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

What’s the biggest obstacle hosts and property managers face in growing a short-term rental business? For most, the frustration comes from the sheer volume of communication necessary to run a large portfolio of properties. But what if you could automate both your guest messaging and operations—without sacrificing personalization?Pierre-Camille Hamana is the founder and CEO of Smartbnb. the leading guest experience platform for short-term rentals. Pierre-Camille and his team are on a mission to support hosts and property managers in running their guest communications and operations at scale. Today, he joins me to explain how Smartbnb is expanding to offer its customers new functionality in terms of business metrics and automated operations.We discuss Smartbnb’s ability to automate personalized messaging and support multiple languages, and Pierre-Camille describes why Smartbnb is adding features to streamline the operations of a STR business and allow property managers to grow their portfolio across platforms. Listen in for insight around Smartbnb’s new metrics product and learn how Smartbnb can help you scale your own STR business!Topics CoveredThe fundamentals of SmartbnbHelp hosts deliver great guest experience at scaleServe 2K customers, 65K properties around worldHow Smartbnb automates personalized messagesMachine learning to detect common questionsAccess to data allows for customized replySmartbnb’s multiple language support featureSupports same 29 languages as AirbnbAdapts messages based on cultureWhy Smartbnb is expanding to include operationsIdentify pain points in talking to customersNeed to streamline operations as grow portfolioThe STR platforms Smartbnb integrates withAirbnb, HomeAway and VRBOIn talks with Expedia, Booking.comThe metrics product Smartbnb added last NovemberProperty managers need easy way to calculateOccupancy rates, time to respond, growth, etc.How much it costs to use SmartbnbFree trial for 14 days€15 or $18 per month for first 2 listingsFee for additional listings that generate revenueConnect with Pierre-CamilleSmartbnbPierre-Camille on LinkedInResourcesPierre-Camille on GPFYP EP125AirbnbHomeAwayBooking.comVRBOExpediaTo 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.

Traditional real estate investing requires saving for a down payment and securing a bank loan before you purchase an asset. And this process limits how often you can add properties to your portfolio. But that is not the only way to acquire real estate, and Scott Glass contends that with a little creativity, you can own more properties and accelerate the growth of your STR listings!Scott Glass is a serial entrepreneur and real estate investor who manages 65 STR units in his native Canada, the US and the Dominican Republic. He has been active in the space for nine years and full-time for the last five. Today, Scott joins me to share his unconventional method of acquiring more properties more quickly, the land contract or seller financing strategy.Scott explains how the above-average cashflow of the Airbnb model supports land contracts and walks us through the process of finding FSBO properties and negotiating with owner-investors. Listen in to understand how Scott’s focus on larger properties helps him stand out on STR sites and learn how he leverages what he calls clustering to accommodate large groups and earn a premium on his listings!Topics CoveredScott’s background in the STR spaceActive nine years and full-time last fiveListings in Canada, US + Dominican RepublicWhat inspired Scott to pursue AirbnbUnconventional strategy to acquire propertiesSTR provides above-average cashflowWhy Scott uses land contracts or seller financingDeal directly with investor-ownerFind motivated seller living in different marketHow Scott finds seller financing dealsBasic research on Craigslist and ZillowSearch FSBOs by zip code (larger properties)The terms + conditions Scott proposesCash offer for significant discountZero down, balance of sale over 60 monthsScott’s success with the land contract strategyRecoup investment within two yearsOwn asset debt-free by year fiveThe fundamentals of land contractsTitle held by owner until final paymentValue-add in lieu of down payment/interestScott’s success in secondary marketsAttracts business travelers, tradesmenRecoup investment in 15 monthsHow Scott stands out on AirbnbLarge properties to accommodate groupsLess competitive and higher yieldScott’s cluster listing strategyList entire nine-unit building (i.e.: weddings)List entire floor (cluster of three units)List clusters of two 60 days outMake singles available 30 days outConnect with ScottScott’s Airbnb ProfileResourcesSTR Legends LiveCraigslistZillowTo 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.

