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

Plenty of markets have emerged as large players since the start of the Covid-19 pandemic. With the ability to work remotely, more people are expanding outside of major cities and looking for short-term rentals (STRs) in lower-traffic areas. So what are the top locations to invest in for rental property owners?Tia Castle is a real estate coach, crypto agent, and the Founder of CastleLux Rentals, a boutique vacation rental management company that focuses on family-oriented properties. On this episode of Get Paid for Your Pad, Tia returns to the show to join me in discussing the top markets where STR owners can get the best return on investment. We share our insights on articles from AirDNA, Realtor.com, Mashvisor, and Lodgify on where listeners should be looking for cash-on-cash returns in 2022. Listen in as Tia and I discuss why unique outdoor markets are thriving, how to add value to properties if the location is lacking, and which markets we believe may continue to be on the rise in the coming years. Topics CoveredTia’s experience briefly hosting and producing a lifestyle real estate TV showTia’s insights on articles from AirDNA, Realtor.com, Mashvisor, and Lodgify on the top places to invest in vacation rentals for cash-on-cash returnsWhy unique locations, like Hawaii and Alaska, are in high demand for STRsWhy Joshua Tree has emerged as a top market to invest in throughout recent years The importance of having “instagrammable” aspects of your STR locationsThe difference between a capitalization rate and a cash-on-cash returnTips for adding value to the properties that can raise their prices per nightConnect with TiaTia’s WebsiteTia on LinkedInTia on InstagramResourcesGet Paid for Your Pad Email ListLegends X Short-Term Rental AcceleratorSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.comCastle Lux RentalsTia Castle on EP442: From Masterleasing to Managing Short-Term Rentals in SarasotaMashvisor Article on Best Cash-on-Cash Return by CityLodgify List on Best Vacation Rental Property Markets in 2022 Hosted on Acast. See acast.com/privacy for more information.

On the last episode of STR Conversations, Eric and I spoke about why we gave our team a budget to book a unique stay on Airbnb. Now we’re back to tell you how it went. On this edition of STR Conversations, Eric and I recap our unique stays at Airbnbs over the weekend and discuss some of the biggest shifts in the STR (short-term rental) industry, especially in the Covid pandemic era. We cover current events in the industry, including OTA Insight’s acquisition of Transparent, Alpine Investors' acquisition of AirDNA, and WhyHotel’s recent venture capital raise and rebrand to Placemakr.We share our thoughts on WhyHotel’s unique business model and why AirDNA is the go-to data company in the STR space.Listen in to learn more about how the STR industry is growing and why it’s the best place to be.Topics CoveredEric’s experience staying at a boat Airbnb in San DiegoMy time staying at an Airbnb in the mountains in PanamaHow the offerings at an Airbnb, like amenities and a good view, can drastically change the price per nightOTA Insight’s acquisition of STR data company, TransparentPrivate equity firm Alpine Investors’ acquisition of AirDNAWhyHotel rebrands as Placemakr and raises $90 million in venture capital fundingHow Placemakr uses their business model to control the challenges with having long-term residents and short-term rentals in the same urban buildingsThe emergence of short-term and medium-term rentals creating space for hybrid business models within rental management companiesWhy the “trend is your friend” and STR markets will continue to trend up in the coming yearsThe lifting of many Covid-19 restrictions and what that could mean for the STR industryResourcesGet Paid for Your Pad Email ListLegends X Short-Term Rental AcceleratorSTR Legends MastermindSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.comAlpine Investors acquires AirDNA to enhance data solutionsOTA Insights Announces Acquisition of TransparentWhyHotel Rebrands as Placemakr, Announces over $90M in Equity Investment Hosted on Acast. See acast.com/privacy for more information.

The short-term rental (STR) industry is incredibly dynamic and always changing. If you are not constantly adapting as a business owner, you’ll get left behind. So how can you stay ahead of the game?Tim Mortimer is the Founder of the Australian-based STR company BNB Made Easy and the booking platform Book Orange. He has experience in the Legends X program and has doubled his number of properties since the beginning of the Covid-19 pandemic.On this episode of Get Paid for Your Pad, Tim joins me to discuss how he has managed to develop two strong businesses in the STR industry and why he prioritizes enhancing the guest experience outside the walls of each property. Listen in as Tim shares the importance of working with business coaches, implementing systems to maximize efficiency, and creating a strong company culture. Topics CoveredTim’s journey going from being a school teacher to owning his own businessHow to enhance the guest’s experience outside of the short-term rental propertyHow Tim was able to double his amount of units during the Covid-19 pandemicTim’s advice to STR owners looking to quickly grow their businessesThe importance of a creating and maintaining a strong company culture with core valuesThe benefits of working with a business coachImplementing systems into your business to maximize efficiencyThe importance of good communication with your guests, staff, and business partnersTim’s experience in the LegendsX programThe variety of business models in the STR industry and why there is no “best” way to run your business Connect with Tim Tim on LinkedInBook Orange on FacebookBook Orange on InstagramBNB Made Easy on FacebookBNB Made Easy on InstagramResourcesGet Paid for Your Pad Email ListLegends X Short-Term Rental AcceleratorSTR Legends MastermindSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.comBNB Made EasyBook Orange Hosted on Acast. See acast.com/privacy for more information.

