53 | An interview with an Airbnb Photographer | with Matthew Garsky

Uncategorized Mar 05, 2020

 

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We’ve talked about this topic a TON, but we’ve yet to have a professional photographer on the show.

That’s why we’re so excited to have Matthew Garsky, who has been photographing Airbnb properties for several years now — he’s even been hired by Airbnb to do photography!

Unlike real estate (where photos can draw in potential buyers but they will almost always visit the physical location),  photos both create a first impression and are your best opportunity to market your rental. We talk about what opportunities you may have as a photographer to get hired, the types of creative shots you could take for your property, and the things people keep getting wrong in their photography.

 

Resources:

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52 | From Flipper to Short Term Rentals | with Becky Rhey

Uncategorized Feb 27, 2020

 

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We are on the road this week for a short term rental sponsored SLEEPOVER! And we are visiting Becky Rhey, a fabulous host with an impeccable sense of style.

Becky started out as a house flipper, but while sitting on a house her and her husband decided to try Airbnb as a way to recoup some of the costs while they were waiting for the right time to sell. After that, she was hooked, and she wanted to start managing houses instead of flipping them.

She talks about what the transition from flipping to rental was like, how she finds decor for her rental, allowing photographers to use her space, and collaborating with local businesses.

 

Resources:

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51 | Why Raising the Bar Matters | with Sharon Keefe

Uncategorized Feb 20, 2020

 

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Why should we focus on raising the bar in the vacation rental industry?

Sharon Keefe is back on the show! As a reminder, Sharon has spent the last 7 years conducting knowledge management in the vacation rental space and coaching others on how to run their rentals better and make more money.

No matter where you are renting, we all have the same mission, and we all need to do better so our neighbors and communities can be excited to have short term vacation stays in their town.

 

Resources:

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50 | The REAL Challenges of Hosting… Are you up for it?

Uncategorized Feb 13, 2020

 

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Hosting is a challenge, and we want to know if you’re up for it!

We want to prepare you for what we call “hosting fatigue.” There are going to be challenges to deal with, but if you know they’re going to come, you can prepare for them.

Here are some of the challenges you can expect to face when you dive into the world of short term rentals:

  • Owner/Co-Host: Owners will expect you to take care of everything, but occasionally there will be problems that only they can deal with. You will have to explain to them in a compassionate way that this is a partnership.
  • Guests: You are on call the entire time you are renting, so be ready for that, and block time (or find external services) if there are times you need to be off the grid. Guests also may not treat properties the way you would, and that’s okay. 
  • Platform: Regardless of what platform you go with, you will occasionally have to deal with technical problems. 
  • Property:...
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49 | 8 Danger Zones in a Short Term Rental and How to Avoid Them | with Justin Ford

Uncategorized Feb 06, 2020

 

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As promised, Justin Ford is back to talk about all things safety! We’re going to keep him on as a recurring guest all year, and today he’s going to talk about 8 danger zones in a short term rental.

In case you missed the first episode, Justin is a vacation rental safety expert. He works at a company called Breezeway, a property operations & services platform. He understands what it means to be a host, but he also understands why safety needs to be your top priority.

 

Here are 8 danger zones you need to be aware of:

  1. Each designated bedroom and/or sleeping area in the rental dwelling  needs to provide a clear secondary means of exit. Make sure to provide the best opportunity for renters to escape and consider all restrictions that may prevent it.
  2. If the property uses propane or natural gas for cooking or heating, have all gas connections, plumbing and appliances inspected annually for leaks. If a rental uses natural gas or...
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48 | 7 Ways to Make Money in the STR Industry if You're a Stager or Designer

Uncategorized Jan 23, 2020

 

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We are all about education here on the show, and when we are really experts on something, we want to share it with you. One of those things we want to share with you today is how to make more money and diversify your income using staging or designing skills applied to the short term rental industry.

 

These are 7 ways you can make more money as a stager, designer, or host:

  1. Add consulting to your list of services. If you know anything about the short term rental market, let people know about it and add it to your list of services.
  2. Stage-to-rent designing. There are some big differences between staging for sale or renting because furniture and props used in sales staging aren’t meant to be used. Expertise in this field is incredibly valuable to other hosts.
  3. Installing. This is a lot of work, and something people usually underestimate how much is involved. When someone is starting from zero in making a space livable, it’s going to take time...
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47 | Different Worlds, Same Mission: Airbnb Advice from a Vacation Rental Expert | with Sharon Keefe

Uncategorized Jan 16, 2020

 

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A lot of people think of short term rentals as a new, crazy thing. But if you think about it, people have been doing this kind of thing all the time in vacation spots.

Sharon Keefe has spent the last 7 years conducting knowledge management in the vacation rental space. She is a vacation rental property management pro, and we’re so excited to chat with her. She coaches other vacation rentals on how to do better, be better, and make more.

While vacation rentals have been doing this for a while, their mission overlaps so, so much with short term rentals. But there are also a lot of misconceptions out there between a professional vacation manager and an Airbnb host.

 

Resources:

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46 | How to Make Your Rental as Safe as Possible | with Justin Ford

Uncategorized Jan 09, 2020

 

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Are you making safety a top priority for your Airbnb or short term rental? You are taking responsibility for your guests, and that goes beyond cleanliness, amenities, and standing out.

Justin Ford is director of safety and certification programs at Breezeway, a software company that makes it easier to manage property care and maintenance operations. Justin focuses on the operations side specifically, helping property managers and owners maintain the safety of vacation rental properties and short term rentals.

It is easy to only look at the bare minimum of safety, such as smoke alarms and fire extinguishers, but there is so much more to keep in mind and many pillars of safety that may not be on your radar at all. We’re going to go over why safety needs to be at the top of your list.

 

Why does safety tend to get overlooked?

Safety is overlooked because we are comfortable and familiar with our space. It’s easy to assume that everyone else...

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45 | How to Bounce Back When You Let Your Guests Down

Uncategorized Jan 02, 2020

 

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Letting down your guests sucks, but when it happens (and it will happen), what do you do next?

We’re going to share the experiences we’ve had and how we bounced back. You are not alone if you’ve made a mistake. No matter how good you are, things are going to happen, and what matters in those moments is how you handle it.

When something goes wrong, here’s what you need to do to bounce back:

  • Commiserate with someone who will understand: If you know someone who also runs a rental, share the experience with them. Tell them the story of what happened, and get feedback on what you should do.
  • Take care of the customer: The first thing you need to do is make good on your guests. Assure them that you understand their frustration, apologize, don’t make excuses, and do what you need to do to make it right. You need to go above and beyond the inconvenience caused to them in order to make it up.
  • Create systems to prevent this in the...
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44 | What Is Rental Arbitrage & Should You Do It?

Uncategorized Dec 25, 2019

 

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We’re going to talk about rental arbitrage. That sounds like one of those terms a sleazy businessman would use to sell you on some kind of scam, but it’s really not! Arbitrage is an important concept to understand, and leveraging it correctly could allow for HUGE growth potential in your business!

 

So what exactly is arbitrage?

Essentially, arbitrage is purchasing something in one market and then introducing it in another market where there is higher demand for profit. For example, you could rent a location from a landlord (long term rental market), furnish that location, and rent it out on Airbnb (short term rental market). The goal is to take home more from the short term rentals than you are paying in rent.

 

Why should I do retail arbitrage?

With retail arbitrage, you could potentially scale up your Airbnb or short term rental business faster. If purchasing a property isn’t necessarily in the cards for you, this allows you...

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