STR Legends Live hosted 25 top operators from all over the world. Attendees represented 10 countries on 5 continents, with a grand total of more than 1,000 combined listings. So, what can we learn from these Airbnb big fish running businesses at scale? What were some of our top takeaways from the mastermind retreat?Eric Moeller is the creator of Cohost Mastery and the cohost of STR Legends Live. Erica Beers and Rebecca Slivka serve as head of Operations & Finance and Customer Service & Business Development for Pillow and Coffee, a short-term rental company built on the master lease model that manages 100-plus listings. Today, Eric, Erica and Rebecca join me to share their top lessons learned from STR Legends Live, discussing the guests’ willingness to connect and learn from each other. Erica and Rebecca describe how the quality of operators differentiated this event from other vacation rental conferences and offer insight around finding your niche in the short-term rental marketplace. Eric weighs in on what he learned in terms of scaling with intention, addressing the importance of adding listings that fit your business model. Listen in to understand how defining your guest avatar makes other decisions easier and learn how you can leverage systems to grow a successful STR business!Topics Covered Eric’s top takeaways from STR Legends Live·       Similar challenges regardless of location·       Willingness to share + learn togetherWhat made STR Legends Live different from other conferences·       Everybody brought value (quality of operators)·       Opportunity to connect, learn from each otherErica & Rebecca’s advice for growing the master lease model·       Build relationships with owner/operators·       Solve pain points (i.e.: maintenance, vacancies)·       Negotiate contract as business partnersHow Erica & Rebecca choose properties·       Goal = $800 to $1K per month per unit in profit·       Understand market (e.g.: seasonality, average daily rates)Erica & Rebecca’s tips for finding your niche·       Define guest avatar to make other decisions easier·       Analyze marketplace for needsEric’s insight on intentional growth·       More listings don’t necessarily mean more money·       Choose properties that fit defined business modelHow Erica & Rebecca can add a new listing in a couple of days·       Designer selects furniture + décor to fit brand·       Standard queen bed and appliances·       Systems for onboarding to booking software·       Team executes on checklist (i.e.: utilities, internet)My top takeaways from STR Legends Live·       Inspired by professionalism and systems·       Benefits of entrepreneurial mindsetConnect with EricCohost MasteryAirbnb Mastery SummitEric on LinkedIn Connect with Erica & Rebecca Pillow and CoffeeAirbnb GirlsErica on LinkedInRebecca on LinkedIn ResourcesAirDNATo 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.

Jot down your top three travel experiences. What made your stay so special? If you are looking for inspiration to create a unique Airbnb, considering what you appreciated most about those spaces is a good place to start.Nadia Rodriguez is a property appraiser and successful Airbnb Superhost with an upscale listing on the beach in San Juan, Puerto Rico. Today, she joins me to discuss where she goes for the design inspiration that makes her Airbnb stand out.Nadia describes her design aesthetic, explaining how her taste aligns with that of hotelier Liz Lambert and how she was inspired by a recent visit to Hotel San José in Austin. Listen in for Nadia’s insight on taking the guest’s sensory experience into consideration and get inspired to create a unique Airbnb of your own!Topics CoveredHow the infrastructure has improved in Puerto RicoContinue to rebuild after Hurricane MariaSignificant improvement in streets, electricNadia’s advice on where to find design inspirationFind aesthetic you enjoyFollow designers on Instagram, PinterestWhere Nadia gets inspiration + ideas for her AirbnbAttracted to aesthetic of Liz LambertBring hotel experience to STR (e.g.: bathrobes)How Liz Lambert’s hotel design resonates with NadiaRetro with modern twist, Spanish villaBalance space with warm + cold materialsHow to improve your STR guest’s sensory experienceIncludes sight, touch and smellMake choices that consider allOther factors that contribute to Nadia’s successRemain calm, collected under pressureMake guests feel safe + be availableConnect with NadiaLAKASALAKASA on InstagramEmail reception@lakasapr.comResourcesNadia on GPFYP EP238Liz Lambert on InstagramHotel San JoséBunkhouse GroupAloft BangkokShangri-LaSTR Legends LiveFollow GPFYP on InstagramJoin the GPFYP Email ListSimon on GPFYP EP277Beyond Pricing [Discount Code GP4YP]Jasper’s STR InvestmentsTo 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.

87% of consumers prefer to work with businesses that align with their values. So, how can we create a social impact as Airbnb hosts? How do we attract guests by doing good?Lynn Thurston is the founder and principal at Watersound Management, a firm dedicated to helping business owners develop social impact initiatives. With 20-plus years of experience as a social impact professional, Lynn often speaks on the topics of strategic planning and marketing, presenting at the VRMA International Conference, among many other venues.Today, Lynn joins me to share what it means to make a social impact and discuss the benefit of making social responsibility a part of your STR business model. Listen in on Lynn’s ideas for demonstrating social responsibility as an Airbnb host and learn her three-step approach to identifying opportunities to create a social impact in your community—AND attract guests to your Airbnb!Topics CoveredLynn’s insight on the definition of social impactRelated to broad social issues (e.g.: poverty, education, clean energy)Businesses engage in social issues in local communityThe benefit of growing a social impact businessConsumers prefer businesses that align with valuesOpportunity to do something goodHow an Airbnb host might demonstrate social responsibilityRecycle, use green cleaning products and sensor lightsRecommend restaurants based on values (i.e.: organic, green)Become member of local organizations, volunteerSuggest socially responsible activities to guests (e.g.: plogging)Provide free accommodations during conferencesHelp organizations generate additional revenue for causeLynn’s approach to identifying social impact opportunitiesFind alignment of values between you + your guestsUpdate owner profile, rental description with social initiativesInitiate social impact partnership with local NGOConnect with LynnWatersound ManagementEmail lthurston@watersoundmanagement.comLynn on VRMintelResourcesVRMAVerizon Ad ‘Love Calls Back’To 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.

Artists and creatives need space to work their magic, and a unique Airbnb can offer the perfect backdrop for a photo or film shoot, a podcast recording, or even a pop-up art show. But it can be costly to rent a listing overnight, especially if you only need the space for an hour or two. So, how can STR hosts collaborate with local creative entrepreneurs to make the most of the space available AND support the arts in their community?Sid Kosatsky is the founder and CEO of HostOften, a vacation rental property management firm based in Halifax, Nova Scotia. Today, he joins me to discuss his new venture, CollabOften, a partnership with local artists and creative entrepreneurs. Sid shares the process he has developed to allow photographers, podcasters and filmmakers to use his units for free in the slow season and between guests.Sid also explains the value he gets from the collaboration, describing how local creatives have become brand ambassadors for HostOften. Listen in to understand how Sid manages the risk involved in hosting artists between guests and learn how you might collaborate with local creatives to make the best use of your Airbnb! Topics CoveredSid’s idea to host artists + creatives in his unitsAvailability in slow season and between guestsUse spaces to record podcasts, do photo shootsThe rules creatives follow to use Sid’s units for freeUse space after cleaning from 1 to 3:30pmComplete checklist (e.g.: no trash, clean sink)Submit photos to get security deposit backHow Sid thinks about risk managementBuild trusting relationships with creatives‘They don’t want to let us down’The value Sid gets back for collaborating with artistsThousands of listing, lifestyle photos of unitsFree advertising on Instagram (tag @hostoften)Part of creative community in HalifaxSid’s CollabOften page on the HostOften websitePhotos + videos of recent collaborationsTestimonials from artists, entrepreneursSid’s unique RetroBnB listing on HostOften1980’s theme (i.e.: video games, monitor TVs)Provides marketing boost, priced 15% higherConnect with SidHostOftenHostOften on InstagramCollabOftenRetroBnBResourcesSid on GPFYP EP248Sid on GPFYP EP193To 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.

One of the most challenging aspects of growing a short-term rental property management business is managing host relationships. How do you decide which property owners to work with? How do you build trust with hosts early on? What is the best way to onboard new clients so that they understand your process?Zac Rushton is the co-owner and Host Relations Specialist at Great Dwellings, a DC-based property management company that helps homeowners maximize their Airbnb and short-term vacation rentals. In his role, Zac has grown the Great Dwellings portfolio from 20 to 80 listings in less than 12 months! Today, he joins me to discuss how he keeps property owners happy, sharing the Great Dwellings onboarding process and addressing how the team builds trust with new clients.Zac explains the Great Dwellings client selection process, describing how he attracts leads through SEO optimization and what standards a property (and its owner) must meet to be a part of the portfolio. Listen in for Zac’s insight on the functionality of the Wishbox guest experience platform—and learn how to best manage host relationships as you scale a STR business on Airbnb!Topics CoveredThe Great Dwellings onboarding processSet expectations + provide as much info as possibleUnderstand payout schedule and owner statementHow Great Dwellings clients have changed over the yearsLittle experience with short-term rentals in 2015Now familiar with Airbnb and want to outsourceThe challenge around customizing processes as you scaleDifficult to break workflow for one or two clientsExceptions rare but possible depending on clientThe Great Dwellings client selection processQuality of property, potential nightly ratePersonality of property owner (15-minute call)How Great Dwellings attracts new clientsOptimize SEO (Airbnb property management DC)Rank near top on Google, generate hot leadsHow Great Dwellings handles properties that are not ready for STRPresentation after walk-through to show standardOffer design/staging services for those who need itHow Wishbox prevents subpar reviews on AirbnbFeedback part of checkout checklist (cleanliness, staff + overall)5-star reviews link to Airbnb page, < 5-star reviews do notThe other Wishbox functionalities that Zac likesCheck-in checklist w/ anticipated arrival timeUpsells (e.g.: airport transportation, laundry service)What’s on the horizon for Great DwellingsMaster lease for 12 units in Playa del CarmenExpand to Dominican Republic, Lynchburg, VAConnect with ZacGreat DwellingsZac on LinkedInResourcesWishboxMaximizing Profit on GPFYP EP280Kelvin Mah on GPFYP EP276RankbreezeBelong HereTo 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.

