Are you a short-term rental host with stellar reviews? If so, you might be sitting on a goldmine! In this episode, we break down how a perfect 5-star rating can significantly boost your pricing power. Using real data from cities like Palm Springs, Las Vegas, and Paris, we explore how top-rated listings perform and what pricing strategies you can implement to maximize your revenue.

What You’ll Learn:

• How review scores impact your booking rates and pricing potential

• The percentage of listings with perfect reviews in major STR markets

• How to use dynamic pricing tools like PriceLabs for premium pricing

• Why monitoring booking windows is crucial for revenue growth

• The best setting to automate and optimize your STR pricing strategy

Having an exceptional review score isn’t just about bragging rights—it directly affects your revenue! This episode dives deep into how to position your property for premium pricing, boost occupancy, and take advantage of automated pricing strategies. Tune in to discover how you can make the most of your hard-earned 5-star status and increase your short-term rental income.

Resource Links: Check out our videos on YouTube: https://www.youtube.com/@ShortTermRentalRiches Grab your free management eBook: https://strriches.com/#tools-resources Looking to earn more with your property (without the headaches)? Chat with our expert management team: https://strriches.com/management-services/

Pricing your short-term rental is no easy task—but with the right tools, you can maximize revenue and occupancy. In this episode, Tim welcomes Anurag Verma, co-founder of PriceLabs, to discuss how dynamic pricing has evolved, why data-driven decisions matter, and how hosts can optimize their strategies in an increasingly competitive market.

In This Episode, You’ll Learn:

• How PriceLabs grew from a beta tool to managing 450,000 properties worldwide

• Why pricing flexibility leads to higher earnings

• The most underutilized feature in PriceLabs that hosts should be using

• How AI and automation are shaping the future of dynamic pricing

• Actionable tips for setting the perfect base price and fine-tuning your strategy

Why Listen? Whether you’re a new host or an experienced property manager, this episode is packed with insights to help you optimize pricing, increase bookings, and stay ahead of market trends.

Resource Links:

Check out our videos on YouTube: https://www.youtube.com/@ShortTermRentalRiches

Grab your free management eBook: https://strriches.com/#tools-resources

Looking to earn more with your property (without the headaches)? Chat with our expert management team: https://strriches.com/management-services/

Relevant Tags: #DynamicPricing #PriceLabs #AirbnbOptimization #ShortTermRentals #RevenueManagement #VacationRentalSuccess #STRInvesting #HospitalityTech #RealEstateTools

Property management is evolving, and virtual management is leading the way. In this episode, Tim welcomes Justin Winfield, a real estate veteran and co-founder of Corzly Inc, to discuss why the traditional model is broken—and what the future holds for property owners. Justin shares his global real estate journey, from China to Vancouver to Colombia, and why he believes technology-driven management is the key to maximizing revenue while reducing headaches.

In This Episode, You’ll Learn:

• Why traditional property management is outdated and inefficient

• How virtual management increases revenue and improves guest experience

• The key role of AI and technology in optimizing short-term rentals

• Why big property managers struggle with guest satisfaction and reviews

• How Corsley is reshaping the hospitality industry with a tech-first approach

Why Listen? If you’re managing a short-term rental, boutique hotel, or vacation property, you need to hear why virtual management is the future. Tim and Justin break down how you can boost revenue, save time, and deliver top-tier guest experiences—all without the headaches of traditional management.

Resource Links:

Check out our videos on YouTube: https://www.youtube.com/@ShortTermRentalRiches

Grab your free management eBook: https://strriches.com/#tools-resources

Looking to earn more with your property (without the headaches)? Chat with our expert management team: https://strriches.com/management-services/ Check out Justin's Hotel at https://nidoskyhotelmedellin.com/ (p.s.. we created the website for him and do for all of our partners as well)

The short-term rental market is evolving rapidly, and in this episode, we dive deep into the world of vacation rental management with Marcus Rader, CEO of HostAway. With over $365 million in recent funding and a $924 overall valuation, HostAway is leading the charge in property management automation and software integration. Marcus shares his journey in defining what makes a great PMS and how technology is reshaping guest experiences.

• The Evolution of PMS Software – How HostAway became a top vacation rental software.

