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

When you have a question about your short-term rental (STR) business, where do you go? Do you run a Google search and then spend several hours sifting through the information? What if you had a community of experienced Airbnb hosts you could go to for knowledge, inspiration and support?Phillipe Thibodeau is the real estate developer and STR host behind Strawberry Stays, a vacation rental and property management company out of Montreal, Canada. His experience as a host began with a single unit in May of 2017, and now he and his business partner are growing their portfolio quickly—with plans to secure a total of 80 listings in the next 12 months!On this episode of Get Paid for Your Pad, Phillipe joins me to discuss the pros and cons of self-learning versus being part of a community. He explains how COVID-19 gave him the opportunity to work ON his business and what you can do to develop a playbook for your own Airbnb. Listen in for Phillipe’s insight on the three things you need to know before you start a STR business and learn how YOU can get inspired by an engaged community of Airbnb hosts!Topics CoveredHow Phillipe got into hosting on AirbnbStruggling to rent unit of building owned w/ best friendDecided to try STR, earned double normal income on unitOpened eyes to new market in real estate businessHow Phillipe was affected by COVID-19One guest for 30 days vs. 30 guests per monthOpportunity to work ON business (build systems)How to develop a playbook for your STR businessWear ALL hats early on (e.g.: cleaning, maintenance)Optimize and document processes for every roleThe three things you need to know before you start hostingLook for community to learn fromBusiness doesn’t run itself (work ON AND IN to start)Only move forward if you’re passionate about STRThe benefits of being part of a community of hostsKnowledge and informationInspirationAccountabilityMotivation in moments of doubtAccelerate growthPhillipe’s goals for the next 12 to 24 monthsGrow business to qualify for STR LegendsBuild boutique hotel on land purchasedConnect with PhillipeStrawberry StaysPhillipe on LinkedInPhillipe on AirbnbResourcesZapierChip ConleyMaslow’s Hierarchy of NeedsSTR LegendsSTR Profit AcademyGet Paid for Your Pad on FacebookEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

Are you struggling to move out of fear and into action? Yes, the short-term rental (STR) industry took a hit in March when the Coronavirus forced most of us to shelter in place. But now, many Airbnb hosts are taking steps to generate bookings and some are even thriving through the pandemic. So, how do you get motivated to turn off Netflix and say YES to building your STR business?Gordon Martin is the CEO of People, Places & Things, a vacation rental and experiential tourism business based in Paradise, Newfoundland and Labrador, Canada. Gordon began his hosting career in August of 2017, listing his family cabin on Airbnb. Today, he represents 15 owners and 37 listings, aiming to ground his guests in PLACE, connect them with local PEOPLE, and provide the opportunity to do THINGS that will create lasting memories.On this episode of Get Paid for Your Pad, Gordon joins me to explain how he is thriving through the pandemic, serving his owner-clients, staff and guests. He describes the shell shock he felt when the crisis started and walks us through the steps he took to turn his STR business around—and even pick up several new properties! Listen in for Gordon’s insight around the importance of community in challenging times and learn how to get un-stuck and take action in YOUR vacation rental business.Topics CoveredHow Gordon got into AirbnbNeeded immediate cash in Fall of 2017Immediate bookings from listing cabinNow represent 15 owners, 37 listingsGordon’s initial reaction to the Coronavirus crisisFear, uncertainty and dreadTwo weeks watching Netflix and CNNHow Gordon turned his STR business aroundHire back VAs (operations + social media)Shift focus to staycations, rename listingsPositive press in traditional mediaHow Gordon picked up new properties in a pandemicReferrals from current owner-clientsShare success on social mediaHow Gordon transitioned out of stuck-ness into actionTake responsibility for situationChange environmentWhat Gordon learned through the COVID-19 crisisImportance of communityStay close to credible sources of infoLearn as much as possibleAccept situation and then respondGordon’s advice for STR hosts who feel stuckShare challenges with communityRemember your WHYConnect with GordonPeople, Places & ThingsPPT on FacebookPPT on InstagramPPT on LinkedInGordon on LinkedInGordon on AirbnbResourcesEric MoellerLandmark WorldwideTony RobbinsThe Daily Stoic: 366 Meditations on Wisdom, Perseverance, and the Art of Living by Ryan Holiday and Stephen HanselmanThe Obstacle is the Way: The Timeless Art of Turning Trials into Triumph by Ryan HolidayEgo is the Enemy by Ryan HolidayBooks by Ryan HolidayAllan Cuevas’ Airbnb Empire Academy on FacebookMark Simpson’s Boost Hospitality Marketing PodcastSTR LegendsSTR Profit AcademyGet Paid for Your Pad on FacebookEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