We know that special events afford Airbnb hosts the opportunity to make extra money on the platform. But how do you decide how much to charge for your listing? When do guests start making reservations for events like the Super Bowl or SXSW? Are there ways you might earn additional revenue by offering add-on services?Tyler Olson is the founder and CEO of Away Agents, a unique property management startup out of Minneapolis that specializes in short-term vacation rentals. Tyler’s team provides homeowners with the tools to optimize their listings and bring out the best in every property. Today, Tyler joins me to discuss the origin of the company and explain how he maximized profits during the Super Bowl to earn an impressive $50K!Tyler addresses how he determines pricing for special events and shares the additional services he offered Super Bowl guests to bring in additional revenue. Listen in to understand Tyler’s process of finding landlords who allow short-term rentals and get advice around capitalizing on special events to maximize profit on Airbnb.Topics CoveredThe origin of Away AgentsStart business with University of Minnesota internRent apartment in downtown Minneapolis July 2016Made $5K in first month on $1500/month leaseAutomated operations processes with GuestyExpanded to 8 units by Fall 2017The additional services Tyler offered during the Super BowlStocked refrigeratorsDrivers and bodyguardCold-weather gearHow Tyler determined pricing for the Super BowlStudied averages for last 2 yearsBased on premium end of spectrumHalf booked year in advance (15X rates)Average of $1500/night, total of $50KMinneapolis’ Super Bowl Airbnb statsEstablished Airbnbs booked out by MarchListings jumped from 600 to 4KWave of bookings in summer + 2 weeks priorTyler’s tips for creating a winning Super Bowl listingEstablish listing year in advance to build reputationCreate separate listing with ‘Super Bowl’ in titleOptimize listing to rank high on AirbnbHow Tyler finds willing landlordsResearch # of open units in advanceOffer to take off hands for permission to do STRDiscuss zoning, insurance, security, etc. up frontTyler’s advice for new hosts looking to capitalize on special eventsQuality of listing comes firstConsider offering additional servicesTyler’s experience with the Turo car sharing sitePut winter car on site, earned $900/month ($300/month lease)Added cars in Minneapolis + expanded to DenverPartner with Hassle-Free Car management teamAverage daily rate decreasing as supply growsConnect with TylerAway AgentsTyler on LinkedInTyler on TwitterTyler on FacebookResourcesGuestyTuroHassle-Free CarConnect with JasperEmail: jasper@getpaidforyourpad.comTwitter: @GetPaidForUrPadInstagram: @GetPaidForYourPad Facebook: www.facebook.com/getpaidforyourpadAirbnb News Facebook GroupTo 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.

