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

New York is known as the city that never sleeps. But if you are an Airbnb host there, you may be losing sleep over the state’s anti-Airbnb crusade and complicated short-term rental regulations.

Today Jasper is on the line with Brendan MacKenzie, the founder of MetroButler, a short-term management company in New York. His background in law and familiarity with the Airbnb ecosystem make him the perfect candidate to explain what you need to know about the Multiple Dwelling Law and how it affects hosts in the Big Apple.

Beyond clarifying the laws around short-term rentals, Brendan breaks down the pros and cons of the city’s hardline approach as well as the opportunities NYC is missing out on by discounting Airbnb’s benefits. Listen in to understand New York’s housing crisis and how the city might compromise with Airbnb to help – rather than hinder – the housing market!

Topics Covered
New York’s Multiple Dwelling Law
•Applies to Class A buildings
•Restricts from renting for fewer than 30 days if host isn’t present
•Designed to discourage commercial operators
•Amended in recent months to prohibit advertising (w/ fines of up to $7500 per infraction)
Negative aspects of the Multiple Dwelling Law
•Though the intention is to go after bad actors, it applies to a large number of hosts who are not commercial operators
•Without an education campaign, many are unfamiliar with the Class A distinction
•Might end up driving people out of their homes without Airbnb to help make ends meet
Why New York is taking such a hardline approach
•Commercial operators take properties off the market
•Pressure from the hotel lobby
Common sense compromises that would benefit the city
•Applying a nominal tax would generate revenue to build affordable housing
•Working with Airbnb to enforce the One Host, One Home policy
The benefits of embracing Airbnb in New York City
•Brings travelers who would not be able to afford a hotel
•Allows for a more efficient use of resources
•Provides a source of additional income for struggling artists, freelancers, etc.
•Creates jobs in the Airbnb ecosystem (cleaning services, contractors, etc.)
The MetroButler service
•Serves the New York metro area
•Provides “boots on the ground” for hosts while they travel
•Full Service option for a 25% commission
•Lite Service a-la-carte offerings (key exchanges, sheet rentals, etc.)

Connect with Brendan
MetroButler Website

Connect with Jasper
Email: [email protected]
Twitter: @GetPaidForUrPad
Instagram: @GetPaidForYourPad
Facebook: www.facebook.com/getpaidforyourpad

This episode is sponsored by Hostfully.com where you can create a custom digital guidebook for your guests!

Hosted on Acast. See acast.com/privacy for more information.

SW2 + WC = MO.

Don’t worry: This isn’t an algebra lesson. The formula above is actually some inspiring advice Airbnb co-founder Joe Gebbia learned from an RISD professor about how to deal with rejection. In a recent interview with Signapore’s Strait Times, Gebbia shared his journey from selling Teenage Mutant Ninja Turtles drawings to his elementary classmates for $2 to co-founding global powerhouse Airbnb.

Today Jasper chats with Hostfully’s Vice President of Strategic Partnerships, Nicole Prentice Williams, about the Gebbia interview and other current Airbnb news items. They cover the IPO timeline, potential disruption in the air travel industry and enforcement of the “One Host, One Home” policy in San Francisco. Listen in to see what’s going on in the world of Airbnb!

Topics Covered
Article #1: Airbnb CEO Brian Chesky: Going Public is a ‘Two-Year Project’
•Implied IPO in 2018
•Investors have been patient
•Legal uncertainty would affect stock market
•Positioning through diversification of services

Article #2: The Co-founder of $31 Billion Airbnb Expects a ‘Revolution’ in Air Travel Next
•Little change in decades
•Ripe for disruption
•Services like JetSuite and JetSmarter already cropping up

Article #3: Airbnb Yanks 923 Listings in San Francisco
•Violations of “One Host, One Home” policy
•Attempt to smooth relationship with city regulators
•Pulled listings included 317 entire homes, 26 private rooms and 580 shared rooms
•Of the 10,200 listings in San Francisco, only 1,877 are registered per city requirement

Article #4: It Changed My Life: Airbnb – an Adventure That Begins at Home
•Joe Gebbia interview at launch of Airbnb Trips in Singapore
•In 3rd grade, sold Teenage Mutant Ninja Turtles drawing to classmates for $2
•Met Chesky at Rhode Island School of Design
•Learned formula to deal with rejection
•Launched startups Critbuns and Ecolect to mild success
•Got the idea for Airbnb while struggling to make rent in San Francisco
•Business has grown from 500,000 users in 2012 to 3 million today

Resources Mentioned
Article #1: fortune.com/2017/03/13/airbnb-brian-chesky-ipo-2018/
Article #2: cnbc.com/2017/03/17/airbnb-ceo-brian-chesky-air-travel-revolution-coming.html
Article #3: hcnet.com/news/airbnb-yanks-923-listings-in-san-francisco-one-host-one-home
Article #4: straitstimes.com/world/it-changed-my-life-airbnb-an-adventure-that-begins-at-home
Airbnb Academy Facebook Group

Connect with Jasper
Email: [email protected]
Twitter: @GetPaidForUrPad
Instagram: @GetPaidForYourPad
Facebook: www.facebook.com/getpaidforyourpad

This episode is sponsored by Aviva IQ. Aviva IQ automates messages to your Airbnb guests. It's also free!

Hosted on Acast. See acast.com/privacy for more information.

There is no doubt that the short-term rental market is here to stay. Airbnb has experienced a wildfire expansion in the last ten years, and it only continues to grow.

Listen in to learn about a new book that looks at the development of the industry through a series of interviews with eight players, both large and small, exploring the details of its expansion and predicting its future direction.

Today Jasper speaks with Tristan Rutherford, travel reporter for The Times, the Guardian, and the Daily Telegraph as well as co-author of Room for Profit: Make Airbnb and the Short Rent Revolution Work for You. They cover the rise of the short-term rental market and its ecosystem, the regulation of the industry, and how to use negative reviews to your advantage.

Topics Covered
How Tristan and his co-author got the idea for Room for Profit
•Interview with neighbor struggling to make ends meet
•Tristan has been a host himself since 2004
•Market has been life-changing for many individuals
The rise of the short-term rental industry
•Consolidation on mega-sites like Tripping.com mirror the automobile industry
•TripAdvisor survey indicates enormous growth in users interested in booking short-term vacation rentals
•52% in 2014
•70% in 2016
•Beyond Pricing CEO Ian McHenry predicts that Airbnb-style vacation rentals will account for 20% of bookings worldwide by 2018
Pros and cons of the short-term rental industry
•Potential negative effect on local housing markets
•Helps the ‘little guy’
•Half of the hosts in Berlin make less than the median household wage
•Provides a place to stay in locations where hotels aren’t available
The regulation of the short-term rental industry and Travis’ Law
•Theory introduced by Brad Stone in The Upstarts
•Politicians forced to accept new services (i.e.: Uber, Airbnb) via peer pressure
•Popularity the result of benefits for consumers and profits for users
The importance of reviews
•TripAdvisor survey indicates that 72% will not consider booking a listing without a review
•One or two five-star reviews is a game changer
How to respond to negative reviews
•Be polite
•Thank the guest for their feedback
•Explain the improvements you have made
The exponential growth of the Airbnb ecosystem
•Startups designed to complement Airbnb have become their own industry
•Beyond Pricing CEO Ian McHenry predicts that 50% of hosts will be using a third-party tool by 2018

Connect with Tristan
www.rutherfordtomasetti.com

Resources Mentioned
Room for Profit: Make Airbnb and the Short Rent Revolution Work for You by Tristan Rutherford and Gayle Roberts
The Upstarts: How Uber, Airbnb, and the Killer Companies of the New Silicon Valley are Changing the World by Brad Stone

Connect with Jasper
Email: [email protected]
Twitter: @GetPaidForUrPad
Instagram: @GetPaidForYourPad
Facebook: www.facebook.com/getpaidforyourpad

This episode is sponsored by Hostfully.com where you can create a custom digital guidebook for your guests!

