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

"Even though 99% of retail happens on screens or shelves, those aren't where the real moments are. The real moments are in native settings."— Marc Hostovsky Thousands of advertising dollars are spent on Facebook, Google, and Instagram pop-ups and influencers to create meaningful moments with products.However, all of it still misses the mark on the end-user experience. Hosts have a lot of value in this attention economy, and they're not getting credit for it. But my guest is out to change that. Marc Hostovsky is the founder of Minoan, a platform where hosts can purchase furniture and amenities at a 30 to 60% discount and then make the items shoppable for their guests and earn a commission. On this episode of Get Paid for Your Pad, Marc joins me to talk about how his background in retail gave him the idea for Minoan. He'll walk us through Minoan's unique marketing partner relationship with some of the top brands in the home furnishings space. We discuss how to use higher-end furnishes and appliances to create a more cohesive look for your brand and a more unique (and memorable) guest experience—a win-win for both sides of the equation.  Listen in as Marc shares some of the brands they are currently working with, their plan for future expansion, and how working with them can change the economics of your STR business. Plus, Get Paid For Your Pad listeners can get a $25 credit for signing up with Minoan today!Topics CoveredWhat's the fastest‌ growing segment in hospitalityMarc walks us through how the idea for Minoan clicked for himWhere you should invest in the higher quality furnishings for your rental spacesWhere the best product experiences happen for consumersThe value of STR hosts in the 'attention economy'The benefits for brands to have items in your rental propertyThe 2 biggest benefits of working with Minoan to furnish your STR listingsHow the commission structure works for hosts partnering with MinoanConnect with Marc HostovskyMinoanMarc on LinkedInResourcesGet a $25 Credit on Your First Order with MinoanLegends X STR AcceleratorGet Paid for Your Pad NewsletterSTR Legends MastermindEmail jasper@getpaidforyourpad.comSponsored ByLegends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

The STR industry is changing. With more investors, bigger companies, and new laws cropping up daily investors (like us) are asking what the best way is to scale? For us, the answer is turning our focus to buying properties you can legally run as short-term rentals forever. The biggest opportunity in our industry right now is acquiring old vacation rental communities to convert into modern short-term rental experiences.But how does the process for acquiring these properties work? On this episode of STR Conversations, Eric and I discuss why the next natural phase in the STR business is acquiring boutique hotels. We'll walk you through our search for the 'right' property, how we found the property we are working on acquiring, and the features that make this hotel perfect for adding to the Freewyld portfolio. Tune in as we discuss the steps in the hotel purchasing process. We share the scenarios and analysis process we used to develop our offer, how the due diligence process works, and what we're learning through this transaction. Listen in to learn the most important things to keep in mind when working deals to purchase hotel properties. Plus, a behind-the-scenes look at how we plan to integrate this property into our Freewyld brand.  Topics Covered The big shift in the current real estate market that's increasing investment buying powerWhy it's vital to look at now but also look ahead when investing in STR propertiesHow we used the property abundance plan to build the relationships that led to this opportunityThe 2 BIG perks with this property for immediate cash flow and next-level income for our brandThe benefits we offered to the seller to make the transaction go smoothly on both sidesHow this purchase will affect our staffing needs (hint: we'll remain 100% remote)The most critical aspects of due diligence when working bigger deals like theseWhat the numbers for this property look like now vs. the potentialWhy markets where you can maintain higher occupancies are the biggest opportunity for STR investors right nowResources  Legends X Short-Term Rental AcceleratorSTR Legends MastermindGet Paid for Your Pad NewsletterSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.comSponsored ByLegends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

Online Travel Agencies (OTA) spend millions in marketing and advertising to drive online searches to their websites. A great thing for STR hosts. Or is it? It’s dangerous to have all your STR hosting business on a site you don’t own. But it can be just as risky to go 100% in direct bookings. So how can you be sure you have a healthy mix of OTA and direct bookings? And how can you drive more direct bookings to expand your brand? Mark Simpson is the founder of Boostly and the host of The Boostly Podcast. As one of the top consultants in the STR industry, Mark has worked with thousands of hosts to help them increase their direct bookings and build better websites and marketing campaigns. On this episode of Get Paid for Your Pad, Mark joins me to walk us through how to diversify your bookings to maximize your income. He’ll walk us through the 3 main strategies you can use to drive your guests to book with you directly, plus ways to use the personalization options on Airbnb to boost your brand and your direct booking book of business. Listen in to learn how to make the visibility of the OTA booking sites work for you instead of against you and why it’s vital to build your STR business on ‘your own land.’ Mark shares how you can find out your direct booking marketing score for FREE, plus an opportunity for one of our listeners to win a personalized marketing consultation! Topics Covered Why you need a healthy mix of direct and OTA bookingsHow to make the visibility of the OTA booking sites work for youThe biggest mistakes hosts make when they start with direct bookingsHow to use your Airbnb listing to engage bookings on your brand’s booking websiteThe one question to ask your former guests to land more bookingsFREE ways to use social marketing in your niche for more visibilityWhen to use OTA and when to use direct bookings in your STR hosting journeyHow to find out your direct booking score Connect with Mark SimpsonBoostlyMark on InstagramResourcesFind Out Your Direct Booking Marketing ScoreKristen and MichaelHow To Use Email Marketing To Drive Bookings (EP. 332)Legends X STR AcceleratorGet Paid for Your Pad NewsletterSTR Legends MastermindEmail jasper@getpaidforyourpad.com Hosted on Acast. See acast.com/privacy for more information.

In this influencer-fueled world, we are constantly told that we must hit certain milestones to be a 'real business.' But the truth is, out of the 28 million companies in the United States, only 4% ever reach $1 million in revenue. And from there, only about 1 in 10 makes it to $10 million in revenue. Scaling requires an intentional focus on the "four major decision areas every company must get right: People, Strategy, Execution, and Cash." So, how can you scale your STR business and achieve the growth you envision? We've just started reading Scaling Up: How a Few Companies Make It...and Why the Rest Don'twith the STR Legends Mastermind, and it's already been influential for our team. For the next four months we will devote an episode of Get Paid For Your Pad to going through the book's different sections, "People, Strategy, Execution, and Cash." On this episode of STR conversations, Eric and I share some of our key takeaways from the people section of Scaling Up. Listen in for an overview of such topics as the difference between a good manager and a great manager and how to hire the right people for every role on your team and then help them play to their strengths and grow. We share what an A-player is and what they bring to your team. Plus, the one thing that will make or break the success of every aspect of your company. Topics Covered  Why you need to get clear on exactly how many listings YOU need to get to where YOU want to goWhy it's so important to solve your team management issues in the beginningHow Scaling Up can help your business no matter what stage you are inThe most important aspect of scaling your businessHow big your team really needs to beWhy it's so important to step up as a leader in your company to scaleThe 2 most significant tests each member of your team needs to passWhat slows down the growth of a companyHow many people have to apply for your position before you find your A-team playerThe key to hiring A-players at every level of the companyWhy accountability will make or break the success of your companyHow to determine if your strengths as a leader are hindering your company's growthResources Scaling Up: How a Few Companies Make It...and Why the Rest Don'tTraction: Get a Grip on Your BusinessThe Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful BusinessesFREE HOST ASSESSMENT: Grow Your Airbnb BusinessAPPLY NOW for the Legends X STR Accelerator class beginning October 17!FREE Airbnb Starter GuideSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.comSponsor Legends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

"In the summer of 2014, we were in Vegas, trying to figure out how to sell more books, so we decided to start a podcast. We bought a mic and messaged a host we knew to interview for Episode 1."—Jasper Ribbers That impulsive decision led to the long running Get Paid For Your Pad podcast, with over 1.3 million downloads. Today we are celebrating a milestone—the 500th episode! On this edition of STR Conversations, Eric and Jasper are switching seats, with Eric talking over the mic for an interview with Jasper. From the "Traveling Dutchman" travel blog to the Get Paid For Your Pad book, Jasper shares his journey to the successful Get Paid For Your Pad podcast.  Listen in for a glimpse behind the scenes of the podcast, the biggest challenges on the journey to Episode 500, and the #1 key to the show's success. From the mom-and-pop hosts to the biggest titans in the industry, Jasper shares his favorite episodes and the life changing lessons he's learned from his guests along the way. Plus, he shares the story of Brian Chesky's famous tweet about the catchy Get Paid for Your Pad jingle and why it's here to stay! Listen in to this inspirational episode for tips on how to grow your influence and establish yourself as an expert in your own market. Are you a longtime listener of the show? We'd love to hear from you! Let's surprise Jasper with some new reviews to celebrate the 500th Episode of Get Paid For Your Pad! Topics Covered Why consistency always beats experience in the race for successJasper shares his podcasting journey and the lessons he's learnedThe #1 reason for the success of Get Paid for Your PadThe impact of the podcast in terms of Jasper's influence in the STR spaceWhy consistency is the key to leadership and influenceThe future plans for the Get Paid for Your Pad bookThe powerful lessons we can learn from the sharing economy spaceThe key to successful leadership and influenceThe 3 most important tenets of bringing value to your audienceHow to grow your sphere of influenceResources Get Paid For Your PadEP024 Airbnb's Head of Hospitality Chip Conley, Divulges His Best Advice for Airbnb HostsEP175: How to Integrate Airbnb in Your Real Estate BusinessEP186: This Week in the World of AirbnbFREE HOST ASSESSMENT: Grow Your Airbnb BusinessAPPLY NOW for the Legends X Short-Term Rental Accelerator class beginning October 17!Subscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.comSponsorLegends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

