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

Yes, we learn a lot from personal experience. But smart short-term rental hosts also learn from each other.We take advantage of our peers’ and predecessors’ experiences, implementing best practices from the very beginning.Koryn Okey is the Vice President of Client Experience at Breezeway, the leading property operations and services platform for short-term rentals. Prior to joining Breezeway in 2017, Koryn spent seven years as Director of International Accounts at FlipKey. On this episode of Get Paid for Your Pad, Koryn joins me to explain how the FlipKey model differed from that of Airbnb and explore what gives Airbnb the brand recognition it enjoys today. Koryn offers advice on optimizing your property listings, and we discuss when hosts should start using a tool like Breezeway to manage their STR portfolio.Listen in for insight on investing in tech early on in your Airbnb business and master Koryn’s top three habits of highly successful STR hosts!Topics Covered What differentiated the FlipKey model from AirbnbHost paid per lead vs. percentage of bookingGet guest contact info, communicate directly Koryn’s advice on building a listing for your STRAsk friends for honest feedbackCompare to other listings in market How Koryn thinks about choosing a lead photoConsider why guests coming to your marketPick image to stand out from competitorsWhat made Airbnb more successful than FlipKeyFocus on urban markets, young travelersMind for design = user-friendly siteHow Breezeway technology serves STR hostsOperations and guest services platformEnsure space clean, functional and safeWhen hosts should consider tools like BreezewayAny time manage listing(s) remotelyEssential once responsible for 5 propertiesThe benefit of implementing tech right awayLeverage best practices from beginningEfficiency gains, avoid mistakesKoryn’s top 3 habits of highly successful hostsInvest in technology early onBuild community (learn from others)Know what’s happening in industry Connect with Koryn BreezewayKoryn on LinkedInEmail vip@breezeway.io  Resources FlipKeyJeremy Gall on Get Paid for Your Pad EP387Breezeway’s STR Inspector CourseLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

On Monday, September 20, the US government announced that it is lifting its Covid-related ban on international travel starting in November.The new rules allow entry for vaccinated visitors from the EU, India, China and 30 other countries deemed high-risk back in March of 2020 when the ban went into effect.So, what does this mean for you and your Airbnb business?On this episode of Get Paid for Your Pad, Eric and I discuss the details of the March 2020 travel ban and describe how lifting it is likely to impact the US short-term rental market.  We look at the AirDNA report comparing STR demand in August of 2019 with August of 2021, exploring why domestic travel compensated for the loss of foreign tourists in North America—but not Europe.Listen in for insight on the increasing demand for unique Airbnb stays and larger properties and find out what recovering lead times means for your hosting business!Topics Covered The travel ban that went into effect in March 2020Travelers from EU, China and other high-risk countriesCannot enter US if from/touch ground in last 2 weeks How the rules are changing in early NovemberBan lifted for vaccinated travelersMust also have negative COVID test Why we predict a spike in travel to the US once the ban liftsEU and China huge market for Airbnb hosts in USUrban areas likely to benefit most AirDNA’s stats comparing STR demand in August 2019 vs. 2021North America down just 2%, Europe down 25%Easier to drive through states vs. countriesThe increasing demand for unique short-term rental staysUp 31% in France over last 2 yearsFarm stays, tiny homes and castles most popularWhy larger properties are recovering better than small onesTravelers bring friends/family, create own experienceOpportunity to relax and disconnect from chaosWhat recovering lead times mean for Airbnb hostsBack up to 60 days in many marketsShift in pricing strategy, increase in general demand Resources ‘After Months of Bans, Fully Vaccinated Travelers Will Be Allowed to Fly to the US’ on NPRTrump’s March 2020 ProclamationVacation Rental World SummitAirDNAAirDNA’s Report for the Vacation Rental World Summit2021 VRMA International ConferenceCampfireEric on TikTokEric on InstagramLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

You might be surprised to hear that the most downloaded episode of Get Paid for Your Pad so far this year is a show about systems. While operations is not the sexiest aspect of running a short-term rental business, it may be the most important.So, what is involved in building out the operations for an Airbnb business? And how does creating systems benefit you as a host?On this episode of Get Paid for Your Pad, Eric and I sit down to discuss the ideal operations to scale your STR business, describing how to identify the most efficient processes and save time and brain power. We explain why it’s crucial to write down everything you do for your vacation rental business and offer advice on how to start the documentation process.Listen in to understand what STR operators can learn from McDonald’s and find out why focusing on operations is the prerequisite to scaling your Airbnb hosting business! Topics Covered The 3 things you need to grow an Airbnb businessVisionOperationsScale   What we mean by the term operationsGoes beyond tech tools for automationDocument processes for every task Why it’s crucial to document your operationsEasy to hand off tasks to team membersTakes you out of business asapGives you option to sell business in future  Why we’re documenting every step of our STR takeoverUse as blueprint for future acquisitionsSmooth transition from previous owner The benefit of documenting systems from the get-goForces to create most efficient processSave time and brain power on repetitive tasksOur advice on how to start the documentation processStart with voice notes or Zoom videosTransfer to spreadsheet or document laterWhat to ask yourself as you refine your STR systemsCan I remove steps from this process?How do I simplify this system?How a STR business is like a McDonald’s franchiseGet clear on vision and build operationsMaintain brand standard in multiple locations Resources Eric on TikTokEric on InstagramHow Systems Make Your Life Easier as an Airbnb Host on GPFYP EP376Overnight SuccessThe FounderLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