Hosted on Acast. See acast.com/privacy for more information.

Has the student become the teacher?

One of the headlines in Airbnb news this week comes from the South China Morning Post, its author arguing that Chinese copycat home-sharing sites have begun to surpass Airbnb when it comes to innovation.

Silvia Li Pham of Hostfully is back to chat with Jasper about this and other news stories, including the additional capital Airbnb has raised, the company’s intention to expand corporate business travel, and the reason behind Brian Chesky’s new title as CEO and head of community. Jasper and Silvia have fun unpacking this information – though maybe not as much fun as the guests at an Airbnb flat in Islington last week!

Topics Covered
Article #1: Airbnb Raises $1 Billion More in a Funding Round
•Extends private face, postpones IPO
•Facilitates additional acquisitions in the travel space
Article #2: Airbnb Explores Expansion in Long-Term Home Rentals
•Cater to business travelers
•Stays up to six months
•Craigslist currently dominates
Article #3: How China’s Airbnb Copycats Beat the Silicon Valley Titan at its Own Game
•Chinese companies borrowed Airbnb template
•Several of their innovations have been emulated by Airbnb (i.e.: Airbnb Trips, cleaning services)
•Chinese managers visit hosts to consult
•Seamless integration with apps like WeChat
Article #4: Airbnb Offers Hosts Greater Role in Company
•Airbnb announces intention to give hosts a voice
•Chesky will host quarterly Facebook Live event
•Goal to increase host clubs from 114 to 1,000 by the end of 2018
Article #5: Airbnb Renters Turned a Flat into a Nightclub with Tickets and a Bouncer
•Islington, near London
•Host on holiday
•200+ people
•Police arrived, called for backup
•Guest banned from Airbnb

Resources Mentioned
Article #1: www.nytimes.com/2017/03/09/technology/airbnb-1-billion-funding.html
Article #2: www.bloomberg.com/news/articles/2017-03-08/airbnb-explores-expansion-in-long-term-home-rentals
Airbnb Sublets
Article #3: www.scmp.com/week-asia/business/article/2074802/how-chinas-airbnb-copycats-beat-silicon-valley-titan-its-own-game
Article #4: www.sfchronicle.com/business/article/Airbnb-offers-hosts-greater-role-in-company-10984131.php
Article #5: www.factmag.com/2017/03/09/airbnb-renters-turned-flat-nightclub-tickets-bouncer/

Connect with Jasper
Email: [email protected]
Twitter: @GetPaidForUrPad
Instagram: @GetPaidForYourPad
Facebook: www.facebook.com/getpaidforyourpad

This episode is sponsored by Aviva IQ. Aviva IQ automates messages to your Airbnb guests. It's also free!

Hosted on Acast. See acast.com/privacy for more information.

Airbnb owes much of its success to the visual appeal of the site, which has been referred to as “Pinterest meets real estate porn.” But did you know that in Airbnb’s early days, Brian and Joe spent time with hosts in New York and took the pictures themselves to help upgrade the listings?

The Airbnb story is a compelling one, and you might be surprised by many moments in Airbnb history that made a significant impact.

Today Jasper chats with Leigh Gallagher, Fortune editor and author of The Airbnb Story: How Three Ordinary Guys Disrupted an Industry, Made Billions … and Created Plenty of Controversy. They discuss the company’s early struggles, pivotal moments in their growth and development as well as the ongoing controversies that plague Airbnb.

