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

If your Airbnb listing is a treehouse or a castle, the property itself creates a unique guest experience. But what if your space is a typical, two-bedroom condo? How do you curate a personalized experience that exceeds each of your guest’s expectations?Colin Holowaychuk is the Founder of Vamonosco, a done-for-you solution that generates new bookings and increases revenue for short-term rental (STR) managers. He also hosts his own portfolio of 200-plus Airbnb listings in Tulum, Mexico, and serves as an active participant in our STR Legends Mastermind. With 15 years of experience as a FinTech, marketing and eCommerce entrepreneur, Colin has developed an expertise in helping businesses accelerate their growth.On this episode of Get Paid for Your Pad, Colin joins me to share his process for collecting the information he needs to personalize the guest experience before, during and after their stay. He explains how he uses the guest’s priorities and preferences to curate a custom itinerary and what he does when a guest is hesitant to share their information. Listen in for Colin’s insight on leveraging dynamic content to give yourself a competitive advantage and learn what technology you need to set up an individualized email marketing campaign for each guest!Topics CoveredColin’s process for getting the info he needs to personalize the guest experienceAsk group to register ALL guests who will be stayingEmail survey re: purpose, priorities and preferencesHow Colin thinks about the potential for violating Airbnb’s terms of serviceHosts may ask questions, just need legitimate reason for doing soBe up front with guests re: purpose and make answering optionalHow Colin uses the survey information to curate a unique guest experienceWelcome email highlights local attractions + activities relevant to guestShare additional offerings based on preferences (e.g.: grocery delivery)How Colin follows up with his guests after their stayRemind about experience to spark emotional responseInvitation to return also catered to guest’s interestsWhat technology a host needs to set up this kind of email marketing campaignTypeform survey platformZapier to connect softwareAny email marketing service (i.e.: ActiveCampaign, Mailchimp, etc.)Colin’s insight on leveraging dynamic content to do custom email marketingTakes time up front to configure autoresponderSends automated, personalized emails from then onConnect with ColinColin on AirbnbVamonoscoResourcesSTR LegendsSTR Profit AcademyTypeformZapierActiveCampaignMailchimpInfusionsoftDomio‘Airbnb Suspends Domio’s Host Accounts and Listings for Allegedly Violating Its Standards’ in SkiftKelly Kampen on GPFYP EP006Kelly Kampen on GPFYP EP055Get Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.com or support@strlegends.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

Travel has changed in the season of COVID-19. Short-term rental (STR) guests are looking for a ‘home instead of home’ that they can drive to. Most are looking to escape the city and enjoy nature. And many plan to stay for an extended period and work from the property. So, how can we capitalize on this new guest persona and market specifically to the work-from-home traveler?Eric Moeller is my partner in crime at STR Profit Academy, a educational platform for vacation rental hosts, and the STR Legends Mastermind, a community of the leaders, visionaries and innovators in the STR industry. He is also the founder and host of the Airbnb Mastery Summit, an exclusive virtual event featuring premiere STR hosts and real estate experts from around the world.On this episode of Get Paid for Your Pad, Eric joins me to explain what he is looking for in a STR as a work-from-home traveler and share what he learned from looking through 100+ listings on Airbnb. He walks us through his process for finding world-class properties for business travel, challenging hosts to do regular internet speed tests and offer discounts for extended stays. Listen in for Eric’s insight on upgrading your STR to a proper coworking space and learn how to market your listing to attract the work-from-home traveler.Topics CoveredWhat Eric learned from looking at 100+ Airbnb listingsDecision-making different for work-from-home travelerLack of marketing to attract this new