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

Think you need to operate in a major metropolitan area to run a successful short-term rental (STR) business? Think again! As STR hosts in larger cities are faced with more and more competition and mounting regulations, Airbnb property managers in small towns are thriving. So, how do you identify a small community with BIG potential in the STR market?Christian Gissing is the CEO of True North Property Management, Northern Michigan’s short-term rental experts. TNPM is dedicated to building strong relationships with clients and providing memorable experiences for guests. In 2018, Christian and his team expanded to Mexico, Barbados and the UK, and today, they manage 100-plus units around the world. TNPM is a VRBO, HomeAway and Expedia Premier Partner, and the company has been recognized by Airbnb, TripAdvisor and Booking.com.On this episode of Get Paid for Your Pad, Christian joins me to share the romantic story of how he got into STR property management in Traverse City, Michigan. He offers advice on optimizing your listing (no matter how many units you manage) and making your guests feel special with extras like a free bottle of bubbly or gym access. Listen in for Christian’s insight around how to handle seasonality and learn the benefits of operating your STR business in a smaller city!Topics CoveredHow Christian got into STR property managementMet woman on vacation in Traverse City, MIDecision to stay + look for investment propertiesHuge opportunity in STR, expand to other’s unitsTraverse City triviaPopulation 14,674 according to 2010 censusCherry Festival attracts 500K annual visitorsThe benefit of operating STRs in small citiesLess competition, fewer regulationsCharge higher rates (huge demand)Respectful guestsHow Christian navigates the challenge of seasonalitySwitch to six-month lease in wintertimeAdvertise on Airbnb, Craigslist, FacebookChristian’s insight around diversifying across platformsAirbnb and HomeAway primary in his marketAdjust rates to accommodate platform feesChristian’s advice for optimizing results on one listingFind amazing photographer + stage unit wellCharismatic writing for descriptionsUse dynamic pricing (base on hotels, AirDNA)Personal touches to make listing stand outChristian’s top ideas for making guests feel specialFree bottle of bubbly or local wine tastingCherry-themed gift bags and spa discountsPartner with local gyms (guests use for free)How Christian thinks about dynamic pricingServices like PriceLabs use compsStill need to modify yourselfChristian’s tips for hosts facing regulation in metro areasConsider managing units remotelyScope out small cities with < competitionConnect with ChristianTrue North Property ManagementChristian on LinkedInResourcesVRMA International ConferenceTraverse City on WikipediaArticle on Millennial MillionairesAirDNABeyond PricingWheelhousePriceLabsSTR Legends LiveTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

In under three years, Julie George went from listing her one-bedroom apartment on Airbnb to running a successful property management company that turned over $5.5M. So, how did Julie scale from one to 130 units in 19 months? And how can you follow in her footsteps to become a million-dollar host?Julie George is the founder of Host My Home, Queensland’s top short-term rental (STR) property management company. She leveraged her background in hospitality, marketing and real estate sales to help property owners replicate the success she had hosting on Airbnb. In June 2019, Julie sold Host My Home, and today, she travels the world and runs Million Dollar Host, a consulting platform designed to help aspiring Airbnb entrepreneurs grow their business. 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 Airbnb origin story and explain how she built, scaled and sold Host My Home. She offers advice on optimizing your revenue as a STR host and walks us through her process for onboarding a new property. Listen in for Julie’s insight on maintaining total control of the listings you manage and learn how YOU can get into the Airbnb property management game!Topics CoveredJulie’s Airbnb origin storyTenant moved out of 1BR apartmentList on Airbnb (from $240 to $600/week)Help others with property managementWhere Julie’s STR business was locatedCairns, Queensland, near Great Barrier ReefTourism hub w/ demand for accommodationsJulie’s journey to building Host My HomeHelp property investors buy vacation homesEstablish self as local expert through articlesHire cohosts in January 2018 (up to 15 STRs)Scale to 130 properties, $5.5M by June 2019How Julie sold her property management companyWriting Million Dollar Host generated buzzTook offer from Hometime, sold June 2019Julie’s tips for optimizing revenue on AirbnbUse fresh photos + floor plans, good contentOffer extras (e.g.: coffee machines, bicycles)Keep minimum nightly stay low to fill 100%Keep eye on competitors, research ratesJulie’s process for onboarding a new propertyEstablish realistic expectations IN WRITINGCover what clean entails, consumables, etc.The opportunity to get into the management gameNovelty wears off quickly for new hostsGet message out re: services you offerHow the STR landscape has changed since 2016More competition means work harderAdditional education, support availableJulie’s advice for aspiring property managersMaintain total control of listing (vs. cohost)JUST DO ITConnect with JulieMillion Dollar HostEmail julie@milliondollarhost.com.auResourcesMillion 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 KapadiaHost My HomeFloorplannerHometimeHost 2019STR Legends LiveTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

