Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | Apartment Sharing

In this episode of 'Get Paid for Your Pad', host Jasper Ribbers returns after a break to share updates on his personal life and the short-term rental market. He reflects on the past year, discussing trends in booking behavior, the importance of professionalism in hosting, and strategies for increasing revenue in a stagnant market. Ribbers emphasizes the need for hosts to adapt to changing market conditions and to utilize tools like Airbnb custom promotions to enhance visibility and bookings.TakeawaysJasper is back to podcasting after a break.2024 showed little growth compared to 2023.Booking windows are shortening due to economic uncertainty.Travel trends are returning to traditional patterns.Professionalism is crucial for success in short-term rentals.The gap between professional and amateur hosts is widening.Investing in amenities can enhance guest experience.Hosts should be competitive during low seasons.Airbnb custom promotions can help attract bookings.More training resources will be available for hosts. Hosted on Acast. See acast.com/privacy for more information.

Curious what your portfolio's potential is? Apply for RPM at https://freewyldfoundry.com/rpm/. In this episode, Jasper Ribbers and Tom Sharkey discuss the latest updates in their podcast journey, the introduction of new team members, and the intricacies of revenue management in the short-term rental industry. They share insights on the importance of daily focus in revenue management, the evolving market trends, and strategies for optimizing bookings during low seasons. The conversation emphasizes the significance of understanding booking windows, pacing, and utilizing data to make informed decisions in a competitive landscape.TakeawaysJasper is committed to continuing the podcast for the foreseeable future.The team has expanded to manage over 600 listings.Revenue management requires daily focus and cannot be a side task.The short-term rental market is becoming increasingly competitive.Understanding booking windows is crucial for effective revenue management.Preparation for low seasons should start well in advance.Pacing helps gauge market demand and adjust strategies accordingly.Flexibility in minimum night stays can attract more bookings.Data-driven decisions are essential for optimizing revenue.The team is excited to serve clients and expand their services. Hosted on Acast. See acast.com/privacy for more information.

Curious what your portfolio's potential is? Apply for RPM at https://freewyldfoundry.com/rpm/. In this episode of 'Get Paid for Your Pad', Jasper Ribbers discusses the latest features from Hostly with Fred Bassili and David Jacoby. They delve into the importance of upselling in the current flat market, exploring various upsell strategies and the potential revenue they can generate. The conversation highlights the integration of AI in property management, the significance of early check-ins and late check-outs, and unique upsell ideas that can enhance guest experiences. The episode concludes with practical advice on implementing upselling strategies effectively.TakeawaysHostfully has introduced new features including Inbox AI for messaging.AI can help save time in guest communication without fully automating responses.Upselling is crucial in a flat market to increase revenue.Many property managers plan to implement upsells but few actually do.Early check-in and late check-out are popular upsell options.Unique upsell ideas can significantly enhance guest experiences.Revenue from upsells can be a substantial part of overall income.It's important to vet local tour operators when offering experiences.Technology can streamline the upselling process for property managers.Start small with upselling strategies and expand as you learn. Hosted on Acast. See acast.com/privacy for more information.

Curious what your portfolio's potential is? Apply for RPM at https://freewyldfoundry.com/rpm/. Sergio Castaneda, founder of Jungle House, shares his journey of growing his short-term rental business from 1 or 2 buildings to 19 units. He discusses the importance of systemizing and growing the team, focusing on the owner side of the business, and transitioning into commercial properties. Sergio also explains the concept behind the Jungle House brand, which revolves around his love for plants. He highlights the benefits of delegating tasks, such as plant maintenance, to local vendors. Sergio emphasizes the value of having a dedicated team and the impact it has on revenue management, including capturing extra guest fees and handling damage claims.TakeawaysSystemizing and growing the team are crucial for scaling a short-term rental business.Focusing on the owner side of the business can lead to increased control and profitability.Delegating tasks, such as plant maintenance, to local vendors can improve scalability.Capturing extra guest fees and handling damage claims can significantly impact revenue.Having a dedicated team allows for more opportunities and a better guest experience.Working with a revenue management expert can optimize pricing and improve overall performance. Hosted on Acast. See acast.com/privacy for more information.

Curious what your portfolio's potential is? Apply for RPM at https://freewyldfoundry.com/rpm/. SummaryIn this conversation, Jasper Ribbers and Kaye Putnam continue their discussion on revenue management. They provide examples of the impact their service has had on clients' businesses, including significant improvements in revenue. They emphasize the importance of understanding the entire business and market dynamics when developing a pricing strategy. They also highlight the value of their service as a marketing and business acquisition tool, as it provides clients with data and reports to showcase their performance to owners and potential investors. They address common questions and misconceptions about revenue management and explain how their service can benefit hosts in seasonal markets.TakeawaysRevenue management can have a significant impact on short-term rental businesses, leading to improvements in revenue and profitability.Understanding the entire business and market dynamics is crucial when developing a pricing strategy.Revenue management can serve as a powerful marketing and business acquisition tool, as it provides data and reports to showcase performance to owners and potential investors.The service is particularly beneficial for owners and master leasers, as it allows them to increase their revenue and profitability.In seasonal markets, it is important to consider the booking window and adjust pricing strategies accordingly.Taking emotions out of pricing decisions and relying on data and market demand can lead to better results.The service is a win-win, as it brings value to the business and helps hosts save time and make more money. Hosted on Acast. See acast.com/privacy for more information.

Curious what your portfolio's potential is? Apply for RPM at https://freewyldfoundry.com/rpm/. In this episode, Jasper Ribbers is interviewed by Kaye Putnam about RPM (Revenue and Pricing Management) service. They discuss the importance of revenue management for short-term rental operators and how it can significantly impact their bottom line. Jasper explains that RPM is a service where they take over the revenue management for clients, setting pricing parameters, developing strategies, and making adjustments based on market data. They also consult on other aspects of the business that impact revenue, such as marketing and messaging. Jasper shares success stories of clients who have seen significant improvements in their revenue after implementing RPM.TakeawaysRevenue management is crucial for short-term rental operators to maximize their revenue and profitability.RPM is a service that takes over revenue management for clients, setting pricing parameters and making adjustments based on market data.Every part of the business, from marketing to messaging to cleaning, impacts revenue and should be optimized.Operators with a larger portfolio can benefit from outsourcing revenue management to a service provider.RPM can lead to significant improvements in revenue, with some clients seeing a 40-43% increase.It's important to evaluate performance and compare it to the market to identify areas for improvement.RPM is not a one-size-fits-all solution, and each client's strategy is tailored to their specific portfolio and market.Operators below the million-dollar mark can still benefit from education and resources to improve their revenue management.Freewyld Foundry offers a snapshot analysis for operators interested in RPM to assess their performance and potential for improvement. Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download Jayla Siciliano, former Shark Tank entrepreneur, shares her experience on the show and the challenges she faced in building her wine company. She discusses the importance of staying focused and not spreading oneself too thin. Jayla also talks about her current business in the short-term rental industry and the challenges of managing multiple properties in different locations. She emphasizes the need for strong systems and processes and the importance of customer service in the hospitality business. Jayla Siciliano, founder of Atlas Vacation Rentals and host of the Seed Money podcast, shares her journey as an entrepreneur and offers insights into the short-term rental industry. She discusses her love for design and hospitality, and how she focuses on providing exceptional experiences for families and groups. Jayla emphasizes the importance of joining mastermind groups for support and guidance in the early stages of starting a business. She also provides advice on raising seed money and making decisions about funding options. Jayla's story highlights the significance of aligning your goals and values with your entrepreneurial pursuits.TakeawaysBuilding a business requires resilience and the ability to pivot when necessary.Staying focused and not spreading oneself too thin is crucial for success.Strong systems and processes are essential for managing multiple properties in the short-term rental industry.Customer service is a top priority in the hospitality business. Passion for design and hospitality can drive success in the short-term rental industry.Joining mastermind groups can provide valuable support and guidance for entrepreneurs.When raising seed money, consider your end goal and whether it aligns with the expectations of investors.Convertible notes and safe notes are simple and cost-effective options for raising friends and family rounds.Making decisions about funding should be based on your long-term vision and the needs of your business.Stepping away from a business requires deep reflection and the courage to prioritize your values and goals. Hosted on Acast. See acast.com/privacy for more information.

Apply for our revenue management service at https://freewyldfoundry.com/rpm/. Jairo Osorno, founder of Del Carmen Hospitality, shares his journey in the short rental business, from starting with a single unit to managing 51 listings. He discusses the challenges of the master leasing model, the impact of COVID-19, and the importance of revenue management. Jasper Ribbers, host of Get Paid for Your Pad, explores the evolution of the short rental industry and the strategies for success in the current market. The conversation covers revenue management strategies for short-term rental properties, focusing on pricing, booking windows, and operational optimization. It also delves into the importance of marketing, distribution, and the role of virtual assistants in property management. The discussion provides valuable insights for hosts and operators looking to maximize revenue and streamline operations in the short-term rental market.TakeawaysJairo Osorno's journey from a single unit to managing 51 listingsChallenges and changes in the short rental industry over the past decadeThe impact of COVID-19 on the master leasing model and revenue managementThe importance of operational support and family involvement in the businessStrategies for success in the current short rental market Short booking windows can lead to last-minute bookings at lower prices, impacting revenue.Changing pricing strategies and leveraging early bird promotions can drive bookings further in advance.Completing Airbnb listings with detailed information and optimizing categories can improve search visibility and conversion rates.In-house operations and standardized amenities can provide flexibility and efficiency in property management.Hiring virtual assistants with industry experience and attention to detail can support operational tasks and guest communication.Chapters00:00 The Journey of Del Carmen Hospitality: From Single Unit to 51 Listings04:45 Challenges and Changes in the Short Rental Industry11:29 Navigating Market Challenges: The Impact of COVID-19 and Revenue Management25:35 Maximizing Revenue in Short-Term Rentals: Pricing Strategies and Booking Windows35:37 Optimizing Operations and Marketing for Short-Term Rental Properties42:20 The Role of Virtual Assistants in Property Management Hosted on Acast. See acast.com/privacy for more information.