Last September, Eric and I started building Freewyld, our new short-term rental brand. And to start, we took over an existing Airbnb business—four cabins on three acres in Idyllwild, California.What’s happened in the six months since then? What parts of our business plan have we executed? What unexpected challenges do we face? And what lessons have we learned along the way?On this edition of STR Conversations, Eric and I reveal what’s going well in our new venture and where we’re struggling, explaining why we’re focused on getting systems in place and building out the team.I describe what tools I’m using to manage the cabins remotely, and Eric shares the unforeseen challenges he’s facing on the development side of building Freewyld.Listen in for insight on marketing to prevent cancellations and learn our methodical approach to hiring new Freewyld team members to fill our greatest needs.Topics CoveredWhy we’re giving our team the budget to book a unique stay on Airbnb The existing STR business in Idyllwild we took over last SeptemberHow managing cabins remotely pushes me to be creative with guest communicationWhat challenges we’re facing on the development side of building Freewyld Why we're focused on getting our systems in place and building out the teamThe additional challenges of having 4 units on the same propertyHow we’re using marketing to prevent cancellations at FreewyldThe 2 ways to build an Airbnb business and why we’re taking the patient approachEric's methodical approach to hiring new team members for Freewyld Resources   Mammoth Lakes The Entrepreneur HouseJasper on InstagramEric on InstagramLoomRetrograde RetreatStay Awhile Cabins on InstagramFREE Airbnb Starter GuideGet Paid for Your Pad Email ListSTR Legends MastermindSTR Profit Academy Overnight SuccessSubscribe to 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.

Do you ever wonder what is the most efficient way to market to your guests? We’ll give you the answer: it’s email. Email marketing can seem daunting, but it’s actually a lot easier than you might think. Ryan Austin is the Co-Owner of Switchback Email, a company that provides professional email marketing consulting, services, and software. Arthur Colker is the CEO and Founder of StayFi, a platform that provides vacation rental WiFi and collects valuable guest data so STR hosts can drive repeat bookings.  Ryan and Austin work together between Switchback Email and StayFi and join me on this episode of Get Paid for Your Pad to discuss the ins and outs of effective email marketing. They discuss everything from recommended communication cadences and automation tools, to brand storytelling and ROI (return on investment). Listen in to learn more about why capturing guest emails and using them strategically leads to a much higher chance of them returning to your property in the future. Topics CoveredWhy capturing guest emails is crucial to ensure they stay at your property againHow Arthur created an easier way to capture guest data and drive repeat bookingsHow Ryan uses drip campaigns and location-based emails to offer a better experience and connection opportunity for guestsWhy email is the most efficient way to market to peopleThe importance of following permission and consent laws when creating email lists and campaignsHow to start with automation tools to gather advanced guest dataRecommended cadence for emails and touchpoints to guestsHow brand storytelling and location education can lead to higher click through ratesThe relationship between ROI and brand recognitionAutomated emails vs general marketing emailsArthur and Ryan’s tips for getting into email marketingConnect with Arthur Arthur on LinkedInStayFi on LinkedInConnect with RyanRyan on LinkedInSwitchback Email on LinkedInResourcesGet Paid for Your Pad Email ListLegends X Short-Term Rental AcceleratorSTR Legends MastermindSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.comStayFi – Use code PAD for 50% offSwitchback Email Hosted on Acast. See acast.com/privacy for more information.

How do you scale a short-term rental business? The answer seems obvious, right? You simply take on more and more listings.But adding listings willy-nilly is not sustainable. It turns you into a Hectic Host, and before long, you can't keep up with the demands of running a vacation rental business.So, what makes a hospitality brand both sustainable and scalable? What do successful STR operators do to grow their businesses the right way?On this edition of STR Conversations, Eric and I sit down to discuss the VOS system we teach in the Legends X program, describing where the framework came from and who it’s designed to serve.We walk you through the three pillars of VOS (vision, operations and scale) and explain why developing a brand identity and guest avatar serves as the foundation of the system.Listen in for insight on leveraging hands-on management to create extraordinary guest experiences and learn how the VOS system can help YOU scale a sustainable STR hosting business.Topics CoveredHow the pandemic inspired the development of the VOS system The 3 pillars of the VOS system—vision, operations and scaleWhat type of host the VOS system is designed to supportHow implementing VOS helped Tim Mortimer grow from 40 to 100 listingsWhy it’s not a good idea to scale a STR business without a clear visionHow having a vision for your STR business simplifies decision-makingThe elements of VOS Eric noticed at Retrograde RetreatThe benefit of marketing your brand to a specific guest avatarHow to leverage hands-on management in your Airbnb businessResources   Tim Mortimer The Spirit to Serve: Marriott’s Way by JW Marriott and Kathy Ann BrownRetrograde RetreatStay Awhile Cabins on InstagramThis Is Marketing: You Can’t Be Seen Until You Learn to See by Seth GodinFREE Airbnb Starter GuideGet Paid for Your Pad Email ListSTR Legends MastermindSTR Profit Academy Overnight SuccessSubscribe to GPFYP on Apple Podcasts Email jasper@getpaidforyourpad.com  Sponsor Legends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

