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

People tend to strictly focus on scalability but we have to work backwards and focus on the vision, the brand and feedback to continue to improve it. Without that, things fall apart. So, what will really scale your rental business? And what can you do to maintain that growth in 2022?On this episode of Get Paid for Your Pad, Eric and I explain why focusing on scalability is not profitable on it’s own, sharing what every company really needs to scale a business in 2022.We weigh in on what a valuable airbnb business model looks like for 2022 and how branding is one of the biggest things to focus on and maintain when scaling.Listen in to understand why focusing on scaling alone won’t help your business and learn how to make more profit with not only more listings but better listings.Topics CoveredHow much the demand for short term rentals has increased and whyEric’s insight on the shift in destination spots for rental businesses Why many people still choose hotels over airbnb rentalsWhy we focus on building our brand as a host and the impact it has on airbnbs that aren't doing that Eric’s insight on how to successful build a brand as an airbnb hostThe importance in focusing on sustainability rather than scalability aloneThe value that will be provided at the More Listings, Higher Profits Training The 3 main pillars every company needs to really scale a business in 2022The transition from a business manager to a business ownerOvernight success is all about systemsResources   Legends X STR AcceleratorSTR Legends MastermindMore Listings, Higher Profits TrainingHostGPO - Short Term Rental Group Purchasing OrganizationGet Paid for Your Pad Email ListLegends X Short-Term Rental Accelerator STR Legends MastermindSubscribe to GPFYP on Apple Podcasts Email jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

In the summer of 2021, Matt Durian was the epitome of a Hectic Host, running around like a chicken with its head cut off to keep up with the demands of managing several short-term rental listings.Matt and his wife Bruna were overwhelmed and didn’t have the bandwidth to add any more properties to their portfolio. But fast forward just a few months, and Matt is much less stressed. He’s added two new units and is in the process of onboarding two more. So, how did he go from Hectic Host to Rising Star in such a short time?Matt is the Cofounder and CEO of The BNB Way, western North Carolina’s premiere Airbnb property management and concierge company. He has a long history as a hospitality entrepreneur, running a personal concierge service for residents of a luxury resort community for a number of years before getting into vacation rentals in 2019.On this episode of Get Paid for Your Pad, Matt joins me to share his journey from Hectic Host to Rising Star, describing how The BNB Way was consuming his entire life when he joined the Legends X STR Accelertor last September.Listen in for Matt’s insight on the life-changing benefits of connecting with the STR Legends community and designing an Airbnb business that leaves space to enjoy your life!Topics Covered How Matt’s history in hospitality centers around the concierge modelWhy Matt shifted from rental arbitrage to the management model during the pandemicHow Legends X helped Matt transition from business manager to business ownerThe most important steps Matt took to become a Rising StarHow the VOS framework helped Matt dial in who he wants to serveHow the Legends X Playbook allowed Matt to build a team and start delegating tasksUsing the franchise prototype to scale your STR business to any level you wantThe benefits of connecting with a community of hosts who hold you accountable, answer questions and inspire you to dream bigger Designing a short-term rental business that allows you to enjoy lifeConnect with Matt DurianThe BNB Way The BNB Way on InstagramResources  Legends X STR AcceleratorThe E Myth: Why Most Businesses Don’t Work and What to Do About It by Michael GerberThe Founder Steve Jobs Commencement Speech at Stanford STR Legends MastermindGet Paid for Your Pad NewsletterEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

Airbnb had a record-breaking Q3 in 2021. And based on current economic and cultural trends, we think the short-term rental industry is in for an even bigger year in 2022.So, what is going on in the world that influences your STR business? And what can you do to capitalize on these trends and have a record-breaking year of your own?On this episode of Get Paid for Your Pad, Eric and I explain why 2022 is going to be a huge year for short-term rentals, sharing Brian Chesky’s thoughts on the future of travel and describing how the trend toward working from home is likely to impact the industry.Listen in to understand why we’re all-in on turning vacation rentals into unique, modern STR experiences and learn how to use feedback from your Airbnb reviews to promote your listings and identify new investment opportunities!Topics CoveredBrian Chesky’s insight on why the future of work is the future of travelBrian Chesky’s tweet asking the Airbnb community for feedbackHow the popularity of local travel is changing STR guest expectations Some of the STR startups that raised big money in 2021Our plans to raise money through investors and grow Freewyld in 2022How inflation is inspiring investors to put money in short-term rentals How the shift away from crowded hotels favors the STR industryResources   Why the Future of Work Is the Future of Travel, with Airbnb CEO Brian Chesky on Decoder with Nilay Patel Owl Labs State of Remote Work SurveyBrian Chesky’s Tweet GPFYP: How to Maximize Profit from Your Airbnb ListingAvantStay’s $160M RaiseHomeRoom’s $1M RaiseUS Inflation RateJason Hartman on GPFYP EP370citizenMGPFYP Email ListLegends X Short-Term Rental Accelerator STR Legends MastermindSubscribe to GPFYP on Apple Podcasts Email jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