Topics Covered
The inception of Airbnb and its early struggles
•Joe and Brian met at RISD
•Rented out their apartment in San Francisco to pay rent
•Each racked up $20,000 in credit card debt during development
•Launched at SXSW but gained little traction in first year
•Investors skeptical due to issues around safety
When Airbnb finally began to turn things around
•Pushed to apply for Y Combinator in 2009
•Received critical advice from Paul Graham
•Go to your users
•Do things that don’t scale
•Obtained investment from VC Greg McAdoo
The major challenges of creating a company around the Airbnb product
•German competitor Wimdu
•Ransacking incident in June 2011
•Building a culture
•Hiring seasoned executives, i.e.: Chip Conley
How Airbnb shifted from technology to hospitality
•Began as a platform with software as product
•Realized hosts were product
•Sought to formalize standards and teach hospitality at scale
Airbnb’s grand ambitions to expand to products outside homes
•Experiences
•Restaurant reservations
•Event booking
•Flights
•Other services
The controversial aspects of Airbnb
•Legal challenges
•Neighbor issues
•Safety incidents
•Discrimination

Connect with Leigh
leighgallagher.com

Resources Mentioned
The Airbnb Story on Amazon
The Airbnb Story at Barnes & Noble

Connect with Jasper
Email: [email protected]
Twitter: @GetPaidForUrPad
Instagram: @GetPaidForYourPad
Facebook: www.facebook.com/getpaidforyourpad

This episode is sponsored by Hostfully.com where you can create a custom digital guidebook for your guests!

Hosted on Acast. See acast.com/privacy for more information.

As Airbnb continues to grow and pursue its ambition of becoming the Superbrand of Travel, changes in the company’s model are sure to follow. On some fronts, Airbnb seems committed to maintaining the hands-off, platform-only approach to business in the sharing economy. Yet in other areas, they are taking a more proactive approach that allows the company more control over the guest experience.

Jasper is joined by Deanna Ting, Hospitality Editor for Skift, and David Jacoby, CEO and Co-founder of Hostfully, to discuss Airbnb’s pursuit of world domination in the travel space. Their round-table discussion delves into the company’s ongoing legal issues and how recent acquisitions point to a shift in the company’s tactics.

Listen in to learn how you can stay on top of what’s happening in the travel industry as well as the specifics of Airbnb’s evolving approach to business.

Topics Covered
Airbnb’s Legal Issues
•Cities more cognizant of complications that can arise with Airbnb
•Company seems to have different response in Europe vs. US
•Airbnb assisting with enforcement of regulations in London and Amsterdam
•Partnership with Chicago shares host info with city, but raises privacy concerns
Airbnb Experiences
•On brand
•Unlikely to match success of home product
•Anyone can apply, but tour guides hand-selected by Airbnb
•Airbnb involved in building itinerary
Airbnb Acquisitions
•Luxury Retreats indicates an intention to gain more control of guest experience
•Tilt technology is a good fit to allow for ease of payment for groups
The future of Airbnb
•Continued pursuit of Travel Superbrand status
•Addition of flights, complementary services
•Persistent regulatory issues
•IPO in 2018 or later

Resources Mentioned
skift.com
Airbnb Experiences
Co-Working Space Article

Connect with Jasper
Email: [email protected]
Twitter: @GetPaidForUrPad
Instagram: @GetPaidForYourPad
Facebook: www.facebook.com/getpaidforyourpad

This episode is sponsored by Aviva IQ. Aviva IQ automates messages to your Airbnb guests. It's also free!

Hosted on Acast. See acast.com/privacy for more information.

This week on the podcast, Jasper has a conversation with Brian Chen, lead consumer technology writer for the New York Times and Airbnb Superhost. Brian’s cabin in northern California has been a lucrative business investment, though he has had some surprising experiences with Airbnb guests – and not in a good way.

Brian shares a few horror stories about guests who engaged in illegal activity and how Airbnb responded through the dispute resolution process. Listen to find out what lessons Brian has learned from his negative hosting experiences!

