communicate them effectively with your guestsHow to provide information about your brand that will help build emotional trust with your guestsHow to personalize your profile details that attract guestsHow to stand out on the Airbnb platform as a trusted brandWhy you can’t rely on booking platforms aloneHow to get more direct bookings by building trustHow I-Prac helps protect the consumer while allowing STR operators to showcase that they’re trusted and professional Connect with Chris MaughanChris on LinkedInI-PRAC Resources  How to Think Like a Brand Manager Instead of a Property Owner (Ep519)How Avant Stay Scaled Their Hospitality Brand to 1,500+ Units in Less Than 5 Years (Ep524)Get Paid For Your Pad on YouTubeSubscribe to GPFYP on Apple Podcasts Email team@overnightsuccess.ioSponsored ByLegends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.

The Liquid Death water brand charges $5 per can. Why are people willing to pay a premium for their product when there are so many other options?The secret is branding. And they’ve built a $700M company by telling a story that stands out from the competition.So, what can you do to be the Liquid Death of short-term rentals? How do you build a strong brand that allows you to charge a higher-than-average price for your Airbnb?Kaye Putnam is a psychology-driven brand strategist who helps brands uncover their innate brand advantage to attract more clients and customers online.Kaye is also the host of Brand Gravity, a podcast that explores the intersection between branding and psychology.On this episode of Get Paid for Your Pad, Kaye sits down with Eric and me to explain why STR hosts have more opportunities to tell our brand story than other types of businesses.Kaye discusses how to identify the brand archetype for your Airbnb business and why even individual hosts should be intentional about building a brand.Listen in to understand why unique brands can charge a premium for their product or service and learn how to create pricing power on Airbnb through your hospitality brand!Topics CoveredWhat inspired Kaye’s work as the psychology-driven brand strategistGetting clear on what you want to be known for and how to express thatWhy even small companies should be intentional about their brandHow STR hosts have more opportunities to tell our brand story than other businessesWhy identifying your brand archetype is the first step in building a brandHow to leverage your brand archetype as a decision-making toolKaye’s Brand Truth exercise for building an individual brand as an Airbnb hostWhat it means to create pricing power through your hospitality brandWhy the Liquid Death water brand can charge a premium for their productHow pricing power comes from being different vs. just being betterHow much Airbnb hosts should invest in building a hospitality brandWhy branding is becoming more important as the STR industry maturesResourcesKaye & CoKaye’s Brandality QuizHarvard Study on Purchasing DecisionsRoark Clothing BrandBrand ArchetypesLiquid DeathLiquid Death Branding ArticleBig Idaho Potato HotelSubscribe to GPFYP on Apple PodcastsFREE Airbnb Starter GuideEmail team@overnightsuccess.io Sponsor Legends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

Every short-term rental property is unique, and each guest values different property features when looking to book. Add to that travel trends are shifting quite dramatically right now, and it can be a gamble to rely on the data alone to set your pricing.So how can you use the data to increase your revenue without increasing your risk? John An is the Founder & CEO of TechTape, the Founder & President of Ohana Stay, and a short-term rental industry expert who consistently brings in returns at 20% to 50% above market. He's also written a chapter in the soon-to-be-released, The Book Direct Blueprint.On this edition of Get Paid for Your Pad, John walks us through his 3-step approach listeners can use to increase their Airbnb revenue.We discuss how to align your risk tolerance with your pricing strategy and nightly rate to achieve your goal occupancy level.Listen in as John shares his hands-on approach to combining data with human skill to increase your Airbnb revenue by as much as 15-30%.Topics CoveredJohn explains his thought process for revenue managementThe issue with the data in the STR industryWhat John looks at in the data increase revenueThe two ways to come up with your base priceWhat is the demand curveWhy pace is a more important data point than price when trying to increase revenueJohn will share the 3 step approach listeners can use to increase their Airbnb revenueWhy you need to determine your risk tolerance or that of the owner of the property you are managingWhere your risk tolerance aligns with your pricing strategyHow to use the nightly rate as the lever to achieve your goal occupancy levelHow to choose your time frames to establish an occupancy targetWhy it's essential to 'keep your hands on the wheel' when adjusting your pricing strategyWhy the holistic view can tell you just as much as your revenue about how your guest avatar is really responding to your propertyConnect with John AnJohn on LinkedInTechTapeResourcesThe Book Direct BlueprintHow to Pick Your Tech Stack for Your Short-Term RentalGet Paid For Your Pad on YouTubeGet Paid for Your Pad Email ListSubscribe to GPFYP on Apple PodcastsFREE Airbnb Starter GuideSTR Profit AcademyOvernight SuccessEmail team@overnightsuccess.ioSponsored ByLegends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.