There is a surprisingly high demand for short-term rentals in and around military bases—and a lack of inventory.But can you build an Airbnb business that caters primarily to military families? And how do you market to such a specialized niche?Peter Shull serves as Business Development Manager at Patriot Family Homes, a veteran-owned and operated business that offers affordable short-term and vacation rentals. The Patriot team of veterans and military spouses is uniquely aware of the needs of traveling families and professionals, leveraging their expertise to grow from a single bedroom to 200-plus units in just three years.On this episode of Get Paid for Your Pad, Peter joins me to discuss how Patriot Family Homes got into the military family niche and explain how the leadership skills he learned in the armed forces translate to building a business. He shares the business development strategy his team uses to acquire listings in non-traditional vacation rental markets, describing what he looks for in a STR property and how the Patriot team developed systems to operate at scale.Listen in for insight on finding a ground team of dependable people you can trust in a new market and learn how Patriot Family Homes markets to military families looking for a short-term rental or STR investment property.Topics Covered How Patriot Family Homes got into the military family niche and grew to 200 doors in 3 yearsHow guests benefit from the PFH team being made up of veterans and military spousesThe business development strategy Peter’s team uses to acquire utility properties in non-traditional vacation rental marketsWhat Peter looks for in a STR property and the neighborhood where it’s locatedHow Patriot Family Homes helps clients find homes to buy as short-term rental investmentsPeter’s insight on the systems you need to operate 200 unitsWhy the quality of the STR property itself is less important than the guest interactionPeter’s advice on finding a ground team of dependable people you can trust in a new marketConnect with Peter ShullPatriot Family Homes Email peter.shull@patriotfamilyhomes.com Call (423) 210-4431Resources  Get Paid for Your Pad: How to Maximize Profit from Your Airbnb Listing by Jasper Ribbers and Huzefa Kapadia ExpensifyGuestyBill.comExtreme Ownership: How US Navy SEALs Lead and Win by Jocko Willink and Leif BabinGet Paid for Your Pad NewsletterEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

The partnership between Eric and I began three years ago when I suggested we start a short-term rental mastermind. Since then, we’ve built out the Overnight Success short-term rental training business and launched the Freewyld hospitality brand.  And in order to keep growing and crushing our goals for these joint ventures, we make time to reflect on what’s going well and what we want to accomplish moving forward.On this episode of Get Paid for Your Pad, Eric and I sit down to celebrate our wins in 2021 and share what we’ve got on the agenda for 2022.We discuss what we learned about hiring as our team grew in 2021 and describe the leadership and communication skills we’re focused on developing in the new year.Eric and I recognize the 100% success rate of our Legends X students in the last 12 months, explaining how we’re fine-tuning the program for 2022 and bringing back the in-person STR Legends Mastermind.Listen in for insight on how we’re planning to add two new properties to the Freewyld portfolio this year and find out how YOU can be part of our Airbnb journey in 2022!Topics CoveredWhat we learned about hiring as we doubled our team in 2021The leadership and communication skills we’re focused on developing in 2022How the diversity on our team informs the way we step up as leadersThe 100% success rate of our students in Legends X and what differentiates it from other STR training programsHow we launched the Freewyld hospitality brand in 2021Our goal to raise $10M and buy 2 additional properties in 2022How we’re fine-tuning Legends X based on our experience with FreewyldWhy our programs focus on supporting Hectic Hosts, Rising Stars and STR Legends through community and accountabilityThe in-person Legends Mastermind events we’re bringing back in 2022Why we’re all in on the podcast and our daily newsletter in 2022Resources   Get Paid for Your PadOvernight SuccessLegends X Short-Term Rental Accelerator STR Legends MastermindJocko Willink Tony Robbins Business MasterySubscribe to GPFYP on Apple Podcasts Email jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