Topics Covered
Brian’s Wedding Guests
•Guest with no reviews booked for a group of 8
•Neighbors informed Brian of 50 wedding guests and caterers entering his home
•Airbnb assisted in canceling the reservation after guest denied breaking house rules (despite photographic evidence)
•Airbnb’s dispute resolution center helped Brian get a portion of the $100/person penalty built into his house rules for exceeding 8 people
•Airbnb’s ruling disproportionately favored the guest
The lessons Brian learned from hosting ‘bad eggs’
•Protect yourself by establishing strict house rules
•Be diligent in screening potential guests
•Document as much as possible
•Consider taking ‘before’ photos of expensive items
The Cocaine Story
•Brian booked seemingly trustworthy guest with good reviews
•Group broke the dishwasher and left trash, including evidence of illegal drug use
•Due to thorough documentation, Brian was able to collect for all damages
The shortcomings of the Airbnb dispute resolution process
•Little recourse for illegal activity
•Lack of urgency in addressing disputes
•Seem to be proactive only when media gets involved in a conflict

Connect with Brian
New York Times Webpage

Resources Mentioned
Brian’s NYT Superhost Article

Connect with Jasper
Email: [email protected]
Twitter: @GetPaidForUrPad
Instagram: @GetPaidForYourPad
Facebook: www.facebook.com/getpaidforyourpad

This episode is sponsored by Hostfully.com where you can create a custom digital guidebook for your guests!

Hosted on Acast. See acast.com/privacy for more information.

It was a quiet news week for Airbnb, though the themes of acquisitions, group travel and regulations remain top of mind.

This week, Jasper chats with Margot Schmorak, CEO and Co-Founder of Hostfully. They deliberate Airbnb’s recent acquisition of micropayments platform Tilt as well as an interesting perspective on regulations that appeared on BaconsRebellion.com this week.

Margot also covers her recent Airbnb experiences in Hawaii, offering feedback to hosts regarding consistency and responsiveness, and Jasper shares a recent investment that will make his international travels easier – and more exclusive!

Topics Covered
Article #1: Airbnb Buys Tilt, Signaling Its Growing Interest in Group Travel
•Micropayment platform that had early success on college campuses
•Tilt talent now part of Airbnb
•Indicates a plan to enter the group travel space
Article #2: Just a Thought: Instead of Extending Regs to Airbnb Rentals, Let’s Roll Back Regs on Hotels
•The hotel lobby argues that Airbnb should be subject to the same regulations
•Due to sites like Yelp, some of these consumer protections may be obsolete
•Author suggests a review and reduction of the current regulations
Margot’s Feedback for Airbnb Hosts
•Consider interviewing your guests to find out what stood out
•Highlight what differentiates you in the listing title
•Be sure the information you provide guests is accurate
•It is better to under-promise and overdeliver than to create unrealistic expectations
Jasper’s New Membership in JetSmarter
•Airbnb for private jets
•Unlimited flights for $15,000 annual membership
•Less hassle at the airport
•Worthwhile for travelers who take several international flights per year

Resources Mentioned
Article #1: fastcompany.com/3068446/new-money/airbnb-buys-tilt-signaling-its-growing-interest-in-group-travel
Article #2: baconsrebellion.com/heres-an-idea-instead-of-extending-regs-to-airbnb-rentals-lets-roll-back-regs-on-hotels-and-bbs/
jetsmarter.com

Connect with Jasper
Email: [email protected]
Twitter: @GetPaidForUrPad
Instagram: @GetPaidForYourPad
Facebook: www.facebook.com/getpaidforyourpad

This episode is sponsored by Aviva IQ. Aviva IQ automates messages to your Airbnb guests. It's also free!

Hosted on Acast. See acast.com/privacy for more information.

This week, Jasper is chatting with Marc Figueras, the CEO and Co-founder of KeyNest, a smart key exchange service with a network of locations across London where Airbnb hosts and property managers can securely store their keys.

Marc explains the specifics of the regulations particular to London as well as the options available to Airbnb hosts in the face of these newly enforced restrictions. Find out more about how Airbnb’s image has affected the rules and what you can do to stay on the right side of the law!