The Airbnb industry is evolving, and, with it, so are the visions STR hosts hold for their businesses. Gone are the days of throwing up any listing and expecting success. The industry has changed. There is a lot more education available, offering new ways for hosts to learn what is possible for them and the business they want. Before each Legends X Short-Term Rental Accelerator class, Eric spends his time on the phone talking to potential participants about what they are looking for to take their business to the next level. So, who are the up-and-coming hosts of today, and what are STR business owners seeking to sustainably grow their business to the next level? On this edition of STR Conversations, Eric and I sit down to discuss the 3 biggest things applicants are seeking for their business when applying for the Legends X program. We walk you through how our VOS system helps participants in the class get clear on what they want and then implement it to build a sustainable business. We’ll talk about what areas of hosting entrepreneurs are moving away from and offer insight into the new and exciting niches hosts are exploring in order to offer world-class experiences to their guests.  Listen in for a preview of the Legends X program and learn how the VOS system can help YOU transition from STR host to hospitality business operator. Plus, you can now get our Host Assessment, part of Legends X, for FREE! Want to be a part of the next Legends X Short-Term Rental Accelerator class beginning October 17? Apply NOW! Topics Covered Why there is such a massive uptick in the Airbnb and hospitality industryThe 3 things Legends X applicants are seeking for their businessesWhat are the new and popular niches in the STR Airbnb spaceThe 3 areas we focus on in Legends XThe biggest challenge of creating the business you envision Why the transition from Airbnb host to a hospitality business operator pays such huge (all around) dividendsHow we determine who is coachable and ready for Legends XThe amazing mindset transitions we’ve seen through the Legends X courseOur #1 goal for every person who takes part in the Legends X Short-Term Rental Accelerator class Resources FREE HOST ASSESSMENT: Grow Your Airbnb BusinessAPPLY NOW for the Legends X Short-Term Rental Accelerator class beginning October 17!Good to Great: Why Some Companies Make the Leap and Others Don't2022 Vacation Rental Management Association Conference   Email jasper@getpaidforyourpad.comSponsor Legends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

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You want to drive more bookings for your Airbnb properties at a higher revenue. To do that, you know you need to create experiences that will connect with your guest avatar and are cohesive to your brand.But before you start renovating, you need to understand what the ROI will be and if the money you spend be worth it for your bottom line and the guest experience.So how do you create a budget for the guest aesthetic you seek and still make a profit?On this episode of Get Paid for Your Pad, Eric and I walk you through the questions you need to ask before you begin to make your renovation budget.We'll walk you through all the small details you need to consider when determining which elements to select to assure you are creating the experience your guest is looking for when they book your property.Listen in for insight into how creating world-class experiences can help you justify higher prices. Plus, how to cultivate the same experiences the big hoteliers do by focusing on the five senses.Topics CoveredWhy the discovery phase is the most challenging part of budget planningThe first question to ask when making your renovation budgetHow to use AirDNA to compare to the top performing units in your marketWhat you need to look at to determine what will create the experience your guest is looking forHow to cultivate the ‘every detail matters’ experience of big hotels without their budgetThe most crucial factor in determining your renovation budgetWhy your brand is just as valuable as the real estate you build it onHow to put together a vibe or lookbook for your interior designerHow creating world-class experiences can help you justify higher nightly pricesResourcesSpirit Line Cabin Between Alma & BreckenridgeAirDNARentedScaling Up: How a Few Companies Make It...and Why the Rest Don'tLegends X Short-Term Rental AcceleratorSTR Legends MastermindSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.comSponsored ByLegends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