If you survived the last 3 months, you can survive anything. The pandemic hit short-term rental (STR) units hard and it hit property management companies even harder.So, how did major players handle the crisis? What advice do they have for anyone still trying to navigate rough waters?Syed Lateef is the CEO and founder of Hostly, a property management company based in Chicago. He left his full-time job as a financial analyst in 2018 to start his master lease business and build relationships with landlords in and around the city. By February 2020, Syed had 165 units and was looking to bring in $6 million in revenue in 2020.Today, Syed joins me to discuss how he and his team have handled the pandemic. Syed explains how he started his business and on-boarded units pre-COVID. He then pivots to his experience de-commissioning units after the crisis hit and how he negotiated his way out of contracts with landlords. Syed also reflects on how he and his company have weathered the pandemic and what his plans are moving forward. Listen in for Syed’s insight on identifying new business partners and growing the number of units you maintain.Topics CoveredSyed’s Airbnb storyBackground in financeBought multi-family property in 2017 (4 units plus basement unit)Slowly converted all units to STRsHow Syed founded HostlyLeft full-time job in 2018 to manage STR properties full-timeBuilt strong relationships with larger landlords and property management companiesSyed’s approach STR seasonality in ChicagoBell curve – Summer to October is when you make your moneyManage cash flow and reserves throughout year to pay for WinterSyed’s advice on approaching landlordsNo one responds to the first call/emailLeverage success with one landlord to bring another on boardHow Syed on-boards propertiesNegotiate up-front rent credits and waived security depositsFurnish apartments but use an intake processHire handy-men using an app like TaskRabbitSyed’s experience with COVIDCovid-19 was like hitting a brick wall – huge losses and no cash or bookingsRented units at super low prices and hit 80 percent occupancy in MarchMade a profit in May and planned to do the same in JuneHow Syed down-sized (decommissioned units)Stuck with 2 or 3 landlords that he had the best relationship with and the most unitsDe-commissioned about 60 units total – settled out of contractsTook furniture out and put in storage or in basements or garages of buildings he ownsSyed’s vision for the next yearTrying to survive month to month right nowWants to add more units if the demand is back2020 is mostly a lost causeHow Syed mentally handled the pandemicKnew it was out of his control and a once in a lifetime thingWas super transparent with business partners and teamLittle wins after biggest loss gave him motivationSyed’s advice for newcomersReputation and the right business partners will set you up for successChoose your partners wiselyConnect with SyedHostlyHostly on InstagramSyed on LinkedInResourcesBiggerPockets Real Estate PodcastSTR Profit AcademySTR Legends MastermindsTaskRabbit Hosted on Acast. See acast.com/privacy for more information.

Search Airbnb for listings in your area that are accessibility friendly. What did you find?Many markets have very few short-term rental (STR) units that accommodate travelers with limited mobility or other special needs. And those that do definitely stand out. So, how do you design an accessible Airbnb listing?Margie Schrader is the Superhost behind Zennia Hospitality, a STR management company out of Bloomington, Indiana, and an active member of our STR Profit Academy. Margie has maintained a remarkable 4.99 average over 188 reviews by stressing hospitality and cleanliness.Today, Margie joins me to discuss what she is doing to accommodate differently-abled travelers with an accessibility friendly Airbnb. She explains what inspired her to design a listing with wheelchair access and how she is challenging herself to make everyone with special needs feel comfortable in the space. Listen in for insight on the marketing benefits of an accessible STR and get Margie's advice on how to stand out in your market with an accessibility friendly listing.Topics CoveredMargie's Airbnb journeyLocal builder asked to manage STR (May 2018)Now hosting five units in Bloomington, INMargie's experience with COVIDProvide free stays for medical professionalsStep up cleaning procedures, day in betweenSlow return to normal (two units back up)What Margie's market is like right nowPre-COVID guests = parents of college studentsNow guests in town to see family, for getawayWhat inspired Margie to create an accessibility friendly AirbnbLocal builder gutting and renovating house nearbyNo one else in market with wheelchair accessibilityHow Margie is accommodating differently-abled travelersStep-free access, wide doorways + hallwaysRoll-in shower, accessible height toilet/bedFurniture contrasts with floor (low vision)The marketing benefits of an accessibility friendly AirbnbMedia opportunities as only accessible STR in marketGuests drawn to business that aligns with valuesMargie's advice for aspiring Airbnb hostsMake sure units are super-cleanBe yourself in interactions with guestsUnderpromise and overdeliverTry not to take reviews personallyConnect with MargieZennia HospitalityZennia Hospitality on InstagramMargie on AirbnbResourcesSTR Profit AcademyAirbnb’s COVID-19 Cleaning GuidelinesCDC Guidelines on Cleaning & DisinfectingAirbnb’s Accessibility SupportSocial Impact on GPFYP EP283Email jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

