Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | STR Revenue Management

Are you thinking of hiring an operations manager to help scale your Airbnb business?

Before you start interviewing candidates, it’s important to know exactly what an ops manager does and carefully consider whether that’s the hire you need right now.

Aaron Whelan is the Chief Operating Officer here at Overnight Success. He has extensive operations management experience across several industries, primarily serving clients in the coaching, consulting and online education space before joining our team a year ago.

On this episode of Get Paid for Your Pad, Aaron joins me to discuss the responsibilities of an operations manager and describe the top three qualities to look for in a COO for your Airbnb business.

He explains how to decide what tasks you want to delegate and build a job scorecard for the roles, offering advice on when to build systems and how to train new hires on your short-term rental processes.

Listen in for Aaron’s insight around the most common challenges entrepreneurs face in achieving scale and find out what it takes to operate your Airbnb business like a machine!

• Aaron's experience as an Airbnb guest (including 4 years as a digital nomad)
• Aaron’s advice for STR hosts around listing photos, communication and welcoming touches
• The role of an operations manager in a vacation rental business
• How to decide what responsibilities you want to delegate and build a job scorecard for the role
• Why Aaron recommends hiring an experienced operations manager who knows every aspect of the STR business
• The top 3 qualities to look for in an operations manager for your Airbnb business
• Aaron’s insight on the most common challenges entrepreneurs face in scaling a business
• When an Airbnb host should start thinking about building systems
• Aaron’s experience working with Overnight Success and the company’s systems mindset
• How a clearly defined vision and customer avatar make decisions easier
• The open role for Digital Content Manager on the Overnight Success team

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No matter the size, all business owners have the same challenges, just on a different scale.

And hiring is one of the biggest challenges any leader can take on in their business. When Eric and I started hiring, we looked for one thing, somebody with the skills to complete a task. Since then, we've evolved in our business and how we seek to fill the roles on our team.

On this edition of STR Conversations, Eric and I walk you through the 4 biggest lessons we've learned about finding the right team members.

We discuss where to start the hiring process and the tools you can use to scope out the competition so you can be sure you are hiring snipers instead of generalists. Plus, we'll share an insider tip on how to attract and hire A-Players, no matter the size of your business.

Listen in for a look at our specialized application funnel and how we measure the success of our team members. Plus, we share the most valuable tips we've gathered from the experts on finding the people who understand your vision and who will be a part of your team for the long haul.

Would you like to be part of the Overnight Success Team? We are Hiring! We're seeking a Digital Content Manager and an Enrollment Specialist.

Know someone who would be a good fit? We're now offering a hiring referral bonus, so be sure to forward this to those A-Players in your network and be sure they tell us you sent them.

• How hiring evolves within a company as the company grows
• The BIG difference between busy team members and those who move the needle
• How to develop the skills that will help you cut through the BS and discover someone's true character
• Why hiring slow and firing fast is actually a win-win for all parties involved
• How to use Glassdoor and Upwork to scope out both the talent and the competition
• How to use a referral program to invest in your network and find top talent
• How to incentivize the best talent to join your company even when you can't afford them (YET)
• Our key piece of advice to alleviate the fear of hiring A-players
• Why sharing MORE details about your company vision is the biggest key to successful hires

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Airbnb Summer Release 2022 completely revamped the whole search function at Airbnb.

Last week on the show, Kelvin Mah, the founder of Rankbreeze and an Airbnb SEO specialist, and I talked about these changes, but there just wasn't enough time to get everything in, so we're doing Part II this week.

On this episode of Get Paid for Your Pad, Kelvin joins me for a quick recap of the 8 changes Airbnb has made.

Listen in as we walk through what our research revealed about how Airbnb determines which categories to place your property in, which photo they display with your listing, and specific "art" search terms you can use to get your listing found in the design category. Plus, why the photos you include with your listing matter now more than ever. 

We'll share 5 action steps every host can take right now to optimize their Airbnb property listings for more clicks with this new search rollout. 

• How Airbnb determines which categories to place your listing in
• Why Airbnb's new algorithm changes your cover photo based on guest selections
• Why you should optimize the look of your first five listing photos (don't forget mobile)
• How to shine the spotlight on your property features for more category listings
• How to dial in on your location to help Airbnb understand where to put your listing
• Why NOW is the time to invest in amenities to rank in higher value categories
• What "art" terms you can use in your property listing to be found in the design category
• How Rankbreeze helps Airbnb hosts optimize their listings
• The 5 biggest action steps to take NOW to optimize your listing for more clicks

Rankbreeze

Get Paid for Your Pad YouTube Channel

How to Improve Your Listings’ Search Rank in Airbnb Categories Part I (Ep. 474)

Airbnb May 2022 Update | Optimization Strategies Rankbreeze Blog

The Airbnb 2022 Summer Release: Introducing a new Airbnb for a new world of travel

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We officially hired our first team member for our Freewyld brand!

We’ve hired a Virtual Assistant (VA) named Mei who will help us start building our brand.

On this edition of STR Conversations, Eric and I share how we worked with a company called Virtual Staff Finder to hire our VA and the process they used to help us find the right Virtual Assistant for our Freewyld team.