Are you still trying to do it all yourself in your short-term rental business? If you’re afraid to be away from your phone even for a few minutes or worried that you forgot to follow up with a guest, it’s time to consider hiring a virtual assistant or two—before you burn out!So, what do you need to know about hiring VAs? How can they help you scale your STR hosting business?Kim Herrlein is the founder of Purveyors of Leisure, a short-term rental management company headquartered in the Coachella Valley of California. Kim’s team focuses on large group travel, combining the comfort of a vacation rental with the luxury of resort-style concierge services.On this episode of Get Paid for Your Pad, Kim joins me to explain how hiring virtual assistants has been a game changer for her Airbnb business, describing what her VA team does and how she trained them.  We discuss the common misconceptions around hiring Filipino VAs, and Kim describes the advantages of hiring virtual assistants through an agency like Sphere Rocket or Virtual Staff Finder.  Listen in to understand how hiring VAs has helped Kim transition from Hectic Host to Rising Star and find out how YOU might benefit from adding the services of a virtual assistant to your STR team. Topics Covered How Purveyors of Leisure caters to large group travelBoutique hotel with 6+ bedrooms on private resortHost weddings, retreats and corporate meetingsHost on the ground available from 9am to 9pmOffer concierge services, e.g.: private chef, massage Why Kim hesitated to hire a VA for her STR businessQuestioned that there’d be enough work for VAWasn’t organized enough to hand tasks overThe benefits Kim sees from hiring a team of VAsFresh eyes on business, implement new ideasVAs do guest communication so Kim can unplug Kim’s unique approach to training her virtual assistantsShare recurring questions + create own cheat sheetStudy for 2 weeks before communicate with guests What Kim is focusing on now that she’s built a VA teamIdentify new properties to expand portfolioDesign work and project managementWhy Kim recommends hiring VAs through an agencyGet help with hiring process, contracts, etc.Educates you on how to best use VA’s skillsThe projects Kim’s VAs are leading in her STR businessCreating social media marketing planBuild email list for existing guest outreachThe most common misconceptions about hiring Filipino VAsDon’t speak English well, can’t do complex tasksBeing taken advantage of with low wagesKim’s advice to hosts on working with virtual assistantsGive sense of ownership and autonomyCheck in regularly and ask for feedback Connect with Kim Purveyors of Leisure Resources Sphere Rocket Virtual AssistantsStayFiAvochatoSlackRebecca SlivkaHicksville Trailer PalaceVirtual Staff FinderLegends X Short-Term Rental AcceleratorGet Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

Don’t think you need a vision for your Airbnb business?If you’re trying to grow a short-term rental company, but you haven’t given any thought to what you want the business to look like, you’re likely to get caught in the trap of trying to please everyone. And in trying to please everyone, you please no one—least of all yourself!On this episode of Get Paid for Your Pad, Eric and I sit down to discuss why you need a vision for your Airbnb business, explaining how it guides the systems you build and helps you stand out in the marketplace.  We explain how a clear vision helps you attract the right team members, challenging you to get clear on your core values and invite your employees to hold you accountable.  Listen in to understand how having a vision benefits even hosts with one or two listings and learn what questions to ask yourself as you build out the vision for your STR business! Topics Covered How to create the right conditions to build your visionGet out of day-to-day routineEliminate distractions for clarity of mind Why vision is so important to an Airbnb businessUnderstand what systems and team to buildHelps see problems as opportunitiesAttracts right people to businessGives confidence to keep taking actionCultivates patience when results take timeMakes business stand out in marketplaceHow vision helps you attract the right team membersPeople who apply share core valuesHold accountable to drive vision forward Questions to ask as you build the vision for your businessWhat are our core values?What STR business model do we want to use?Who do we want to serve as guests?What is our long-term goal for the business? How having a clear vision helps hosts with 1 or 2 unitsDesign space to meet needs of target guestCharge more for premium experience Resources Legends X Short-Term Rental AcceleratorTony RobbinsDavid GogginsCan’t Hurt Me: Master Your Mind and Defy the Odds by David GogginsGet Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