Nobody’s perfect. But Martin Chilangles comes pretty close. If you check out his Airbnb listing, you’ll notice that he’s never received anything other than a five-star review. And he does NOT directly ask guests for the five-star rating. So, what is he doing to get the highest possible score—every single time?Martin is a marketing expert and STR host in Mexico City. Originally from the UK, Martin fell in love with Mexico City in college and returned for good in 2013. An Airbnb Superhost and active member of our STR Profit Academy, Martin has earned 100-plus reviews as a host—all of them five-star.Today, Martin joins me to share his secrets for getting nothing but five-star reviews, explaining what he does to connect with guests and exceed their expectations. He discusses the marketing principles he applies to his Airbnb, introducing us to his own detailed customer avatar and describing the benefits of knowing your target market. Listen in for insight on finding the unique selling point for your STR listing and learn how YOU can gain a competitive advantage and get great reviews on Airbnb!Topics CoveredWhat drew Martin to Mexico CityWarmth of peopleFood and weatherMartin’s secrets to getting nothing but five-star reviewsCreate personal connection with guestExceed expectations with gift basketAnticipate problems, respond to messages quicklyGive guest five-star review + invite to stay againHow Martin dealt with his most difficult guestResponded to blocked toilet personally (with cleaner, plumber)Brought family $100 in food from local deliMartin’s advice on marketing your AirbnbChoose niche + target market (e.g.: business travelers)Build out customer personaMartin’s Airbnb customer profile40-year-old New Yorker named DavidTakes international vacations oftenDoesn’t know Mexico City wellLoves discovering new placesLikes tacos and drinking tequilaThe idea of a unique selling point or USPGives host competitive advantageBetter than competing on costThe benefit of building out a customer avatarHelps host make decisionsPut client’s needs firstConnect with MartinMartin on AirbnbResourcesSTR LegendsSTR Profit AcademyCouchsurfingWhatsAppToastmastersAirReview Chrome ExtensionEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

Is it too much trouble to manage multiple short-term rentals (STRs) in different markets? If you have the opportunity to invest in Airbnb properties, but you know you’d have to run the units remotely, there are tactics and tools you can use to make the job easier.Karen Chenaille is the real estate investor and vacation rental host behind Star Gazer Stays, a STR business with properties in Vermont, Tennessee, Mississippi and Florida. She is also an active member of our STR Profit Academy and works full-time as a program manager for a Fortune 500 defense contractor.Today, Karen joins me to explain how she grew her portfolio to 11 properties, discussing what she looks for in a STR market and how she manages those units remotely. She shares her experience as a host through COVID-19 and describes how Profit First helped her build the cash reserves to navigate the crisis. Listen in for Karen’s insight on leveraging a CEO mindset as you expand your STR business and learn what tools you can use to run multiple Airbnbs in different markets!Topics CoveredHow Karen grew a portfolio of 11 STR propertiesUse extra space in own 5BR houseAdded condo near ski resortSold convenience store to expandWhat Karen looks for in a STR marketVacation rentals have been around long timeLocal governments pro-STR and make moneyHow Karen finds cleaners + maintenance staff in new marketsStay in local Airbnb, contact host/cleanerAsk for referrals from local realtorThe benefits of using Wi-Fi locks for self check-inOnly valid for period from check-in to checkoutKnow what’s going on and stay in controlKaren’s vision for the future of her STR businessGrow Airbnb revenue for next six to eight monthsDecide whether STR can be main source of incomeKaren’s experience as a host through COVID-19Lost $20K in five days on Tennessee propertiesState of Vermont blocked calendar through 7/1What bookings look like for Karen nowNew properties in Florida booking like crazyTennessee Airbnbs picking up (at higher rates)Guests choosing drive-to destinationsHow Karen applies the principles of Profit First Pay yourself and taxes first, then use rest to operateNarrow down and prioritize expenses based on ROIHow Karen built the cash reserves to survive COVIDLeverage YNAB cashflow management toolSet aside money to pay off expenses in 10 monthsHow Karen is implementing the CEO mindsetOnly do things good at, outsource restDevelop systems + use automation when possibleKaren’s advice for STR hostsDon’t feed into hysteria and panicStill much opportunity in STR spaceConnect with KarenStar Gazer StaysStar Gazer Stays on FacebookKaren on AirbnbResourcesSTR Profit AcademyGet Paid for Your Pad by Jasper Ribbers and Huzefa KapadiaNoiseAwareRemote LockTurnoverBnBProfit First by Mike MichalowiczYNABQuickBooksMike Michalowicz’s Podcast: Entrepreneurship ElevatedClockwork by Mike MichalowiczThe 4-Hour Workweek by Timothy FerrissEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

