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

Do you see other short-term rental hosts as competitors or potential collaborators? It may seem counterintuitive, but connecting with other STR entrepreneurs for support can lead to opportunities for partnerships and additional income streams. And it’s that kind of abundance mentality that helped today’s guest scale from 8 to 50 units in less than a year.Aaron Kirkham is the Founder of Kirkham Kastles, a short-term rental management company based in Park City, Utah. He operates 50 properties in Washington, Idaho and Utah, leveraging a background in marketing and hospitality to scale his STR business despite a global pandemic. Aaron is also the creator of several STR service companies, including Rubbish Rollers and Vacation Rentals Cleaning.On this episode of Get Paid for Your Pad, Aaron joins me to explain how he grew from 8 to 50 units in 2020, discussing why travelers are drawn to the area and what new challenges he is facing as he scales. He shares his unique approach to solving problems in his business, describing how he collaborates with fellow STR operators and what companies he has started to support other hosts. Listen in for Aaron’s insight on managing your time as a ‘hectic host’ and get his top tips for managing units in other states.Topics CoveredHow Aaron grew from 8 to 50 units in less than a yearHigh demand in conservative area despite pandemicShow owners profit potential vs. long-term rentalWhy travelers are attracted to Utah, Idaho and WashingtonWorld-class ski resorts in winterConvention centers and Silicon SlopesWhat Aaron does to connect with other STR operatorsStart open Facebook group for help and referralsMastermind group to share processes, collaborateAaron’s approach to solving problems in his businessFind solution for selves, be resource for othersLeverage solution to generate new income streamWhat companies Aaron has started to support other hostsRubbish Rollers (trash to curb service)Vacation Rentals CleaningAaron’s insight on how to handle snow removal as a STR hostLandscaping companies transition to snow removalOutsource to cleaner or kid in neighborhoodThe new challenges Aaron is facing as he scales his businessFinding great team members, service providersGiving up element of controlAaron’s advice on managing your time as a ‘hectic host’Let clients go when low return on time investedCharge what you’re worth to make more doing lessHow Aaron manages units in three different statesNetwork in new location, join local groups on socialHave go-to person in place plus backup optionsConnect with AaronKirkham KastlesRubbish RollersVacation Rentals CleaningEmail aaron@kirkhamkastles.comCall (208) 252-4123ResourcesAlta Ski AreaBrighton ResortSolitude Mountain ResortVisit Ski CitySki Resorts in Park CitySilicon SlopesDinosaur National MonumentSTR Profit AcademyLegends XGet Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.comSponsorHostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

Even if you take every possible precaution, there’s still a chance that an Airbnb guest could get hurt on your property and sue you for negligence. That’s exactly what happened to Tamara Swager. So, how did she navigate such a stressful time? And what steps can you take to protect yourself should something similar happen to you?Tamara is the Founder of Swag Hospitality, a short-term rental business out of Los Angeles County, California. She manages six properties, most of which are located in STR-friendly Long Beach, a perfect spot for travelers visiting attractions like Hollywood, Disney and Venice Beach. Tamara is also an Airbnb Plus host and active member of our STR Profit Academy.On this episode of Get Paid for Your Pad, Tamara joins me to share her unsettling experience with being sued by an Airbnb guest. She describes the incident that led to the lawsuit and walks us through the three-year process of providing information to counter the guest’s claims. Listen in for Tamara’s feedback on how Airbnb handled the situation and find out what you can do to protect yourself from litigation and prove that you’re a responsible short-term rental host.Topics CoveredWhy Tamara is crushing it right nowDisney reopening, moving into COVID orange tierSTR-friendly regulations finalized in Long BeachThe incident that led to Tamara being suedGuest fell on last step walking to car at nightDriven to medical facility by husbandWhat happened after Tamara contacted AirbnbCrawford & Company came out to take photosServed papers 18 months into processAirbnb assigned counsel on her behalfProvided information to counter accusationsCase resolved after 3 nerve-wracking yearsWhat Tamara has done to prevent future incidentsAlready had integrated lighting on every stepAdded reflective caution tapeTamara’s feedback on how Airbnb handled the situationFrustrating not to have point of contactAttorney assigned to case very responsiveCase settled by Airbnb (didn’t use STR insurance)The lessons Tamara learned from being sued by a guestLimit personal liability by setting up LLCRespond only after processing emotionsHave security cameras where legal to do soHow to demonstrate that you’re a responsible hostUse devices like NoiseAware and FreshAirSecurity features like Nest Cam, smart locksTamara’s advice on securing short-term rental insuranceDo apples-to-apples comparison of policiesWork with homeowners to choose best optionConnect with TamaraSwag HospitalitySwag on AirbnbResourcesSTR Profit AcademyAirbnb PlusCrawford & CompanyWeGoLookAirbnb Host Protection InsuranceNoiseAwareParty SquasherFreshAirNest CamProper InsuranceCBIZ Vacation Rental InsuranceBerkshire Hathaway GUARDUSAA STR InsuranceJulie GeorgeLegends XBusiness Network InternationalGet Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.comSponsorHostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