Apply for our revenue management service at https://freewyldfoundry.com/rpm/. In this conversation, Eric Moeller and Jasper Ribbers discuss the recent developments and updates related to Freewyld, including real estate, hospitality, revenue management, and the launch of Freewyld Foundry. They also delve into the importance of guest experience, brand identity, and the impact of revenue management on short-term rental businesses. The conversation delves into the importance of revenue management in the short-term rental industry, emphasizing the need for a dedicated focus on revenue management to drive business growth and profitability. It also highlights the impact of revenue management on property performance and the potential for significant revenue growth through strategic management. The conversation explores the role of revenue management in maximizing property revenue and the importance of aligning brand, story, and marketing with a robust revenue management strategy.TakeawaysThe success of Freewyld's real estate and hospitality operations, including the performance of current cabins and the development of phase two properties.The importance of guest experience and brand identity in creating a unique and memorable stay for guests.The significance of revenue management in optimizing short-term rental businesses and the launch of Freewyld Foundry to offer services in branding, marketing, and revenue management.The evolving landscape of short-term rentals and the need for a daily focus on revenue management to adapt to changing market dynamics. Revenue management is a critical aspect of the short-term rental industry, requiring dedicated focus and expertise for business success.A robust revenue management strategy can significantly impact property performance and drive substantial revenue growth.Aligning brand, story, and marketing with revenue management is essential for maximizing property revenue and achieving business success.Chapters00:00 The Evolution of FreeWyld: Real Estate and Hospitality Operations13:06 Crafting Unforgettable Guest Experiences: The Power of Brand Identity23:19 Adapting to Change: The Future of Short-Term Rental Businesses30:12 The Importance of Revenue Management47:14 Maximizing Property Revenue Through Strategic Management49:08 Aligning Brand and Marketing with Revenue Management Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download Vincent Niemeth, a safety expert in the short-term rental field, shares his insights on safety and liability in the industry. He emphasizes the importance of guest screening and provides tips on how to identify potentially risky guests. Vincent also discusses the need for proper maintenance and safety measures for amenities like pools and hot tubs. He highlights the significance of fire safety, including the use of smoke alarms and fire extinguishers. Vincent advises property owners to think proactively and consider potential hazards to ensure the safety of their guests.TakeawaysGuest screening is crucial for ensuring the safety of your property. Conduct thorough background checks and review social media profiles to identify potential risks.Maintaining amenities like pools and hot tubs is essential. Regular cleaning and water changes are necessary to prevent health hazards.Invest in safety measures like GFCI outlets, smoke alarms, and fire extinguishers to mitigate risks and ensure the safety of your guests.Consider potential hazards and take proactive steps to prevent accidents. This includes securing furniture, using non-slip materials, and installing safety devices.Always prioritize the safety of children and be aware of the risks associated with drugs and alcohol in your property.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadZach Leimaster, founder and CEO of Rent to Retirement, discusses how he helps people retire early with turnkey rentals. He explains that turnkey rentals involve identifying the best markets based on cashflow and building teams in those areas to offer investment properties. Leimaster emphasizes that anyone can get started investing in rental real estate, and it doesn't necessarily require a large amount of money. He shares his own journey of retiring early through real estate investing and highlights the importance of consistency and having a strategy. Leimaster also discusses the process of determining the best markets to invest in and the different types of rentals available.TakeawaysTurnkey rentals involve identifying the best markets for investment properties and building teams in those areas.Anyone can get started investing in rental real estate, regardless of their financial situation.Consistency and having a strategy are key to achieving financial independence and generational wealth through real estate investing.Determining the best markets to invest in involves factors such as cashflow, legislation, taxes, population growth, and economic diversity.Short-term rentals require attention to detail, marketing, and creating a unique guest experience to stand out in a competitive market. Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download Nick Libertin shares his experience of his short-term rental property burning down and the challenges he faced with insurance coverage. He emphasizes the importance of having the right insurance coverage and understanding the policy details. Nick also discusses the emotional and financial impact of the incident and offers advice for hosts to protect themselves.TakeawaysEnsure you have the right short-term rental insurance coverage with a business protection riderReview your insurance policy to understand the coverage and any caps or limitationsConsider additional coverage for loss of business revenue and excavation feesBe prepared for the emotional and financial impact of a property lossMaintain good documentation and evidence in case of a claimCommunicate with your mortgage company to discuss payment options during the rebuilding processBefore we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download Kenny Bedwell, founder and CEO of SDR Insights, shares his expertise on analyzing short-term rental properties. He emphasizes the importance of understanding the market revenue drivers and studying the data to identify the key factors that drive revenue in a specific market. Kenny recommends evaluating properties based on a range of potential revenue, rather than a single number, to account for different scenarios. He also advises investors to look in the right markets, evaluate enough properties, and have a consistent deal flow to find profitable short-term rental deals.TakeawaysUnderstand the market revenue drivers and study the data to identify the key factors that drive revenue in a specific market. Evaluate properties based on a range of potential revenue, rather than a single number, to account for different scenarios. Look in the right markets, evaluate enough properties, and have a consistent deal flow to find profitable short-term rental deals.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome!Chapters00:00 Introduction and Background06:11 Analyzing Properties: Gross Revenue and Gross ROI11:46 Cash Flow vs. ROI Percentage29:26 Final Thoughts and Conclusion Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download In this episode, Jasper Ribbers interviews Mike Savage, the founder of Synergy Stays, about revenue management in the short-term rental industry. They discuss the importance of revenue management and how it has evolved over the years. Mike shares his personal experience with revenue management and the strategies he has implemented to maximize his revenue. They also emphasize the need to think beyond pricing and consider other factors like operations, distribution, and marketing. The conversation highlights the role of pricing tools and the importance of creating incentives to attract bookings.TakeawaysRevenue management is more than just pricing; it involves optimizing all aspects of the business to maximize revenue.Thinking like a revenue manager and being strategic in creating incentives and promotions can help attract bookings and increase revenue.Pricing tools are valuable for analyzing the market and making real-time adjustments, but they should be used in conjunction with a revenue management strategy.Considering factors like operations, distribution, and marketing is essential for effective revenue management.Systematizing revenue management processes can help scale the strategy and make it easier to replicate.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome!Chapters00:00 Introduction and Background06:46 The Importance of Operations, Distribution, and Marketing13:15 Creating Incentives and Promotions to Maximize Bookings27:11 Conclusion and Contact Information Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadZiona McIntyre, author of '30-Day Stay: A Real Estate Investor's Guide to Mastering the Medium-Term Rental', discusses strategies for finding and managing mid-term rentals. She highlights the importance of considering tax benefits and regulations when investing in properties for mid-term rentals. McIntyre suggests using platforms like Furnish Finder, Airbnb, and Zillow to list mid-term rentals. She also mentions the potential for partnerships with insurance companies and placement agencies to attract tenants. McIntyre emphasizes the need for professional and well-designed properties in the mid-term rental market. She also mentions the option of offering additional services like car rentals through platforms like Turo.TakeawaysConsider tax benefits and regulations when investing in mid-term rentalsUse platforms like Furnish Finder, Airbnb, and Zillow to list mid-term rentalsExplore partnerships with insurance companies and placement agenciesFocus on professional and well-designed properties in the mid-term rental marketConsider offering additional services like car rentals through platforms like TuroBefore we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome!Chapters00:00 Introduction to Mid-Term Rentals09:55 Partnerships with Insurance Companies and Placement Agencies26:56 Exploring Additional Services for Mid-Term Rentals Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download In this episode, Jasper Ribbers interviews Arthur Colker, the founder of Stay-fi, a guest Wi-Fi marketing tool. They discuss how short-term rental operators can collect guest email addresses and market to them to encourage direct bookings. They cover topics such as the importance of guest data collection, the tools available in Stafi for email and text marketing, and the benefits of reducing dependence on OTAs. They also provide tips on what kind of emails to send to guests and discuss an upcoming training event on direct bookings.TakeawaysStay-fi is a guest Wi-Fi marketing tool that helps short-term rental operators collect valuable marketing data from every guest staying with them.By collecting guest email addresses, operators can introduce their brand to every person staying in their property and market to them for future direct bookings.Email marketing can be used to inform guests about availability, local events and activities, new properties, and last-minute cancellations.Operators can leverage direct bookings to fill calendar gaps and offer reduced rates to past guests while maintaining higher prices on OTAs.The upcoming training event, 'Shaping the Future of Direct Bookings,' will cover website optimization, email marketing, SEO, and data collection strategies.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome!Chapters00:00 Introduction and Overview of Stay-fi03:09 Guest Data Collection and Brand Introduction04:26 Using Email and Text Marketing for Return Bookings06:49 Reducing Dependence on OTAs and Increasing Occupancy11:46 Content Creation and Engaging Guests Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download In this episode, Jasper Ribbers interviews Dave Krauss, the co-founder of Rent Responsibly, an organization that supports the short-term rental industry. They discuss the importance of creating alliances and advocating for balanced regulations in the industry. They also highlight the need for education and research to inform policy decisions. Dave introduces the State of the Short-Term Rental Industry Survey, which aims to gather data from hosts and local government officials to shape the future of the industry. They encourage listeners to participate in the survey and get involved with local alliances to have their voices heard.TakeawaysCreating alliances and advocating for balanced regulations is crucial for the short-term rental industry.Education and research are essential to inform policy decisions and correct misconceptions about the industry.The State of the Short-Term Rental Industry Survey provides an opportunity for hosts and local government officials to contribute to shaping the future of the industry.Getting involved with local alliances can provide benefits such as education, networking, and advocacy support.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Chapters00:00 Introduction and Updates01:09 Introduction to Rent Responsibly06:16 Balancing Regulations and Encouraging Responsible Hosting08:27 The Shift in Travel Trends and the Need for Regulations11:18 The Evolution of Short-Term Rental Regulations14:06 The State of the Short-Term Rental Industry Survey29:37 Conclusion and Call to Action Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download In this episode, Jasper Ribbers interviews Jordan Locke, the founder of RevParty Consulting, about revenue management strategies for short-term rentals. They discuss the importance of revenue management, understanding guest avatars, pricing strategies for special events, adjusting pricing for high-demand dates, and utilizing OTA promotions. They also cover practical tips for increasing revenue and the importance of scheduling time for revenue management. Jordan provides his contact information for those interested in learning more about his services.TakeawaysRevenue management is the practice of maximizing revenue by constantly improving how much money you make.Understanding guest avatars and their preferences can help you tailor your pricing strategy and attract the right guests.Utilizing OTA promotions can increase visibility and attract more bookings.Setting minimum night stays can help optimize your calendar and prevent undesirable bookings.Scheduling dedicated time for revenue management is crucial for monitoring pricing, adjusting strategies, and staying on top of market trends.Chapters00:00 Introduction to Revenue Management01:19 Background and Experience in Revenue Management04:29 2024 Revenue Trends06:13 Pricing Strategies for Special Events09:48 Adjusting Pricing Strategy for High Demand Dates12:56 Factors Influencing Booking Behavior14:49 Getting Started with Revenue Management15:40 Understanding Guest Avatars and Pricing22:18 Optimizing Minimum Night Stays25:41 Scheduling Time for Revenue Management28:53 Understanding Pacing30:39 Practical Tips for Increasing Revenue32:49 Contact Information33:35 ConclusionBefore we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download In this episode, Jasper Ribbers interviews Jordan Locke, the founder of RevParty Consulting, about revenue management strategies for short-term rentals. They discuss the importance of revenue management, understanding guest avatars, pricing strategies for special events, adjusting pricing for high-demand dates, and utilizing OTA promotions. They also cover practical tips for increasing revenue and the importance of scheduling time for revenue management. Jordan provides his contact information for those interested in learning more about his services.TakeawaysRevenue management is the practice of maximizing revenue by constantly improving how much money you make.Understanding guest avatars and their preferences can help you tailor your pricing strategy and attract the right guests.Utilizing OTA promotions can increase visibility and attract more bookings.Setting minimum night stays can help optimize your calendar and prevent undesirable bookings.Scheduling dedicated time for revenue management is crucial for monitoring pricing, adjusting strategies, and staying on top of market trends.Chapters00:00 Introduction to Revenue Management01:19 Background and Experience in Revenue Management04:29 2024 Revenue Trends06:13 Pricing Strategies for Special Events09:48 Adjusting Pricing Strategy for High Demand Dates12:56 Factors Influencing Booking Behavior14:49 Getting Started with Revenue Management15:40 Understanding Guest Avatars and Pricing22:18 Optimizing Minimum Night Stays25:41 Scheduling Time for Revenue Management28:53 Understanding Pacing30:39 Practical Tips for Increasing Revenue32:49 Contact Information33:35 ConclusionBefore we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn this episode, Jasper Ribbers interviews Steven Suarez, the founder of Argest Rentals, about his experiences in property management and the challenges he faced in scaling his business. They discuss the importance of building strong relationships with virtual assistants, navigating partnerships and breakups, and the art of renegotiating in business. Steven shares valuable insights and lessons learned from his journey, emphasizing the need for clear communication, restructuring, and perseverance in the face of adversity.TakeawaysBuilding strong relationships with virtual assistants is crucial for success in property management.Navigating partnerships requires clear communication and setting expectations from the beginning.Scaling back and reevaluating properties and clients is essential for long-term growth.Managing stress and emotions is important for staying focused and making sound business decisions.Appreciating and supporting virtual assistants fosters loyalty and improves team morale.The art of renegotiating is a valuable skill in business and can help navigate challenging situations.Chapters00:00 Introduction and Catching Up02:22 The Rum and Coke Story08:07 Challenges and Lessons Learned in Property Management14:07 Navigating Partnerships and Breakups19:23 Scaling Back to Scale Up23:41 Managing Stress and Emotions27:41 Building Strong Relationships with Virtual Assistants30:11 The Importance of Appreciating and Supporting Virtual Assistants35:00 The Art of Renegotiating in Business37:51 Where to Find Steven Suarez Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn today's episode of Get Paid for Your Pad, I had the pleasure to talk to Heather Loduca & Erin Donnelly, the founders of Pink Wall Designs, straight out of Canada. They are not only seasoned in interior design for short-term rentals and boutique hotels but also investors themselves, owning properties that stand as testaments to their expertise. The focus of our conversation revolved around the critical importance of interior design in the increasingly competitive Airbnb and short-term rental market. Design, as we explored, isn't just about aesthetics; it's crucial for marketing, creating memorable guest experiences, and ensuring your property stands out in a sea of options.Aaron and Heather shared insights on making properties Instagrammable, leveraging social media for direct bookings, and the significance of targeting your design to appeal to your ideal guest avatar. They emphasized the power of experiential design, suggesting features like selfie walls and thematic decor that resonate with your target audience and encourage social sharing. The conversation also delved into the strategic use of platforms like TikTok for market research and promotion, highlighting the platform's effectiveness in reaching potential guests quickly.Moreover, Aaron and Heather offered advice on collaborating with local businesses and influencers to enhance guest experiences and market your property more effectively. They underscored the importance of continually updating and refreshing your property's design to keep up with trends and guest expectations.For those interested in learning more about their work or seeking their services, Aaron and Heather can be found on Instagram at @PinkWallDesigns and TikTok under the same handle. They also have a website, Pink Wall Designs, Inc., for further information and contact details.This episode is a reminder that in the world of short-term rentals, creating an experience, not just a place to stay, is key to success. Designing with intention and focusing on the guest experience can set your property apart and ensure its success in the competitive market of 2024 and beyond. Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn today's insightful episode of "Get Paid for Your Pad," I had the distinct pleasure of discussing the evolving landscape of the short-term rental industry with Zohar and Eran Lotem, the dynamic sibling duo behind 5 Star STR. Their journey from various entrepreneurial ventures to leaders in the short-term rental space is not just a business story; it's a narrative of resilience, adaptability, and a deep understanding of what it takes to create exceptional guest experiences.Zohar and Eran, seasoned entrepreneurs, have a rich history of ventures spanning from retail operations across notable locations such as the Las Vegas Strip, California, Hawaii, and the Virgin Islands to unique forays into the fashion and CBD cosmetics industry. The transition to short-term rentals post-2016 marked a significant turn in their careers, especially following a life-altering accident in 2020 that Eran endured. This incident led them to establish the first accessible Airbnb short-term rental home in Las Vegas, a reflection of their dedication to inclusivity and adaptability.Their company, 5 Star STR, has seen remarkable growth, expanding its portfolio from four to 20 properties within a year. They specialize in managing high-end properties, catering to a premium segment of the market. What sets 5 Star STR apart is its dual approach to management: offering premium full-service and online service, each designed to deliver an unparalleled level of excellence to property owners and guests alike.During our conversation, Zohar and Eran shared their unique insights into the operational and strategic aspects of running a successful short-term rental business. They emphasized the importance of safety and meticulous maintenance in their properties, citing examples of unexpected safety hazards they have encountered and addressed in their properties. This level of attention to detail not only ensures guest safety but also reflects their commitment to providing a secure and comfortable stay.The discussion also delved into the challenges and opportunities unique to the short-term rental industry. The Lotem brothers highlighted the role of advanced technologies and property management systems in streamlining operations and reducing the need for extensive manpower. They contrasted their current business model with their past ventures, noting the shift from a pure revenue focus to creating value and memorable experiences for guests and property owners.A key topic of our conversation was their innovative approach to creating unique guest experiences. Zohar and Eran are exploring ways to differentiate their properties through high-quality, luxury furniture and unique features like custom wall prints from a vertical printer. This strategy aims to offer guests something more than just accommodation—it's about creating unforgettable experiences that resonate on a personal level.Zohar and Eran are also strong advocates for collaboration within the industry. They believe in joining forces with other industry players to acquire unique items for their properties, enhancing the overall guest experience and staying competitive in the market. This collaborative spirit is evident in their invitation to others in the industry to connect through their website, 5starstr.com, for potential partnerships and collaborations. Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn this episode of "Get Paid for Your Pad," I, Jasper Ribbers, engage in an insightful conversation with Madison Rivkin, founder of Mount. We delve into the concept of Mount, a platform revolutionizing the guest experience in short-term rentals. Focusing on how travelers book experiences, Mount connects local businesses offering diverse activities like brewery tours or rafting trips, making them easily discoverable online.Madison explains that Mount allows hosts and property managers to curate and offer a personalized list of experiences through their platform, enhancing guest satisfaction. For instance, a host in New York City could recommend an underground foodie tour in Chinatown or a donut tour in West Village. Each host creates a mini marketplace with a unique URL, which they can share with guests through various means, including QR codes in properties. This not only elevates the guest experience but also enables hosts to earn a commission.I discuss with Madison the distinctiveness of Mount compared to other platforms like Airbnb Experiences and Viator. Mount's unique selling point is its emphasis on personalization, making it appear as if the recommendations are directly from the host, unlike the more generalized offerings on Airbnb and Viator. Madison also highlights how Mount caters to off-the-beaten-path, local experiences, avoiding the 'tourist trap' feel of mainstream platforms.We explore the flexibility of Mount, discussing how hosts with unique local knowledge or resources, like hidden hikes or boats, can create their own experiences. Madison shares that Mount integrates with various property management systems (PMS) and guidebooks, simplifying the process for hosts to incorporate these experiences into their offerings.Delving into Mount's future goals, Madison mentions their ambition to embed experiences directly into digital guidebooks and to expand their eco-friendly mission, aiming to reduce tourist waste and promote sustainable tourism practices. Mount encourages the use of local resources and experiences, aligning with the trend of experiential travel, particularly popular among younger generations seeking unique, Instagram-worthy activities.Madison's journey, from founding Mount as a bike lock company at age 12 to its evolution into a travel experience facilitator, is both fascinating and inspiring. She emphasizes the importance of adapting to market needs and leveraging personal experiences to enhance their platform.For those interested in using Mount, the sign-up process is straightforward. Hosts can register on rentmount.com, create their mini marketplace, and start offering personalized local experiences to their guests. This integration of unique local experiences not only enhances guest stays but also helps hosts distinguish their offerings in a crowded market.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn this episode of "Get Paid for Your Pad," I welcomed Connor Paton, CEO and founder of Noshable, to discuss his innovative company that's enhancing the Airbnb experience. Noshable's service allows guests to pre-order groceries and have them ready in their Airbnb rental upon arrival. This service tackles a common inconvenience for travelers: arriving at a rental with no basic necessities like food and water.Connor shared the journey behind Noshable. The idea stemmed from personal experiences of inconvenience when arriving at unfamiliar destinations and the time-consuming process of grocery shopping. This led to the development of a platform where guests could effortlessly have their groceries delivered and stocked before they arrive. Connor's background in property management and prop tech, including his time at Realpha, played a crucial role in realizing the need for such a service.The process with Noshable is integrated into the Airbnb booking experience. Guests receive a link to pre-order groceries from a selection of over 20 major retail grocery stores, with the ability to order up to a year in advance. This integration ensures a seamless and hassle-free experience for both guests and property managers.Noshable is in its early stages, having recently completed beta testing in several states. Connor discussed the technical and operational aspects of Noshable, including their focus on standardizing operations to ensure consistency across locations. The company aims to expand to more areas, currently active in markets with Walmart, Kroger, and affiliate stores.For property managers, Noshable presents a cost-effective and potentially profitable solution. The platform is free for property managers, with a share of the markup on groceries and the ability to set their own delivery fees. This model provides an additional revenue stream and enhances service offerings.Connor emphasized the importance of removing friction in hospitality, drawing inspiration from companies like Disney. Noshable's service addresses the basic needs of food and accommodation, enhancing the vacation experience from the moment guests arrive.Further discussing future developments, Connor mentioned plans to integrate with property management systems, introduce an AI shopper for efficient grocery ordering, facilitate group orders, and expand to restaurant partnerships for dining experiences. These features aim to streamline the ordering process and expand the scope of services offered by Noshable.For more information, Connor directed listeners to the Noshable website, shopnoshable.com, and offered his contact for inquiries and collaborations via email (connor@shopnoshable.com) or LinkedIn.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Hosted on Acast. See acast.com/privacy for more information.

