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

“Honestly, it was a gamble … but I knew, if I put in the same amount of time that I did at my job, I knew I could make that much or even more through Airbnb because I saw how much it could actually grow.”So, you’ve got a good, steady job, but it doesn’t light you up. You know you’re self-motivated enough to be an entrepreneur, and you LOVE the idea of deciding for yourself how to spend your time. You CAN achieve financial freedom through short-term rentals (STR), and today’s guest took a leap of faith to do just that.Azubuike Dike (better known as AJ) is the Cofounder and Logistics Manager with EA Lodging, an STR property management company based in Houston. The EA Lodging team provides reliable services for property owners looking to create positive experiences for their guests, boasting a proven track record for optimizing short-term rentals in Southeast Texas. In addition, AJ and his partner, Erica, offer an array of services for hosts, including STR setup and design, listing photography, furniture sourcing, and a listing revamp—just to name a few.On this episode of Get Paid for Your Pad, AJ joins me to share his journey from microbiologist to full-time Airbnb property manager. He explains how the Superbowl inspired his first STR listing, why he transitioned to cohosting, and where he found his first few properties to manage. AJ also discusses the automation tools he uses to manage EA Lodging, describing his role in the business and what he outsources. Listen in to understand the services AJ offers other hosts and get his advice for achieving financial freedom as an Airbnb entrepreneur!Topics CoveredHow AJ got into AirbnbListed girlfriend’s apartment for SuperbowlBooked every weekend until lease endedHow AJ grew from one listing to a property management companyRent apartment near NRG stadium specifically for AirbnbConverted to cohosting when got in trouble for listingAJ’s transition from a 9-to-5 to entrepreneurshipGood job as microbiologist for City of HoustonSaw how quickly could achieve financial freedom with STRRequires different mindset (nobody tells you what to do)AJ’s experience with quitting his jobTook leap of faith despite fearMotivate self on days feel downHow AJ found properties to manageCondos for sale on CraigslistSearch Airbnb Community ForumAJ’s current STR cohosting portfolio10 properties in HoustonAble to sustain self comfortablyWhat inspired AJ to add services for other hostsAugust slow month for STR in HoustonHelp others create listing, get bookingsAJ’s advice for aspiring Airbnb entrepreneursKnow your number to live comfortablyFind your lane + follow people doing what you want to doGet educated (i.e.: market research, podcasts and classes)Reach out to people with property/room availableHow AJ manages EA LodgingAutomate guest communication with Your PorterOptimize pricing for STR with PriceLabsCheck on units and touch base with ownersConnect with AJEA LodgingResourcesCraigslistAirbnb Community ForumYour PorterPriceLabsSTR Profit AcademySTR LegendsTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

What do top short-term rental (STR) operators from around the world have in common? This past summer, Eric Moeller and I hosted the STR Legends Live Mastermind in Puerto Rico, and we uncovered three buckets that successful Airbnb hosts focus on, whether their business is in South Africa or Siberia or San Diego. So, we are compiling this information in a three-part series and providing you with the blueprint to launch and scale a profitable STR business!Beyond partnering with me on STR Legends Live, Eric also serves as host of the Airbnb Mastery Summit, a program designed to help aspiring hosts build a professional and profitable business on Airbnb, and founder of Cohost Mastery, an online training academy that teaches you how to start an STR company without owning or leasing any properties. In addition, he runs his own successful vacation rental leasing and property management company in California.On this episode of Get Paid for Your Pad, Eric and I sit down to discuss our upcoming masterclass, STR Profit Academy. We offer an overview of the three pillars of a successful Airbnb business we plan to cover in the series—business, hospitality and mindset. Listen in for insight around who would benefit most from attending our live masterclass and learn the blueprint to launch and scale a successful STR business!Topics CoveredThe three-part masterclass Eric and I are putting togetherCompile personal experience with STR LegendsPillars necessary to build + grow STR businessWhat successful STR operators have in commonBusinessHospitalityMindsetPillar #1—Building the BusinessIdentify marketplace, property typeStrategic plan to set up for successProperties run like McDonald’sPillar #2—HospitalityStand out with unforgettable experienceUnderstand customer journeyManage through automationPillar #3—Entrepreneurial MindsetWilling to invest in personal growthThrive on challenges, competitionOvercome limiting beliefsWho should sign up for STR Profit AcademyJust starting out, struggling to get startedHosts looking to live life by designObsessed with Airbnb/short-term rentalsWilling to take action + grow as personConnect with EricCoHost MasteryAirbnb Mastery SummitEric on LinkedInResourcesSTR Profit AcademyEric on GPFYP EP285Eric on GPFYP EP278Eric on GPFYP EP256Eric on GPFYP EP175STR LegendsDavid KraussTony RobbinsThe Obstacle is the Way: The Timeless Art of Turning Trials into Triumph by Ryan HolidayTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

Vacation rentals have been around for a long time. But the advent of Airbnb put the industry on our radar in a new way, inspiring significant growth and change. And today, there’s an entire ecosystem of bespoke products and services that cater to the multibillion-dollar short-term rental (STR) industry.Evian Gutman is the Founder and CEO of Padlifter, the world’s largest marketplace of STR service providers. Evian created the platform to connect businesses in the Airbnb ecosystem with their target customers. Padlifter provides the most comprehensive directory of short-term and vacation rental service providers globally, enabling hosts to find the right services in the right place at the right time.On this episode of Get Paid for Your Pad, Evian joins us to discuss the development of the Airbnb ecosystem, explaining how the products and services have evolved with the expansion of the STR space. He describes several traditional industries that have adapted their offerings to serve the vacation rental industry and offers insight around the most innovative collaborations in the network. Listen in for insight around the potential for Airbnb to allow listing videos and learn how Padlifter connects stakeholders in the STR industry!Topics CoveredHow the Airbnb ecosystem developedVacation rentals on people’s radar with AirbnbExpansion to multiple booking platformsIncreasing number of services to meet demand115K vacation rental companies worldwideThe evolution of the STR industryDecrease in average length of stay (4 nights)Destination vs. urban travel to replace hotelWhy hosts list on multiple channelsAdditional exposure, marketing opportunityAvailability of channel management softwareTraditional services that evolved to specialize in STRCopywriting, listing optimizationData and investment supportLuggage and parcel servicesEvian’s insight around the most innovative companiesRight product for right person in right placeCollaborations, all-inclusive services (i.e.: property manager with in-house turnover)The potential for Airbnb to allow videoHigher expectations around Airbnb LuxeIntegration of video likely to trickle downHow Padlifter serves the STR industryWorld’s largest marketplace of service providersConnect businesses with target audienceSimplify lives of hosts, make more moneyConnect stakeholders (verification, reliability)Connect with EvianPadlifterEvian on LinkedInResourcesBeyond PricingTransparent DataInkifi Global Airbnb CapitalsAirDNAArchibnbAirbnb PlusAirbnb LuxeVRMA ConferenceSTR LegendsHOST 2019Eric MoellerTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

A lot of short-term rental hosts underestimate the power of effective guest communication. How well you convey the information your guests need has a big influence on their experience. And that, in turn, impacts the reviews they leave you on Airbnb. So, what does good guest communication look like? How often should you message your guests? And WHEN is the best time to send WHAT information?Today, I’m sharing an edited version of my Smartbnb Webinar on how to streamline your Airbnb guest communication. I explain why it’s crucial to communicate clearly with STR guests and offer advice on building relationships with voice notes and video.I walk you through the five aspects of successful Airbnb guest communication, discussing how to provide objective information that’s easy to understand—when the guest actually needs it. Listen in for an outline of my guest communication flow and learn how often to communicate with guests before, during and after their stay!Topics CoveredWhy guest communication is crucial on AirbnbInfluences guest experienceNo industry standards like hotelThe reasons for communicating with Airbnb guestsProvide information, facilitate optimal stayBuild relationship (more forgiving review)How we communicate as human beingsWords only small part of messageTone, body language more importantTips for building relationships with guests remotelyPhone call and/or send voice notesSend short video if can’t meet in personThe 5 aspects of successful Airbnb guest communicationAccuracy—objective information (e.g.: WiFi speed test)Timeliness—respond quickly + send info when need itDigestibility—present info in concise, appealing wayFrequency—send most important info multiple timesComprehensiveness—provide ALL info guest needsMy Airbnb guest communication flowSend welcome message immediately after bookingDeliver check-in instructions few days before stayResend address, check-in instructions as flight landsWelcome + resend WiFi password just after check-inHow often to communicate with guests during their stayReach out few hours after arrival for feedbackMessage guest morning after first nightCheck in every 3 or 4 days after thatCommunicating with Airbnb guests after their staySend thank you immediately after check-outReview guest right away, ask to reciprocateRemind guest to submit review after weekFinal reminder day before window closesResourcesSpeedtestHemingway EditorGrammarlySmartbnbHostfullyWhatsAppTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

Are you annoyed with your Airbnb guests or overwhelmed with the responsibility of managing your listing? If you’ve been a short-term rental host for a while now, you may be tired of answering the same questions and frustrated with guests who complain about things you can’t control. This condition is known as Airbnb hosting fatigue. So, what can you do about it? Can you prevent hosting fatigue from happening to you?Today, I’m doing a solo episode to discuss the issue of Airbnb hosting fatigue. I share my own experience with the phenomenon, explaining how I reignited my passion for hosting. I also offer insight around how outsourcing some activities and automating things like messaging, pricing, and task management can prevent STR hosting fatigue. Listen in to understand the problem with the Airbnb review system and get my top tips for finding the inspiration to stay engaged and continuing to improve your listing!Topics CoveredMy experience with STR hosting fatigueSuper-excited to host for first couple monthsComplaints, repeat questions got annoyingStarted to not care as much, ratings sufferedHow I reignited my passion for hostingLook for ways to change, improve (e.g.: Hostfully guidebook)Engage with guests through WhatsAppHow to prevent Airbnb hosting fatigueAutomate or outsource some activitiesHire employee to clean, check-in guestsThe problem with the Airbnb review system4-star hotel review = luxury, certain amenitiesAirbnb expects consistent 5-star reviewsHow I think about the Airbnb review systemOne bad review won’t kill STR businessTake feedback seriously, be professionalMy top tips for preventing STR hosting fatigueFocus on finding inspiration to improveCommunicate with other hosts (i.e.: Meetups, online groups)Shift focus by asking right questionsTake break from hosting if necessaryResourcesSmartbnbSmartbnb BlogJasper’s Communication Post on SmartbnbHostfullyWhatsAppSeth Porges on GPFYP068Seth Porges’ Article on ReviewsMeetupTony RobbinsJasper’s Smartbnb Webinar RegistrationHost 2019Get Paid for Your Pad BlogTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

“I vowed to change the company’s vision … from putting roofs over people’s heads to creating memories and stirring emotions.”It is easy to build relationships with guests when you have a small number of listings, and you can be there in person to check them in. But how do you keep that connection as you scale up to 50 units or more? What can you do to show people you care and maintain superior hospitality as your business grows?Steve Patterson is the President of UrHomeInPhilly, a short-term rental property management company based in Philadelphia, PA. UrHip is ranked #1 in customer experience on Google and was voted best place to stay in Philadelphia by Sweet Retreats. Steve is passionate about helping his guests create memories, and he has maintained Superhost status—even as his business has grown to 80-plus units.Today, Steve joins us to explain how he differentiates his STR business with outstanding service. He shares his struggle to achieve Superhost status, discussing what he learned at the Airbnb conference that improved his reviews. Listen in for Steve’s tips on building relationships with guests, even when you can’t be there to meet them in person, and learn what tech tools he uses to maintain exceptional hospitality while his business continues to grow!Topics CoveredHow Steve got into AirbnbWanted to move to suburbs but locked into leaseUse STR as strategy to not lose moneySteve’s experience at the Airbnb conferenceWanted to learn to be SuperhostSpeakers inspired to use CARE as catalystHow Steve differentiates himself with serviceCreating memories + stirring emotionsPersonalize stays around reason for travelHow to build relationships when you can’t meet guestsDemonstrate care (e.g.: balloon for birthday)Online tools to communicate through videoSteve’s insight around creating a high-level of serviceOnly as good as team on groundLearn about guest, find things in commonHow Steve scaled his STR business to 80+ unitsStandardize as much as possible (e.g.: flatware)Find reliable technology partnersHire virtual team to helpSteve’s top takeaways from STR Legends LiveLeverage processes to work fewer hours/weekDon’t be in rush to buy property (winter coming)Connect with SteveUrHomeInPhillySteven on LinkedInUrHip on FacebookResourcesEat, Pray, Love Author Elizabeth GilbertLoomBombBombWhatsAppSTR LegendsTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

