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

As Airbnb entrepreneurs who help people start and scale their own short-term rental companies, you may be surprised to hear that, right now, we don’t think you should start a STR business.You should buy one.There's value creating your own hosting business. If you’re brand new to the industry, it’s a good place to start.But if you’re an experienced host with funding, you can create wealth by taking over another business and increasing its value. So, what does that look like?This episode of Get Paid for Your Pad, Eric and I sit down to discuss the opportunities we see in buying an Airbnb business rather than starting one from scratch.Listen in for insight on where to find vacation rental businesses to buy and learn how YOU can acquire and then increase the profits of existing Airbnbs!Topics Covered Why we’re taking over an existing Airbnb businessSave money on operations to increase profitsImprove guest experience, property valueEric’s insight on raising money through investorsAll based on NETWORKInvest in PEOPLE and IDEAS What investors are looking forRule of 7 (7% return doubles $ every 10 years)Strong relationship makes risk manageableEric’s advice to someone who doesn’t have a networkFocus on one social platform, e.g.: LinkedInSurround self with people in industryBe patient STR market opportunities Management model to generate cashflowScale quickly and bring investors into pipelineBuy older STR businesses in secondary marketsHow to find existing vacation rental businessesChoose market carefullyBecome part of community (network)Share your vision, ask for properties Resources Rich Dad Poor Dad by Robert T. KiyosakiThe Psychology of Money by Morgan HouselSonderZillowVrolioAirDNAVacasaHicksville Trailer PalaceOvernight SuccessReview Get Paid for Your Pad on Apple PodcastsLegends X STR AcceleratorSTR Legends MastermindEmail jasper@getpaidforyourpad.com Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

As short-term rental hosts, we ALL want to build a listing that stands out from the competition. And we know that having the right photos is crucial in getting prospective guests to book.But what if you’re not a professional photographer, and you don’t have the money to hire one? Can you still take gorgeous listing photos if it’s just you and your smartphone?Kati and Brian Greene are the Cofounders of Overlooked 2 Overbooked, a service that helps hosts optimize their listings to attract their ideal guests at optimal prices.On this episode of Get Paid for Your Pad, Kati and Brian join me to share their top tips for taking photos of your property and describe how to choose the best ‘magnet photo’ for your listing.Kati explains the optimal way to order photos in an Airbnb listing and Brian discusses how to take your listing to the next level by including experience shots.Listen in for insight on using guest reviews to improve your listing and learn how Kati and Brian can help you build a listing that beats the competition!Topics Covered Overlooked 2 Overbooked’s virtual photo shootTeach host how to operate smartphone camera Guide through taking photos for listing on video chat Kati’s top tips for taking photos for your listingLower camera to waist level and lift gazePoint camera parallel to floor (not down at furniture)Use rule of thirds for exterior shotsHow to choose the best magnet photo for your listingReview thumbnail photos of listings ranked above youChoose image that stands out from competitionHow to appeal to your prospective guest’s lizard brainUse contrasting colors, include fun in photosMake guest trust you and feel safe in spaceThe optimum way to order your photos in an Airbnb listingStart with 5 best or most interesting featuresFollow up with room-by-room tour of propertyWide angle shot of room first, then detail shots Brian’s advice on serving as an ambassador of your townAsk why people visit and what’s cool about areaBecome concierge or expert re: local activitiesHow to use guest reviews to improve your listingUse guest comments for insight on what to featureCaption photos with quotes from reviewsHow to take your listing photos to the next levelSet up vignettes of experience guest might haveExample—people enjoying s’mores in fire pit Connect with Kati & BrianOverlooked 2 OverbookedFree Listing Assessment Resources Kati & Brian’s eBookColor WheelLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

