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

If you could change anything about Airbnb’s website, what would it be? Hosts had their say in the news this week, with a Forbes article polling […]

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With changes in UK tax policy, smart property investors are shifting to the vacation rental market to avoid the hit of a higher tax bill. The […]

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Melbourne is joining the growing list of cities introducing regulations around short-term rentals, but the municipality is taking a very different approach: Rather than simply limiting […]

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Are you looking for an ideal place to invest in short-term rental property for Airbnb? How about a little spot known as The City of Eternal […]

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If you’ve ever used Smart Pricing, you know that the tool tends toward the lowest prices—favoring guests over hosts in order to increase the number of […]

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While most Airbnb hosts avoid party-going guests like the plague, Airbnb Superhost Walter McCormick welcomes them. In fact, he caters specifically to bachelor and bachelorette parties […]

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If you can’t beat ‘em, join ‘em. As the popularity of short-term rentals grows, more and more landlords are changing their stance on the practice. It […]

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When I record a podcast episode, I often write down some announcements or things I want to talk about outside of the person I’m interviewing. However, […]

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Special events like the Super Bowl present an opportunity for residents of the host city to list on Airbnb and generate extra income, but how do you decide on the right price for your listing? And how do you compete with all the other new hosts who had the same idea?

Margot Lee Schmorak, CEO and Co-Founder of Hostfully, joins Jasper to answer your questions around listing for special events like the Super Bowl. They also cover the recent Airbnb blog and subsequent Forbes article about optimizing search rankings that dispelled several myths regarding what counts when it comes to Airbnb SEO.

Margot and Jasper walk through this week’s Airbnb headlines as well, discussing the Leigh Gallagher interview with Brian Chesky regarding the IPO, the new short-term rental platform called CryptoCribs, and the Asbury Park host who’s challenging new regulations in the city.

Topics Covered

Article #1: Airbnb Finally Opens Up on How to Rise Through Its Search Rankings
•Dispels myths around search rankings
•Superhost status, ‘tweaking’ do not help
•Visits, clicks and level of interest do matter
•Search results highly personalized

Article #2: Asbury Park Homeowner Fights Airbnb Regulations
•City voting to prohibit short-term rentals unless owner present
•Host paying $20K in property taxes, uses Airbnb to defray cost
•Gathered necessary 156 signatures, forcing city council to consider alternative
•If alternative declined, issue goes to voters through referendum

Article #3: Airbnb CEO: ‘We’ll Be Ready’ for IPO
•Declared halfway through two-year project in March 2017
•Will be ready in 2018, but may not go public right away
•Buffet advised Chesky to ‘get rich slow’
•Danger in IPO too early (i.e.: Blue Apron)

Article #4: CryptoCribs: The ‘Airbnb’ for Cryptocurrency Users
•Listing platform, pay with bitcoin or ethereum
•Uses blockchain to store info (public)
•Challenge in attracting supply and demand
•Airbnb on track to make bitcoin a feature as well

Q: I live in Minneapolis, the site of the 2018 Super Bowl, and I would like to list my home on Airbnb for the event. How do I maximize my earning potential?
•Beyond Pricing blog post explains massive increase in supply
•Occupancy went down during Super Bowl in Houston (from 55% to 25-30%)
•Guests expect to pay a lot for lodging (price increases of 50—100%)
•Keep prices high to position as premium listing
•List early to rack up as many reviews as possible
•Consider listing on multiple platforms (including local sites)
•Do your own search as potential guest to see search rankings, competition
•Customize your listing for Super Bowl, brand for teams involved

Resources Mentioned
Article #1: forbes.com/sites/sethporges/2017/10/30/airbnb-finally-opens-up-on-how-to-rise-through-its-search-rankings/#30ba16f31922
Airbnb Blog: Answers to Your Top Search Questions
Article #2: app.com/story/news/local/communitychange/2017/10/30/asbury-park-airbnb-regulations/796091001/
Article #3: fortune.com/2017/10/25/airbnb-ipo-public/
Article #4: btcmanager.com/cryptocribs-airbnb-for-cryptocurrency-users/
ATLANT
CryptoCribs
Líf Tokens
Beyond Pricing Super Bowl Blog
Jasper’s YouTube Channel

Connect with Jasper
Email: [email protected]
Twitter: @GetPaidForUrPad
Instagram: @GetPaidForYourPad
Facebook: www.facebook.com/getpaidforyourpad
Airbnb News Facebook Group
This episode is sponsored by Aviva IQ. Aviva IQ automates messages to your Airbnb guests. It's also free!

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There are a number of different ways to take advantage of the Airbnb platform, from listing a room in your own home to re-leasing a rented apartment. You might choose to co-host with a property owner or rent out your entire home while you are away. Some creative hosts even convert unused spaces, turning a shed in the backyard into a tiny home or transforming an attic into a studio apartment. Toby Doré is doing all of this and more, using every Airbnb model that’s out there to generate income through the platform.

Toby has been hosting on Airbnb in Lafayette, Louisiana, since March of 2013, and he has a whopping 1,776 reviews! Toby is also a full-time university professor in athletic training, sports medicine and sports psychology. He loves to travel, road-tripping across the US and visiting more than 40 countries in Europe, Central America, and South America.

Toby is also a serial Airbnb entrepreneur who utilizes every model: re-leasing, co-hosting and listing his Lafayette home on the platform. He has his own website, Cajun Hostel, as well as a travel blog. Today on the podcast, he shares how an 8-week road trip inspired his Airbnb journey. He offers his take on the pros and cons of each model, explaining which has been the most lucrative and extending his advice around establishing contracts between co-hosts. Listen in and learn how Toby outsources much of his Airbnb business while he works full-time and travels the world!

Topics Covered

What Led Toby to Airbnb
•Read about minimalism in The Joy of Less
•Planned 8-week road trip across US
•Couple met through music promotion suggested Airbnb
•Used platform during trip
•Listed 3-bedroom home while traveling
•Airbnb profits paid for rental car, gas

The pros and cons of renting his own home
•Most profitable of business models
•Income pays mortgage, utilities
•Profits help pay for international travel
•Turned storage shed into tiny house
•Converted attic to private studio
•Always booked, no place for him to stay

The re-leasing model
•Rented affordable, small apartment in downtown Lafayette
•Lists studio on Airbnb four months of year while traveling for work
•Rented four other houses, but gave up as popularity of hosting increased

The co-hosting model
•Neighbor tired of renters ‘messing up house’
•Asked Toby to manage as Airbnb
•Split profit after expenses paid (utilities, internet, amenities)
•Implementing Airbnb co-hosting platform complicated things
•Toby suggests contract defining responsibilities around expenses

Tricks Toby learned from using Airbnb as a guest
•Keycode locks on properties
•Automation (i.e.: code sent upon confirmation of booking)

How Toby outsources much of his Airbnb enterprise
•Bilingual manager handles bookings, reviews
•Sister-in-law helps with cleaning
•Second cleaner with 17 years of experience
•Hires university interns in business, hospitality management
•Worldpackers get dorm room in exchange for social media marketing work

Toby’s Airbnb profits
•Receives flat fee for managing upscale house in New Orleans (about 30% of profits)
•80/20 split with next-door neighbor
•Most rental management companies receive 30-35%
•Income from home he owns pays mortgage, utilities + 20% profit
•Home improvement loans on tiny home, studio paid off in two years

Connect with Toby
Cajun Hostel
Toby’s Airbnb Profile
Toby’s Travel Blog

Resources
The Joy of Less: A Minimalist Guide to Declutter, Organize, and Simplify by Francine Jay
VRBO
FlipKey
Worldpackers

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