*** FREE REVENUE MANAGEMENT TRAINING***DATE: TUESDAY DECEMBER 12TH 1PM PST / 4PM ESTSIGN UP AT: https://www.getpaidforyourpad.com/webinar Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn this episode of "Get Paid for Your Pad," I had the privilege to host Mark Simpson, founder of Boostly, for an early morning discussion. Mark, known for his impact in the short-term rental space, shares insights from recent industry conferences, including the Bigger Pockets Conference, VRMA, and HostCon. He highlights the growing influence of Google in the vacation rental sector and its move to become the top meta search platform with Google Vacation Rentals. This shift is changing how travelers search and book accommodations, making them more price-savvy and driving the need for hosts to diversify their marketing strategies.Mark discusses the importance of understanding big players like Google, Airbnb, and Expedia, and how they're targeting growth in different continents. He emphasizes the need for hosts to have a diverse marketing presence, leveraging various channels to increase visibility. Mark also delves into the rising significance of short-form videos in influencing travelers' decisions, noting platforms like YouTube Shorts and TikTok as key drivers.Another significant topic we cover is working with influencers. Mark advises on the importance of establishing clear contracts and expectations with influencers. He suggests using platforms like Stay MO to connect with influencers and negotiate deliverables like Instagram stories, posts, and drone shots. The key, Mark notes, is engagement and relevance to your target market.Lastly, Mark talks about his latest endeavor – a documentary featuring two hosts over a year, highlighting their growth and lessons learned. This documentary, aiming to resemble a Netflix-style presentation, is set for a release on the Boosly YouTube channel with a live watch party.For those interested in direct bookings and leveraging Boostly's services, Mark mentions a special discount for listeners who mention "Get Paid for Your Pad" when booking a call with Boostly.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn this episode of "Get Paid For Your Pad," I had the pleasure of chatting with Brooke Pfautz, the founder of Ventori and Comparent, a vacation rental management platform. We delved into some exciting topics, so let's get started.Brooke kicked things off by discussing his book, "Vacation Rental Secrets," which is packed with insights from industry experts. One common theme throughout the book is the importance of avoiding quick fixes when facing challenges. Brooke emphasized that mistakes often arise from the desire to find a quick solution instead of the right one.One major challenge discussed was hiring the right talent for vacation rental management. Brooke stressed the significance of vetting potential hires upfront and using tools like predictive personality assessments from predictiveindex.com. These tools reveal the true personality of candidates, not just their interview personas, helping in making the right hiring choices.We also dived into Brooke's latest venture, Comparent, a platform connecting vacation rental homeowners with professional vacation rental managers. Comparent aims to provide transparency and help homeowners make informed decisions about property management. Property managers can claim their listings for free, and in the future, it will serve as a valuable resource for property managers and homeowners alike.During our conversation, Brooke highlighted the potential for property managers to use Comparent to demonstrate their credibility to homeowners. By showcasing their high ratings and reviews, property managers can gain an edge in a competitive market.Brooke's passion for elevating the vacation rental industry is evident, and Comparent is poised to be a game-changer. If you're in the vacation rental management business, it's worth exploring the platform at comparent.com.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Hosted on Acast. See acast.com/privacy for more information.