personaThe elements of a listing most important to work-from-home travelersStrong internet (25 Mbps minimum)Space set up for coworkingWhat STR hosts can do to market to the work-from-home travelerAdd screen shot of internet speed test to photosGet approved as workplace on AirbnbAdvertise parking space or explain where to parkOffer discounts for extended staysBe hands-on to address guest’s individual needsHow to leave clues in your Airbnb listing re: how to contact directlyCopy and paste guest review that mentions brand namePromote social media, e.g.: check us out on InstagramEric’s process for finding world-class properties for business travelSearch filters for Wi-Fi, 2BR and traveling for workNarrow down with parameters for location and priceImagine working from property through photosHow to turn your Airbnb listing into a proper coworking spaceProvide smartphone and computer chargersConsider adding printer to workstationConnect with EricAirbnb Mastery SummitSTR Profit AcademySTR LegendsSTR Legends on InstagramEric on InstagramResourcesVacasa Vacation RentalsThe Hideaway on AirbnbSpeedtestPhillipe Thibodeau on GPFYP EP344Get Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.com or support@strlegends.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

Did COVID-19 put a halt to your short-term rental (STR) business? If so, you may need to restructure your Airbnb portfolio and pivot to a new business model. A business model that will stand the test of time.Ryan Anderson is the Founder and CEO at Sojourn, an upscale STR venture that had grown to 200 active units in the US, Puerto Rico, Mexico and Colombia—until the Coronavirus pandemic devastated his business. A serial entrepreneur with a background in finance, Ryan has founded companies in the technology, craft beer and hospitality space, and today, he is downsizing his portfolio and developing a new approach to the STR business.On this episode of Get Paid for Your Pad, Ryan joins me explain why he is shifting away from the master lease Airbnb model and pivoting to an owner-operator paradigm. He shares the most important lessons he has learned through the Coronavirus crisis, describing how he plans to grow slower and wiser in the future. Listen in for Ryan’s insight on building a brand that reflects who you are as a person and get ideas for developing a STR business model that is sustainable for the long term.Topics CoveredAn overview of Ryan’s business pre-COVIDMaster lease Airbnb model in urban markets200 active units across four countriesWhat Ryan’s STR business looks like nowGave back nearly all master lease unitsLooking to invest in multifamily properties (flexible living model)Test market for camper van rentalsRyan’s predictions around the future of the master lease modelSupply has gone away in reaction to COVID shutdownThose who hang onto supply will see big returns againThe most important lessons Ryan has learned from the crisisMust own asset to acquire wealth over timeStay disciplined and focus on fundamentalsWhy Ryan had expanded to so many different marketsConcerned about regulations in USAcquired HostTonight (already operating south of border)What Ryan would do differently if he could go backGrow slower and wiser (can’t blitzscale hospitality)Enjoy journey, not so hyper-focused on destinationThe challenge of negotiating with landlords in a global pandemicDifficult to convince that business would grind to haltTense circumstances, not easy to persuade via ZoomRyan’s best advice for aspiring STR entrepreneursBuild brand that reflects who you are, what you enjoyMoney can’t be only motivator in tough timesConnect with RyanRyan on LinkedInResourcesSonderOutdoorsyOutdoorsy on GPFYP EP266Stay AlfredLyricDomioHostTonightSTR LegendsSTR Profit AcademyWanderJauntEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