• The Role of Technology in Rentals – From smart locks to AI-driven guest interactions.

• Why Direct Bookings Matter – The push towards independence from major OTAs.

• Midterm Rentals: The Next Big Thing? – How the market is shifting to accommodate longer stays.

• Scaling a Rental Business Successfully – Key insights for property managers and investors.

Marcus also discusses how the short-term rental market is maturing and why now is an exciting time to get started. With competition growing, it’s crucial to adopt the right tools, optimize guest experiences, and stay ahead of industry trends. Plus, Marcus shares a game-changing tip that could instantly improve your guest reviews.

If you’re looking for a property management solution, want to optimize your rental strategy, or just stay ahead of industry trends, be sure to follow along with Short-Term Rental Riches for more expert insights. Don’t forget to grab our free property management guide at strriches.com to help maximize your rental income!

• Watch our videos on YouTube: https://www.youtube.com/@ShortTermRentalRiches

• Looking to earn more with your property (without the headaches)? Chat with our expert management team: https://strriches.com/management-services/

Housekeeping is one of the biggest contributors to short-term rental success. Yet, large property managers are consistently failing in this area, leading to bad reviews and lost revenue. In this episode, we look at national review averages from over 5,000 vacation rentals in the most popular areas and why they have averages from 4.02 to 4.62! Tim Hubbard discusses why property owners should consider hiring their own housekeepers to maintain higher standards and create better guest experiences.

• Housekeeping & Review Scores – Why cleanliness impacts guest ratings and revenue.

• Large Property Managers’ Shortcomings – How inconsistent housekeeping teams hurt your rental business.

• The Benefits of Hiring Your Own Housekeeper – Improved consistency, attention to detail, and guest experience.

• How to Find Your Own Housekeepers – Tips for recruiting and setting cleaning standards.

• The Financial Impact of Cleanliness – How better reviews lead to higher nightly rates and more bookings.

By the end of this episode, you'll understand why hiring your own housekeeper is one of the best investments you can make for your rental business.

If you’re looking for ways to optimize your rental strategy, be sure to follow Short-Term Rental Riches for more expert insights. Don’t forget to grab our free property management guide at strriches.com to help maximize your rental income! Looking to earn more money with less headaches? Chat with the team that manages Tim's portfolio of 46 properties: https://strriches.com/management-services/

One of the biggest mistakes short-term rental (STR) owners make is assuming their STR manager is handling repairs in the most cost-effective way. The truth? Many property managers either mark up repair costs, delay small fixes until they become major problems, or use their own preferred vendors who charge higher rates. If you’re not reviewing your Airbnb repair expenses, you could be losing thousands of dollars every year without realizing it.

The key to running a profitable short-term rental isn’t just about getting bookings—it’s also about managing expenses. STR maintenance costs can add up quickly, but with the right approach, you can avoid unnecessary fees and keep your property in great shape. In this video, I’ll share the top risks of letting your STR manager handle repairs unchecked and give you practical strategies to protect your rental income while keeping your guests happy. Let’s get into it.

• Overpriced Repairs – Many STR managers mark up maintenance costs or hire expensive contractors instead of getting competitive quotes.

• Unnecessary Fixes – You might be paying for repairs that aren’t urgent or even needed at all. Always ask for before-and-after photos.

• Delayed Maintenance – Small issues, like a leaky faucet, can turn into costly repairs if ignored. Some managers don’t prioritize timely fixes.

• Lack of Transparency – If you’re not reviewing repair invoices, you could be paying hidden fees without realizing it.

• Limited Vendor Options – Many STR property managers use their own preferred vendors who charge higher-than-average rates, cutting into your profits.

Letting your STR manager handle repairs might seem like the easiest option, but it can come at a cost—literally. If you’re not actively monitoring repair expenses, you could be overpaying for Airbnb maintenance without even knowing it. The good news? A little oversight goes a long way. Always ask for itemized repair invoices, get multiple quotes for major fixes, and consider having a backup handyman you trust.

Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help.

Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.