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>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn today's celebratory episode of "Get Paid for Your Pad," I had the privilege of speaking with my business partner, Eric Moeller, as we marked the momentous occasion of our 600th episode. Our conversation delved into the evolution of the hospitality industry and how it relates to the short-term rental space, inspired by the concept of 'unreasonable hospitality.Eric shared insights from the book "Unreasonable Hospitality" by Will Gierda, which emphasizes going above and beyond in guest experiences.This approach is not just about the service or the property, but about creating a profound human connection with guests. We discussed how this philosophy is now a core value of Free Wild, our venture, aiming to provide an exceptional hospitality experience that leaves guests in awe.We reflected on the journey of Airbnb and the short-term rental industry. Initially, the novelty of staying in unique properties was enough to captivate guests. However, as the industry has matured, there's been a shift towards creating memorable experiences, not just providing a place to stay. This evolution mirrors society's broader trends, where experiences are increasingly valued over mere transactions.Eric noted that in today's digital age, people are more aware of the possibility of exceptional stays, as seen on platforms like TikTok and Instagram. This awareness drives a demand for more than just standard accommodations. To meet this demand, we must focus on creating experiences that resonate with guests, offering them stories to share and memories to cherish.We also touched on how this philosophy could be implemented in short-term rentals, balancing the efficiency of automated systems with the personal touch of exceptional hospitality. Eric shared examples of how small, thoughtful gestures, like providing fresh water or adjusting the temperature to a guest's preference, can significantly enhance the guest experience.Finally, we discussed the future of short-term rentals and how leading with hospitality is crucial for success. The industry is shifting, with more unique, branded properties emerging, indicating a move towards prioritizing exceptional guest experiences. This shift is essential for creating sustainably successful rental businesses.In conclusion, this episode highlighted the importance of 'unreasonable hospitality' in transforming the short-term rental industry. By focusing on creating unique, memorable experiences, we can elevate the standard of hospitality and ensure guests have stories worth sharing. As we celebrate this milestone episode, we look forward to continuing these valuable discussions and exploring new ideas in future episodes.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn this episode of "Get Paid for Your Pad," I had the pleasure of welcoming back Derrick Barker, a returning guest and one of the founders of Nectar. Derrick, who boasts a diverse background in finance, football, and entrepreneurship, shared his journey from starting his first business at Harvard to becoming a real estate mogul with over $450 million in assets. He detailed his experience at Goldman Sachs as a bond trader and how he, alongside his wife and business partner Brittany, successfully managed a portfolio of 125 short-term rentals and over 4,500 apartment units.The focus of our discussion was Nectar, a company Derrick co-founded that provides working capital loans to professional real estate owners and operators. He explained how Nectar works with existing mortgages to offer flexible loans for various purposes, emphasizing their non-traditional approach of lending against net cash flow rather than the traditional mortgage model.Derrick shared insights into the current economic landscape, particularly the impact of rising interest rates on real estate and asset values. He explained the intricacies of how higher interest rates lead to decreased asset prices and discussed historical economic patterns, including recessions and the Federal Reserve's role in them. Derrick opined that the recent halt in rate hikes by the Fed doesn't necessarily signal an immediate economic upturn and that a typical recession might follow within about ten months of such actions.We delved into the challenges and opportunities in the current lending climate, with Derrick highlighting Nectar's role in providing liquidity to real estate owners in this environment. He also touched on the potential for buying opportunities during economic downturns, encouraging listeners to be prepared with liquidity to capitalize on such situations.Towards the end of our conversation, Derrick outlined the process for obtaining a loan from Nectar, emphasizing their focus on evaluating the actual cash flows and financial health of potential borrowers. He concluded by offering VIP treatment to listeners of "Get Paid for Your Pad" who reach out to Nectar for their lending needs, ensuring a speedy and favorable loan process.Overall, this episode provided valuable insights into the world of real estate financing and the broader economic landscape, offering listeners practical advice on navigating these challenging times.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn this episode of "Get Paid For Your Pad," I had the privilege of chatting with Steve from BetterTalent. We delved into some crucial topics related to hiring and team building in the short-term rental industry. Here's a concise summary of our enlightening conversation:Steve began by stressing the importance of hiring the right talent. He emphasized that taking your time to find the perfect fit for your team is crucial, even though it might seem challenging and time-consuming. Rushing into hiring decisions can lead to costly mistakes down the road.We discussed various roles that are vital for short-term rental hosts, including bookkeepers, virtual assistants, and operations managers. Steve highlighted the benefits of outsourcing roles like guest communications and revenue management to experts or specialized companies, especially in the early stages of your business. One key point Steve raised was the significance of revenue management. He shared insights into the complexities of managing rental rates in the short-term rental market, emphasizing the need for experienced professionals or outsourcing this task to experts who understand the nuances of the industry.We touched upon the concept of hiring in-house revenue managers and when it becomes economically viable. Steve recommended considering this step when your business manages a substantial number of properties, typically around a hundred or more.Steve also shared his insights into the challenges of hiring and retaining top talent in the short-term rental industry. He cautioned against making hasty decisions, such as offering stock options or partnering with the wrong individuals. He suggested that hiring slow and firing fast, when necessary, is a more prudent approach.For those interested in exploring opportunities in the short-term rental job market, Steve mentioned that BetterTalent offers a valuable weekly newsletter that features job listings from various companies in the industry. It's a great way to stay informed about job opportunities and industry trends.To learn more about BetterTalent and connect with Steve, visit their website at bettertalent.com. You can also reach out to Steve directly via email at steve@bettertalent.com. Additionally, he welcomes connections on LinkedIn, where he actively engages with industry professionals and shares valuable insights.In conclusion, our conversation with Steve shed light on the critical aspects of hiring and team building in the short-term rental industry. Taking your time to find the right talent, outsourcing wisely, and understanding the intricacies of revenue management are all essential elements for success in this dynamic field. Don't forget to check out BetterTalent's newsletter and connect with Steve to stay updated on job opportunities and industry knowledge. Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn today's episode of Get Paid for Your Pad, we had a fantastic conversation with Moira Sedgwick and David Curtis about their experiences and key takeaways from the VRMA conference. Moira runs A Chalet Collective and can be found on Instagram at @achalet.collective, specializing in hosting and designing vacation rental properties. Meanwhile, David Curtis operates We Host Canada, which you can discover on Instagram at @w.e.host and their website, wehostcanada.ca. They offer short-term rental management and property maintenance services.Throughout the episode, Moira and David shared valuable insights from the VRMA conference. We discussed the significance of providing an exceptional guest experience, the growing impact of AI tools on the industry, and the emergence of travel insurance options for hosts. Additionally, we delved into the challenges posed by hotel lobbyists in some markets and the need for advocacy within the vacation rental community.The episode emphasized the importance of being well-prepared for conferences like VRMA, managing your energy effectively, and making intentional connections with other industry professionals. We also touched upon the value of participating in panel discussions and how it can boost your credibility as an industry expert, ultimately benefiting your business.For those interested in learning more about Moira and David's businesses, you can visit their respective websites and social media profiles. Don't forget to follow Get Paid for Your Pad for more insightful discussions and expert insights in the vacation rental and property management industry. Stay tuned for our next episode! Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to downloadIn this episode of "Get Paid For Your Pad," I had the opportunity to delve into a fascinating conversation with Kelvin Mah from Rankbreeze. We discussed a range of critical topics related to Airbnb listings and how they impact your ranking on the platform.First off, we talked about the importance of having high-quality photos for your Airbnb listing. According to Kelvin's research, it's advisable to aim for at least 31 appealing photos in your listing. Properties with 30 to 60 photos tend to rank higher, and this could be due to the visual appeal and the opportunities for showcasing the property and its surroundings.Next, we explored whether it's better to have a strict or flexible cancellation policy. Surprisingly, Kelvin's data revealed that having a strict cancellation policy doesn't necessarily hinder your ranking. In fact, many top-ranking properties had such policies. It's important to remember that correlation doesn't always imply causation, so there might be other factors at play.We also discussed optimal check-in and check-out times for Airbnb listings. While 3 or 4 pm check-ins and 10 or 11 am check-outs are common, top-ranking properties often had later check-in times (4 pm) and earlier check-out times (10 am). This provides some leverage for hosts to offer early check-ins as a bonus to guests.One of the most surprising findings was related to allowing pets in your Airbnb listing. Contrary to what you might expect, properties that didn't allow pets tended to rank higher, especially on the top pages. This might be due to cleanliness concerns associated with pet-friendly properties.Throughout the conversation, we emphasized the importance of interpreting the data critically. While data is valuable, it's crucial to consider various factors and not jump to conclusions. Correlation doesn't always equal causation, and many elements can affect your Airbnb ranking.For more in-depth insights and details, be sure to check out the full episode of "Get Paid For Your Pad" with Kelvin Mah from Rankbreeze. You can find the episode on their website or on various podcast platforms. Additionally, don't forget to follow them on social media for updates and promotions related to their research and services.Overall, this episode provided valuable insights into Airbnb listing strategies and how they can impact your property's visibility and ranking. It's always essential to stay informed and adapt your approach to maximize your success as an Airbnb host. Hosted on Acast. See acast.com/privacy for more information.

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay Hosted on Acast. See acast.com/privacy for more information.