Trying to grow a short-term rental (STR) company in a pandemic might not seem ideal, but the truth is that the industry is blossoming. Believe it or not, there are some tips and tricks that can help grow your business faster than you think. In the case of this episode’s guests, the number of properties increased by 300 percent just last year. Steven Suárez is the CEO of Argest Rentals, a full-service short-term rental management company. He is also the Co-host of Live Let Thrive, a podcast about Airbnb and the sharing economy. His business partner Federico Zimerman is the COO of Argest Rentals and extremely well-versed in the hospitality game, having flown over one million miles, to over 60 countries. Steven and Federico join me for the second time on Get Paid for Your Pad to discuss how they grew Argest Rentals from 15 properties to nearly 50 in 2021 alone. We chat about everything from finding new properties to the benefits and challenges of working virtually with teams of people across the world. Listen in to learn more about how Steven and Federico have structured their business during a large growth period, tips for hiring new people, and establishing trust with new clients that are fresh in the SRT industry.Topics CoveredBackground on Argest Rentals and how they grew their Airbnb’s from 15 to nearly 50 in one yearUsing Upwork to find quality employees for STR businessesUsing WhatsApp to communicate with business partners and teams across the worldThe biggest challenges Steven and Frederico faced as their company started growing rapidlyThe hardships and payoff of building a Virtual Assistant team to cover 24/hour business customer service The power of word of mouth and how Steven and Frederico used that to grow their business in 2021How to work with clients that are new to the industry and establishing trust with themBalancing running an STR business with having a full-time job and when it might be time to quit your full-time jobConnect with Steven and Frederico Argest RentalsArgest Rentals on InstagramArgest Rentals on FacebookEmail argestrentals@gmail.comResourcesGet Paid for Your Pad Email ListSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.comLearning Lessons from 2020 for Short-Term Rental HostsLive Let Thrive Podcast Hosted on Acast. See acast.com/privacy for more information.

Apply for Legends X at https://www.strlegends.com/x Hosted on Acast. See acast.com/privacy for more information.

Starting your own short-term rental business is probably not going to be an overnight success. So how can you stay motivated to put time into relationship building when you want to grow your business faster?For Jim Odom, it was an overnight success… after a grueling five-year start up period. Jim is the co-Founder of Unveiled Vacation Rentals and runs a property management company, Unveiled Short-Term Rental Management. He doubled the size of his business in January 2022, going from three properties to six, and recently hosted a workshop for over 350 realtors in his market.On this episode of Get Paid for Your Pad, Jim joins me to discuss the importance of bringing value to realtors and property owners in your market.He shares his unique approach to facilitating connections across multiple networks and how Facebook Groups can be an easy tool to do so.Listen in for Jim’s insight on how to quickly grow your network and transition those connections into valuable relationships for your short-term rental properties. Your business’s big break might be just around the corner.Topics CoveredJim Odom’s experience in the Legends X STR Accelerator programThe mutually beneficial relationship between realtors and STR ownersImportant first steps to consider when starting your own vacation rental businessFacilitating connection and bringing great value to those in your market’s networkUsing Facebook Groups to create an online connection network with stakeholders in your marketThe importance of showcasing your voice and authority in your marketConnect with Jim OdomUnveiled Vacation RentalsUnveiled STR ManagementJim on LinkedInResourcesGet Paid for Your Pad Email ListLegends X Short-Term Rental AcceleratorSTR Legends MastermindSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.com Hosted on Acast. See acast.com/privacy for more information.

Networking. Cold calling. Search engine optimization. There are a lot of ways to build your short-term rental business, but how can you succeed in B2B marketing without breaking the bank?On this episode of Get Paid for Your Pad, I sit down with Kimberly Thomas, Founder and CEO of Roam Vacation Rentals, to learn about her experience taking her Airbnb side hustle to the next level by starting her own property management services company.Kimberly dedicates her career to  helping real estate investors manage, scale, and market their STR portfolios. She started Roam Vacation Rentals to offer a wide range of STR management, design services, and consulting to help her clients maximize their return on investment.Listen in to understand the importance of implementing search engine optimization (SEO) strategies, acquiring referral sources, and working with the right people. It’s easier than you think!Topics CoveredKimberly’s experience owning Airbnb properties and growing them into her own businessThe importance of being able to connect with your guest avatarBuilding a consistent growth plan in the STR industryWhy using your personal network, cold calling, and cold emailing are crucial to gaining referral sourcesThe power of having thick skin in the face of rejectionTips for having a successful SEO strategySEO troubles and tips for ensuring you are hiring the right experts to help you optimize your website for searchKimberly’s biggest takeaways from being a student in the Legends X STR Accelerator programConnect with KimberlyKimberly on InstagramKimberly on LinkedInRoam Vacation RentalsResourcesGet a Free Property Income ReportGet Paid for Your Pad Email ListLegends X Short-Term Rental AcceleratorSTR Legends MastermindSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.com Hosted on Acast. See acast.com/privacy for more information.