Do you know exactly what items are in each of your Airbnb listings? Do you know where the breaker box is located? Or the make and model of the washing machine? The more detailed information you have, the easier it is for you (or your team) to help a guest when they call with questions. But what’s the best way to manage inventory in your STR units?Darik Eaton is the Founder and CEO of Seattle Oasis Vacation Rentals, a short-term rental management company out of Seattle, Washington. Darik got his start as a host in 2008, and he was one of the first to list on Airbnb when the platform expanded to the Seattle market in 2010. He currently operates 40 properties in downtown Seattle and manages his team remotely from his home in Kauai.On this episode of Get Paid for Your Pad, Darik joins me to share the process he uses to manage inventory in his STR units. He explains how his detailed system of documentation makes it easier for his team to provide customer support and improves the guest experience. Listen in for Darik’s insight on standardizing your Wi-Fi network names and passwords and learn how to build your own process for taking inventory of your STR listings!Topics CoveredHow Darik got into AirbnbBought ‘city pad’ in downtown Seattle 13 years agoSTR to cover cost, booked 315 nights in first yearSuccess led to property owners asking to manageHow Airbnb has changed since 2010Guests no longer expect to meet host in personCTO responded to Darik’s first help ticketThe process Darik uses to document inventory in his unitsTake pictures of every item as onboard propertyRecord serial numbers of every appliance, electronicsInventory batteries and light bulbs (when last changed)Location of breaker box, water shutoff valveStore info on cloud drive for team to accessWhy Darik requires his owners to use his design teamStandardized dishware, bedding and towelsEasy to replace items as needed (at scale)What inspired Darik’s detailed inventory systemCommon questions from guests (e.g.: operating TV)Team access to info improves customer experienceThe benefits of keeping a detailed inventory of your STRProvide top quality customer supportEasy to report stolen or damaged itemsInsurance payout in case of natural disasterRepair appliances more quicklyWhy Darik standardizes his Wi-Fi network names + passwordsLess confusing for guests, improves experienceBranding opportunity (advertise to others in building)Connect with DarikSeattle Oasis Vacation RentalsResourcesSTR LegendsBox Cloud StorageAirbnb Resolution CenterHow to Change Your Wi-Fi Network’s Name and PasswordGet Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

Why are you in the short-term rental (STR) business? A lot of us start with a goal to replace our income and eventually quit our 9-to-5. But do you want to create a new job for yourself as a 24/7 Airbnb host? Or do you want to have the freedom to travel and do other things? In that case, it’s crucial that you learn how to work ON instead of IN your STR business.Julie George is the Airbnb consultant and business mentor behind Million Dollar Host, a platform designed to help STR hosts scale a property management business. Prior to Million Dollar Host, Julie founded Host My Home, an Airbnb property management company out of Cairns, Australia. She grew the business from 0 to 130 properties in three years and earned $8M on Airbnb before selling the portfolio in 2019. Julie is also the author of Million Dollar Host: Julie’s Airbnb Portfolio Earned Over a Million Dollars in Her First Year … Yours Can Too!On this episode of Get Paid for Your Pad, Julie joins me to share her tips for working ON rather than IN your STR business. She explains the benefit of partnering with others rather than hiring employees and offers advice on how to document your processes in a playbook and then properly train and empower new team members. Listen in for Julie’s insight on developing a game plan for the future of your business and learn how to build a STR company that runs itself!Topics CoveredJulie’s background in the STR businessGrew Host My Home portfolio to 130 unitsEarned $8M on Airbnb before selling in 2019Julie’s tips for working ON rather than IN your businessDetermine what you’re going into business forRecognize strengths and outsource weaknessesEmpower staff + contractors to do job FOR youThe benefit of partnering vs. hiring employeesSense of ownership leads to pride in workSelf-motivated and invested in successJulie’s insight on how to train new staff membersDocument processes, communicate through playbookShadow you or trusted team member for weekRun through induction to see how business worksCheck in regularly with biweekly meetingsWhy it’s crucial to document your STR processesForces to consider best way to do thingsTeam can step up when you’re awayPrepared when want to sell businessJulie’s