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138. Buying with the End in Mind

Uncategorized Nov 18, 2021

We are all about starting fast without overthinking things. You don’t have to have everything dialed in and figured out before you dive into your first short-term rental property. But one thing you should have some idea of at the very beginning, is the end. That is, what do you do with that property once your STR journey is over? You never know where life is going to take you, so it’s smart to have these things in mind as things change over time. 

There are many reasons why you may want to sell your short-term rental investment. Maybe you’re tired of going out to that location, your creativity is spent on that particular property, it’s no longer meeting your expenses, or the market has changed. Maybe it’s a seller’s market and time to cash out, or maybe your life has simply changed. Whatever the reason, it’s important that you don’t get stuck with your property if you ever run into that kind of situation.

We’re going to...

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#STRShareSunday: the Zin Retreat

strsharesunday Nov 14, 2021

It’s time for #strsharesunday and today we are sharing the Zin Retreat!

This private guest house is hosted by Adri and located in Lodi, California, and she does a great job at highlighting her private, fenced-in courtyard for her guests to enjoy.

If you've been hosting for awhile and you've had some financial success, maybe it's time to upgrade! Adri has both a Keurig and a French Press, and giving your guests options and broadening your horizons will improve your guests' experience!

We love the wallpaper work she's done in the bathroom, and on her instagram, she links to her local tourism website and some really specific blogs for things to do in the area.

PRO TIP: Utilize your local tourism website so your guests can learn more about the area and partake in some of the local activities! Well done, Adri!

The Zin Retreat on Instagram

The Zin Retreat on AirBnb

Book directly

We would love to feature YOU, so don’t forget to use #STRShareSunday to get your chance!...

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137. Lessons for STR Hosts from a Digital Nomad

Uncategorized Nov 11, 2021

You can learn a lot from professional hosts, but what about a professional guest? In this episode, we reverse engineer what pulls at a potential guest’s heart strings when making a booking, and compare what we find to things we think or assume are their priorities.

Zach Busekrus is the Co-Founder of Sponstayneous, a weekly newsletter that brings subscribers the best last-minute deals and upcoming steals on Airbnb, and host of the Behind the Stays Podcast, a show that explores the stories behind some of the best Airbnb listings and the hosts who've made them memorable. Zach and his wife (and fellow Co-Founder) Gabby have spent the last 12 months living on Airbnb. They've stayed in 50 places from California to Maine and (almost) everywhere in between.

When COVID-19 hit, they decided to break out of their 750-square foot apartment in Washington, DC and beta test the digital nomad lifestyle by hopping around to new Airbnbs every 2-4 weeks. They’ve spent countless hours on...

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#STRshareSunday: Cozy Escapes

strsharesunday Nov 07, 2021

It’s time for #strsharesunday and today we are sharing Cozy Escapes!

This rental is located in Shenandoah, Virginia, and completely took our breath away. The imagery that they feature on their instagram account is absolutely unreal and makes you want to immediately pack up and visit.

They let you know that it's a family friendly place, but they also let you know what you might want to bring that you might forget that might enhance your stay. They have done a wonderful job in their listing letting people know exactly just how far off the beaten path their rental is, including details about the gravel road and what vehicles may or may not be a good idea to travel it with.

This serves as a great reminder that even if something is second nature to you, it may not be to everyone else, and it's always better to include these kinds of details in your listing.

Rachel and John have done an excellent job with their listing, so well done! Be sure to give them some love on their...

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136. Growing a Business While Giving Back with Coconut Condos’ Angie Leone

Uncategorized Nov 04, 2021

Continuing a series of interviews featuring our favorite speakers from the 2021 Vacation Rental Managers Association International Conference in San Antonio, Texas, we sit down with Angie Leone, owner and CEO of Coconut Condos, a vacation rental management company founded in 2011 on the beautiful island of Maui. 

At the conference, Coconut Condos was named the 2021 Vacation Rental Management Company of the Year and in 2019, Angie was named the SBA Maui Small Businessperson of the Year. Coconut Condos is proud to have been named to the Inc5000 List, Hawaii’s Fastest 50, Hawaii’s Best Workplaces, and Hawaii’s Top 250.

Starting as a home-based venture with one vacation rental (her own), Angie’s expanded to a robust 10-person plus operation with 60 vacation rentals across West Maui. She and her husband also have two homes, one in Maui and one in Nashville, that they rent short-term as well.