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There is no such thing as the perfect property management system (PMS). So, if you’ve been waiting for a unicorn that will solve all of your problems, you’re out of luck. But what you CAN do is find a PMS that meets MOST of your needs and integrate it with other software, building a tech stack that works for YOUR short-term rental (STR) business. John An is the STR Legend, real estate investor and technology expert behind Ohana Stay, a vacation rental company based in Honolulu, Hawaii. He is an active member of our STR Profit Academy Inner Circle and sought-after property manager, bringing in returns 20% to 50% above market. John also works with existing property managers, providing them with the technology stack he has developed.Today, John joins me to share his process for building a tech stack for your STR business and walk us through the set of software packages he uses to run Ohana Stay. He explains why there is no perfect PMS and how to pick one that meets most of your needs—based on the features that are important to you. Listen in for John’s insight on creating the right cocktail of technologies and learn how you can make several existing software programs work together to get the functionality you need!Topics CoveredJohn’s background as a STR host in HonoluluBought property, decided to self-manage remotelyBuilt out technology and systems for efficiencyHow COVID-19 is impacting hosts in HawaiiState very careful about letting people travelJohn hosting medical professionals + localsJohn’s strategic approach to building a portfolioStart with buying own properties to hold long termOnboard additional STRs through word-of-mouthJohn’s process for building a tech stack for your STR businessWhat channels do you want to be on?What core features are most important to you?The tech stack John uses to run his own STR businessYour Porter meets most needs as PMSSmartbnb for some messagingTurnoverBnB to communicate with cleanersPriceLabs pricing engineJohn’s advice for building the tech stack that works for youLook for pieces with functionalities you needDevelop workarounds in absence of integrationHow Smartbnb’s AI works to answer guest questionsIdentifies keywords and determines contextAnswers common questions (e.g.: parking, early check-in)John’s mindset around creating a cocktail of technologiesConstantly test new things and be willing to make changesNo perfect PMS, so put together pieces that work for youConnect with JohnOhana StayEmail host@ohanastay.comResourcesSTR LegendsSTR Profit AcademyVreasyTokeetOneRooftopUplistingHostawayHostfullyYour Porter [Discount Code PAD]GuestySmartbnbTurnoverBnBWheelhouseBeyond PricingPriceLabsRentals UnitedStreamlineiGMSLodgifyEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

Many short-term rental hosts are using the Coronavirus shutdown to show our listings some love, taking advantage of the unexpected break to upgrade our Airbnbs. And those of us who’ve made improvements would like to update the photo gallery on our listings as well. But how do we take attractive pictures on our own—without the help of a professional photographer?Vick Fichtner is the travel blogger and professional photographer behind the Smartphone Airbnb Photography Guide. Vick has degrees in architecture and interior design as well as a master’s in photography, and she has been an Airbnb Plus photographer and quality inspector since 2011, photographing more than 3,000 homes. She also has six years of experience as an Airbnb host, sharing her home in Barcelona with guests from all over the world.Today, Vick joins me to explain how to take great Airbnb photos with a cellphone and share her top tips for prepping your space for pictures. She introduces us to the concept of staging your listing, describing how props can help a guest visualize their experience in your Airbnb. Listen in for Vick’s insight on how many shots to include of each room and learn how YOU can update your listing’s photo gallery (and attract more bookings!) with the camera on your smartphone.Topics CoveredHow to stage your Airbnb listing for photosUse props to help guests visualize experienceDon’t use items that are too personal (e.g.: shoes)Avoid clutter, try groups of three objectsVick’s general advice for taking photos of your listingTake more than necessary and publish bestTake photos from different angles for 3D viewVick’s Airbnb photo gallery checklistOne shot each of exterior and entranceTwo to four shots of living room, bedroomOne to two shots of dining area, bathroomTwo to five shots of outdoor spaceWhat makes a good cover photo (hero shot)Eye-catching, stands out from listings in areaShows most unique or interesting spaceNot too busy (frontal shots work best)What inspired Vick to write the smartphone guideNot allowed to work during lockdown, no guestsDecided to redecorate during forced breakHelp other hosts update photos with cell phoneVick’s tips for taking smartphone photos of your listingShoot from doorknob levelDon’t tilt phone (hold parallel to walls)Clean smartphone lensConnect with VickSmartphone Photo Guides [Discount Code PAD]Vick’s Airbnb Listing in BarcelonaResourcesSTR Profit AcademyGPFYP on YouTubeEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

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