We share the 3 most common questions students in Legend X have about hiring a VA, plus the biggest mistakes people make when hiring that can lead to hiring the wrong team member. Eric shares the plus-minus time tracking process he uses to determine which tasks to delegate, plus, I share my secret for accomplishing more tasks each day.

We discuss how to use a job scorecard to improve your job description and increase your chances of hiring the RIGHT person for the job.

Listen in for insight into how to find the perfect VA for your Airbnb hosting team, so you free yourself from the day-to-day tasks of managing your business and focus on building your business.

• The biggest reason for outsourcing the lower-level tasks in your hosting business
• Why a virtual assistant is the first team member we hired
• Why we chose Virtual Staff Finder to help us find our VA
• The 80/20 rule for systems and training for your Airbnb team
• The biggest challenge when hiring a virtual assistantHow to take the overwhelm out of hiring team members
• What shifts our VA will be working for us in Freewyld
• What a Voice Over IP (VoIP) can do for your Airbnb business
• The most valuable thing you can do BEFORE you hire a virtual assistant
• Eric’s plus-minus trick for figuring out which tasks you should delegate
• Jasper's game-changing plan to get more work done daily
• Why job scorecards are invaluable in finding the RIGHT fit for your team

How to Hire and Train Virtual Assistants (Ep. 352)

How to Leverage Virtual Assistants to Scale Your Hosting Business (Ep. 407)

Virtual Freedom: How to Work with Virtual Staff to Buy More Time, Become More Productive, and Build Your Dream Business by Chris Ducker

The One Thing by Gary Keller

The 4-Hour Workweek by Timothy Ferriss

5 Multitasking Myths Debunked, Plus 6 Ways to be Productive Without Task Switching

Virtual Staff Finder

RingCentral

DISC Assessment by Tony Robbins

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Airbnb just released the biggest change to Airbnb categories in a decade.

They completely changed the search on Airbnb, leaving everyone wondering how it will affect their listing and if it will still show up.

Kelvin Mah is the founder of Rankbreeze and an Airbnb SEO specialist. Rankbreeze is a listing optimization software that helps you optimize your listings to make sure you show up in the Airbnb search results.

On this episode of Get Paid for Your Pad, Kelvin joins me to explain how Airbnb has transitioned from a destination-focused search to an experience-focused search and what he believes prompted this change.

Listen in as we walk through how you can use additional information in all the areas Airbnb allows to come up in more searches.

Kelvin says, "One of the rules around ranking on Airbnb is fighting the filter because everything a guest does is essentially filtering."

Kelvin shares his insight on how to zoom in and supercharge your listing to get more clicks for MORE BOOKINGS.

• How Airbnb is working to shift people's short-term rental investing habits
• What are the new Airbnb categories and Split Stays feature
• How to test 3-day minimums to get more Split Stays
• Does your Airbnb title still play a part in your listing
• The 2 biggest battles of getting the booking conversion once a user clicks on your listing
• Why not using photo captions is a missed opportunity for more bookings
• How to audit the amenities on your Airbnb listing for appearance in more categories
• How Rankbreeze uses its amenities analyzer to pinpoint the amenities at top-rated properties
• How Airbnb uses price anchoring to garner more bookings
• Why NOW is time to get new photos of your Airbnb property
• How to focus and supercharge your listing to stand out, get more clicks, and more bookings

Rankbreeze

The Airbnb 2022 Summer Release: Introducing a new Airbnb for a new world of travel

How Airbnb Personalization Affects Search Rankings Get Paid for Your Paid (Ep 276)

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Last September, when Eric and I started building Freewyld, our new short-term rental brand, we took over an existing Airbnb business—four cabins on three acres in Idyllwild, California. At that time, we took over the whole business, including the staff.

But over time, we ran into some challenges working with the existing cleaning team.

And then the challenges escalated. We realized the cleaning staff wasn’t the right fit for our company; it was getting so bad that it was putting us in a hectic host position and affecting our bookings and reviews.

It was time to make a change.

On this edition of STR Conversations, Eric and I discuss why we decided to partner with a management company for Freewyld. We share the most frustrating parts that happened in our situation and walk you through the options we looked at when we decided to move on from the team we had in place. 

Listen in for insight into how we made this transition from negative team members to a rock-solid A-plus team. We’ll walk you through how making this transition helped us step back from controlling all aspects of the business and more fully into our lane of brilliance to make Freewyld more scalable.

• What to do when the team you have is not a good culture fit with the business you're building
• How surrounding yourself with negativity brings down your entire operation
• How having the wrong team in place keeps you from building your vision
• How bookings (and reviews) can be challenged if you don’t have the right cleaning teams
• How we transitioned away from negative team members and found a better culture fit
• How we negotiated a cost-effective agreement for higher-level support for our properties
• What we learned about bringing on experts
• How surrendering control over some aspects of the business leads to growth
• The biggest advantages of hiring and upleveling a team
• How investing in yourself and your business leads to a higher ROI
• The immediate payoff of our new team partnership

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With larger property management companies looking to add to their portfolios, we're seeing more Airbnb entrepreneurs selling their businesses.