Coconut Condos is committed to providing maximum returns for...

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#STRShareSunday: WanderChatt

strsharesunday Oct 31, 2021

It’s time for #strsharesunday and today we are sharing WanderChatt!

We are so lucky to have been able to experience these container homes on the side of Lookout Mountain in Georgia. It was INCREDIBLE.

Michael is one of our Hosting Business Mastery members, and we had him on the show in episode 124.

The photos on their instagram do NOT do it justice. When you look at their listings, they've really woven together an amazing location and the experience of the actual containers. Each container has a different layout and amenities. There is so much attention to detail in all aspects of the property.

They actually opened up during the pandemic, and they have given their guests this incredible refuge. There is no wifi or TV, so the goal is to really enjoy the breathtaking views. No matter the time of day (sunrise, sunset, during the day), the views are absolutely incredible. These spaces are small but mighty and they give such an amazing guest experience.

Bonus: the containers,...

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135. Revenue Management for the Rest of Us

Uncategorized Oct 28, 2021

Last week we gave a recap of our experience at the 2021 Vacation Rental Managers Association International Conference in San Antonio, Texas, and we said we wanted to bring you our favorite speakers from that conference to go deep directly for you. We’re kicking that off now with Heather Richer.

Heather Richer is a revenue management and distribution expert with over a decade of experience. She and her team have done revenue management for hotels, resorts, casinos, restaurants, and have been focusing on short-term rentals for the last 3+ years.

We'll discuss the fundamentals of revenue management for short-term rentals. Even if you don’t feel like a revenue expert, it's critical to understand so that you can steal market share and beat your competition. She’s going to help you feel more confident, regardless of what your hosting situation happens to be.

She also shares her revenue management cycle:

  • Forecast
  • Optimize
  • Control
  • Monitor

If you do these four things as...

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#STRShareSunday: Mountain Lake Bungalow

strsharesunday Oct 24, 2021

It’s time for #strsharesunday and today we are sharing Mountain Lake Bungalow!

This beautiful bungalow is located in the Catskills and hosted by Melinda and Matilda. They do an amazing job highlighting their outdoor spaces in their listing, and this place is all about the outdoors with truly wonderful views. But their indoor design is impeccable too! The decor is inspired by their native country, Sweden.

We are heading into the fall and winter, with so many still working from home, Melinda and Matilda let you know that their space is WFH-friendly, even going so far as to list their wifi speed. There are desks in each of the bedrooms (one has an amazing view)! They also have an adjustable desk for those who like to stand while working, and a printer!

If you have a little extra room in your budget, making your space WFH-friendly (or homeschool friendly) is a great way to encourage people to come stay with you!

Mountain Lake Bungalow on Instagram

Mountain Lake Bungalow on...

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134. Our Experiences at the 2021 Vacation Rental Managers Association International Conference in San Antonio, Texas

Uncategorized Oct 21, 2021

Prior to this, we hadn’t been to an in-person event since before COVID and we forgot just how great it is to share a space with so many amazing, like minded people. 

And for those of you who couldn’t attend the Vacation Rental Managers Association International Conference in San Antonio, Texas with us, we’re going to break the event down, covering everything we learned. 

Listen for tips about how to communicate in order to get what you want out of people more effectively, the importance of due diligence when you choose not to manage a property yourself, and how to handle negative reviews both from a customer standpoint and an emotional one too.

 

Resources:

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#STRShareSunday: Mouse House Rentals

strsharesunday Oct 17, 2021

It’s time for #strsharesunday and today we are sharing Mouse House Rentals!

We love the name... but we love the name more after we read their story! We were recently in San Antonio for a Vacation Rentals Management Association Conference (stay tuned for an episode about that), so we wanted to give them some love!

We have a whole section in our Hosting Business Mastery Method about knowing your WHY. Why do you host? Mouse House has their why completely nailed down in one of their posts, and it was hard for us not to get choked up reading it. Head over to their page and read it and we guarantee it will make you want to stay with them.

We LOVE how they have shared their why and we encourage you to do the same. Don't be afraid to share your story and share why you host with your guests! If you don't have your why, this industry can be very, very difficult. And when things go wrong with your rental, coming back to your why will keep you grounded and motivated to keep pushing...

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