If you’re an Airbnb entrepreneur looking to start or scale a property management business, you need leads! So, what is the best way to find property owners who might be interested in the STR model?Randy Zimnoch is the cofounder and broker-owner of Realty National, an investor-friendly, boutique-style brokerage based in San Diego, California. With more than 13 years of experience in real estate, Randy has flipped 250-plus houses, and his team of agents has done 1,600 transactions since Realty National launched in 2011. His impressive resume also includes seven years as the Acquisition and Sales Director for CT Homes, a residential re-development company featured on A&E’s Flip This House.On this episode of Get Paid for Your Pad, Randy joins me to explain how STR property managers and real estate agents can work together to grow their businesses. He discusses how to provide value for realtors through education, revenue projections and cross-promotional opportunities and offers advice on where to go to start building relationships with agents. Listen in for Randy’s insight around fostering an abundance mindset and learn several strategies for generating lead flow for your property management business!Topics CoveredRandy’s background and experience in real estateLicense to connect with agents as flipperRuns small boutique-style brokerageHow STR hosts and agents can benefit each otherAgents have direct access to property ownersKnowledge of STR makes agent stand outHow property managers can provide value for realtorsEducate around STR industryRevenue projection reports with AirDNACross-promotion opportunitiesWhere to start building relationships with realtorsPractice script on agents at Open HousesReach out to brokers, speak at team meetingRandy’s approach to nurturing agent relationshipsStay in front of database on regular basisOverdeliver (i.e.: gift basket for referrals)Randy’s insight around having an abundance mindsetProvide value to attract opportunitiesFind + serve people who relate to youOther strategies for generating lead flowNetwork with investor communityBuild real estate club with STR focusConnect with RandyRealty NationalRandy on LinkedInResourcesSTR Profit AcademyVRMA Conference 2019Eric MoellerFortune BuildersCT HomesAirDNAHost FinancialTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

Creating a unique experience for your guests leads to five-star reviews and returning clients. And if you live near the water, you can take advantage of this open market for one-of-a-kind spaces by renting out houseboats on Airbnb. So, how is hosting on land different from hosting by sea? What are the special considerations for running a STR that floats?Nicole Young is an Airbnb Superhost based in Norfolk, Virginia, with two houseboat listings on the platform—a 37-foot Holiday Mansion that sleeps two and a 50-foot Gibson that sleeps six. In addition to overnight stays on Airbnb, Nicole leverages Groupon to attract locals for date nights and does a food tasting Airbnb Experience on what she calls her ‘floating bed and breakfast.’On this episode of Get Paid for Your Pad, Nicole joins me to share her experience with listing houseboats on Airbnb. She explains the ‘date night’ concept she uses to increase bookings during the week, discussing how guests book through Groupon and what you can do to apply a similar idea in your space. Listen in for Nicole’s insight around the regulations and legal issues associated with STR houseboats and learn how the little things you do to provide a unique experience create lasting memories for guests!Topics CoveredNicole’s houseboat listings on Airbnb37-foot Holiday Mansion opened in March 2017, sleeps 250-foot Gibson opened July 2019, sleeps 6Nicole’s experience with houseboat bookingsCalendar full on weekends, holidays and eventsAdded ‘date nights’ to attract locals during weekHow Nicole’s date night concept worksOffering on Groupon and Airbnb ExperiencesProvide sensory experience in 3-hour time blocksHow guests book Nicole’s houseboat through GrouponCall to schedule (Airbnb calendar link reference)Convert to overnight if date not availableNicole’s advice around executing date nightsApproval through Groupon Merchant CenterOffer little things to create memories (e.g.: Polaroid)Nicole’s experience with regulations and legal concernsDon’t go out on water for liability reasonsIssues with local government (i.e.: taxes, water treatment)Move to private dock after marina policy changedWhy Nicole recommends hosting STR houseboatsMarket open for unique spacesGood revenue source despite renovation expenseNicole’s very positive reviews on AirbnbGuests comment on fishing poles, view of naval baseWonderful experience leads to returning guestsConnect with NicoleNicole on AirbnbResourcesGroupon Merchant CenterAirbnb ExperiencesTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

