Thanks For Visiting

Welcome to our very first Ask Me Anything (Ask Us Anything?) episode! Each week we’ll answer your questions on STR, real estate, OTAs, and everything in between.Paige asks:With a pending recession, does it still make sense to invest in short term rentals, if I'm financially able to.Troy asks:What data do you recommend using or filtering through when looking at short term rental data (for example, AirDNA), and also, what quantitative components and criteria are most useful when you're acquiring a new property?Matt asks:I have just purchased a home which I believe is a three for one: the entire house is a four bedroom, one of those bedrooms could be considered a mother-in-law suite, and it's got a beautiful outdoor backyard area. What is the best way to list this, and to explain to guests that this is a shared property and that each listing is separate?Thanks to everyone who submitted questions. To hear your voice on the show and send a question to Sarah & Annette, visit Speakpipe.com/ThanksforvisitingAMAThanks for Visiting is produced by Crate Media.Mentioned in this episode:Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.

Avery Carl is the author of ShortTerm Rental, Long Term Wealth: Your Guide To Analyzing, Buying, and Managing Vacation Properties, and the host of "The Short Term Show" podcast. Avery went from a 37k salary to a real estate investment portfolio of 100 doors in 5 years through strategically investing in short-term and vacation rentals.This strategy allowed her to grow her portfolio much more quickly than starting off with traditional long-term rentals. The Short TermShop has helped over 4,500 families create generational wealth through real estate investing.Resources:Avery’s Book, ‘Short-Term Rental, Long-Term Wealth’@TheShortTermShop on InstagramKeeping It Real PodcastThe Short Term Shop on YouTube#STRShareSunday: @bayview_bigfootThanks for Visiting is produced by Crate Media.Mentioned in this episode:Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.Minoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.

Meredith Cowley is a passionate Social Worker turned Short Term Rental Entrepreneur. Following the birth of her son, then a diagnosis of breast cancer, Meredith re-evaluated her priorities and found a business that aligned with these.Meredith strives to keep a healthy balance between family life and a flourishing hospitality and real estate gig. Sometimes she gets it right, but it's always a work in progress. The important part is making decisions - even in business - that are centered around what’s best for your family, instead of the other way around.For Meredith this may look like keeping a 20-hour work week and delegating on-site work to her team, or balancing the business after her partners stepped away, or pivoting from areas like arbitrage to property management as her business continues to evolve.Based in sunny Australia, she has grown a boutique STR business where she helps guests and property owners create memories. She is also a contributing author in the international best selling book Hospitable Hosts.Resources:Custom BnBCash Flow Positive Facebook GroupHospitable Hosts BookMeredith on LinkedIn#STRShareSunday: @casa.cochectonThanks for Visiting is produced by Crate Media.Mentioned in this episode:Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.Minoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.

With more than 35 years of combined experience in vacation rentals, Alex Husner and Annie Holcombe have teamed up to connect the dots between inspiration and opportunity, seeking to find the one story, idea, strategy or decision that led to their guests' big A-HA moment. As legacy operators of vacation rentals, Alex and Annie believe in direct bookings, and rental owners who are currently only using OTAs like Airbnb or Vrbo can benefit from creating their own direct booking platform. In fact, they’re bullish on diversifying their properties to ensure they’re listed on multiple platforms and are flexible for different types of guests.We also discuss the real estate and rental bubble and when it might burst, consolidation amongst rental properties, and what legacy vacation rentals can learn from newer short-term rentals (and vice versa).Resources:AlexAndAnniePodcast.comListen to Alex & Annie on Apple PodcastsFlip.to #STRShareSunday: @thechalaframeThanks for Visiting is produced by Crate Media.Mentioned in this episode:Minoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.

Rose and her husband Brian own Your Family's Place. Their properties specialize in hosting multigenerational families and groups traveling together. Featuring large sized properties on expansive private acreage, guests experience vacations that are "open and go" with onsite amenities designed with children and family in mind.She’s a true owner-operator for her rentals, handling turnovers herself (with the family’s help), managing her business with an organizational chart, and making up for gaps in listings by booking photo shoots on her properties.Rose says, “You’re either on vacation or you’re having a trip,” and she helps all of her guests to have a true vacation with all of the amenities at Your Family’s Place.Resources:YourFamilysPlace.comInstagram: @YourFamilysPlace_The importance of SEO and influencers on Episode 149 with Elise ArmitageOwnerRez PMS#STRShareSunday: @cali.villasThanks for Visiting is produced by Crate Media.Mentioned in this episode:Minoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.