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>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download >>> Access the exciting features PriceLabs has to offer>>> Click here to start your 30-day free trialUse code: GPFYP and get $10 off your first month**In today's episode of "Get Paid for Your Pad," I had the opportunity to chat with Becca Madigan from PriceLabs, a dynamic pricing tool for short-term rental hosts. Becca shared some valuable insights and updates regarding PriceLabs, which I found both informative and practical for anyone involved in the short-term rental business.One of the key takeaways from our conversation was the importance of not over-customizing your pricing strategy. Becca emphasized that many hosts make the mistake of turning on various customizations without fully understanding the data behind them. Instead, she suggested that it's often best to leave pricing at default settings, making adjustments only when you have a deep understanding of your market and data.We also discussed the significance of comp sets, or competitive sets, in dynamic pricing. Becca explained that PriceLabs curates a comp set of 350 similar listings to help hosts understand their market better. This feature allows hosts to compare their pricing and occupancy to similar properties, providing valuable insights for pricing decisions.Becca introduced the new "Hyperlocal Pulse" algorithm, which is designed to enhance PriceLabs' pricing recommendations. The algorithm takes into account the unique characteristics of a property's immediate surroundings, ensuring that pricing is more accurate and reflective of local market conditions. Hosts can now migrate to this new algorithm to benefit from improved pricing strategies.Additionally, Becca highlighted the educational resources offered by PriceLabs, including webinars and training sessions, to help hosts understand and maximize the platform's capabilities. They have also introduced a revenue estimator tool that provides revenue estimates based on location and bedroom count.Becca encouraged users to reach out to PriceLabs support for assistance with algorithm migration and any questions related to their pricing strategy.In conclusion, my conversation with Becca Madigan shed light on the latest developments in PriceLabs and the importance of effective pricing strategies for short-term rental hosts. It's evident that PriceLabs is committed to helping hosts optimize their pricing and stay competitive in the market through data-driven solutions and educational resources. If you're a short-term rental host looking to enhance your pricing strategy, PriceLabs is definitely worth exploring. Hosted on Acast. See acast.com/privacy for more information.

*Save time & money with these Airbnb tools https://getpaidforyourpad.com/airbnbtools/*Grow your short-term rental business https://www.overnightsuccess.io/In today's episode of "Get Paid for Your Pad," I had an enlightening chat with Tom Lyons, diving deep into the complexities of revenue management for property hosts. Tom brought to the forefront the significance of grasping market trends. He shared an intriguing anecdote about how his team once decided to set their prices 20% lower than their competitors, a bold move that was met with skepticism by some property owners. This decision, however, wasn't made in haste; it was based on an informed understanding of market dynamics.Christmas trends were another focal point of our discussion. Tom illuminated a shift observed over the past few years, where the holiday season seems to be divided into two waves. While many competitors offer consistent prices from the 21st to the 31st of December, Tom has noticed a more nuanced trend. The first wave peaks around the 22nd to 24th, then dwindles a bit until the 26th, only to rise again from the 27th to the 31st. Recognizing such nuances, Tom expressed, is vital to strategizing pricing and length of stay.Speaking of length of stay, Tom identified it as a key factor that hosts, especially those with 1 to 25 properties, often overlook. A significant revenue increase can be observed when implementing a length of stay pricing strategy. Tom elaborated that the value of a customer staying five nights is certainly different from one staying two nights. Hence, prices should vary accordingly. He pointed out that tools like Wheelhouse are making strides in this realm, but being ahead of the curve is crucial.Wrapping up our discussion, I touched upon how property presentation, including photos and descriptions, can significantly influence pricing and guest decisions. Tom added that seasonal updates to these elements are beneficial. Moreover, he highlighted the importance of early bird and last-minute discounts to attract bookings.Tom graciously shared that those interested in learning more about CasaGo, the platform he represents, can explore their offerings and even franchise opportunities at www.casago.com. It's a comprehensive solution, supporting everything from revenue to housekeeping and marketing.I genuinely hope this episode provided valuable insights to our listeners. Whether you're new to property hosting or a seasoned pro, understanding your market and being flexible with your strategies can pave the way for success. Hosted on Acast. See acast.com/privacy for more information.

*Save time & money with these Airbnb tools https://getpaidforyourpad.com/airbnbtools/*Grow your short-term rental business https://www.overnightsuccess.io/In this episode of "Get Paid for Your Pad," I had a fascinating conversation with Landon Wilkinson about Host Share, a promising new platform for short-term home sharing.Host Share operates similarly to familiar vacation rental platforms, but it offers a unique twist. The primary focus is on allowing hosts to exchange stays in their properties with others around the world, creating a network for adventurous travelers and property owners.Here are some key takeaways from my conversation with Landon:How Host Share Works: Host Share simplifies the process by directly connecting to your existing property listings. It synchronizes your calendar with major platforms, ensuring that your availability is up-to-date. You won't manage your calendar within Host Share, but it will show your property's availability based on your other listings.Property Managers and Owners: If you're a property manager, you can utilize Host Share to add listings and invite property owners and staff as co-hosts. This unique approach can benefit property management companies by offering perks to owners and staff, such as free stays in other properties listed on Host Share.Preventing Abuse: To prevent misuse, Host Share has several controls in place. Travel privileges are linked to the active status of your listing on the platform. Delisting your property or frequently abusing the system can result in access restrictions.Expansion and Integration: Host Share is currently available in 22 countries, with plans for further expansion. While it aims to integrate with popular property management systems like Logify, you can still use iCal for avoiding double bookings.Future Messaging Features: In the initial beta phase, the platform will offer limited messaging capabilities, but full in-platform messaging will become available in the future.VRMA Conference: Host Share is set to attend the Vacation Rental Management Association International Conference in Orlando in October. Vacation rental management companies interested in the platform can participate in the beta.To join the Host Share community, you can sign up at hostshare.co, and there's a dedicated Facebook group for discussions and feedback. Membership will soon be available at $29.95 annually, offering substantial savings compared to other vacation rental platforms.I encourage you to explore Host Share and consider joining the community. It's a fresh approach to short-term home sharing that has the potential to become a significant player in the vacation rental industry. Don't miss out on the opportunity to be part of this exciting journey. Hosted on Acast. See acast.com/privacy for more information.

*Save time & money with these Airbnb tools https://getpaidforyourpad.com/airbnbtools/*Grow your short-term rental business https://www.overnightsuccess.io/In this episode of "Get Paid For Your Pad," I had the pleasure of conversing with Rebecca Ballart, an expert in revenue management for the vacation rental industry. Rebecca shared valuable insights into the world of revenue management, offering tips and strategies for hosts and property managers to optimize their earnings.Rebecca emphasized the importance of understanding your property's unique attributes and market demand. She stressed the need for daily monitoring of reservations and market data, ensuring that pricing strategies remain agile and responsive. Rebecca also highlighted the significance of setting a strong foundation for pricing, focusing on factors like base price, length of stay, and last-minute discounts.One standout point from our conversation was the discussion about the shrinking booking window. Rebecca challenged the notion that booking windows are naturally shrinking, suggesting that overuse of far-out premiums may actually discourage guests from booking in advance. Instead, she encouraged hosts to reevaluate their pricing models and consider more moderate premiums to entice guests to book further ahead while still protecting peak rates.If you're looking for more guidance on revenue management or want to connect with Rebecca, you can visit the Revenue Research website at https://www.revandresearch.com/ You can also find them on LinkedIn under "Rev and Research." For direct inquiries, you can reach Rebecca at rebecca@revandresearch.comAdditionally, Rebecca mentioned that she and her team will be attending various industry events throughout the year, making it a great opportunity to meet them in person, learn more about revenue management, and explore potential collaborations.In conclusion, this insightful conversation with Rebecca Ballart shed light on the intricate world of revenue management in the vacation rental industry. By focusing on foundational pricing, being attentive to market dynamics, and rethinking far-out premiums, hosts and property managers can optimize their revenue and stay ahead in the competitive vacation rental market. Hosted on Acast. See acast.com/privacy for more information.

In this episode of “Get Paid For Your Pad,” I had the pleasure of chatting with John deRoulet, an expert in the field of revenue management for short-term rentals. Our conversation delved into various strategies to optimize occupancy and revenue in this ever-evolving industry.We began by discussing the significance of minimum length of stay restrictions. John highlighted the importance of setting these restrictions strategically, using them as release valves rather than rigid rules. By doing so, we can accommodate shorter stays that fill gaps in our calendar without losing out on potential bookings. This flexibility can be a game-changer, especially in urban markets where one- to two-night stays are common.John emphasized the need to adapt to changing traveler behavior. While many people used to book flights before accommodations, this trend is shifting. Travelers are now more price-conscious, considering other destinations and timeframes if their initial plans become too expensive. This means we need to be proactive in adjusting our pricing and restrictions to remain competitive.We also discussed the impact of supply in the market. Although the growth of supply is slowing down, it won't decrease significantly anytime soon due to institutional investors and other factors. This means we need to focus on perfecting our revenue management strategies to thrive in a competitive landscape.Throughout our conversation, John shared valuable insights and tips, such as the importance of regularly reviewing your pricing tool's dashboard and embracing data-driven decision-making. Additionally, he discussed the benefits of engaging with potential guests to extend their stays, maximizing occupancy and revenue.For more in-depth insights and educational content on revenue management, John directs us to the Wheelhouse YouTube channel, where you can find webinars and conversations with industry experts.In summary, revenue management is a complex but essential aspect of the short-term rental industry. By adopting flexible minimum length of stay restrictions, staying attuned to changing traveler behavior, and continually fine-tuning our pricing strategies, we can maximize occupancy and revenue in this dynamic landscape. Remember to check out Wheelhouse's educational content for further guidance on mastering revenue management in the short-term rental business. Hosted on Acast. See acast.com/privacy for more information.

