What to Expect When Starting an Airbnb ( aka Short Term Rental )
Hosting your available home or property is a great way to earn extra income depending on your level of commitment. However, the operation of starting and maintaining your business takes time and effort. Whether you desire to run your Airbnb business on the side or intend to do it full-time, you will need to dedicate yourself completely in order to do it successfully. Here you will learn what to expect when starting your new business and some tips that will ensure confidence when building a short term rental empire.
Know the Cost
As in any new business, there are up-front costs. Depending on the condition of your property and if it’s fully furnished, you might be able to start with minimal cash outlay. Remember that every dollar you spend must be recouped before you can make a profit.
Make sure that you are including all of the little things in your budget such as home appliances, silverware/dishes, television/wifi, towels/sheets, etc. You will have additional and...
Episode 078 - How to Keep Kids Safe in Your Short Term Rental
SHOW NOTES & LESSON
- Prevent Furniture from Tipping like Bookcases & Dressers.
- Prevent Heavy Objects, like TVs, from falling over on children.
- Remove or Place Up High Fragile or dangerous items.
- Secure Pictures.
- Lock Up Poison & Cleaning Supplies.
- Remove Buckets & Containers that collect & hold water.
- Safety Knobs on Stove & other dangerous appliances.
- Kitchen Cabinets should have danger high & plastics & less heavy items down low.
- Cover all Outlets.
- Locks on Dangerous Drawers.
- Cords Zip Tied & Tucked Away to prevent pulling them down.
- Drawer Locks on Dangerous Drawers.
- Blind Cords Cut & High.
- Windows Can't Open more than 3 inches.
- Doors have safety locks & alarms by pools/traffic.
- Water Heater turned down to 120 degrees to prevent scalding.
- Hair Dryers & Irons up high.
- Safety Latch for Toilet Lids.
- Foam Protectors on Sharp Cornered Furniture.
- Baby...
How to Get More Positive Reviews
There was a time not so long ago when there was no rating system on Airbnb. In fact, there were very few AirBnB owners and they receive a lot of business without making very much effort. Yes, it used to be you could pick up some furniture from Goodwill and throw a lamp in your spare room and make money. No more!
Today, there is fierce competition among AirBnB owners in order to attract large numbers of guests to their properties. Nearly all guests look at the reviews left by previous guests to get an idea of the quality of service, the cleanliness of the unit, and the experience they can hope to expect in a particular AirBnB property. When so much depends upon positive reviews, here are some easy ways using which you can get positive reviews for your listing on Airbnb.
Ask, Ask, Ask!
I cannot stress enough the benefit of setting up a 5-Star Review from the Get-Go!
Right away, in every communication we have with our guests, we mention...
Episode 077 - Newbies: What You Don't Know You Don't Know
SHOW NOTES & LESSONS
OBVIOUSLY - the first thing to do is to make certain that your STR is LEGAL where you are located. That's first and foremost.
01) Make sure you have Proper Insurance. Get our free download here.
02) Treat your business like a business, not a hobby. Form an LLC and make certain you never, ever co-mingle your funds. Keep receipts for EVERYTHING!
03) Hire a Bookkeeper, especially if you aren't good with numbers or you aren't very organized with taxes. You will need one!
04) Location, location, location! The location of your STR is absolutely key to creating a good income. You want the absolute best location you can possibly afford that will earn you money.
05) Cleanliness is next to Godliness! IT HAS TO BE CLEAN!! No excuses, ever!
06) Great mattresses are super important. Cover your mattresses and pillows with protective covers/pads that prevent Bed Bugs (nasty things that are...
Episode 076 - Why You Must Know Your Marketing & Who You Serve
SHOW NOTES & LESSONS
What are some things that you can do in order to amp up your marketing and build your revenue in a hot market?
01-02) Check the basics, like your photos. Are they professionally done and is the best one your thumbnail? Does your headline boast your best feature? Does it grab your attention and hold it?
03) Floorplans - you can get one on the cheap at fiverr.com and place it in your listings.
04) You want to snap a pic of a Google map and the minutes from your place to the hottest destination near you. "We're 4 minutes to the university" highlights your location wonderfully!
05) Uh, speaking of location and any other information inside your listing - BE HONEST! Don't highlight a location where you are NOT or boast amenities that you don't have. You will only create angry guests that way!
06-07) Hire an interior designer and cover your place with art. Art on the walls is a must. Bare walls...
Smart Messaging Using Smartbnb
For an Airbnb host, the ability to send informative messages to guests in a timely manner is an important part of the business. There are many instant messaging apps but one tool that has gained massive popularity among Airbnb owners these days is Smartbnb.
The popularity of Smartbnb stems from the ability to save you tremendous amounts of time by automating your messages to your guests. For example, you may send out a “Welcome" & "How to Check-in” messages the day before a guest’s arrival. It’s most likely the same message each time and you may even have set up the template inside of Airbnb’s messages. Now, just link Smartbnb to your Airbnb account and it will send automated messages to your guests at the times you desire. If you want to save your time and enhance the experience of your guests, there is no better messaging tool than Smartbnb.
Sending Messages is Time-Consuming But Necessary
Sending messages to...
Episode 074 - Begin by Designing 2020: How to Start the Year Off Right
SHOW NOTES & LESSONS
Read The Miracle Morning & Take the 30-Day Challenge!
The Miracle Morning is a great way to start off, not just a new year, but an entirely new decade! 2020 is going to be the Best Year Ever as long as we decide and make it so! Start with reading the book.
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- Live in alignment of your values
- Cutting things out vs adding thing in
- Letting go of the fears that are driving you
Being vulnerable isn't easy because we are afraid of being judged or not being loved. So, we allow the fear of not being loved, the fear of losing someone or something, the fear of losing money or the fear of "not being enough" drive us to an uncomfortable existence.
Take these steps NOW to make 2020 the Best Year Ever!
Step #1 - Know Yourself
Identify your highest three values for 2020. Focus on these three and only these three this year.
Step #2 - Love Yourself
Shut down anything that isn't those top 3 & shows self-love.
...
How to Market Your Property on Other Platforms and on Your Own
You cannot relax after listing your property on Airbnb, thinking bookings will happen automatically. Times have changed dramatically and today Airbnb hosts must work hard to earn large numbers of bookings from their guests. There is fierce competition among Airbnb hosts to catch the attention of tourists coming to their cities. They would do anything to win over their competitors. In such a scenario, it becomes important to market your property on various platforms including your own.
Beautiful Photographs Can Do Wonders
Photographs play a huge role in catching the attention of tourists coming over to your city. Stunning photographs of the interiors and exteriors of the property allow tourists to visualize them living inside during their trip to your property's destination. These photos should be able to weave a story around your property, enticing tourists to book.
Make Use of Reviews Left Behind by Your Guests
People are curious to know about the...
Episode 067 - Interview with Napa Valley Chris (Young) on His $6k Airbnb Settlement - Part 3
SHOW NOTES & LESSONS
Part One of our interview with Napa Valley Chris, Christopher Young.
Links to his Facebook Page:
https://www.facebook.com/Napa-Valley-Chris-2271342579571610/
Links to the interview ABC News did with Chris:
Links to the story of this robbery:
Episode 066 - Interview with Napa Valley Chris (Young) on His $6k Airbnb Settlement - Part 2
SHOW NOTES & LESSONS
Part Two of our interview with Napa Valley Chris, Christopher Young.
Links to his Facebook Page:
https://www.facebook.com/Napa-Valley-Chris-2271342579571610/
Links to the interview ABC News did with Chris:
Links to the story of this robbery:
