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Creating Videos to Promote Your Short Term Rentals

In this age of internet and social media, if you are not making clever use of digital marketing, you are certainly missing the bus on reaching some potential guests. This is particularly true for a business-focused Short Term Rentals. Obviously, we know the importance of professional pictures.  You must be using beautiful photos of your property to entice potential guests.  But… are you placing videos to promote your vacation rental, too? Videos catch the attention of large numbers of guests and have become very popular in the STR Industry, especially in vacation rentals.  It’s the latest trend!

 

Here are some tips to make the most of these promotional videos.

 

Photos are Good.  Videos are Better.

 

It is almost criminal not to make use of technology when it is available to you for free. By making promotional videos of your vacation rental, you can get two steps ahead of your competitors who are still trying to catch the attention of...

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Episode 048 - How to Be a Good Neighbor and Why It's Important

 

  

SHOW NOTES & LESSONS

WHAT CAN A GOOD NEIGHBORS DO FOR YOU?

01) Provide Safety & Security for you & your Guests.

02) Help with things like a dead car battery, allowing maintenance men in, keep spare keys, sign for packages, and stocking your inventory.

03) Communicate with guests when you can't.

04) Give you peace of mind.

05) Advocate for you with HOA & other organizations.

06) Stop loud parties, too many people, things getting stolen, or other strange activities.

07) Increase your Network: people you know.

 

WHAT THINGS CAN YOU DO TO BE A GOOD NEIGHBOR?

01) Do things for your neighbors like mow their lawns, bring over fresh baked goods, or get them souvenirs from your travels.

02) Show pride of ownership & take care of your property & theirs.

03) Be respectful & polite at all times.

04) Add rules so your guests are respectful, too. No pets or parties.

05) Let them know the Comings & Goings. Keep them informed.

06)...

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Episode 047 – Lessons from the California Exodus

 

 

SHOW NOTES & LESSONS

OVER 5 MILLION PEOPLE HAVE LEFT CALIFORNIA NOW DUBBED "THE CALIFORNIA EXODUS"

Although people are moving into the state while others are moving out, Cali has still lost more than 1 million people and the population continues to shrink.

 

Who's moving in?

Those making $200,000 plus per year with higher education from tax-burdened states like New Jersey, New York, and Illinois (also seeing massive Exoduses).

 

Who's moving out?

Those making $55,000 and below with no college education.

 

Where are they moving to?

States with much more affordable housing like Texas, Arizona, Nevada, and Oregon.

 

CALIFORNIA HAS 5 OF THE TOP 10 MOST EXPENSIVE RENTAL MARKETS

 

What a One Bedroom Rents for in:

Los Angeles $2249 month

San Francisco $3400 month

Las Vegas $925 month

Phoenix $945 month

 

What a Two Bedroom Rents for in:

Los Angeles $3200 month

San Francisco $4500 month

Las Vegas $1122 month

Phoenix $1137 month

...

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Episode 046 - Why You Shouldn't Treat Your Short Term Rental Like a Long Term Rental

 

  

SHOW NOTES & LESSONS

COMPARE INCOMES FROM A SHORT TERM RENTAL TO A LONG TERM RENTAL

2 Bed/1 Bath

Long Term Rental

1 Year Lease

$1200 month

 

2 Bed/1 Bath

Short Term Rental

Daily Rate

$87 per night

82% occupancy

$2140.20 month

 

2 Bed/1 Bath

Short Term Rental

Airbnb's Weekly

10% Discount

$609 for 7 days

-$60.90 discount

$548.10 per week

rent out 3 times

$1644.30 per month

A Loss of $495.90 mo

or $5950.80 per year

 

2 Bed/1 Bath

Short Term Rental

Airbnb's Monthly 

28% Discount

$2610 for 30 days

-$730.80 discount

$1879.20 per mo

 100% occupancy for

$1879.20 per month

A Loss of $261.00 mo

or $3132 per year

 

Use Vacancy Instead

Short Term Rental

Our Monthly 

18% Discount

$2610 for 30 days

-$469.80 discount

$2140.20 per mo

Same as your original Single Day!

 

WHERE DO I FIND MY PER DAY RATE AND OCCUPANCY RATE?

If you've been a host more than a year, use last year's numbers.

If you haven't been a host for a year yet, then use...

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Episode 045 – To Nest or Not to Nest: Controlling Your Guests’ Experience

 

 

 

SHOW NOTES & LESSONS

Forums are a Great Place to _____________.

A. Learn from other Hosts.

B. Bitch to and with other Hosts.

C. Learn from Guests' Experiences.

D. All the Above (Hint: This one!)

Nest is a great way to control your units when there's no one in them.

An AC unit works best when it's set no lower than 68 degrees.  Under that and you're asking for trouble because that's when units will start to freeze up, which could potentially harm your unit.

What is the definition of Host?

What is the definition of Guest?

Be a gracious host and allow your Guests to be comfortable.

A locked thermostat screams, "I don't care if you are comfortable!"

Stop the Madness!!

  • No more War and Peace sized Rules
  • No chore lists for Guests (they're not your kids!)
  • No "fixing" the washers and toilets so they use less water (unless they are BUILT that way, ie. Energy Efficient)

You only need a few rules.  Here are mine:

01)  No Smoking

02)  No Pets

03) ...