Good design is an example of “ONE thing” that will help your listing stand out. Implementing professional staging and unique decor in your short-term rental can lead directly to more bookings and higher revenue.Gone are the days of just throwing a rental together and hoping for listings. The industry is getting more competitive as boutique hotels and experience stays are gaining popularity. Focusing your short-term rental around good design principles is a near guarantee for success in the competitive STR landscape.Tips for design in your STR:Use wallpaper (temporary or not) to create a bold accent wallDon’t skimp on the often-overlooked elements like light fixtures and live plantsSave money on artwork by getting printables on Etsy and printing & framing it yourselfCreate timeless backdrops like subway tile and white walls which give you freedom to adapt your listing over time without turning it into a construction projectAre you an aspiring designer, or know someone who is? Reach out to us on Instagram!Resources:See us in Las Vegas for RESACON: Real Estate Staging Association, July 21-23Design Files: interior design business software#STRShareSunday: @EverwoodsGroupThanks for Visiting is produced and published by Crate Media.Mentioned in this episode:Minoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.

We recorded this episode right after getting off the plane from Nashville, where we attended STR Wealth Conference. It was so amazing seeing our friends, colleagues, and listeners face to face. On this episode we’re sharing some of our big insights from the conference, and some key takeaways that our members also shared from their conference experience.Setting your listing apart from the competition might not require an expensive refab; decor and interior design can help your listing pop and lead to more revenue.STRs are not passive income! Even if you create the minimal workload, you still have to check in on your assets, your team, and have some oversight on your property.Electric car charging stations are becoming more and more standard for rentals. You only need one per property (if you have multiple rentals on the same property); and, this is a lucrative addition as you can make extra money from travelers who may be looking for charging spots while on the road.Take advantage of local tentpole events: everything from small conferences all the way to the Superbowl create prime dates for bookings. Consider taking your listing off of OTAs for those dates and leverage your direct bookings instead.Hire a tax professional that specializes in short-term rentals, or at least one that’s experienced in real estateSergio, @JungleHouse.AirbnbHe has lots of live plants in his property, and to keep up with it, he has a service (aside from turnover team!) that comes in to care for the plants every other week, even while guests are staying. They’re made aware of this when booking, and often don’t mind because the plants themselves are a selling point for the property.Stacy, @LaCroixCovingtonMake your first impression with a guest within the first 10 minutes of them arriving. If they have any hiccups during their stay, they’ll typically be more forgiving if they had a great check-in experience.Mark, BoostlyAsk yourself this question – do you work for yourself, or do you work for Airbnb? If you don’t have a direct booking strategy, get one, and start keeping 100% of your rental earnings.Miranda, @HomeGrownStaysIf you do one thing after leaving this conference, it should be trying out Rankbreeze, which helps you A/B test and optimize your listing for rankings in Airbnb.Mike, @WanderChatt Network and align yourself with the right people; you are the average of the 5 people you spend the most time withLori, @GoldenDeerEscapesRemind yourself why you’re putting in all this hard work with the power of visualization. Picture your perfect day and reverse engineer how your STR will help you achieve it.Resources:#STRShareSunday: @WoodYouStayThanks for Visiting is produced and published by Crate Media.Mentioned in this episode:Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.Minoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.