In a recent interview with Skift CEO Rafat Ali, Brian Chesky predicted a near-future revolution in travel. A revolution that presents a big opportunity for short-term rental hosts.As more companies offer employees the option to work remotely, Chesky believes people will take advantage of the flexibility to travel. This will increase demand for STRs, especially in secondary markets.On this episode of Get Paid for Your Pad, Eric and I discuss the biggest opportunity we see right now in short-term rentals, describing how we’re finding older vacation homes in drive-to destinations and converting them into unique STR experiences. Listen in for insight on the benefit of investing in real estate for Airbnbs and learn how to upgrade an older STR property—without losing sight of what makes the local area special!Topics Covered Key takeaways from the recent Brian Chesky interviewPeople won’t go back to working in offices full-timeAffords much more flexibility to travelOpportunities for STR hosts in this revolution of travelFind older vacation homes in secondary marketsConvert into unique, modern STR experiences Why we’re investing in properties in secondary marketsFinancial decisions shaped by experience of COVIDPeople want to travel AND live there (can sell later)What short-term rental guests will need moving forwardFast internet, workspace for remote officeOption to disconnect and be in nature Approach to upgrading older STR propertiesImprove experience (e.g.: smart locks, guidebook)Highlight what makes local area specialBenefit of investing in real estate for STRsOwnership affords opportunity to build wealthMoney in properties as hedge against inflation How the Get Paid for Your Pad podcast is changingMondays focus on small hosts (Airbnb101)Wednesdays about managing STR business at scaleFridays we share journey building hospitality brand Resources  Brian Chesky: Travel RevolutionRemote Work at BufferAirDNAThe Psychology of Money: Timeless Lessons on Wealth, Greed and Happiness by Morgan HouselStrawberry Creek VillageSonderLyricStay AlfredLegends X STR AcceleratorGet Paid for Your PadEmail jasper@getpaidforyourpad.com Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

If you want your guests to delight YOU with five-star reviews, return visits and referrals, then you need to delight them first by delivering the unexpected.But what, exactly, does that look like? How can Airbnb hosts WOW their guests in every step of the short-term rental journey?J.T. McKay is the author of Airbnb on Autopilot: Save Time and Boost Profits for Your Vacation Rental. J.T. has been investing in real estate for over 25 years, and he currently operates 10 vacation rental units in Gatlinburg and Pigeon Forge, Tennessee.On this episode of Get Paid for Your Pad, J.T. joins me to discuss how to delight your Airbnb guests by delivering the unexpected, beginning with becoming a story-seller in your listing.J.T. offers advice on building a personal connection through your house manual and automating guest messaging with authenticity.Listen in for J.T.’s insight on WOW-ing your guests during their stay with selfie props, QR codes and V.I.G. (Very Important Guest) discounts to local restaurants and attractions!Topics Covered What makes Gatlinburg/Pigeon Forge a popular STR market‘Vegas for families’ (amusement parks, dinner theatre, etc.)Attracts outdoor enthusiasts for hiking and fishing How to delight prospective guests with your Airbnb listingBecome story-seller and make future guest heroShows respect for space, attracts idea guestHow to delight your guests through your house manualInclude information about YOU to build personal connectionInfuse with personality and fun, pay attention to design Share restaurant recommendations and area info Shoot short how-to videos (e.g.: electronic lock, thermostat)How to automate guest messaging with authenticitySend first morning check-in messageUse customization tags (include guest name)Consider recording custom welcome videosJ.T.’s tips for delighting your guests once they’re in your unitProvide basket of selfie props, incentivize sharing on socialLeverage QR codes for connecting with info quicklyOffer USB charging outlets and Bluetooth speakersShare V.I.G. discounts to local restaurants and attractionsGive away free swag (i.e.: mugs, pens, cookbook PDF) Connect with J.T. J.T.’s Website Airbnb on Autopilot: Save Time and Boost Profits for Your Vacation Rental by J. T. McKay Email jt@jtmckay.com  ResourcesLoomYou on NetflixLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  SponsorHostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

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It’s your job as an Airbnb host to understand the struggles your guests might face and set them up for success. But what if your guests are international tourists who don’t speak the local language? How can you create a multilingual short-term rental to serve guests from anywhere in the world?Tracey Northcott is the Founder and Owner of Tokyo Family Stays, a vacation rental property management company based in Tokyo, Japan. Tracey is also the Guest Experience Specialist behind Tracey Northcott Consulting, a firm dedicated to helping other hosts improve their hospitality standards and maximize STR profits.On this episode of Get Paid for Your Pad, Tracey joins me to discuss how to set up a multilingual Airbnb, describing how she attracts large extended families of inbound tourists to her properties in Tokyo. Tracey shares her strategies for supporting guests who don’t speak the local language, explaining the benefits of providing infographics and professionally translated information.Listen in to understand why Google Translate is not good enough and get Tracey’s top tips for anticipating the needs of your international guests!Topics Covered Tracey’s ideal guest at Tokyo Family StaysInbound tourists or Japanese people who lived overseasLarge extended families (don’t exclude based on language) What to think about as the host international guestsWhat’s common for you not standard across worldMeet people where they are, provide tools for successRecognize common humanity of allHow Tracey serves guests who don’t speak the local languageInfographics for toilets, kitchen appliances and HVAC unitsHouse rules, trash/recycling info in multiple languagesThe benefits of providing infographics and translated informationSave time and stress fielding calls or fixing broken itemsGuests feel welcome and leave 5-star reviewsWhy Tracey suggests hiring a human translator over free appsNot too expensive, supports another small business ownerGoogle translate = unprofessional and not welcomingTracey’s tips for anticipating the needs of international guests Curated links to local recommendations and list of FAQsStep-by-step instructions for getting to STR property Connect with TraceyTokyo Family StaysTracey Northcott ConsultingTracey on Instagram Resources Tracey’s Listings on AirbnbLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD]   Hosted on Acast. See acast.com/privacy for more information.