But what can you do to structure your business to ensure it's an attractive acquisition target?

Julie George discovered the world of Airbnb in 2016 when she listed her one-bedroom unit on the platform. In November 2016, she established Host My Home, one of Australia's largest Airbnb property management companies. In 2019, Julie sold her lucrative business to a larger company to concentrate on mentoring and consulting other budding entrepreneurs to build a business in the sharing economy.

On this episode of Get Paid for Your Pad, Julie joins me to explain the process she went through as she prepared her business for sale and how you can structure your business, so it's attractive to buyers.

Julie says, "If you've got ten or more properties that you are managing in a property management portfolio, get ready! You're going to get a knock on the door. I can almost guarantee it."

Listen in for Julie's insight into why NOW is the time to be sure you've structured your business so it's attractive to buyers—even if you're not currently thinking of selling.

• The one thing you need to determine before you decide to sell your Airbnb business
• What can you do to structure your business to make sure it's an attractive acquisition target
• Where do you find the company that will buy your Airbnb business
• How to make your profit margin as strong as possible
• How asking the right questions can help you determine your best business moves
• 3 ways to find a suitable STR business buyer
• What was Julie's biggest mistake when she decided she wanted to sell her Airbnb business
• When can't you sell your Airbnb business
• What comes after the sale

Million Dollar Host

Vacasa

Million Dollar Host by Julie George

The Million Dollar Host (EP 300) with Julie George

How to Work ON instead of IN Your STR Business (EP 346) with Julie George

Julie George's Takeaways Coaching 52 Airbnb Hosts Through Legends (EP 397)

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On this episode Eric and Jasper talk about the biggest Airbnb update in a decade, the 2022 summer release.

What are the biggest changes, and what are the consequences for guests and hosts?

Listen in and find out!

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Are you looking for another revenue stream for your short-term rental space?

Does your property have unique features that would be great for a photoshoot or filming a cooking show?

Enter Peerspace the Airbnb for events. Launched in 2014, Peerspace is a global peer-to-peer marketplace that allows you to rent your creative space by the hour for events, meetings, and productions.

On this episode of Get Paid for Your Pad, Matt Bendett, the Co-Founder of Peerspace, joins me to share more about the Peerspace concept and some of the unique ways Peerspace hosts are using their spaces. He walks us through everything from cleaning fees to QR codes and everything you need for a great Peerspace listing.

Matt says, "The magic for us is when people come together with a great idea. And it gets facilitated because they've entered this really cool space. Every day, every booking, there's a story. It's that intrinsic thing beyond making money itself that a host can be proud of that they were able to facilitate. It's really cool."

Listen in as we discuss how the Peerspace platform may offer another revenue stream for entrepreneurs who understand how an online platform facilitates peer-to-peer reservations. We'll delve into how our listeners can combine Peerspace with Airbnb to maximize occupancy and revenue through hourly bookings.

●     How Peerspace differs from Airbnb

●     What are the requirements for hosting a Peerspace

●     The 3 most popular types of event bookings on Peerspace

●     What is the core clientele of Peerspace

●     How to combine Peerspace with Airbnb to maximize occupancy and generate more income through hourly bookings

●     How many Peerspace listings can you create from your rental space

●     How to price your listing to attract the types of rentals you want for your space

●     What are major productions looking for in locations for filming

●     What amenities are the most requested by people looking for in a Peerspace rental

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Peerspace

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Are tiny homes the solution for our Freewyld experience?

The jury is still out!

For those of you who may have missed our recent podcast, we are investigating tiny homes as an option to help get our Freewyld community on the road to being completed and profitable much sooner than the estimated timeframes we are receiving from both contractors and counties.

If you missed it, you can listen here.

On this edition of STR Conversations, Eric and I discuss some of the comments and questions from our listeners about the options available in the tiny homes market right now. We’ll also share some ‌construction solutions being looked at by other entrepreneurs for their own STR spaces in the current economy.

Listen in for insight into the different zoning laws for tiny homes and what that adds as far as challenges go. We’ll walk you through a recent experience we’ve had with rising construction costs. We’ll look at how that is affecting our budget and bottom line for Freewyld, and how that’s playing a part as we continue to investigate the tiny homes offering as a solution.

We’ll walk through some recently acquired information about lofts in STR spaces and the challenges going in that direction would present and how it would shrink our customer avatar. Plus, we’ll discuss some options to make the experience at Freewyld more appealing to more of our customer base.

●     Why the understaffing and overstuffing in the airline industry will make the driving markets a solid STR investment

●     Why our listener Catherine chose to build her tiny homes on-site and how that affects her branding

●     How much the cost of construction has gone up on the price for one bathroom for the Schoolhouse

●     The challenges the unique zoning laws for tiny homes brings to the table

●     Why the loft floorplan in most tiny home spaces is problematic to the STR bottom line

●     How the mass production in the tiny homes market might cause incompatibility with the Freewyld stay experience

Freewyld Updates: Investigating the Tiny Home Concept for the Freewyld Brand (Ep465)

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