experience with joining STR LegendsBlown away by inspiring stories, culture of sharingOpportunities to partner on deals and projectsWhy hosts should think about their valuesCulture more important than strategyDefining values attracts ‘right people’Julie’s advice on finding a communityNo point in being smartest person in roomSurround self with people who enhance lifeConnect with JulieMillion Dollar HostJulie on FacebookJulie on LinkedInJulie on InstagramResourcesJulie on Get Paid for Your Pad EP300Million Dollar Host: Julie’s Airbnb Portfolio Earned Over a Million Dollars in Her First Year … Yours Can Too! by Julie GeorgeSTR LegendsSTR Profit AcademyHost My HomeGoogle DocsDropboxAsanaThis is Marketing: You Can’t Be Seen Until You Learn to See by Seth GodinGet Paid for Your Pad: How to Maximize Profit from Your Airbnb Listing by Jasper Ribbers and Huzefa KapadiaGet Paid for Your Pad on YouTubeEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

So, you want to scale a short-term rental (STR) property management company. But how do you find new clients? And how do you manage tens or even hundreds of units? Airbnb host Prak Sangthong grew from 0 to 100 listings in a single year, and he didn’t spend any money on marketing. How did he do it?Prak is the Cofounder and Managing Director at Easy Home Rentals, an Airbnb property management company based in Perth, Australia. Frustrated with long-term renters who damaged their investment properties and drained their profits, Prak and his wife decided to list a few units on Airbnb. And within a year, Prak was managing a STR portfolio of 100 units for property owners in Western Australia.On this episode of Get Paid for Your Pad, Prak joins me to explain how he went from 0 to 100 units in just 12 months—without formally marketing his property management business! He describes how setting up systems helped him scale so quickly and what he does to train his cleaning staff and reward them for good work. Listen in for Prak’s insight on negotiating discounts in COVID season and learn how YOU can be the best STR host in your market—and charge accordingly.Topics CoveredHow Prak got into AirbnbFrustrated with long-term renters in investment propertiesListed 3 units on Airbnb (went from $400/week to $1K/week)Share success with other property owners to add clientsHow Prak grew to 100 units without marketingDrop property management fees by 1% for each referralOffer 28-day notice to walk away if anyone not happyPrak’s top advice for aspiring STR hostsBe willing to be on standby 24/7Develop passion for delivering excellent productBelieve in yourself and be BEST in townWhat allowed Prak to scale so quicklyPut systems and processes in placeSeek out best and do it betterPrak’s approach to documenting processesCreate templates for every possible guest questionProperty checklist with links to instructions for usePrak’s suggestions for negotiating discountsOffer bottle of wine or 6-pack of beer as alternativeDon’t take personally (expect from everyone)How Prak trains his cleaning staffTeach how property should look, feel and smellDo 2 or 3 cleans with existing staff firstProvide checklist with clear expectationsWhy Prak’s cleaners are invested in doing wellReward for good work with cash, gift cardsShare Airbnb reviewsPrak’s words of wisdom for STR hostsWake up each day with gratitudeFind lesson in challenging timesConnect with PrakEasy Home RentalsPrak on LinkedInResourcesSTR LegendsEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

When you have a question about your short-term rental (STR) business, where do you go? Do you run a Google search and then spend several hours sifting through the information? What if you had a community of experienced Airbnb hosts you could go to for knowledge, inspiration and support?Phillipe Thibodeau is the real estate developer and STR host behind Strawberry Stays, a vacation rental and property management company out of Montreal, Canada. His experience as a host began with a single unit in May of 2017, and now he and his business partner are growing their portfolio quickly—with plans to secure a total of 80 listings in the next 12 months!On this episode of Get Paid for Your Pad, Phillipe joins me to discuss the pros and cons of self-learning versus being part of a community. He explains how COVID-19 