Yes, we learn a lot from personal experience. But smart short-term rental hosts also learn from each other.We take advantage of our peers’ and predecessors’ experiences, implementing best practices from the very beginning.Koryn Okey is the Vice President of Client Experience at Breezeway, the leading property operations and services platform for short-term rentals. Prior to joining Breezeway in 2017, Koryn spent seven years as Director of International Accounts at FlipKey. On this episode of Get Paid for Your Pad, Koryn joins me to explain how the FlipKey model differed from that of Airbnb and explore what gives Airbnb the brand recognition it enjoys today. Koryn offers advice on optimizing your property listings, and we discuss when hosts should start using a tool like Breezeway to manage their STR portfolio.Listen in for insight on investing in tech early on in your Airbnb business and master Koryn’s top three habits of highly successful STR hosts!Topics Covered What differentiated the FlipKey model from AirbnbHost paid per lead vs. percentage of bookingGet guest contact info, communicate directly Koryn’s advice on building a listing for your STRAsk friends for honest feedbackCompare to other listings in market How Koryn thinks about choosing a lead photoConsider why guests coming to your marketPick image to stand out from competitorsWhat made Airbnb more successful than FlipKeyFocus on urban markets, young travelersMind for design = user-friendly siteHow Breezeway technology serves STR hostsOperations and guest services platformEnsure space clean, functional and safeWhen hosts should consider tools like BreezewayAny time manage listing(s) remotelyEssential once responsible for 5 propertiesThe benefit of implementing tech right awayLeverage best practices from beginningEfficiency gains, avoid mistakesKoryn’s top 3 habits of highly successful hostsInvest in technology early onBuild community (learn from others)Know what’s happening in industry Connect with Koryn BreezewayKoryn on LinkedInEmail vip@breezeway.io  Resources FlipKeyJeremy Gall on Get Paid for Your Pad EP387Breezeway’s STR Inspector CourseLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

On Monday, September 20, the US government announced that it is lifting its Covid-related ban on international travel starting in November.The new rules allow entry for vaccinated visitors from the EU, India, China and 30 other countries deemed high-risk back in March of 2020 when the ban went into effect.So, what does this mean for you and your Airbnb business?On this episode of Get Paid for Your Pad, Eric and I discuss the details of the March 2020 travel ban and describe how lifting it is likely to impact the US short-term rental market.  We look at the AirDNA report comparing STR demand in August of 2019 with August of 2021, exploring why domestic travel compensated for the loss of foreign tourists in North America—but not Europe.Listen in for insight on the increasing demand for unique Airbnb stays and larger properties and find out what recovering lead times means for your hosting business!Topics Covered The travel ban that went into effect in March 2020Travelers from EU, China and other high-risk countriesCannot enter US if from/touch ground in last 2 weeks How the rules are changing in early NovemberBan lifted for vaccinated travelersMust also have negative COVID test Why we predict a spike in travel to the US once the ban liftsEU and China huge market for Airbnb hosts in USUrban areas likely to benefit most AirDNA’s stats comparing STR demand in August 2019 vs. 2021North America down just 2%, Europe down 25%Easier to drive through states vs. countriesThe increasing demand for unique short-term rental staysUp 31% in France over last 2 yearsFarm stays, tiny homes and castles most popularWhy larger properties are recovering better than small onesTravelers bring friends/family, create own experienceOpportunity to relax and disconnect from chaosWhat recovering lead times mean for Airbnb hostsBack up to 60 days in many marketsShift in pricing strategy, increase in general demand Resources ‘After Months of Bans, Fully Vaccinated Travelers Will Be Allowed to Fly to the US’ on NPRTrump’s March 2020 ProclamationVacation Rental World SummitAirDNAAirDNA’s Report for the Vacation Rental World Summit2021 VRMA International ConferenceCampfireEric on TikTokEric on InstagramLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