This episode may be a bit controversial, but we’re here for it. There is extra work and extra costs associated with any short-term rental, and we believe this is work you should be charging for. After all, you’re not a hotel; if you’re running an STR, you don’t have the same flexibility as hotels do, and when extra requests lead to more work or put a strain on your team (or yourself), you should include fees to compensate for this.So, here are 3 ways you may be leaving money on the table with your STR:1. Early check-in and late check-out feesWhether you’re a solo operator with a small team or running a business with multiple properties and a larger team, early check-ins and late check-outs can interrupt your normal flow of business with your rental.If your property is ready and there’s no previous booking, absolutely accommodate your guest and let them in early. But–when you have back to back bookings and need to coordinate with your cleaning team to make early check-in (or late check-out) a possibility, you should charge for it.This comes down to your most valuable asset: your TIME. And not just your own time, but your team’s time as well, as this puts pressure on them to flip the same home in half the time. Be sure to present it in a professional manner and mention that you incentivize your turnover team, especially in situations like this. A common practice for fees is to charge by the hour, for every hour before/after the original allotted time.2. Pet feesEven well-behaved dogs and hypoallergenic pups will leave behind a bit of a mess, and takes a bit of extra cleaning to ensure your pet friendly environment doesn’t impact other guests who may not have pets.Compare your pet fee to the rate of a typical kennel or dog service at home, which are usually priced per pet, per day. For longer rentals, we suggest a monthly cap to keep the fee in check. And don’t forget to speak with your turnover team to best plan for pet cleaning, and what they might suggest charging for the extra work.3. Shipping fees for forgotten itemsIt’s a nice courtesy, but paying for shipping and packaging is still going to cost you, and can eat up your time as well. Even with clear check-out instructions for your guests, some things may get left behind, and it’s reasonable to charge a small fee to get these items back to your guest.We start with a flat $50 fee for shipping which then covers our team’s time, boxes and packaging, and the shipping costs with UPS, FedEx, or similar. If shipping was cheap and there’s money leftover from the fee, we send it right back to the guest. But, we aren’t fronting the money for sending the items back.Heart is at the center of every short-term rental, but NOT at the expense of bad business practices. The expenses associated with all of these extras add up over time. Remember: this isn’t gouging, this is you providing extra services for your guests. Including these fees in your STR will start to provide more liquidity to invest back in your properties, in your turnover team, and in your business.Resources:#STRShareSunday: @the_evergreencottageThanks for Visiting is produced and published by Crate Media.Mentioned in this episode:Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.Minoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.

Maintenance is always a hot button issue in the STR world. Let’s face it, properties are living, breathing organisms. They are constantly changing and in need of our love and attention. Unfortunately, we can’t always predict when that love and attention is needed, forcing us to schedule service, at times, during a guest’s stay.Today’s episode is all about managing the super important communication around this particular quirk of STR life. We touch on trash pickup and drop off protocols, lawn care appointments, on-site technician visits, pool and spa repairs, and refund scenarios before running down a full list of other equipment and assets which you can schedule preventative maintenance for – all in hopes of avoiding disruptions to your bookings.The key here is communication. We recommend being open with these kinds of details on your listing page and in the rental agreement itself – even pushing alert messages to on-site guests when a service appointment is coming up, just to be extra sure everyone is informed and comfortable in your space.Special thanks to Breezeway, the expert STR hub where we pulled information for today’s episode. To find out more about their amazing property management tools, book a demo at: https://www.breezeway.io/TFV.Resources:Book a demo with Breezeway#STRShareSunday: @thegreenchickadeeThanks For Visiting is produced by Crate Media.Mentioned in this episode:Minoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.

How can you ethically list your large rental twice to make the most of a bigger property?In Sarah’s example, we split a fourplex in two by installing quality door locks on the two upstairs bedrooms, and listing the property twice: one listing with 4 bedrooms for 8 guests, and the other with 2 bedrooms for 4 guests.With this setup, you can still make the most of your property based on the time of year and local events, by prioritizing the larger listing and making the smaller version unavailable. Then, open up the small listing on select dates or for last-minute bookings.To get the most out of this type of multiple listing (also called a parent-child listing):Offer a lower cleaning fee on the smaller listing versionAvoid automatically-locking door locksBe sure there aren’t major amenities behind the locked door(s), like a WiFi router or fire extinguisherLink your calendar for both listings in Airbnb so that when it gets booked, it automatically blocks off dates for the alternate listing*Flex your pricing based on booking traffic to get the most out of both listings and avoid orphan nightsSet expectations so that guests booking the smaller version of the listing are aware of the restricted areaBut, don’t forget to upsell the larger listing for guests that book and who may be interested in the extra spaceRemember: we’re not advising that you list your same home twice. Platforms like Airbnb use property addresses to help cut down on duplicate listings and prevent spam. Be sure that your two listings are unique and have different check-in instructions to avoid issues with Airbnb.*Note: things change, and Airbnb may change the calendar sync functionality in the futureResources:Our preferred Schlage lock for this setup: https://amzn.to/39zKIPR#STRShareSunday: https://instagram.com/twistedleafcabinThanks for Visiting is produced and published by Crate Media.Mentioned in this episode:Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!HBMM | Sign up today at hostmasterclass.com.Minoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.