gave him the opportunity to work ON his business and what you can do to develop a playbook for your own Airbnb. Listen in for Phillipe’s insight on the three things you need to know before you start a STR business and learn how YOU can get inspired by an engaged community of Airbnb hosts!Topics CoveredHow Phillipe got into hosting on AirbnbStruggling to rent unit of building owned w/ best friendDecided to try STR, earned double normal income on unitOpened eyes to new market in real estate businessHow Phillipe was affected by COVID-19One guest for 30 days vs. 30 guests per monthOpportunity to work ON business (build systems)How to develop a playbook for your STR businessWear ALL hats early on (e.g.: cleaning, maintenance)Optimize and document processes for every roleThe three things you need to know before you start hostingLook for community to learn fromBusiness doesn’t run itself (work ON AND IN to start)Only move forward if you’re passionate about STRThe benefits of being part of a community of hostsKnowledge and informationInspirationAccountabilityMotivation in moments of doubtAccelerate growthPhillipe’s goals for the next 12 to 24 monthsGrow business to qualify for STR LegendsBuild boutique hotel on land purchasedConnect with PhillipeStrawberry StaysPhillipe on LinkedInPhillipe on AirbnbResourcesZapierChip ConleyMaslow’s Hierarchy of NeedsSTR LegendsSTR Profit AcademyGet Paid for Your Pad on FacebookEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

Are you struggling to move out of fear and into action? Yes, the short-term rental (STR) industry took a hit in March when the Coronavirus forced most of us to shelter in place. But now, many Airbnb hosts are taking steps to generate bookings and some are even thriving through the pandemic. So, how do you get motivated to turn off Netflix and say YES to building your STR business?Gordon Martin is the CEO of People, Places & Things, a vacation rental and experiential tourism business based in Paradise, Newfoundland and Labrador, Canada. Gordon began his hosting career in August of 2017, listing his family cabin on Airbnb. Today, he represents 15 owners and 37 listings, aiming to ground his guests in PLACE, connect them with local PEOPLE, and provide the opportunity to do THINGS that will create lasting memories.On this episode of Get Paid for Your Pad, Gordon joins me to explain how he is thriving through the pandemic, serving his owner-clients, staff and guests. He describes the shell shock he felt when the crisis started and walks us through the steps he took to turn his STR business around—and even pick up several new properties! Listen in for Gordon’s insight around the importance of community in challenging times and learn how to get un-stuck and take action in YOUR vacation rental business.Topics CoveredHow Gordon got into AirbnbNeeded immediate cash in Fall of 2017Immediate bookings from listing cabinNow represent 15 owners, 37 listingsGordon’s initial reaction to the Coronavirus crisisFear, uncertainty and dreadTwo weeks watching Netflix and CNNHow Gordon turned his STR business aroundHire back VAs (operations + social media)Shift focus to staycations, rename listingsPositive press in traditional mediaHow Gordon picked up new properties in a pandemicReferrals from current owner-clientsShare success on social mediaHow Gordon transitioned out of stuck-ness into actionTake responsibility for situationChange environmentWhat Gordon learned through the COVID-19 crisisImportance of communityStay close to credible sources of infoLearn as much as possibleAccept situation and then respondGordon’s advice for STR hosts who feel stuckShare challenges with communityRemember your WHYConnect with GordonPeople, Places & ThingsPPT on FacebookPPT on InstagramPPT on LinkedInGordon on LinkedInGordon on AirbnbResourcesEric MoellerLandmark WorldwideTony RobbinsThe Daily Stoic: 366 Meditations on Wisdom, Perseverance, and the Art of Living by Ryan Holiday and Stephen HanselmanThe Obstacle is the Way: The Timeless Art of Turning Trials into Triumph by Ryan HolidayEgo is the Enemy by Ryan HolidayBooks by Ryan HolidayAllan Cuevas’ Airbnb Empire Academy on FacebookMark Simpson’s Boost Hospitality Marketing PodcastSTR LegendsSTR Profit AcademyGet Paid for Your Pad on FacebookEmail jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.