Are you chasing property owners and investors in an attempt to scale your short-term rental management portfolio? What if you could market yourself in a way that makes new business chase YOU?Julie George is the Founder of Million Dollar Host, a platform committed to helping STR hosts scale a successful property management business. Julie grew her own Airbnb management company from zero to 130 properties in three years and earned $8M before selling the portfolio in 2019, and she shares her secrets in the book Million Dollar Host. Julie also serves as a coach with our STR accelerator Legends X.On this episode of Get Paid for Your Pad, Julie joins me to explain what you need to know BEFORE you start marketing your STR business and how to position yourself as the Airbnb expert in your community. She shares her top strategies for building strategic relationships, describing how to team up with local real estate agents and where to meet potential investors and property owners in your community. Listen in for Julie’s insight on the benefits of self-promotion and learn how Legends X can help you implement Julie’s million dollar marketing secrets!Topics CoveredWhat you need to know before you market your STR businessBusiness identity, e.g.: luxury, eco-friendly, etc.Ideal property types and guest avatarHow to position yourself as a STR expert in your communityTraditional advertising (magazines, billboards, etc.)Write series of articles on benefits of AirbnbProminent storefront and/or website for investorsHow to get more comfortable with putting yourself out thereDevelop and display creative logo or catchphrasePractice elevator pitch to explain what you offerHow to build strategic relationships with real estate agentsGo to open house for overpriced luxury propertyOffer to team up to help agent sell home as STRPrepare appraisal report re: potential STR profitOffer investors opportunity to ‘try before you buy’Julie’s strategy for meeting local investors/property ownersGive 1-minute elevator pitch at local BNI meetingBring business card and gift for each attendeeConnect with JulieMillion Dollar HostMillion Dollar Host on FacebookMillion Dollar Host on InstagramJulie on TwitterJulie on LinkedInEmail julie@milliondollarhost.com.auResourcesLegends XJulie on GPFYP EP300Julie on GPFYP EP346Million Dollar Host: Julie’s AirBnb Portfolio Earned Over a Million Dollars in Her First Year … Yours Can Too by Julie GeorgeGet Paid for Your Pad: How to Maximize Profit from Your Airbnb Listing by Jasper Ribbers and Huzefa KapadiaAirDNAClubhouseKeys to Kelowna on InstagramBusiness Network InternationalGet Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.comSponsorHostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.

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Yesterday we announced our brand new virtual event, From Host to Successful Hospitality Brand. If you haven’t registered yet, do so now, because we’re opening up our private FB group where we’re going to start dripping out free content. In addition, you can connect with the experts that will be leading the training prior to the event. A bit more about the event...There are thousands of types of homes in the world. One home can look completely different from another one. But, every home has doors, windows, a foundation and a roof. We have discovered that this is true for successful short-term rental companies too. They are all different, but there are three ingredients they all have:1) A clear VISION. 2) Streamlined OPERATIONS. 3) A focus on SCALE.And we're going to dive deep into these three pillars on our upcoming LIVE virtual event on March 18th-19th.Click here to grab your seat (it's free)You don't want to miss this one! Hosted on Acast. See acast.com/privacy for more information.