Imagine having chemical sensitivities to the cleaning products used in most short-term rentals and knowing that every time you travel, you are likely to get sick.Katrina Papé solves this problem with green cleaning. And in addition to attracting travelers with multiple chemical sensitivities, she feels good about minding the health of her guests, her cleaning staff and the environment.Katrina is the founder and CEO of BnB Equity Group, an investor-focused professional vacation rental property management company based in Seattle, Washington. Katrina has 27 years of experience as an entrepreneur, and her background in business management, interior design and real estate investing give her a competitive advantage in the short-term rental space. On this episode of Get Paid for Your Pad, Katrina joins me to explain how her own sensitivities to chemicals following a health crisis inspired her shift to green cleaning—both at home and in her STR units. She discusses the prevalence of multiple chemical sensitivities and describes how to know if a cleaning product is truly chemical-free. Listen in for insight on targeting health-conscious guests and learn how to develop your own niche in green cleaning and chemical-free Airbnbs. Topics Covered How Katrina got started hosting on AirbnbWent through divorce and health crisisListed own home to save it in 2014  What inspired Katrina’s shift to green cleaningHealth crisis led to chemical sensitivitiesExtend green cleaning at home to STRs The prevalence of multiple chemical sensitivities39% of Americans suffer from MCSDifficult to travel and not be sick How to know if a cleaning product is chemical-freeGet rating at ewg.orgAvoid anything with synthetic fragrance Where to go for green cleaning productsNatural section of grocery storeBuy in bulk on Amazon or Thrive MarketThe benefits of green cleaning your AirbnbsHealth of guests, cleaners and environmentAttract health-conscious travelersHow to target guests with chemical sensitivitiesAdd green cleaning, chemical-free to titleInclude photos of products usedHow to be pet-friendly and serve guests with allergiesUse Easy Air on rugs, furniture, carpets, etc.Available through amazing-solutions.comHow STR Legends X helped Katrina build her businessSupport in choosing tech stackSystems in place to expand Connect with Katrina BnB Equity Group Resources Environmental Working GroupThrive MarketAmazing SolutionsEasy Air Organic Allergy Relief SprayLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

As we look to predict the future of short-term rentals, it’s useful to look at industry trends. Searches for unique properties on Airbnb grew 94% in the first half of 2021 compared to the same period two years ago.How can STR hosts leverage an understanding of this information to anticipate how travel will evolve and build a business that capitalizes on the trends?On this episode of Get Paid for Your Pad, Eric and I sit down to discuss the rise of unique STR experiences, explaining why properties like the Big Idaho Potato Hotel and Bolt Farm Tennessee are likely to thrive moving forward. Listen in for insight around the top travel trends in 2021 and learn how to design an Airbnb business that is built for the future of short-term rentals. Topics CoveredTrend to unique experiencesConnect with vision/soul of propertyStory to share on social media Top travel trends in 2021Live abroad (geoarbitrage)WorkcationGen Z travelersHospitality brands are the future of STRsGuests connect with valuesInvestor demandSmaller STR portfolioMaintain brand standardsPotential to sell business ResourcesThe Mushroom Dome Retreat'Inside the World’s Most Booked Airbnb’ in HustleJoshua Tree Mirror HouseAirbnb Report: Travel & Living10 Travel Trends for 2021VTrips Vacation Rentals‘Private Equity Looks to Challenge Vacasa by Backing VTrips Vacation Rental Firm’ in SkiftVacasaHicksville Trailer PalaceEric on TikTokEric on InstagramLegends X STR AcceleratorSTR Legends MastermindEmail jasper@getpaidforyourpad.comSponsorHostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

So, you’re an Airbnb host in a saturated market. The investment blogs said it would be easy to build a thriving short-term rental business in your area, but you've got a lot of competition.How do you stand out? Can you use design to create a guest experience that sets you apart?Kate Shaw and Betsy Moyer are the cofounders of Retreat Experiential Design, an all-in-one Airbnb experiential design firm that transforms Airbnb properties into true retreats. Betsy is also the creator of the home décor and interior design brand, The Estate of Things, and Kate is an Airbnb Superhost with a portfolio of 10 units near Joshua Tree National Park.On this episode of Get Paid for Your Pad, Kate and Betsy join me to share the fundamentals of experiential design, explaining how they identify the unique value proposition of a new property and design with the with guest in mind.They discuss how to succeed in a saturated market like Joshua Tree and offer advice on creating a win-win between Airbnb hosts and the local community.Listen in for insight on creating a unique guest experience on a budget and learn to leverage experiential design to stand out on Airbnb!Topics CoveredHow Kate & Betsy define experiential designDesign as if hosting in own homeUtilize every inch of propertyHow Kate & Betsy approach a new propertyIdentify unique value prop of spaceConsider guest trying to attractHow to save money on experiential designLeverage local artisans and artistsUse thrift store + Craigslist findsHow to succeed in a saturated marketCreate unique experienceConsider visitor demographicsHow to create a win-win with the local communityProvide jobs to locals, pay living wageEncourage investors to build vs. buyKate’s top tips for aspiring Airbnb hostsFocus on guest experience/happinessAct as if hosting friends and familyConnect with Kate & BetsyRetreat Experiential DesignRetreat Design on InstagramDesert Barn House on InstagramResourcesJoshua Tree National Park‘Odd Job: What’s It Like to Own the Most-Visited Airbnb in the World’ in VoxKate on AirbnbKate on InstagramThe Estate of ThingsThe Estate of Things on InstagramLegends X 90-Day STR AcceleratorGet Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.comSponsorHostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