You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

Hosting on Airbnb is an amazing way to make passive income, but it’s not always smooth sailing. Most guests are great, but every now and then, you’ll get a guest who leaves you completely speechless. Airbnb horror stories are rare, but when they happen, they’re unforgettable. Recently, Brian Chesky, the CEO of Airbnb, shared a bizarre guest complaint—someone wanted a refund because a ghost was "harassing them." Funny enough, the Airbnb listing actually mentioned the ghost (his name was Stanley). But as wild as that sounds, I can tell you—we’ve dealt with way crazier things in our short-term rental properties.

In this episode, I’m sharing some of our craziest Airbnb guest stories, from guests checking into the wrong unit to naked people in common areas—and even a dead raccoon hidden in the walls. Whether you’re an Airbnb Superhost or just starting your STR business, these stories will give you a real look at what it’s like behind the scenes. Plus, I’ll share some Airbnb host tips to help you avoid your own guest nightmares. Let’s get into it!

• Airbnb CEO Brian Chesky’s Ghost Story—We Have Our Own! A guest once requested a refund because a ghost was “harassing” them, even though they booked the listing because of the ghost. They left a 3-star review a full year after their stay!

• The Naked Guest & Her Life-Size Unicorn One of our cameras caught a guest standing completely naked at the top of a shared staircase—with a giant unicorn prop next to her. Just another day in Airbnb hosting.

• Wrong Unit Mix-Ups Happen More Than You Think From guests entering occupied units to one guest knocking on every door in a gated community, Airbnb check-in issues are more common than you’d expect.

• The Worst Airbnb Smell Ever—A Dead Raccoon in the Walls Guests complained about a horrible smell in one of our vacation rentals. After weeks of searching, we found a rotting raccoon inside the walls. Definitely one of the worst hosting surprises ever.

• A Guest Walked in on a Couple in Their Own Bed A guest returned from making a cocktail on a shared terrace, only to find a couple in their bed… in the middle of the act. Turns out, the other guests had walked into the wrong unit and made themselves at home.

If you’ve been an Airbnb host, you probably have a crazy guest story of your own. And if you’re new to short-term rentals, don’t worry—these Airbnb nightmares are rare, but they do happen. The good news? With the right guest screening and Airbnb hosting strategies, you can avoid bad guests and make your STR business run much more smoothly.

Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help.

Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.

You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

If you’ve ever set a revenue target for your Airbnb, you’re not alone. A lot of short-term rental hosts aim for a specific income—maybe six figures a year or $10K a month. And while setting goals can be motivating, the truth is revenue targets might be costing you money. That’s because your Airbnb revenue isn’t based on what you want to earn—it’s determined by supply and demand. If you’re using last year’s numbers or a random target, you could be underpricing or overpricing your property, leading to lost revenue.

Instead of relying on outdated data, it’s crucial to use a smart Airbnb pricing strategy based on real-time market conditions. In this video, I’ll show you how dynamic pricing for Airbnb works and why tools like PriceLabs, Beyond Pricing, and Wheelhouse are essential for maximizing Airbnb profits. I’ll also explain why you should be tracking RevPAR (revenue per available rental) instead of just focusing on occupancy rates or nightly prices. Whether you’re new to Airbnb hosting or managing multiple properties, these insights will help you increase Airbnb income and stay competitive in your market.

• Revenue targets can limit your Airbnb earnings. Your short-term rental pricing should be based on real-time supply and demand, not a fixed income goal.

• Last year’s data isn’t always reliable. Market conditions change—new properties, regulations, and shifting demand mean you can’t rely solely on past performance.

• Dynamic pricing tools like PriceLabs, Beyond Pricing, and Wheelhouse adjust your Airbnb prices daily based on real market trends.

• Track your performance using RevPAR (Revenue per Available Rental). Focusing only on occupancy or nightly rates can be misleading—RevPAR gives a more accurate picture of profitability.

• Fine-tune your pricing strategy regularly. Even with the best pricing tools for Airbnb, you still need to monitor booking trends and adjust accordingly for maximum Airbnb profits.

So, if you’ve been setting a revenue target for your short-term rental, it might be time to rethink your approach. Instead of sticking to a fixed number, focus on real-time Airbnb pricing strategies that respond to market trends. Use dynamic pricing for Airbnb to automatically adjust your rates, track your performance with RevPAR, and stay ahead of the competition by analyzing supply and demand.

Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help.

Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.

You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

Is 2025 the right time to jump into the short-term rental (STR) game? It’s a question I get asked a lot, especially as the STR market continues to evolve. With rising competition, new regulations, and changing guest expectations, it’s natural to wonder if Airbnb is still a good investment. The truth is, while the industry has shifted, the opportunity to create a profitable Airbnb business is very much alive—if you know how to adapt. After nearly a decade in the short-term rental space, I’ve learned that success isn’t just about having a great property—it’s about understanding the trends, navigating challenges, and offering an experience that keeps guests coming back.

Today, I’ll share an honest look at the current state of the Airbnb market in 2025. We’ll talk about key factors like market saturation, guest preferences, and the impact of new tools and technology. Whether you’re considering starting your first Airbnb or scaling an existing short-term rental business, I’ll help you decide if 2025 is still the right time to jump in—and how to do it profitably. Let’s get started!

In this episode, you’ll learn:

• Competition Is Rising: With more people entering the STR space, market saturation is a real challenge in some areas. That’s why finding a unique selling point (like a killer design or standout amenities) is more important than ever.

• Guest Expectations Are Changing: Today’s travelers are looking for more than just a place to sleep—they want unique, Instagram-worthy stays with all the comforts of home. Use tools like my Recommended Resources to help you stand out.

• New Regulations in Some Markets: From city-specific rules to stricter licensing, it’s important to research regulations in your target market before you invest. These rules can impact profitability, so do your homework.

• Technology Can Be a Game-Changer: From dynamic pricing tools like PriceLabs to automated guest communication, leveraging the right tools will save you time and help maximize profits.

• Opportunities Are Still Out There: Even with challenges like competition and regulations, demand for short-term rentals remains strong in the right markets. Focus on high-demand locations and offer something guests can’t find elsewhere.

So, is starting an Airbnb in 2025 still worth it? The answer really depends on your strategy, market, and willingness to adapt to changes. Short-term rentals are still a great way to generate income, but success comes down to planning and execution.

Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help.

Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.

You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

If you’ve ever wondered how to scale your short-term rental business or pivot into a new real estate niche, boutique hotels might be the perfect opportunity for you. Boutique hotel investing combines the fundamentals of STRs—guest experience, revenue management, and location—but on a much larger scale. And the best part? Unlike single-family STRs, boutique hotels are valued based on income, not comps, giving you more control over asset appreciation.

In this episode of Short Term Rental Riches, Tim interviews Rich Somers, a seasoned real estate investor with an $80M portfolio of boutique hotels. Rich shares his journey from managing Airbnbs to acquiring and renovating underperforming boutique hotels in some of the most competitive markets. Along the way, he highlights essential strategies, like leveraging seller financing, navigating Airbnb regulations, and mastering SEO and direct bookings. Whether you’re just starting in real estate investing or are a seasoned STR operator, this episode is packed with actionable insights to help you grow your portfolio while maximizing guest experience and revenue.

• STRs vs. Boutique Hotels: Boutique hotels offer scale and operational control, and their valuation is based on income instead of comparable properties. This allows investors to force appreciation by increasing revenue.

• Creative Financing Strategies: Many boutique hotels are owned outright by baby boomers, creating unique opportunities for seller financing. Offering flexible terms can help you close deals faster.

• Airbnb Regulations Are an Advantage: Tight short-term rental regulations in many cities are driving demand back to boutique hotels. Choosing markets with strict Airbnb rules can create high occupancy and premium rates.

• Direct Bookings & SEO: Focusing on direct bookings through SEO and social media marketing can reduce reliance on OTAs (Airbnb, Vrbo) and significantly boost your bottom line.

• Overcoming Challenges: From high-interest bridge loans to unexpected renovations, boutique hotels require proper contingency planning and operational excellence to mitigate risks.

The boutique hotel space is rapidly growing, and as Rich Somers explained, it’s one of the best ways to scale your portfolio while navigating strict Airbnb regulations and a high-interest rate environment. Whether you’re leveraging seller financing, using bridge loans, or refining your guest experience strategy, the potential for forced appreciation and profitability is massive in boutique hotels.

Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help.

Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.

You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!