As you know, Eric and I have been working together for a few years now building different products and events for the short-term rental industry.To better serve our mission, we've officially partnered to bring all of our brands and products under one umbrella.We're calling our company...Overnight Success! If you're reading this, you're one of the first people to hear about our rebrand.. Through Overnight Success, we're able to drive more value, and help hosts from around the world achieve freedom through building the hospitality businesses of their dreams. We have a lot in store for you and the S.T.R. industry this year, and we're excited to be on this journey with you.Stay tuned! Check out our new site at www.overnightsuccess.io. Hosted on Acast. See acast.com/privacy for more information.

As of December 7, 2020, Airbnb hosts who use third-party property management software are required to use Simplified Pricing (unless your listings are in the US, Canada, Mexico, Argentina, Taiwan, Uruguay or the Bahamas). This means there will be no service fee visible to the guest, and the host will pay 15%. So, how can you adjust your pricing to accommodate this new policy?Anurag Verma is the Cofounder at PriceLabs, a dynamic pricing tool and market data resource for short-term rental hosts. PriceLabs uses a data-driven approach to help STR operators manage pricing and stay restrictions, growing their revenue in the process. Anurag has eight years of experience in the travel industry, and he is an expert in the field of in revenue management.On this episode of Get Paid for Your Pad, Anurag joins me to discuss how to adjust your rates to accommodate the new 15% Airbnb host fee. He explains how the length of stay and lead times have shifted in the COVID era, offering advice for STR hosts around how to optimize revenue in an uncertain time. Listen in for Anurag’s insight on leveraging market data to make pricing decisions and learn how YOU can benefit from using the PriceLabs revenue management platform!Topics CoveredHow to adjust your rates to accommodate the 15% host feeRaise prices in order to keep your payout the sameGo through the math carefully, use PriceLabs blogThe two STR variables that have changed in the COVID eraLength of stay increase (double in some locations)Lead time shorter, booking rush 2 to 3 weeks outAnurag’s advice on planning if you’re in a summer marketGo ahead and raise rates for summerMonitor market data, lower prices as necessaryWhat STR hosts are doing to generate more bookingsOffer discounts to guests who extend their stayShare discount code with previous guestsWhy STR guests have more flexibility right nowAbility to do remote work from anywhereNo penalty to change flightsAnurag’s tips for optimizing your revenue in 2021Use market trends to adjust last-minute pricingDon’t discount TOO much and don’t panicExperiment with one property to see what worksHow PriceLabs’ Market Dashboard feature worksEnter address and select radiusReceive email as trends changeHow to use market data for strategic pricing decisionsWhat kind of bookings are happening?Am I getting that kind of booking?Will I benefit from that kind of booking?How can I attract bookings like that?The benefits of leveraging the PriceLabs platform$10 flat fee for Market DashboardDynamic Pricing based on # of propertiesConnect with AnuragPriceLabs [Code GPFYP]ResourcesSTR LegendsAirbnb’s Simplified Pricing GuidelinesPriceLabs’ Blog on Adjusting for the 15% Host FeeJasper’s Price Adjustment CalculatorPriceLabs’ Market DashboardsGet Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.com Hosted on Acast. See acast.com/privacy for more information.