If you have a small number of Airbnb listings, screening guests (and rejecting the bad ones) is not a problem once you know what to look for. But what if you want to grow your short-term rental business to 20, 50, or even 100 properties? What tools are available to STR rental managers to vet and monitor guests? How can you leverage effective screening to make more money AND acquire new listings?Anton Zilberberg is an STR Legend and property manager out of Toronto. He operates a portfolio of 100-plus properties through his luxury STR company, QuickStay, and serves as the Founder and CEO of Autohost, an AI screening tool for Airbnb guests. Today, Anton is back on the podcast to offer his advice on guest screening to STR managers who are looking to scale.Anton covers the risks property managers face, describing the scope of the fraud problem in the STR industry. He also weighs in on how effective screening increases STR revenue and gives property managers a competitive advantage. Listen in to understand Autohost’s multilayer verification process and learn how effective screening protects you, your business—and your neighbors!Topics CoveredThe fraud risks that property managers faceCredit card schemes + identity theft casesGun violence, escort services and drugsResell STR on dark webThe scope of the fraud problem in the hospitality industryAccounts for $150B annually1 in 20 bookings potentially fraudulentAutohost’s multilayer verification system for screening guestsDigital fingerprint determines geolocationChecks on ID, credit card and social channelsAnton’s insight on security solutions for STR managersInstall NoiseAware, security cameras, etc.Process in place for removing guestsEducate team on security and safetyHow to identify and deal with fake IDsUse ID verification systemCollect additional information (e.g.: social accounts, business email)Anton’s insight around complying with privacy lawsDo not store or share personal informationVerify accuracy, then dispose of infoHow effective screening increases STR revenueRemove booking restrictions, allow Instant BookRewarded with higher position in search resultsFewer gaps in calendar = less unsold inventoryAllows to accept locals (especially in off-season)How effective screening gives property managers a competitive advantageDemonstrate higher returns for ownersUse as selling tool to grow businessHow Airbnb screening compares to AutohostAirbnb verification at booking only9 vs. 2,000 verifications + testsAton’s advice for growing STR managersCreate systems to set expectations, monitor high-risk guestsVerify ID and phone number, charge security depositHow much it costs to use Autohost$1 to $10/screening based on services$5/screening for first 200 GPFYP listenersHow screening prevents problems for STR hostsHold people accountable (sue in court if necessary)Charge unverified guests with trespassingConnect with AntonAutohostQuickstayAnton on LinkedInResourcesAnton on GPFYP EP290Ernst & Young 2018 Global Fraud SurveyNoiseAwareSTR LegendsGet Paid for Your Pad on FacebookTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

If you’ve had a bad experience with a guest on Airbnb, chances are you did not screen that guest effectively. But if you know what to look out for and what questions to ask, it is fairly easy to determine which guests are likely to break your house rules—and which ones might be engaged in criminal activity like fraud or identity theft.Anton Zilberberg is the Founder and CEO of Autohost, a new AI tool for screening Airbnb guests, and QuickStay, a luxury short-term rental (STR) management company out of Toronto with a portfolio of 100-plus properties. Today, he joins me to explain why it’s crucial to screen would-be guests and walk us through the questions he asks to determine intent.Anton offers insight on the two types of risk, general and criminal, sharing the red flags to look out for and additional measures to take in minimizing your risk portfolio. He also weighs in on the pros and cons of different booking channels and discusses the risks associated with guests coming from Airbnb, Booking.com and VRBO. Listen in for the parameters Anton uses to establish a risk score for potential STR guests and learn how to handle cancellations for both instant bookings and booking requests on Airbnb.Topics CoveredWhy it’s crucial to screen your STR guestsAllows for sustainable businessResidential area not like hotel (e.g.: noise concerns)Anton’s screening questions for Airbnb guestsWhat is the purpose of your stay?Why are you interested in this property?Where are you traveling from?What is your experience with STR?Anton’s tips for screening potential STR guestsSet expectations at booking stageMake sure guest story makes senseGet indication of intent (i.e.: birthday party)Anton’s insight on the two types of riskGeneral risk (e.g.: rule violations, additional guests)Criminal activity such as fraud, identity theftPotential red flags for criminal activityOut-of-province phone #, long stay + high ADRNever answer phone but reply with SMSThe pros and cons of different booking channelsAirbnb good fraud detection, higher general riskcom high risk for fraud (establish processes)VRBO high general risk, less payment riskFactors to consider in determining general riskLength of stayBooking channelType of propertyNumber of guestsAverage daily rateDay of weekThe benefit of using Airbnb Instant BookNo penalty for cancellation with valid concernMore information to run guest risk scoreHow Anton handles Airbnb booking requestsRun risk score with information availableRun again once booking confirmedEstablish strict rules if score changesInvite guest to cancel for full refundConnect with AntonAutohostQuickstayAnton on LinkedInResourcesSTR Legends LiveNoiseAwareTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