“Honestly, it was a gamble … but I knew, if I put in the same amount of time that I did at my job, I knew I could make that much or even more through Airbnb because I saw how much it could actually grow.”So, you’ve got a good, steady job, but it doesn’t light you up. You know you’re self-motivated enough to be an entrepreneur, and you LOVE the idea of deciding for yourself how to spend your time. You CAN achieve financial freedom through short-term rentals (STR), and today’s guest took a leap of faith to do just that.Azubuike Dike (better known as AJ) is the Cofounder and Logistics Manager with EA Lodging, an STR property management company based in Houston. The EA Lodging team provides reliable services for property owners looking to create positive experiences for their guests, boasting a proven track record for optimizing short-term rentals in Southeast Texas. In addition, AJ and his partner, Erica, offer an array of services for hosts, including STR setup and design, listing photography, furniture sourcing, and a listing revamp—just to name a few.On this episode of Get Paid for Your Pad, AJ joins me to share his journey from microbiologist to full-time Airbnb property manager. He explains how the Superbowl inspired his first STR listing, why he transitioned to cohosting, and where he found his first few properties to manage. AJ also discusses the automation tools he uses to manage EA Lodging, describing his role in the business and what he outsources. Listen in to understand the services AJ offers other hosts and get his advice for achieving financial freedom as an Airbnb entrepreneur!Topics CoveredHow AJ got into AirbnbListed girlfriend’s apartment for SuperbowlBooked every weekend until lease endedHow AJ grew from one listing to a property management companyRent apartment near NRG stadium specifically for AirbnbConverted to cohosting when got in trouble for listingAJ’s transition from a 9-to-5 to entrepreneurshipGood job as microbiologist for City of HoustonSaw how quickly could achieve financial freedom with STRRequires different mindset (nobody tells you what to do)AJ’s experience with quitting his jobTook leap of faith despite fearMotivate self on days feel downHow AJ found properties to manageCondos for sale on CraigslistSearch Airbnb Community ForumAJ’s current STR cohosting portfolio10 properties in HoustonAble to sustain self comfortablyWhat inspired AJ to add services for other hostsAugust slow month for STR in HoustonHelp others create listing, get bookingsAJ’s advice for aspiring Airbnb entrepreneursKnow your number to live comfortablyFind your lane + follow people doing what you want to doGet educated (i.e.: market research, podcasts and classes)Reach out to people with property/room availableHow AJ manages EA LodgingAutomate guest communication with Your PorterOptimize pricing for STR with PriceLabsCheck on units and touch base with ownersConnect with AJEA LodgingResourcesCraigslistAirbnb Community ForumYour PorterPriceLabsSTR Profit AcademySTR LegendsTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

What do top short-term rental (STR) operators from around the world have in common? This past summer, Eric Moeller and I hosted the STR Legends Live Mastermind in Puerto Rico, and we uncovered three buckets that successful Airbnb hosts focus on, whether their business is in South Africa or Siberia or San Diego. So, we are compiling this information in a three-part series and providing you with the blueprint to launch and scale a profitable STR business!Beyond partnering with me on STR Legends Live, Eric also serves as host of the Airbnb Mastery Summit, a program designed to help aspiring hosts build a professional and profitable business on Airbnb, and founder of Cohost Mastery, an online training academy that teaches you how to start an STR company without owning or leasing any properties. In addition, he runs his own successful vacation rental leasing and property management company in California.On this episode of Get Paid for Your Pad, Eric and I sit down to discuss our upcoming masterclass, STR Profit Academy. We offer an overview of the three pillars of a successful Airbnb business we plan to cover in the series—business, hospitality and mindset. Listen in for insight around who would benefit most from attending our live masterclass and learn the blueprint to launch and scale a successful STR business!Topics CoveredThe three-part masterclass Eric and I are putting togetherCompile personal experience with STR LegendsPillars necessary to build + grow STR businessWhat successful STR operators have in commonBusinessHospitalityMindsetPillar #1—Building the BusinessIdentify marketplace, property typeStrategic plan to set up for successProperties run like McDonald’sPillar #2—HospitalityStand out with unforgettable experienceUnderstand customer journeyManage through automationPillar #3—Entrepreneurial MindsetWilling to invest in personal growthThrive on challenges, competitionOvercome limiting beliefsWho should sign up for STR Profit AcademyJust starting out, struggling to get startedHosts looking to live life by designObsessed with Airbnb/short-term rentalsWilling to take action + grow as personConnect with EricCoHost MasteryAirbnb Mastery SummitEric on LinkedInResourcesSTR Profit AcademyEric on GPFYP EP285Eric on GPFYP EP278Eric on GPFYP EP256Eric on GPFYP EP175STR LegendsDavid KraussTony RobbinsThe Obstacle is the Way: The Timeless Art of Turning Trials into Triumph by Ryan HolidayTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