The pandemic initiated a boom in the staycation market, creating an influx of new Airbnb users and a demand for contactless check-ins. So, how do we communicate clearly with our guests when they’re new to the platform and we can’t meet them in person?What can short-term rental hosts do to up our game when it comes to guest communication?Andy McNulty is the Cofounder and CEO of Touch Stay, a software service enabling Airbnb hosts to create digital guidebooks for their guests. Touch Stay had its best year to date in 2021, growing to serve 17,500 STR properties.On this episode of Get Paid for Your Pad, Andy joins me to share his top Airbnb guest communication tips for 2022, exploring how the younger generation consumes information and what that means for short-term rental hosts.We explain why it’s crucial to communicate in a way that’s comprehensive, visually appealing and easy to digest, challenging you to offer guests both text and video options.Listen in for insight on building a one-on-one connection with STR guests and learn when to send travelers your digital guidebook and how to communicate its importance.Topics Covered How the pandemic affected the STR industry in general and Touch Stay specificallyWhat the influx of new Airbnb users and the demand for contactless check-ins means for guest communicationWhy it’s important to communicate what’s unique about staying with youThe advantage STR hosts have in terms of building a one-on-one connection with guestsHow the younger generation consumes information (and what that means for STR hosts)Why it’s crucial to communicate in a way that’s comprehensive, visually appealing and easy to digestHow communicating in a succinct way appeals to guests of all agesWhy Andy recommends giving your guests video and text options When to send guests your digital guidebook and how to communicate its importanceHow to improve guest communication by putting yourself in the shoes of your guest avatarConnect with Andy McNultyTouch Stay [Discount Code GPFYP10] The Guest CastResources  Andy McNulty on GPFYP EP085VRMA ConferenceAlissa Cincotta on The Guest Cast EP001 Example Touch Stay GuidesSTR Legends MastermindLegends X 90-Day STR AcceleratorGet Paid for Your Pad NewsletterEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

2021 has been a unique year for the short-term rental industry. David Jacoby is the Cofounder and President of Hostfully, an all-in-one property management platform that helps STR hosts embrace automation and deliver an exceptional guest experience.On this episode of Get Paid for Your Pad, David joins me to share his top takeaways from the Hostfully 2021 Hospitality Report, exploring where STR reservations are coming from and why some markets report more competition in 2021—while others report less. Listen in to understand why cleaning and turnover management is an ongoing challenge and find out what short-term rental hosts plan to do to increase their revenue in 2022!Topics Covered Some STR markets report more competition in 2021 while others report lessSecondary markets have more competition and increase in revenueHosts in large cities have less competition (COVID, regulations)What hosts count as their most valuable software tool in 2021PMS was largest category, especially among large property managers56 different tools mentioned (e.g.: Zapier, Zoho, Canva, Trello, etc.)What the Hostfully survey reveals about the value of dynamic pricingLarge property managers use more and report higher incomeLosses significantly less among hosts using dynamic pricingWhy cleaning and turnover management remains a pain point for STR hostsChallenge to implement and track new cleaning protocols in 2020Shortage of good, reliable contractors in 2021Connect with David Jacoby Hostfully 2021 Vacation Rental Industry Stats Report Email david@hostfully.com Resources  Homes & Villas by Marriott InternationalPlum GuideCHBOBud and BreakfastZapierZohoGoogle WorkspaceMicrosoft OfficeWheelhouseHostfully Studies, Trends & Industry ReportsSTR Legends MastermindLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

