Short Term Rental Riches

Tim Hubbard, successful investor and CEO of a seven-figure short term rental management company shares it all. The insider tips you need to know to acquiring, operating and scaling a successful short term rental business.

294. Growth Blueprint: 13 Strategies to Scale Your STR Management Business 07/01/2025

293. Where to Invest, What to Charge: STR Strategy from AirDNA 06/25/2025

292. NEW Compliance and Regulations for STR Hosts 06/17/2025

291. Accepting First-Time Airbnb Guests? Here’s What Hosts Need to Know 06/10/2025

290. Tariffs & Airbnb: Hidden Costs That Shrink Profits 06/03/2025

289. Lydia Patel’s Playbook for Smarter STR Systems 05/23/2025

288. Rental Maintenance Costs: Short-term vs. Long-term 05/20/2025

287. Booking.com’s NEW Damage Program: What Hosts Need to Know 05/13/2025

286. Exposed: What Your Review History Is Telling Future Guests 05/06/2025

285. How Stacking Small Wins Can Boost Your STR Revenue by 30% or More 04/29/2025

284. How to List Your Property on Booking.com in 2025 & Hacks You Should Know 04/22/2025

283. 5 Reasons Your Automated Pricing Tool is Failing 04/15/2025

282. Summer 2025 Airbnb Prep: 7 Ways to Make Your Listing Unstoppable 04/08/2025

281. The Secret to High-Yield Vacation Rentals? Think Small, Earn Big! 04/03/2025

280. The 5-Star Pricing Strategy: How to Charge More as an Exceptional Host 03/25/2025

279. MEET the Founder of the Industry's Most Powerful Dynamic Pricing Tool! 03/18/2025

278. Virtual Management Evolution: Meet Tim's Partner and Find Out What's Next! 03/11/2025

277. Hostaway's CEO Explains $924 Million Valuation & STR Industry Future 03/04/2025

276. Fixing Failing Housekeeping Strategies for 5-Star Airbnb Reviews 02/25/2025

275. The Hidden Risks of Letting Your STR Manager Handle Repairs (Costly Mistake!) 02/18/2025

275. The Hidden Risks of Letting Your STR Manager Handle Repairs (Costly Mistake!) 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. In this episode, you’ll learn: 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? 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. including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more! /episode/index/show/strriches/id/35322330

274. STR Nightmares: Craziest Airbnb Guest Stories 02/11/2025

274. STR Nightmares: Craziest Airbnb Guest Stories 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! In this episode, you'll learn: 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? 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. including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more! /episode/index/show/strriches/id/35233380

273. Why Having a Revenue Goal Is Costing You Profits 02/04/2025

273. Why Having a Revenue Goal Is Costing You Profits 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. Key Takeaways 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? 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. including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more! /episode/index/show/strriches/id/35060095

272. Is Starting an Airbnb in 2025 Still Worth It? Here’s the Truth 01/28/2025

272. Is Starting an Airbnb in 2025 Still Worth It? Here’s the Truth 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? 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. including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more! /episode/index/show/strriches/id/34988665

271. Boutique Hotels vs STRs: Rich Somers Explains Why They're the Future of Real Estate in 2025 01/21/2025

271. Boutique Hotels vs STRs: Rich Somers Explains Why They're the Future of Real Estate in 2025 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. In this episode, you'll learn: 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? 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. including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more! /episode/index/show/strriches/id/34915335

270. 12 STR Hacks to Maximize Revenue & Enhance Guest Experience 01/14/2025

270. 12 STR Hacks to Maximize Revenue & Enhance Guest Experience I’m excited to have you here because today’s episode is all about improving your short-term rental game with practical, actionable tips. I’ve been in this business for years, and if there’s one habit that’s made a huge difference, it’s taking notes on everything—whether I’m listening to a podcast, attending an event, or watching STR success stories on YouTube. I recently went through my inbox, where I save all my ideas, and pulled out 12 incredible tips to help you boost Airbnb visibility, improve your listing, and enhance your guest experience. In today’s fast-paced STR market, standing out is key, and small changes can make a massive impact. From ensuring your property is categorized correctly on Airbnb (yes, you can request a category change!) to investing in high-quality photos with drone shots and twilight lighting—this episode covers it all. I’m also diving into smart tech upgrades like wireless chargers and pet-friendly touches that guests love. And if you’re scaling your business or managing properties remotely, stay tuned for operational tricks, including how to leverage same-day deliveries for emergencies. Let’s dive in! Key Takeaways: Optimize Airbnb Categories: Request up to 5 new categories for your listing to improve visibility using the Airbnb category request page (visit elevate.translated.com/categories). Professional Photos Matter: Invest in drone photos, twilight shots, and highlight parking or nearby attractions to attract more guests. Add Convenience with Tech: Install wireless chargers by bedsides and in common areas—guests love having quick access to charging. First Impressions Count: Check your doormat! Ensure it’s clean and welcoming. Bonus points for adding a fun message that makes guests smile. Consistent Lighting: Make sure your lightbulbs match in color temperature (stick with warm 3000K for a cozy feel)—no "hospital lights"! Thanks for tuning in! Whether you’re updating your photos, adding smart tech upgrades, or fine-tuning your pricing strategy, remember that every step brings you closer to running a standout short-term rental. These small but impactful changes can lead to higher bookings, glowing reviews, and a smoother operation overall. Need help managing your short-term rental and you don’t want to go it alone? 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. including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more! /episode/index/show/strriches/id/34834350