Save time & money with these Airbnb tools https://www.getpaidforyourpad.com/airbnb-toolsGrow your short-term rental business https://www.overnightsuccess.io/In this episode of "Get Paid for Your Pad," I had the opportunity to dive deep into the world of pricing and revenue management for vacation rental properties with Doug Truitt. We covered a range of important topics that every host should consider when setting their property's rates and managing their bookings.One key takeaway from our conversation is the importance of setting the right base price for your listing. Doug emphasized that while looking at what competitors are charging can be a good starting point, it's essential to recognize that each listing is unique. Your property's base price should consider factors like seasonality, weekdays versus weekends, and the amenities you offer.We also discussed the significance of understanding booking patterns. Doug highlighted the 30-day window before arrival as a critical period to monitor. If your occupancy isn't on track within this timeframe, it's time to assess your strategy.When it comes to adjusting prices, Doug recommended a strategic approach. Rather than making drastic changes, consider small, incremental adjustments to gauge their impact. You can also experiment with minimum length of stay restrictions to optimize revenue.Doug emphasized that your brand's reputation plays a crucial role. While lowering prices may attract more bookings, it's essential to strike a balance to avoid attracting lower-quality guests. Your property's reviews and overall guest experience should remain a top priority.Additionally, Doug mentioned the significance of post-booking strategies, including nurturing guests to become repeat customers. He stressed the importance of minimizing costs associated with third-party platforms and maximizing direct bookings.If you're interested in learning more about these pricing strategies and revenue management, Doug recommended checking out their podcast, "RevBytes," available on YouTube. You can also visit Roamy's website for more information or reach out to Doug directly at doug@romey.com.In summary, getting your pricing right for your vacation rental property requires a thoughtful approach that considers various factors, including your property's uniqueness, booking patterns, and brand reputation. Incremental adjustments, along with post-booking strategies, can help you maximize your revenue and build a loyal customer base. Hosted on Acast. See acast.com/privacy for more information.

***LABOR DAY PROMO*** GET 50% OFF LEGENDS X: COUPON CODE LABORDAYSIGN UP AT: https://www.overnightsuccess.io/xOffer valid until Tuesday September 5th Hosted on Acast. See acast.com/privacy for more information.

In today's episode of "Get Paid For Your Pad," I had an insightful conversation with Andrew Schur, the Head of Product at Hospitable. We explored Hospitable's evolution from its earlier incarnation as SmartBnB to its current role as an innovative solution for property hosts. Andrew highlighted Hospitable's pioneering use of AI in messaging, predating the current AI trend, and how they're continually leveraging AI to elevate the host experience.We delved into Hospitable's unique focus on catering to smaller-scale hosts, those with fewer than five properties. Andrew underscored how they offer an accessible, user-friendly platform at an affordable price point, positioning Hospitable as an excellent starting point for hosts looking to take their hosting endeavors to the next level. He also discussed the seamless integration of Hospitable alongside other property management systems, ensuring flexibility for users who wish to combine different tools for maximum efficiency.Andrew provided an exciting glimpse into Hospitable's upcoming endeavors, notably their vision for an app store that simplifies and enhances the tool selection process for short-term rental hosts. This app store aims to break down barriers and enable hosts to harness a diverse range of solutions without being tied to a single channel manager.In today's episode of "Get Paid For Your Pad," I had an insightful conversation with Andrew Schur, the Head of Product at Hospitable. We explored Hospitable's evolution from its earlier incarnation as SmartBnB to its current role as an innovative solution for property hosts. Andrew highlighted Hospitable's pioneering use of AI in messaging, predating the current AI trend, and how they're continually leveraging AI to elevate the host experience.We delved into Hospitable's unique focus on catering to smaller-scale hosts, those with fewer than five properties. Andrew underscored how they offer an accessible, user-friendly platform at an affordable price point, positioning Hospitable as an excellent starting point for hosts looking to take their hosting endeavors to the next level. He also discussed the seamless integration of Hospitable alongside other property management systems, ensuring flexibility for users who wish to combine different tools for maximum efficiency.Andrew provided an exciting glimpse into Hospitable's upcoming endeavors, notably their vision for an app store that simplifies and enhances the tool selection process for short-term rental hosts. This app store aims to break down barriers and enable hosts to harness a diverse range of solutions without being tied to a single channel manager.As a special treat for 'Get Paid For Your Pad' listeners, Hospitable is offering an exclusive discount of 25% for three months! Whether you're just starting your hosting journey or managing multiple properties, Hospitable's user-friendly platform with AI-powered messaging can elevate your hosting experience. Don't miss out on this opportunity to streamline your operations and enhance guest communication. To claim your 25% discount for three months, simply visit https://hospitable.com/ and use promo code:GPFYP and take your hosting to the next level with Hospitable! Hosted on Acast. See acast.com/privacy for more information.

Grow your short-term rental business https://www.overnightsuccess.io/xSave time & money with these Airbnb tools https://www.getpaidforyourpad.com/airbnb-toolsIn a recent conversation with Syed, I had the privilege of diving into the captivating narrative of his journey within the dynamic world of short-term rentals. From humble beginnings in 2018 to evolving into a powerhouse with over 300 units, Syed story is a rollercoaster ride teeming with invaluable insights and experiences.Our conversation unveiled the pivotal moments that have shaped Syed's trajectory. The year 2021 marked a significant milestone as hereached 200 units, generating an impressive $7 million in revenue, and securing remarkable $1.5 million in profit. The subsequent year, the tide turned post-COVID, ushering in unprecedented demand while also highlighting the challenges of managing seasonal fluctuations that could impact cash flow.This juxtaposition of soaring summers and challenging winters showcased the volatile nature inherent in the short-term rental industry.A standout lesson from Syed's narrative is the immeasurable value of partnerships. He emphasized the pivotal role of his collaborationswith landlords, which not only ensured a consistent supply of properties but also stood as a testament to the symbiotic nature of these relationships.During our conversation, Syed underscored the importance of cultivating a robust team. With over 100 employees, half of them stationed inthe Philippines, his decentralized workforce efficiently manages diverse aspects of the business. This approach thrives on the foundation of loyalty,above-market compensation, and fostering an environment of growth and learning.For those seeking inspiration and an insider's perspective into the exhilarating world of short-term rentals Syed's Instagram presents avaluable avenue. Through his updates, followers can gleams insights, anticipate challenges, and celebrate victories as he continues navigating theever-exciting, occasionally turbulent realm of short-term rentals.Follow Syed on Instagram @syedbnb Hosted on Acast. See acast.com/privacy for more information.

In this episode of "Get Paid for Your Pad," I had the incredible opportunity to sit down with Yonah Weiss, a true guru in the realm of real estate tax strategies. Our conversation took us on a deep dive into the world of cost segregation, a groundbreaking concept that promises substantial tax benefits for real estate investors. Despite a few technical hiccups during the podcast, the wealth of knowledge Yonah shared was nothing short of enlightening.During our chat, Yonah masterfully unraveled the complexities of cost segregation—a strategy that involves dissecting a property's components to accelerate depreciation deductions. Unlike the conventional linear depreciation approach, where the property's value is spread over decades, cost segregation enables investors to categorize elements into shorter depreciation schedules, ultimately leading to considerable tax savings.What truly caught my attention was the revelation about "bonus depreciation." Yonah elaborated on recent tax amendments that have elevated bonus depreciation to a staggering 100% for qualifying assets. This game-changing strategy empowers investors to claim the entire depreciation deduction in the very first year, potentially slashing tax liabilities and releasing funds for additional investments.Our conversation seamlessly transitioned to the practical side of cost segregation, from the nuts and bolts of the cost segregation study to the tangible benefits it offers. Yonah underscored the importance of engaging specialized professionals to conduct comprehensive cost segregation studies. This study involves classifying components, cost allocation, and crafting a meticulous report that ultimately becomes your new depreciation schedule—an essential tool with significant implications, especially for recently acquired properties or those earmarked for significant renovations.The timing of cost segregation studies was a key topic we explored. Yonah stressed the importance of conducting these studies promptly after property acquisition. He also shared a golden nugget of advice: if you're contemplating substantial renovations, it's wise to initiate the cost segregation process on the original asset before implementing changes.As we neared the conclusion of our conversation, Yonah extended an offer that piqued the interest of listeners—a free upfront feasibility analysis for those intrigued by the potential of cost segregation. If you're keen to explore this strategy for your properties, Yonah can be found on various social media platforms, including LinkedIn, Twitter, and Instagram. Alternatively, you can reach out through his website at yonaweiss.com or Madison SPECS (Specialized Property Engineering Cost Segregation) at madisonspecs.com.To wrap up, this episode of "Get Paid for Your Pad" provided an immersive dive into the realm of cost segregation. Yonah's insights illuminated a tax strategy that holds the promise of reshaping the way real estate investors approach their financial endeavors. The allure of cost segregation lies not only in its potential tax advantages but also in its ability to equip investors with the tools and insights needed to make astute, forward-thinking decisions that amplify returns. Hosted on Acast. See acast.com/privacy for more information.