If you survived the last 3 months, you can survive anything. The pandemic hit short-term rental (STR) units hard and it hit property management companies even harder.So, how did major players handle the crisis? What advice do they have for anyone still trying to navigate rough waters?Syed Lateef is the CEO and founder of Hostly, a property management company based in Chicago. He left his full-time job as a financial analyst in 2018 to start his master lease business and build relationships with landlords in and around the city. By February 2020, Syed had 165 units and was looking to bring in $6 million in revenue in 2020.Today, Syed joins me to discuss how he and his team have handled the pandemic. Syed explains how he started his business and on-boarded units pre-COVID. He then pivots to his experience de-commissioning units after the crisis hit and how he negotiated his way out of contracts with landlords. Syed also reflects on how he and his company have weathered the pandemic and what his plans are moving forward. Listen in for Syed’s insight on identifying new business partners and growing the number of units you maintain.Topics CoveredSyed’s Airbnb storyBackground in financeBought multi-family property in 2017 (4 units plus basement unit)Slowly converted all units to STRsHow Syed founded HostlyLeft full-time job in 2018 to manage STR properties full-timeBuilt strong relationships with larger landlords and property management companiesSyed’s approach STR seasonality in ChicagoBell curve – Summer to October is when you make your moneyManage cash flow and reserves throughout year to pay for WinterSyed’s advice on approaching landlordsNo one responds to the first call/emailLeverage success with one landlord to bring another on boardHow Syed on-boards propertiesNegotiate up-front rent credits and waived security depositsFurnish apartments but use an intake processHire handy-men using an app like TaskRabbitSyed’s experience with COVIDCovid-19 was like hitting a brick wall – huge losses and no cash or bookingsRented units at super low prices and hit 80 percent occupancy in MarchMade a profit in May and planned to do the same in JuneHow Syed down-sized (decommissioned units)Stuck with 2 or 3 landlords that he had the best relationship with and the most unitsDe-commissioned about 60 units total – settled out of contractsTook furniture out and put in storage or in basements or garages of buildings he ownsSyed’s vision for the next yearTrying to survive month to month right nowWants to add more units if the demand is back2020 is mostly a lost causeHow Syed mentally handled the pandemicKnew it was out of his control and a once in a lifetime thingWas super transparent with business partners and teamLittle wins after biggest loss gave him motivationSyed’s advice for newcomersReputation and the right business partners will set you up for successChoose your partners wiselyConnect with SyedHostlyHostly on InstagramSyed on LinkedInResourcesBiggerPockets Real Estate PodcastSTR Profit AcademySTR Legends MastermindsTaskRabbit Hosted on Acast. See acast.com/privacy for more information.

Search Airbnb for listings in your area that are accessibility friendly. What did you find?Many markets have very few short-term rental (STR) units that accommodate travelers with limited mobility or other special needs. And those that do definitely stand out. So, how do you design an accessible Airbnb listing?Margie Schrader is the Superhost behind Zennia Hospitality, a STR management company out of Bloomington, Indiana, and an active member of our STR Profit Academy. Margie has maintained a remarkable 4.99 average over 188 reviews by stressing hospitality and cleanliness.Today, Margie joins me to discuss what she is doing to accommodate differently-abled travelers with an accessibility friendly Airbnb. She explains what inspired her to design a listing with wheelchair access and how she is challenging herself to make everyone with special needs feel comfortable in the space. Listen in for insight on the marketing benefits of an accessible STR and get Margie's advice on how to stand out in your market with an accessibility friendly listing.Topics CoveredMargie's Airbnb journeyLocal builder asked to manage STR (May 2018)Now hosting five units in Bloomington, INMargie's experience with COVIDProvide free stays for medical professionalsStep up cleaning procedures, day in betweenSlow return to normal (two units back up)What Margie's market is like right nowPre-COVID guests = parents of college studentsNow guests in town to see family, for getawayWhat inspired Margie to create an accessibility friendly AirbnbLocal builder gutting and renovating house nearbyNo one else in market with wheelchair accessibilityHow Margie is accommodating differently-abled travelersStep-free access, wide doorways + hallwaysRoll-in shower, accessible height toilet/bedFurniture contrasts with floor (low vision)The marketing benefits of an accessibility friendly AirbnbMedia opportunities as only accessible STR in marketGuests drawn to business that aligns with valuesMargie's advice for aspiring Airbnb hostsMake sure units are super-cleanBe yourself in interactions with guestsUnderpromise and overdeliverTry not to take reviews personallyConnect with MargieZennia HospitalityZennia Hospitality on InstagramMargie on AirbnbResourcesSTR Profit AcademyAirbnb’s COVID-19 Cleaning GuidelinesCDC Guidelines on Cleaning & DisinfectingAirbnb’s Accessibility SupportSocial Impact on GPFYP EP283Email jasper@getpaidforyourpad.comSponsorHostfully Hosted on Acast. See acast.com/privacy for more information.