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Episode 044 – 5 Ways to Stay Ahead When the Competition Gets Tough

 

 

  

SHOW NOTES & LESSONS

5 Ways to Stay Ahead When the Competition Gets Tough

01) Back to Basics

Take a look at your Headline/Title of your Listing.  Does it highlight your best feature?

What about your photos?  Please, tell me you had them taken by a professional.

02) Know Your Competition

Use sites like AirDNA to keep an eye on your competition.  What is their average room rate?  What is their occupancy rate?  Put a spy in their camp!

03) Don't Compete for Last Place!  

You can't win the game of undercutting your competition, so don't even try to go there.  Instead, be better and charge what you're worth.  Use dynamic pricing tools like Wheelhouse to price your units.

04) Make Your Place SHINE!

Use a theme or and anti-theme to make your place stand out among the rest of your competition.  Make certain your place looks amazing!

05) Go Above & Beyond in Service

Make certain that you offer something or do...

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Episode 043 – What is an Airbnb Experience & How You Can Get in on Them

 

 

 

SHOW NOTES & LESSONS

Experiences:  What are they and how do you get in on them?

  • Food & Wine were big for a long time.
  • Any kind of activity that connects you with nature.
  • Any activity that showcases your city (what they are known for)
  • Yoga is big... but HORSE Yoga is really big!
  • Meditation, Hiking, Biking, Dancing
  • Cooking, Grilling, BBQ Lessons, Smoking Foods
  • Just add Wine... adding wine to any of the above is a BONUS!
  • Mix and Match, any two activities are better than one; Food & Wine, Dinner & a Show, Stand-up & Fall Down (Booze), etc.
  • Which leads us to creating a Clever Name... like "Forest Bathing" instead of hiking.

If you can't be there, just make a video of you teaching someone how to use one of your cool features - like a snow cone machine or a margarita machine*.

*make sure you buy a SquareTrade Warranty for those cool appliances and use security tape so you can tell when the machine has been used.  

WHAT PRODUCTS,...

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How to Launch Your Vacation Rental Business

Running a vacation rental business seems attractive and easy but it is not a cakewalk for most owners. You must be prepared to face stiff competition from not just hotels and hostels in your area but other vacation rental owners in attracting guests to your property. You must spruce up your property and provide amenities that appear attractive to potential guests.  

 

Here are some useful tips to keep in mind when launching your vacation rental business.

 

Use More Than One Platform

 

I use two platforms for my properties.  One is great in the west and the other is better in the southeast.  The success of your vacation rental business depends upon whether you can reach your target group of guests or not. By using different platforms, one at a time or more, you can make sure that your property becomes visible to all tourists coming to your area whenever they conduct a search online. In addition to listing your property on Airbnb and other short-term...

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Episode 039 – Theme Your BNB to Add Value

 

 

 

SHOW NOTES & LESSONS

THEMES WE FOUND ON THE INTERNET:

Castles

Tree Houses

Safari

Honeymoon

Ocean

50 Shades of Gray

Rock n Roll/50's Diner/Sock Hop

70's/80's Themed

Roaring 20's/Speak Easy

Wine Cellar

Cruise Ships

Vegas

Farming/Sustainability

Eco-friendly

Futuristic

Space

Soda Parlor

Arcade

Circus

Carnival

Fun House/Magic

THEMES TO EXPAND ON:

Board Games: Candyland, Monopoly, Risk...

Video Games: Mario Bros., Pacman, Fortnite, Minecraft, Zelda...

Theme Parks: Disneyworld, Universal Studios, Six Flags, Sea World...

Western: Cowboys, Horses, Saloons, Westworld...

Books: The Hobbit, Harry Potter, Alice in Wonderland...

Superheroes & Cartoon Heroes: Ninja Turtles, Batman, Ironman, & on & on...

Brands: Oreo, Coke, Pepsi, Starbucks...

Holidays: 4th of July, Christmas, Halloween...

 

WHAT BOOKS, PRODUCTS, SERVICES, OR LINKS WERE MENTIONED...

Please use our Affiliate Links whenever possible and help support the show.  Thank you!

Recommended...

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How to Deal with Bookings Cancellations

When you are running vacation rental business, your aim is to get maximum bookings for maximum profit.  Whether you focus on a high nightly rate or on high occupancy, you want a good return on your investment.  If you start to experience cancellation problems or lower booking frequency, it can be a blow to your business.  Cancellations are even tougher because not only do you lose out on the income you would have made but, depending on the timing, it may be more difficult to refill that spot.  You may now find that bookings have slowed down considerably during that time frame.  Ouch. Here are some tips to anticipate and prevent these types of booking cancellations.

 

Look at Your Cancellation Policy

 

Is it too easy for guests to book a reservation and then cancel their reservation with just a few clicks later on?  If yes, then you need to make changes to your Cancellation Policy.  We have ours set to “Strict” for a good...

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Course Registration Re-Opens Soon!

We've got something AMAZING in store for this year's class!  You won't believe all of the trainings and videos that we've added... plus

We've added interviews with some amazing experts in all areas of our business.  People to help you build and grow what could potentially be the very business that carries you to financial freedom!