Accommodations account for 40% of the global travel industry, bringing in a jaw-dropping $675B in 2018. And according to a recent report by Cleveland Research Company, accommodations also happen to represent the largest, fastest growing, and most profitable segment of the online travel market. So, how much of that $675B is credited to Airbnb and other short-term rental opportunities?Margot Schmorak is the cofounder and CEO of Hostfully, the SaaS company that helps short-term rental hosts save time, make more money and deliver a five-star experience by way of beautiful, personalized guidebooks for guests. Today, she joins me to discuss the Cleveland Research Company’s latest report on the global accommodations market, comparing the numbers for traditional vacation rentals and the sharing economy as well as the growth rates for each type of booking.Margot and I go on to cover the EU controversy around short-term rental transparency, explaining how Airbnb listings there are required to show the real price, fees included, from the start. Listen in for insight around Airbnb’s increase in Instant Book listings, the site’s new search tools for business travelers, and the recent launch of Airbnb Adventures.Topics Covered Article #1: Breaking Down the Global Accommodations and Vacation Rental Market·       Global accommodations market = $675B·       Vacation rentals 17%, sharing economy 6%·       Sharing economy growing at 30-40%·       Airbnb double revenue of Booking.com (same # of listings)Article #2: Airbnb Reaches Seven Out of Ten Properties Available for Instant Booking·       All listings on Booking.com book instantly·       VRBO/HomeAway 63%, Airbnb 70%·       Airbnb hosts screen after booking madeArticle #3: Airbnb’s Sale of an Around-the-World Trip Has Left Some Customers Angry·       12-week Around the World in 80 Days sold out·       Complexity makes difficult to scale, manageArticle #4: How to Earn Airline Miles & Points Through Airbnb·       Requested during Chesky Twitter chat·       Includes Delta, Qantas and ANAArticle #5: Airbnb Offers Greater Price Transparency in Europe After Regulatory Threats·       Required to show real price from start (with fees)·       Like to see worldwide implementationArticle #6: Airbnb Introduces New Search Tools for Business Travelers·       Work trip filter under stay type·       Listings highly rated by business travelersConnect with MargotHostfullyMargot on LinkedInResourcesArticle #1Article #2Article #3Airbnb AdventuresArticle #4Delta|AirbnbANA|AirbnbQantas|AirbnbInspiratoArticle #5Article #6Airbnb for WorkGPFYP Facebook GroupZapierRezfest2019 VRMA International ConferenceTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

Looking for ways to supplement your STR income? Chances are, most of your Airbnb guests are renting a car locally to explore the area while they travel. Why not make extra money by offering YOUR car on a site like Getaround?John William Johnson is the founder of Happy Healthy Long Life, an online store dedicated to products that promote health and wellbeing. He is also a veteran short-term rental host and runs a car sharing business through the site Getaround. John takes full advantage of his status as a digital nomad to travel internationally, often trading his pet sitting services for a free place to stay.Today, John joins me to discuss the process of renting cars on Getaround, explaining how the service differs from Turo and sharing his tips for optimizing a business on the site. He reflects on his 10 years of experience with Airbnb, describing how he evolved as a host and why he’s phasing out his STR business in Portland. Listen in for John’s advice on becoming a digital nomad and leveraging the sharing economy to generate income!Topics CoveredJohn’s decade of experience as an Airbnb hostListed room, then entire house in PortlandPhasing out STR business as rules changeJohn’s advice for aspiring Airbnb hostsMust like people, be willing to take riskTalk to guests before stay in homeThe process around renting cars on GetaroundPlatform installs device in carUser unlocks car with appRent by hour or day (e.g.: $6/hour, $36/day)John’s tips for optimizing a business on GetaroundPurchase older car OR electric carPark in well-trafficked locationHow insurance works on GetaroundCheck car after use, photos of damagePlatform sends check for repairsWhere John is looking to invest in STR propertyOpportunities in Spain, Portugal and AfricaResearch AirDNA + International LivingHow John trades pet sitting for a place to stayApply on sites like Trusted House SittersPick city and see what’s availableJohn’s insight on leveraging the sharing economyTrust your gut, not the gurusTake calculated risksConnect with JohnHealthy Happy Long LifeHealthy Happy Long Life on AmazonResourcesGetaroundTuroDrivyAirDNAInternational LivingInternational Living Real Estate Trend AlertTrusted House SittersHouse CarersRoverAmazon Seller CentralTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.