How do you set up a new Airbnb listing to earn a profit right away?Kelvin Mah is the Founder and CEO of Rankbreeze, the premiere Airbnb optimization toolkit and rank tracker. Rankbreeze offers software and services to help STR managers improve search visibility and conversion on Airbnb.On this episode of Get Paid for Your Pad, Kelvin joins me to share his five-step framework for faster profits, explaining how to decide where to invest in a new Airbnb listing and when to launch a new property.He offers advice on choosing your first five photos and deciding what to say in your listing description, challenging hosts to include amenities and points of interest to optimize a title for search.Listen in for Kelvin’s insight on how to price a new Airbnb listing and learn his top strategies for ‘throwing your weight around’ to get more bookings at your new STR property!Topics Covered Kelvin’s 5-step framework for faster profitsWhere to investWhen to launchWhat to use in title and descriptionHow to price property Throw your weight around How to decide where to investConsider local short-term rental regulationsChoose market with strong future demandConduct top-level city search on AirbnbHow to decide when to launchResearch overall demand on Google TrendsLaunch 30 to 60 days before busy seasonKelvin’s advice on what to use in your listing titleStrong call-to-action (e.g.: new, renovated)Include amenities and points of interestHow to choose pictures for your listing photo gridUse 5 BEST photosVariety is helpfulKelvin’s advice on pricing your new propertyStart with ‘break-even pricing’Raise prices for weekends and busy seasonConsider dynamic or signal-based pricingKelvin’s top strategies for getting more bookingsAdjust photos based on seasonLeverage SEO campaignsOffer freebie for weekday bookingSplit property into parent and child listingsAsk guests to come earlier or stay longerInvite guests to return to propertyConnect with Kelvin Mah RankbreezeResources  Kelvin Mah on GPFYP EP276 Rankbreeze AirReview Chrome ExtensionGoogle Trends 11 Tips for an Invincible Airbnb Pricing StrategyAirbnb Smart Pricing ToolSTR Legends MastermindLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

At the end of each session of Legends X, we ask our students for feedback around what aspects of the program were most beneficial. And the takeaways for this cohort were much like that of our first student group. On this episode of Get Paid for Your Pad, Eric and I go over the feedback from our latest group of Legends X students, describing the four aspects of the course they found most valuable.We discuss what our students like about the Legends X playbook and our customized systems, explaining why Airbnb hosts should document everything we do and organize that information in one place.Listen in to understand the value in designing a host vision map and learn how we chose the tools included in our Legends X tech stack to help you scale your STR business!Topics CoveredThe purpose of our Legends X playbook Index for all documents and systems within companyDefines role each team member plays in systemsSTR hosts benefit from building systemsGives time back to work ON business (not in it)New team members up and running in < weekHow we support Legends X students around STR technologyRoadmap of tech needed at each stage of businessTrainings on how to use recommended toolsOur top advice on choosing technology for your Airbnb businessCommit to using new tool for 6 to 12 months Look for technology that allows you to scale Resources   Legends X Short-Term Rental AcceleratorOvernight SuccessStrawberry Creek VillageClickUpLoomThe E Myth by Michael Gerber Clockwork: Design Your Business to Run Itself by Mike MichalowiczScaling Up: How a Few Companies Make It ... and Why the Rest Don’t by Verne HarnishTraction: Get a Grip on Your Business by Gino WickmanWheelhouseBreezewayReview GPFYP on Apple Podcasts Email jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

What is the best way to create long-term wealth?As Airbnb hosts, we can leverage our expertise running a short-term rental business to acquire properties of our own. But what does it look like to buy a STR property? How, exactly, do you finance a purchase like that?Juan Carlos Morales is the serial entrepreneur and Airbnb investor behind Capital Jetset, a beachfront vacation rental company out of San Juan, Puerto Rico. He leveraged the rental arbitrage model to start his business and has since added management units and purchased properties of his own to build a portfolio of 30 STR units.On this episode of Get Paid for Your Pad, Juan Carlos joins me to explain what differentiates a business owner from a manager and describe how he built a team of 13 employees to run Capital Jetset.Listen in for Juan Carlos’ insight on why it’s a good idea to buy STR properties and learn how to finance YOUR first Airbnb property in the ownership model!Topics Covered Juan Carlos got into Airbnb by mistakeListed spare room on Airbnb when roommate moved outTried listing whole place, 3 months booked in 1 night Breakdown of Juan Carlos’ hybrid business model85% rental arbitrage10% management5% ownershipJuan Carlos’ unique approach to rental arbitrageTarget properties sitting empty for months/years Offer to invest $10K and renovate unit himselfJuan Carlos’ advice on starting a STR arbitrage businessDon’t be afraid to invest your moneyBe creative and propose deal beneficial to both sidesWhy Juan Carlos decided to start buying propertiesOwners have power to raise rentProperty values increase over timeHow Juan Carlos benefits from owning STR propertiesNet worth tripled, banks take him more seriously nowControl over business affords more stabilityJuan Carlos’ plans for the future of his STR businessContinue to grow, create wealth and help peopleBuy building and small hotel, develop boutique hotelConnect with Juan Carlos Capital Jetset Juan Carlos on Instagram Juan Carlos on YouTubeResources  Robert Kiyosaki The 4-Hour Workweek by Timothy Ferriss The E Myth by Michael GerberSTR Legends MastermindLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.