During this engaging conversation, I had the privilege of chatting with David Curtis, the founder of WeHost Canada and an adept property manager. Our discussion provided a comprehensive overview of the intricate world of short-term rental management, touching on essential strategies and insights for success.David began by sharing his personal evolution, moving from a co-hosting model to establishing WeHost Canada as a prominent property management company. He emphasized the crucial role of transparent contracts and agreements with clients to facilitate effective collaborations and minimize potential disputes. Open communication and setting clear expectations emerged as key practices to ensure a harmonious working relationship.A pivotal shift David discussed was his transition from co-hosting to directly managing properties on his account via a Property Management System (PMS). This switch empowered him to deliver an elevated level of service, ensure consistent branding, and mitigate potential risks associated with the co-hosting approach.Fee structures also emerged as a critical topic, with David advocating for a management fee structured around gross rental revenue. While acknowledging that industry norms vary across markets, David emphasized the importance of appropriately valuing services. Prioritizing exceptional value and an outstanding guest experience should inform fee decisions.The conversation explored the significance of cultivating a distinct brand identity, particularly within the short-term rental niche. David underscored WeHost Canada's specialization in inner city family homes, notably in St. John's, Newfoundland. These uniquely designed Jelly Bean Row style homes have garnered popularity among travelers.David extended an invitation to fellow professionals and enthusiasts to connect and learn from his experiences. He underscored the value of mutual support and growth within the community. Interested individuals can reach out to David directly at David@wehostcanada.ca or explore the listings and services provided by WeHost Canada at their website, https://www.wehostcanada.ca.In conclusion, my conversation with David Curtis offered a treasure trove of insights into short-term rental property management. From emphasizing transparent agreements and effective communication to advocating for a hands-on management model and fostering a strong brand identity, David's journey is a testament to the boundless opportunities within the industry. Hosted on Acast. See acast.com/privacy for more information.

Sign-up for Hostfully with code LEGENDS and get $100 off your onboarding fee: http://www.hostfully.com/legendsXSave time & money with these Airbnb tools https://www.getpaidforyourpad.com/airbnb-toolsGrow your short-term rental business https://www.overnightsuccess.io/Hey everyone, Jasper here! Today, I had the pleasure of chatting with Brise Carpenter from Hostfully, a property management software and digital guidebooks service that we've been using and loving for quite some time now. I want to share with you some key insights from our conversation and how Hostfully can revolutionize your property management experience.Hostfully offers an integrated platform that combines digital guidebooks with their property management system (PMS). This integration makes it incredibly convenient for hosts to manage their vacation rentals efficiently. Brise emphasized that Hostfully's PMS is not a magic bullet; it requires dedication and time to fully leverage its potential. However, I can vouch for the fact that once you invest that time and effort, the results are well worth it.For those interested in using Hostfully's services, you can sign up for either the property management software or the guidebooks directly on their website. The great news is that they offer a special discount code, "Legends," which grants you $100 off and 50% off onboarding costs for the PMS. If you opt for an annual subscription, you'll also receive an additional 10% discount. For guidebooks, "Legends" code users get three months of free access.One aspect I truly appreciate about Hostfully is their commitment to engaging with users actively. They love working with dedicated hosts who are eager to improve their business and have the perseverance to overcome challenges. It's evident that Hostfully values its customers, and I believe this level of customer support can significantly benefit any vacation rental host.It's crucial to remember that Hostfully's PMS is an investment in your property management journey. While some may initially expect immediate results, the reality is that it requires a learning curve and time to optimize its potential. I can understand how hosts might hop between various PMS options, seeking a quick fix, but investing in Hostfully's and giving it the time it deserves will yield long-term rewards.In conclusion, I highly recommend Hostfully for property managers and hosts who are dedicated to improving their vacation rental business. The integrated approach combining the PMS and guidebooks, along with the valuable support provided by the Hostfully team, sets it apart from other options on the market. To experience the benefits firsthand, head over to their website and use the "Legends" code to get started on optimizing your property management workflow with HostfullyAlright, that's it from me today. Stay tuned for more exciting content, and I'll catch you in the next podcast. Have a fantastic week! Hosted on Acast. See acast.com/privacy for more information.

Follow Freewyld on Instagram: https://www.instagram.com/stayfreewyld/Grow your short-term rental business => https://www.overnightsuccess.io/xSave time & money with these Airbnb tools => https://www.getpaidforyourpad.com/airbnb-toolsIn this episode of "Get Paid for Your Pad," I am thrilled to share the exciting news about our latest project, FreeWild. Together with my friend Eric Moeller, we are embarking on a journey to help people disconnect from the digital world, reconnect with nature, and be fully present in the moment.FreeWild is not just another ordinary short-term rental concept. It's a unique experience that allows guests to choose between two modes: "Free Mode" and "Wild Mode." In "Free Mode," guests can enjoy all the modern comforts they're used to, with fast internet, streaming services, and full connectivity. But the magic truly happens when you decide to switch to "Wild Mode."In "Wild Mode," we encourage you to put away your devices and embrace the natural surroundings. Our properties are strategically located near beautiful nature spots, such as mountains, lakes, and beaches, offering the perfect backdrop for reconnecting with nature and yourself. During this mode, you'll discover a world of offline experiences, from old-fashioned board games and vinyl records to treasure maps that lead you to explore the area.The inspiration behind FreeWild came from our own experiences during the COVID pandemic. It was a challenging time when we felt the need to find balance between staying connected and taking a break from technology. After going through our own journeys of self-discovery and reconnection, we realized that there's a demand for such experiences. That's when FreeWild was born, a place where you can escape the digital noise and immerse yourself in the beauty of the world around you.We want FreeWild to be more than just a short-term rental concept. It's a movement, a lifestyle, and a community of like-minded individuals who value being in the moment and finding joy in nature. Through our Instagram page @freewild, we will keep you updated on our progress, share stories, and inspire you to incorporate "Wild Mode" moments into your daily life.Our vision is to expand FreeWild globally, touching the lives of millions of people who long for a genuine disconnection from the virtual world. By embracing Wild Mode, we hope to create more meaningful experiences, deeper connections with loved ones, and a greater appreciation for the natural wonders that surround us. Hosted on Acast. See acast.com/privacy for more information.

Grow your short-term rental business https://www.overnightsuccess.io/Save time & money with these Airbnb tools https://www.getpaidforyourpad.com/airbnb-toolsIn today's episode of Get Paid for Your Pad, we had the pleasure of hosting Nate and Dan, two successful short-term rental hosts, as they shared their valuable insights and strategies for running a profitable Airbnb business. Throughout our conversation, they discussed various topics ranging from pricing strategies to maximizing five-star reviews and even touched on their upcoming venture, a real estate fund.Nate and Dan emphasized the importance of tiered pricing based on the length of the stay. They found that offering two-night stays for bookings within 10 days, three-night stays for bookings within 25 days, four-night stays for bookings within 40 days, and five-night stays for bookings beyond 60 days helped them optimize their revenue. They also mentioned allowing one-night "orphan" bookings to fill gaps in their calendar, but with increased prices to attract quality guests and avoid potential issues.When it comes to earning five-star reviews, Nate and Dan shared their proven strategies. They implemented an automated guest messaging system that sends messages at various points during the guest's stay, including a follow-up message the day after their first night. They also leveraged DoorDash and Instacart to fulfill guest requests promptly and efficiently. By actively engaging with their guests, providing exceptional service, and requesting five-star reviews, they managed to maintain a remarkable streak of 117 consecutive five-star reviews, which significantly boosted their rankings on platforms like Airbnb.Throughout the conversation, Nate and Dan highlighted the importance of educating guests on the Airbnb review system, as many guests are accustomed to the traditional hotel rating system. They explained that a five-star review signifies a good stay, while anything below that indicates a less satisfactory experience. By educating their guests and encouraging open communication, they created a positive guest-host relationship, resulting in satisfied guests and higher ratings.In terms of advice for aspiring hosts, Nate and Dan emphasized the significance of taking care of guests, actively listening to their needs, and personalizing their interactions. They also stressed the importance of creating efficient systems and processes to save time and address any recurring issues promptly. Additionally, they highlighted the value of building a strong team and fostering a sense of camaraderie among team members, recognizing their contributions, and celebrating successes together.Towards the end of the episode, Nate and Dan discussed their latest venture—a real estate fund aimed at allowing investors to passively participate in short-term rental properties. They expressed their ambition to scale their business, diversify into different property types, and continue growing their success.To learn more about Nate and Dan's short-term rental properties in Ohio, visit their website at HomeHopPM.com. If you're interested in investing in their real estate fund or have any inquiries, you can reach out to Nate at Nate.klatt@homehoppm.com. Hosted on Acast. See acast.com/privacy for more information.