You might be surprised to hear that the most downloaded episode of Get Paid for Your Pad so far this year is a show about systems. While operations is not the sexiest aspect of running a short-term rental business, it may be the most important.So, what is involved in building out the operations for an Airbnb business? And how does creating systems benefit you as a host?On this episode of Get Paid for Your Pad, Eric and I sit down to discuss the ideal operations to scale your STR business, describing how to identify the most efficient processes and save time and brain power. We explain why it’s crucial to write down everything you do for your vacation rental business and offer advice on how to start the documentation process.Listen in to understand what STR operators can learn from McDonald’s and find out why focusing on operations is the prerequisite to scaling your Airbnb hosting business! Topics Covered The 3 things you need to grow an Airbnb businessVisionOperationsScale   What we mean by the term operationsGoes beyond tech tools for automationDocument processes for every task Why it’s crucial to document your operationsEasy to hand off tasks to team membersTakes you out of business asapGives you option to sell business in future  Why we’re documenting every step of our STR takeoverUse as blueprint for future acquisitionsSmooth transition from previous owner The benefit of documenting systems from the get-goForces to create most efficient processSave time and brain power on repetitive tasksOur advice on how to start the documentation processStart with voice notes or Zoom videosTransfer to spreadsheet or document laterWhat to ask yourself as you refine your STR systemsCan I remove steps from this process?How do I simplify this system?How a STR business is like a McDonald’s franchiseGet clear on vision and build operationsMaintain brand standard in multiple locations Resources Eric on TikTokEric on InstagramHow Systems Make Your Life Easier as an Airbnb Host on GPFYP EP376Overnight SuccessThe FounderLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

Are you still trying to do it all yourself in your short-term rental business? If you’re afraid to be away from your phone even for a few minutes or worried that you forgot to follow up with a guest, it’s time to consider hiring a virtual assistant or two—before you burn out!So, what do you need to know about hiring VAs? How can they help you scale your STR hosting business?Kim Herrlein is the founder of Purveyors of Leisure, a short-term rental management company headquartered in the Coachella Valley of California. Kim’s team focuses on large group travel, combining the comfort of a vacation rental with the luxury of resort-style concierge services.On this episode of Get Paid for Your Pad, Kim joins me to explain how hiring virtual assistants has been a game changer for her Airbnb business, describing what her VA team does and how she trained them.  We discuss the common misconceptions around hiring Filipino VAs, and Kim describes the advantages of hiring virtual assistants through an agency like Sphere Rocket or Virtual Staff Finder.  Listen in to understand how hiring VAs has helped Kim transition from Hectic Host to Rising Star and find out how YOU might benefit from adding the services of a virtual assistant to your STR team. Topics Covered How Purveyors of Leisure caters to large group travelBoutique hotel with 6+ bedrooms on private resortHost weddings, retreats and corporate meetingsHost on the ground available from 9am to 9pmOffer concierge services, e.g.: private chef, massage Why Kim hesitated to hire a VA for her STR businessQuestioned that there’d be enough work for VAWasn’t organized enough to hand tasks overThe benefits Kim sees from hiring a team of VAsFresh eyes on business, implement new ideasVAs do guest communication so Kim can unplug Kim’s unique approach to training her virtual assistantsShare recurring questions + create own cheat sheetStudy for 2 weeks before communicate with guests What Kim is focusing on now that she’s built a VA teamIdentify new properties to expand portfolioDesign work and project managementWhy Kim recommends hiring VAs through an agencyGet help with hiring process, contracts, etc.Educates you on how to best use VA’s skillsThe projects Kim’s VAs are leading in her STR businessCreating social media marketing planBuild email list for existing guest outreachThe most common misconceptions about hiring Filipino VAsDon’t speak English well, can’t do complex tasksBeing taken advantage of with low wagesKim’s advice to hosts on working with virtual assistantsGive sense of ownership and autonomyCheck in regularly and ask for feedback Connect with Kim Purveyors of Leisure Resources Sphere Rocket Virtual AssistantsStayFiAvochatoSlackRebecca SlivkaHicksville Trailer PalaceVirtual Staff FinderLegends X Short-Term Rental AcceleratorGet Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.