Topics Covered
How Parliament changed the rules in January 2015
•Allowed for short-term lets without planning permission
•Limited to 90 nights per calendar year
Airbnb’s self-enforcement
•The rules haven’t been enforced because it was up to local councils
•Hotel lobbies have pressed the new mayor
•Airbnb agreed to self-enforce, but only for those hosts who are renting out an entire home
•When the restrictions go live this spring, the Airbnb site will no longer allow bookings after the counter on a listing hits the 90-day limit
The legal options for Airbnb hosts
•Sell and move to a different market
•Initiate the long and costly process of changing your permission from residential to commercial
•Host for fewer than 90 days
•Pursue long-term lets of 91-plus days
The danger of circumventing the rules
•Though listing on different platforms is an option, it is still illegal
•Listing an entire house as a private room or creating new Airbnb accounts may result in having your account banned
•Hosts are dependent on the platform for customers, so damaging that relationship is unwise
How Airbnb’s image can be restored
•Return to the original model of private residents using the platform to make extra income and meet new people
•The community itself must be vocal about the positive aspects of the service
The KeyNest service
•Network of cafes and convenience stores for secure key drop-off
•35 London locations
•£5.95/key collection or £14.95/month

Connect with Marc
keynest.co.uk

Connect with Jasper
Email: [email protected]
Twitter: @GetPaidForUrPad
Instagram: @GetPaidForYourPad
Facebook: www.facebook.com/getpaidforyourpad

This episode is sponsored by Hostfully.com where you can create a custom digital guidebook for your guests!

Hosted on Acast. See acast.com/privacy for more information.

Airbnb’s growth is in the news this week, and acquisitions are in the air. Having only spent $300 million of the $3 billion raised, Airbnb has capital available. And they will have to invest in order to facilitate the growth necessary to reach the publicized goal of $3 billion in profit by 2020.

Jasper is joined by Hostfully Growth Guru, Silvia Li Sam, to discuss acquisitions that are already being negotiated as well as their suggestions for possible purchases.

Jasper and Silvia cover the latest lawsuit against Airbnb as well, filed by apartment management company Aimco.

Topics Covered
Article #1: Airbnb’s Profits to Top $3 Billion by 2020
•Ambitious but possible
•Vertical acquisitions may facilitate growth
Article #2: Airbnb is Buying Luxury Retreats for Around $200M
•Focus on high-end homes
•$1,000/night or more
•Airbnb will attain team and technology
•Likely to occupy a separate section of the Airbnb site
Article #3: Airbnb is in Talks to Acquire Social Payments Startup Tilt
•Technology for group purchases is a good fit
•Paying significantly less than last valuation of $400M
Jasper and Silvia’s Suggestions for Potential Airbnb Investments
•Expand further into the travel space with airline aggregator
•Airbnb’s quality user experience could compete with sites like Expedia and Kayak
•Flightfox and Airwander assist in booking multi-city trips
•Eventually, Airbnb could recommend flights, accommodations and experiences
Article #4: A Big Apartment Management Company is Suing Airbnb
•Suit accuses Airbnb of deliberately incentivizing people to breach their leases
•Aimco will have to prove monetary loss
•In similar past lawsuits, platforms were not held responsible for user behavior

Resources Mentioned
Article #1: http://fortune.com/2017/02/15/airbnb-profits/
Article #2: https://techcrunch.com/2017/02/09/airbnb-is-buying-luxury-retreats-for-around-200m/
Article #3: https://techcrunch.com/2017/01/24/airbnb-is-in-talks-to-acquire-social-payments-startup-tilt/
Article #4: https://techcrunch.com/2017/02/18/a-big-apartment-management-company-is-suing-airbnb/
flightfox.com
airwander.com

Connect with Jasper
Email: [email protected]
Twitter: @GetPaidForUrPad
Instagram: @GetPaidForYourPad
Facebook: www.facebook.com/getpaidforyourpad

This episode is sponsored by Aviva IQ. Aviva IQ automates messages to your Airbnb guests. It's also free!

Hosted on Acast. See acast.com/privacy for more information.