Vacation rentals have been around for a long time. But the advent of Airbnb put the industry on our radar in a new way, inspiring significant growth and change. And today, there’s an entire ecosystem of bespoke products and services that cater to the multibillion-dollar short-term rental (STR) industry.Evian Gutman is the Founder and CEO of Padlifter, the world’s largest marketplace of STR service providers. Evian created the platform to connect businesses in the Airbnb ecosystem with their target customers. Padlifter provides the most comprehensive directory of short-term and vacation rental service providers globally, enabling hosts to find the right services in the right place at the right time.On this episode of Get Paid for Your Pad, Evian joins us to discuss the development of the Airbnb ecosystem, explaining how the products and services have evolved with the expansion of the STR space. He describes several traditional industries that have adapted their offerings to serve the vacation rental industry and offers insight around the most innovative collaborations in the network. Listen in for insight around the potential for Airbnb to allow listing videos and learn how Padlifter connects stakeholders in the STR industry!Topics CoveredHow the Airbnb ecosystem developedVacation rentals on people’s radar with AirbnbExpansion to multiple booking platformsIncreasing number of services to meet demand115K vacation rental companies worldwideThe evolution of the STR industryDecrease in average length of stay (4 nights)Destination vs. urban travel to replace hotelWhy hosts list on multiple channelsAdditional exposure, marketing opportunityAvailability of channel management softwareTraditional services that evolved to specialize in STRCopywriting, listing optimizationData and investment supportLuggage and parcel servicesEvian’s insight around the most innovative companiesRight product for right person in right placeCollaborations, all-inclusive services (i.e.: property manager with in-house turnover)The potential for Airbnb to allow videoHigher expectations around Airbnb LuxeIntegration of video likely to trickle downHow Padlifter serves the STR industryWorld’s largest marketplace of service providersConnect businesses with target audienceSimplify lives of hosts, make more moneyConnect stakeholders (verification, reliability)Connect with EvianPadlifterEvian on LinkedInResourcesBeyond PricingTransparent DataInkifi Global Airbnb CapitalsAirDNAArchibnbAirbnb PlusAirbnb LuxeVRMA ConferenceSTR LegendsHOST 2019Eric MoellerTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

A lot of short-term rental hosts underestimate the power of effective guest communication. How well you convey the information your guests need has a big influence on their experience. And that, in turn, impacts the reviews they leave you on Airbnb. So, what does good guest communication look like? How often should you message your guests? And WHEN is the best time to send WHAT information?Today, I’m sharing an edited version of my Smartbnb Webinar on how to streamline your Airbnb guest communication. I explain why it’s crucial to communicate clearly with STR guests and offer advice on building relationships with voice notes and video.I walk you through the five aspects of successful Airbnb guest communication, discussing how to provide objective information that’s easy to understand—when the guest actually needs it. Listen in for an outline of my guest communication flow and learn how often to communicate with guests before, during and after their stay!Topics CoveredWhy guest communication is crucial on AirbnbInfluences guest experienceNo industry standards like hotelThe reasons for communicating with Airbnb guestsProvide information, facilitate optimal stayBuild relationship (more forgiving review)How we communicate as human beingsWords only small part of messageTone, body language more importantTips for building relationships with guests remotelyPhone call and/or send voice notesSend short video if can’t meet in personThe 5 aspects of successful Airbnb guest communicationAccuracy—objective information (e.g.: WiFi speed test)Timeliness—respond quickly + send info when need itDigestibility—present info in concise, appealing wayFrequency—send most important info multiple timesComprehensiveness—provide ALL info guest needsMy Airbnb guest communication flowSend welcome message immediately after bookingDeliver check-in instructions few days before stayResend address, check-in instructions as flight landsWelcome + resend WiFi password just after check-inHow often to communicate with guests during their stayReach out few hours after arrival for feedbackMessage guest morning after first nightCheck in every 3 or 4 days after thatCommunicating with Airbnb guests after their staySend thank you immediately after check-outReview guest right away, ask to reciprocateRemind guest to submit review after weekFinal reminder day before window closesResourcesSpeedtestHemingway EditorGrammarlySmartbnbHostfullyWhatsAppTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