Wouldn't it be great to be able to operate your STR business from anywhere while you travel and explore the world?True freedom is being able to operate your business from anywhere you are or feel like waking up in the morning. But is that really possible? And if so, what are the pros and cons?Sean McGregor is the Chief Experience Officer at Stay Work and Play. A digital nomad, Sean loves working remotely while traveling with his family. He's an Airbnb Superhost with over 2500 reviews and a 4.96 overall rating. His hosting story appears in the book Hospitable Hosts: Inspiring & Memorable Stories From Airbnb Hosts Around The World To Educate & Motivate.On this episode of Get Paid for Your Pad, Sean joins me to discuss how he turned his STR business into a lifestyle business hosting remotely with property owners all over the country—most he's never even met in person.Listen in as Sean shares how his business took off after he completed Legends X. He'll walk us through the tips and tools he learned from the program that have helped him hold fast to the goal he lives by for his digital nomad family and his ambitious host oath.Plus, the business hacks he uses so that anyone on his team can successfully replace him in the day-to-day of running his STR business.If you're interested in growing your business, we have a few spots in our next Legends X STR Accelerator class. Don't wait—Apply Now! Plus, our new FREE training: The Step-By-Step Plan for Scaling Your Airbnb Business to $1M and Beyond.Topics CoveredThe hacks Sean uses to put his business on autopilot so that he can live location independent with his family2 processes Sean put in place to achieve his high bar host oathWhy putting yourself into a traveler's mindset will help you deliver the best guest experience possibleHow he overcame the challenges of renting places he's never seenThe two-pronged discovery process Sean uses to ensure his guests leave a 5-star reviewHow he's addressing owner issues while smoothing things out for his teamWhy Sean thinks his location anywhere lifestyle has helped him work with more ownersThe #1 thing that helps him stay prepared for the curveballs that come up in his STR businessWhy his goal is to help other STR hosts become digital nomadsConnect with SeanSean on LinkedInResourcesScaling a Remote Co-Hosting Business While Maintaining a 5-Star Guest with Sean McGregor (Ep390)The Step-By-Step Plan For Scaling Your Airbnb Business to $1M and BeyondHospitable Hosts: Inspiring & Memorable Stories From Airbnb Hosts Around The World To Educate & MotivateEmail jasper@getpaidforyourpad.comSponsored byLegends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.

Accountability is what drives results in your personal life, for your health goals, for your teams, and especially in your business.Accountability is everything for scaling a business. It's also one of the biggest things that can hold STR entrepreneurs from reaching their goals. Most of the hosts we talk to want to grow in their business, but they're stuck in the same spot, experiencing the same challenges over and over because they haven't created accountability within their team. So how do you add layers of accountability to your business and team dynamic? On this episode of Get Paid for Your Pad, Eric and I share some ways we've used accountability in our own lives to reach our personal and business goals. We'll walk you through how we use layers of accountability in our businesses, with our team, and in the Legends X program so you can reach your STR business goals much sooner. Plus, why pain points are an excellent motivator for results. Listen in for insight into why we operate Legends X with the philosophy of 'what do they need, not what do they want' and how that's led to a 98% success rate and more extensive results in a smaller time frame for the STR hosts in the class. If you want to be held accountable by us and our program, apply today for the next class of the Legends X Short-Term Rental Accelerator. Topics Covered Why accountability should be at the forefront of decision-making in your lifeHow a lack of focus can impact all areas of your lifeThe 3 things you need to make accountability workEric shares how accountability played an enormous role in his weight loss journeyWhy daily check-ins are vital to holding you to your goalsWhy pain points are an excellent motivator for achieving higher-level resultsHow layering accountability builds bigger results3 ways to use your project management tools for more measurable resultsWhy checking in with all levels of your team assures you're all rowing in the same directionWhy we added check-ins to the Legends X program to help participants complete their action items in a shorter time frame (for better results)Why we have a 98% success rate with Legends X Resources  Get Paid for Your Pad YouTube Channel75 HardLegends X Short-Term Rental AcceleratorSTR Legends MastermindSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.comSponsored ByLegends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.