We all know that you can save money by buying in bulk. And most short-term rental hosts do try to negotiate discounts when we purchase multiple mattresses, rugs or couches for our units. But what if you could leverage the purchasing power of, say, 50,000 STR hosts AND have someone else do the negotiating for you? What if you could get up to 75% off the furniture and amenities you need to set up and manage your Airbnb units?Jeff Iloulian is the Cofounder and CEO of HostGPO, the first international group purchasing organization for the short-term rental industry. Jeff’s team helps professional vacation rental managers save time and money by offering access to exclusive deals on furniture, mattresses, linens and STR amenities. Jeff has nearly ten years of experience as a host himself, running as many as 150 units in Southern California.On this episode of Get Paid for Your Pad, Jeff joins me to discuss the benefits of joining HostGPO, sharing the conditions for becoming a member and some of the brands HostGPO partners with. He walks us through the process of ordering through HostGPO and explains the minimum requirement for purchases. Listen in for Jeff’s advice for hosts moving into 2021 and learn how you can save up to 75% on furniture and amenities for your STR units!Topics CoveredJeff’s advice for vacation rental managers moving into 2021Be strategic in choosing marketsFocus on professionalism, unit integrityHow Jeff thinks about the trend toward secondary marketsTemporary thing caused by COVIDDrive-to destinations will be popular for 3-4 yearsHow hosts can save up to 75% through HostGPOJoin pool of professional hosts (negotiate as group)Get discounts on furniture, mattresses, linens, etc.The cost and conditions of joining HostGPOFirst year free (fee will depend on # of units)Must have at least 3 STR unitsSome of the brands HostGPO partners withWilliams-Sonoma, West Elm and Pottery BarnHelix Sleep, Brooklinen and Standard TextilesWorld Amenities and Public GoodsThe requirements around minimum purchasesNo minimum amount for most vendorsSome partnerships geared toward larger ordersHow much hosts save through HostGPOAverage member saves 50% on new unit setupDiscounts range from 35% to 75%The benefits of joining HostGPOPurchasing power of all 50K membersNo commitment to buy through groupProducts for high-end or value unitsAccess to hospitality-optimized goodsStill allows for individualityDiscounts already negotiated for youHow it works to order products through HostGPOSome vendors offer coupon codeOthers require purchase orderHow HostGPO’s conditions differ from buying full-priceSame product warrantiesReturn policies waived in some casesWhat Jeff wishes he would have known from the startDon’t be too conservativeSet up better quality unit for much higher returnConnect with JeffHostGPOResourcesSTR LegendsEric MoellerHost GPO’s FAQ PageHost GPO’s List of Vendor PartnersEmail jasper@getpaidforyourpad.com Hosted on Acast. See acast.com/privacy for more information.

Travel has changed in the pandemic era. While it’s harder to make plans in advance, many are taking advantage of the ability to work from anywhere and driving to nearby sun-and-snow destinations. So, what can we do to learn how our particular market has changed and adjust our pricing to take advantage of these trends?Andrew Kitchell is the Founder and CEO of Wheelhouse, a platform designed to help short-term rental hosts manage their units as professionally and efficiently as a major hotel. The Wheelhouse software offers revenue management tools and market insight reports to support STR operators in creating a custom pricing strategy that works for their business. Andrew is a serial entrepreneur with more than a decade of experience building startups in the vacation rental and real estate data space.On this episode of Get Paid for Your Pad, Andrew joins me to discuss how COVID is driving travel trends in 2021. He describes how lead times have shifted, explaining how to analyze lead time data for your market and adjust your pricing accordingly. Listen in for Andrew’s insight on how length-of-stay patterns have changed and learn how to leverage dynamic minimum stays to fill gaps in your calendar and maximize your revenue in the new year!Topics CoveredHow COVID is driving travel trends in 2021Harder to plan in advance = shorter lead timesAbility to work from anywhere = longer staysHow Andrew defines lead time for short-term rentalsHow far in advance guests book your STRBest way to see how market values your propertyHow to analyze lead time data for your marketCompare your lead times with market averageSelling too far in advance means it’s underpricedHow lead times have changed in 2021General trend to shorter lead times (< 20 days out)Popular drive-to destinations = longer lead timesWhat Airbnb host accommodations are earning more revenueFlexible cancellation policyPet-friendly unitsHow length-of-stay patterns have changed in 2021Guests staying longer in most marketsTrend toward extended bookingsHow to maximize STR revenue with dynamic minimum staysDon’t take short bookings far in futureSet minimum slightly higher than market averageDecrease minimum stay as dates get closerHow to deal with gaps in your STR calendarOffer discount for guest staying just before gapUse Wheelhouse to auto adjust minimum stayThe new features available through WheelhouseMarket Reports came out Q4 of 2020Beta testing Competitive Set ToolConnect with AndrewWheelhouse [Referral Code PAD]Email andrew@usewheelhouse.comResourcesAndrew on GPFYP EP365Pet-Friendly STRs on GPFYP EP358Wheelhouse Market ReportsSTR Legends MastermindAirbnb Cancellation Policy TrendsAndrew’s Demo VideosEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.