Are you annoyed with your Airbnb guests or overwhelmed with the responsibility of managing your listing? If you’ve been a short-term rental host for a while now, you may be tired of answering the same questions and frustrated with guests who complain about things you can’t control. This condition is known as Airbnb hosting fatigue. So, what can you do about it? Can you prevent hosting fatigue from happening to you?Today, I’m doing a solo episode to discuss the issue of Airbnb hosting fatigue. I share my own experience with the phenomenon, explaining how I reignited my passion for hosting. I also offer insight around how outsourcing some activities and automating things like messaging, pricing, and task management can prevent STR hosting fatigue. Listen in to understand the problem with the Airbnb review system and get my top tips for finding the inspiration to stay engaged and continuing to improve your listing!Topics CoveredMy experience with STR hosting fatigueSuper-excited to host for first couple monthsComplaints, repeat questions got annoyingStarted to not care as much, ratings sufferedHow I reignited my passion for hostingLook for ways to change, improve (e.g.: Hostfully guidebook)Engage with guests through WhatsAppHow to prevent Airbnb hosting fatigueAutomate or outsource some activitiesHire employee to clean, check-in guestsThe problem with the Airbnb review system4-star hotel review = luxury, certain amenitiesAirbnb expects consistent 5-star reviewsHow I think about the Airbnb review systemOne bad review won’t kill STR businessTake feedback seriously, be professionalMy top tips for preventing STR hosting fatigueFocus on finding inspiration to improveCommunicate with other hosts (i.e.: Meetups, online groups)Shift focus by asking right questionsTake break from hosting if necessaryResourcesSmartbnbSmartbnb BlogJasper’s Communication Post on SmartbnbHostfullyWhatsAppSeth Porges on GPFYP068Seth Porges’ Article on ReviewsMeetupTony RobbinsJasper’s Smartbnb Webinar RegistrationHost 2019Get Paid for Your Pad BlogTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.

“I vowed to change the company’s vision … from putting roofs over people’s heads to creating memories and stirring emotions.”It is easy to build relationships with guests when you have a small number of listings, and you can be there in person to check them in. But how do you keep that connection as you scale up to 50 units or more? What can you do to show people you care and maintain superior hospitality as your business grows?Steve Patterson is the President of UrHomeInPhilly, a short-term rental property management company based in Philadelphia, PA. UrHip is ranked #1 in customer experience on Google and was voted best place to stay in Philadelphia by Sweet Retreats. Steve is passionate about helping his guests create memories, and he has maintained Superhost status—even as his business has grown to 80-plus units.Today, Steve joins us to explain how he differentiates his STR business with outstanding service. He shares his struggle to achieve Superhost status, discussing what he learned at the Airbnb conference that improved his reviews. Listen in for Steve’s tips on building relationships with guests, even when you can’t be there to meet them in person, and learn what tech tools he uses to maintain exceptional hospitality while his business continues to grow!Topics CoveredHow Steve got into AirbnbWanted to move to suburbs but locked into leaseUse STR as strategy to not lose moneySteve’s experience at the Airbnb conferenceWanted to learn to be SuperhostSpeakers inspired to use CARE as catalystHow Steve differentiates himself with serviceCreating memories + stirring emotionsPersonalize stays around reason for travelHow to build relationships when you can’t meet guestsDemonstrate care (e.g.: balloon for birthday)Online tools to communicate through videoSteve’s insight around creating a high-level of serviceOnly as good as team on groundLearn about guest, find things in commonHow Steve scaled his STR business to 80+ unitsStandardize as much as possible (e.g.: flatware)Find reliable technology partnersHire virtual team to helpSteve’s top takeaways from STR Legends LiveLeverage processes to work fewer hours/weekDon’t be in rush to buy property (winter coming)Connect with SteveUrHomeInPhillySteven on LinkedInUrHip on FacebookResourcesEat, Pray, Love Author Elizabeth GilbertLoomBombBombWhatsAppSTR LegendsTo subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.