We wish every stay would be perfect and every guest would check out ready to leave a 5-star review and secure their next stay. But this is the real world, and every host will eventually face a problem with a guest's stay. From a piece of equipment breaking down to another guest making it impossible for everyone to enjoy their stay, challenging situations come up that no one wants to have to deal with.But there are some secrets to navigating them that will make everyone involved feel supported. So how do you solve guest challenges when they come up, so everyone enjoys their stay? On this edition of STR Conversations, Eric and I sit down to discuss the event that happened at Freewyld this weekend, what it taught us, and the systems we're putting in place to handle these types of situations like this in the future. We’ll walk you through our 6-step process to deal with challenges that come up with guests while they are staying at your property while communicating with them in a way that makes them feel supported and then creating a system to deal with these situations in the future. Listen in to learn the key to providing a high level of hospitality to every guest, no matter the situation. Topics CoveredThe 6-step process to deal with challenges that come up with guests while they are staying at your propertyThe difference between making the situation right and being rightThe #1 thing to do when a problem develops with a guest or guestsWhy details matterHow to make both parties feel supportedThe key to providing an excellent experience for every guest, no matter the situationHow to communicate as a leader and provide high-level hospitality while making sure ALL parties feel supportedThe 3 traits you need to operate as a high-level hospitality hostWhy the problem is not solved until the guest says it is solvedHow to educate your team to deal with the problem in the futureHow you can use texts to document a situation for future referenceWhy it's important to remember YOU are a hospitality company firstWhat to do if a problem needs to be escalatedResources FREE Airbnb Starter GuideGet Paid for Your Pad Email ListSTR Legends MastermindSTR Profit AcademyOvernight SuccessSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.comSponsor Legends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

These days safety, security, and ID protection are paramount to everyone. That becomes even more important when booking the properties you've worked so hard to create or when you're in charge of someone else's investment.Risk management has become vitally important in the short-term rental industry.Leo Walton is the Co-Founder of Superhog, a company that enables a growing ecosystem of hosts, operators, and guests a safer booking experience. By providing a tech-based AI-supported toolkit, Superhog increases booking confidence by quickly confirming the identity of guests, protecting against fraud, damage, and crime, and providing unmatched protection in the STR industry.On this edition of Get Paid for Your Pad, I talk with Leo about why it's vital to screen your guests and the quick and straightforward guardrails STR hosts can put into place in the booking process to establish risk management for both hosts and guests.We discuss the types of protection Superhog provides, how the process works for hosts and guests, and how they compile the risk score.Listen in as he shares the critical elements of risk management needed in today's STR climate, and the protection option that 85% of guests prefer that improves the guest experience and garners more reviews. Plus, a special offer from Superhog just for Get Paid For Your Pad listeners.Topics CoveredHow to take charge of your own risk management strategiesThe most basic risk management solutions you need to put in place immediatelyHow Superhog pulls key data points together to compile a risk score, eliminate risks (and fraud)The three pieces of protection offered by SuperhogThe most critical component of risk managementHow to become your own insurance companyThe protection option that 85% of guests prefer that improves the guest experience while garners more reviewsThe most important component of risk managementHow to put a risk management strategy in place that works for you and your short-term rental businessThe best way to make a questionable booking safer during the check-in processSuperhog is offering 3 months free as an exclusive offer for Get Paid For Your Pad podcast listeners; go to: getpaidforyourpad.com/superhog Connect with LeoSuperhogSuperhog on LinkedInResourcesExclusive Offer: 3 Free Months of SuperhogThe Book Direct BlueprintGet Paid For Your Pad on YouTubeGet Paid for Your Pad Email ListSubscribe to GPFYP on Apple PodcastsSTR Profit AcademyOvernight SuccessEmail team@overnightsuccess.ioSponsored ByLegends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.