How do you go from managing a single vacation rental to 50? Alma Bair got her start renting out her family’s luxury villa in Puerto Rico. Before long, neighbors in Dorado Beach asked her to take on their properties, and the business grew organically by word of mouth from there. So, what challenges has she faced in scaling up? How does she market and manage her listings remotely? And how is she working to customize the guest experience?Alma is the founder and Chief Joy Officer at Paradise Villas & Vacations, a short-term rental management company based in Dorado, Puerto Rico. Today, she joins me to explain how her own vacation in Puerto Rico 16 years ago grew into a vacation rental management business. She shares the challenges she has faced in scaling up, from finding a sufficient reservation management system to working with owners who cancel bookings.Alma also discusses her goal to be less dependent on third-party platforms for marketing her business and her luck in finding an outstanding hospitality professional to handle guest services. Listen in for Alma’s insight on delighting guests with a unique experience and learn why it’s beneficial to partner with a local destination management organization!Topics CoveredHow Alma got into managing vacation rentalsBought own vacation home on Dorado BeachDonated to local charity 6 weeks/yearBusiness grew from outside inquiriesHow Alma grew from 1 to 50 vacation rentalsNeighbors ask to manage their villasOrganic growth by word of mouthHow Alma gets paid for her management servicesTake percentage of revenue in most casesExperimenting with fixed income modelThe challenges Alma faces in scaling her businessScaling reservation management systemWorking with ownersHow Alma manages her calendars without softwareProcess to update manually on other platformsRemote support assistant in Philippines to helpHow Alma markets her vacation rentalsMonthly newsletter to database of 8KThird party platforms + own websiteHow Alma manages her vacation rentals remotelyGuest services professional on call 24/7Locally networked and bilingualAlma’s insight on the value of becoming a local expertMatch expectations with reality of vacationProvide offerings in related activities (e.g.: extreme adventures)Partnering with a destination management organizationAccess to analytics about marketplacePR, media outlets and social mediaConnect with AlmaParadise Villas & VacationsAlma on LinkedInResourcesKeys to BaliRené of Keys to Bali on GPFYP EP215STR Legends Live Retreat in Puerto RicoDiscover Puerto RicoVRMA International ConferencePROSTATE 1000Donate to Jasper’s PROSTATE 1000 Bike RideConnect with JasperEmail: jasper@getpaidforyourpad.comTwitter: @GetPaidForUrPadInstagram: @GetPaidForYourPad Facebook: www.facebook.com/getpaidforyourpadAirbnb News Facebook GroupTo 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.

There are any number of forums and online groups for short-term rental hosts. But Airbnb operators who manage 25-plus listings don’t seem to have a community where they can share the unique challenges of scaling and managing a vacation rental business with multiple units. Enter STR Legends Live Mastermind Retreat, an epic live event planned for this summer in Puerto Rico.A master at organizing live and online events, Eric Moeller is the host of the Airbnb Mastery Summit, a platform where he interviews top experts in short-term rentals and real estate from around the world, and the creator of Cohost Mastery. In addition, he serves as the founder and CEO of Homtel, a luxury, short-term rental leasing and hosting company out of California. Eric also happens to be helping me cohost the upcoming STR Legends Live Mastermind June 27 through July 1, 2019.Today, Eric and I explain why we organized STR Legends Live, describing the need for a community of established operators focused on scaling a professional short-term rental business. We discuss the topics covered at the retreat, who can apply, and what attendees can expect at the event—including a villa on the beach, personal chef and mind-blowing excursion. Listen in for insight around how you can benefit from the mastermind (even if you can’t attend) and learn how getting involved in a community of operators can help you grow your own Airbnb business!Topics Covered The impetus behind STR Legends LiveCommunity for established operators of multiple unitsFocus on growing professional business, finding clientsOpportunity to network + share ideas and challengesThe topics we’ll cover at the retreatBest tech to manage calendars, pricing, etc.Growth challenges, strategies to scale businessWho’s invited to apply for the eventOperators with 25+ units in position of growthProperty managers and developersThe sponsors and presenters scheduled for STR Legends LiveNoiseAware and Organized GainsTalking to Booking.com, Properly The particulars of STR Legends Live in Puerto Rico11BR villa on beach near San JuanRuns from June 27 to July 1$3500 all-inclusive fee ($1K deposit)How small operators can get involved in STR Legends LiveIntroduce lead for all-access pass to content$250 reward if lead chooses to attend Connect with EricCohost MasteryAirbnb Mastery SummitEric on LinkedInAirbnb Profit Club on Facebook ResourcesSTR Legends Live RetreatEric on GPFYP EP175Eric on GPFYP EP256NoiseAwareOrganized GainsBooking.comProperlySimon on GPFYP EP277Connect with JasperEmail: jasper@getpaidforyourpad.comTwitter: @GetPaidForUrPadInstagram: @GetPaidForYourPad Facebook: www.facebook.com/getpaidforyourpadAirbnb News Facebook GroupTo 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.