Many STR hosts have dreams of turning their Airbnb business into a real estate investing company. But what does it look like to buy a property for short-term rental? How, exactly, does the process work?Eric and I are currently in negotiations to buy an existing short-term rental business, including its four Airbnb properties and the land they’re on. And we’re learning a lot along the way.On this episode of Get Paid for Your Pad, Eric and I sit down to share what we’re learning from buying this Airbnb property, explaining why it’s crucial to start with a vision of what you want to build and be patient through the process.We walk you through our plan to improve the guest experience and increase revenue at the STR community we’re buying, eventually refinancing the property to build personal wealth and expand our portfolio. Listen in for insight around the top three reasons to build a STR hospitality brand and learn how you can turn your Airbnb hosting business into a short-term rental investment company.Topics CoveredWhy it’s crucial to manage your emotions when you buy real estateBuy on numbers, overpay when attached to outcomeMust be willing to let go (‘this or something better’)How to recognize if the STR brand you’re buying is a good dealValue in opportunity to upgrade guest experienceIncrease revenue right away with technology, systems Our plan to increase revenue at the STR community we’re buyingImprove experience, raise prices by 30% to 50%Costs stay fixed = profit doublesIncrease number of units from 4 to 14 income streamsThe beauty of investing in real estate for short-term rentalsIncrease value of property to refinance in futureReturn cash to investors, pay selves and buy more STRs How Airbnb hosts can become STR real estate investorsUse other people’s properties to build hospitality brandLeverage profits to invest in real estate for STRsOur top lessons learned from buying our next Airbnb propertyDevelop clear vision of what you want to buildBe patient through process vs. saying YES to everything The top 3 reasons to build an Airbnb hospitality brandLifestyle businessScale to sellGenerational company (wealth to pass on) Resources Get Paid for Your Pad on YouTubeLegends X Short-Term Rental AcceleratorEric on InstagramEric on TikTokSTR Legends MastermindHicksville Trailer PalacePatrick at EXSTR ApartmentsGet Paid for Your PadEmail jasper@getpaidforyourpad.com Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

Savvy short-term rental hosts have pivoted in the last 18 months, shifting their business model to provide family-friendly accommodations that welcome kids and pets for long-term stays.  So, what does it look like to set up an Airbnb that works for large families and their furry friends? Legends X Alum Rachel Gainsbrugh is the Cofounder of Short Term Gems and the Chief-of-Staff at All Pocono Rentals. She also works as a full-time pharmacist and has a husband, three dogs and two kids! On this episode of Get Paid for Your Pad, Rachel joins me to share her top tips for hosting families with pets, explaining how she pivoted the Short Term Gems brand to cater to displaced homeowners. She offers advice on dealing with insurance companies and describes how to adjust the guest experience for families who are there because something happened to their home. Listen in for Rachel’s #1 lesson learned from participating in Legends X and learn how to provide a 5-star guest experience for pets—and the people who love them. Topics Covered How Rachel hosts and works full timeLeverage resources to delegate, outsourceOnly do revenue-generating activities Rachel’s Short Term Gems luxury brandFurnished accommodations for travelersLandlord owners, arbitrage and cohosting Rachel’s pivot to a niche guest avatarHost displaced homeowners (floods, fires)Large families with kids and pets How Rachel caters to large, displaced familiesQuality cookware, fully stocked kitchenRecreation station for kidsShift tone to provide help and support Rachel’s tips for dealing with insurance companiesAsk for deposit and have guest sign leaseHome value impacts STR stay allocationConsider hotel rate, cost of boarding pets What amenities you might provide for petsCustom linens and pet bedsDoggie doors Rachel’s #1 lesson learned from Legends XNetwork = net worthShare resources in accountability pod Connect with Rachel All Pocono RentalsRachel’s List of the Top 75 Places to InvestShort Term Gems Resources Julie GeorgeLegends X 90-Day STR AcceleratorEmail jasper@getpaidforyourpad.com  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.