269. Short-Term Rental Trends 2025: Boost Your Airbnb Bookings with AI, Google, and Pricing Tips 01/07/2025

269. Short-Term Rental Trends 2025: Boost Your Airbnb Bookings with AI, Google, and Pricing Tips Welcome back to Short-Term Rental Riches! I’m excited to be home in Medellin after visiting California, where I got to check in on my first short-term rental properties from 2015. This episode is all about the big takeaways from 2024 and what to expect in 2025. If you’ve been hosting Airbnb guests or managing short-term rentals, you know that market trends change fast—and understanding STR market trends for 2025 can be your key to maintaining high occupancy and revenue. This year, I’ve seen a significant drop in new STR supply, but demand has remained strong, creating a huge opportunity for hosts who are leveraging the right strategies. I’ll cover the most important trends, including how AI is reshaping how guests search for properties and why Google Vacation Rentals could be a game-changer for direct bookings. If you’re using tools like Price Labs or considering listing on Google to avoid commission fees, this is your guide to staying competitive. Whether you're focused on increasing your Airbnb revenue or refining your guest experience to earn more five-star reviews, this episode is packed with practical advice. Let’s dive in and set you up for success in 2025! If you're looking to increase your Airbnb revenue and optimize your STR listings, this episode is packed with actionable tips! In this episode, you’ll learn: Occupancy Trends & Supply Slowdown: STR supply is stabilizing or decreasing in some markets, giving established listings an edge to increase bookings. Average Daily Rate (ADR) Adjustments: Nationwide, ADRs have dipped slightly, making dynamic pricing tools like Price Labs essential for maximizing your revenue. AI’s Impact on Search: Guests are using AI-based searches to find highly specific STRs. Properties that align with personalized searches will see increased visibility. Google Vacation Rentals: Google’s no-commission listing option is a game-changer for direct bookings. Partnering with platforms like Hostaway makes integration seamless. Long-Term Strategy with Direct Bookings: A direct booking website can reduce your reliance on platforms like Airbnb and VRBO, especially as competition grows. Thanks for tuning into Short-Term Rental Riches! With the 2025 market shaping up, staying informed and proactive can help you outpace the competition. Whether it’s leveraging AI to boost your listing visibility, optimizing your pricing strategy, or listing on Google Vacation Rentals, there’s never been a better time to strengthen your short-term rental business. Need help managing your short-term rental and you don’t want to go it alone? and we’ll see if we can help. Drop your thoughts or questions in the comments and let me know what trends you’re seeing in your market. Don’t forget to like, and subscribe for updates. Here’s to crushing your 2025 STR goals—see you in the next episode! including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more! /episode/index/show/strriches/id/34747380

268. How to Find Profitable Airbnb Properties in 2025 | STR Investing with John Bianchi (Part 2) 12/31/2024

268. How to Find Profitable Airbnb Properties in 2025 | STR Investing with John Bianchi (Part 2) Today, we’re unpacking all things short-term rental profitability with a special guest, John Bianchi, who’s mastered the art of finding profitable Airbnb markets and avoiding risky investments. Over the years, I've received countless messages asking, “Is this property worth the purchase?” or “Is this STR market too crowded to make money?” While I’d love to dive into everyone’s listings, it’s a time-consuming process that requires detailed research. That’s why experts like John are game-changers—they provide the market analysis and strategies you need to make informed decisions quickly. In this episode, we’ll cover how to navigate saturated Airbnb markets, identify whether there’s still room to profit, and build a data-backed "buy box" so you can spot a winner faster. John also explains why amenities matter and how unique features like game rooms and outdoor spaces can give your listing a competitive edge. Whether you’re worried about how your listing ranks on platforms like Airbnb or struggling to figure out how much to spend on upgrades, this conversation is packed with Airbnb investing tips you won’t want to miss. Let’s dig in and help you level up your Airbnb portfolio in 2025 and beyond! In this episode, you’ll learn: Understanding Market Saturation Just because a market has lots of listings doesn’t mean it’s off-limits. John explains why some Airbnb markets are still worth investing in, even when they seem oversaturated. Luxury Demand vs. Fun-Driven Amenities Instead of only focusing on a high-end look, create listings with experience-focused amenities like game rooms or outdoor entertainment to boost your short-term rental revenue. The Power of Data Tools Not all data is equal! John recommends STR data tools like PriceLabs and AirDNA to track trends and find the right Airbnb pricing strategy for your market. Risky STR Markets to Avoid Some regions that surged during the pandemic—like Blue Ridge—are struggling with low demand despite high home prices. John shares insights on when to walk away from "boomed" areas. Building a Strong “Buy Box” Narrow down your options by creating a list of key features—like the right number of bedrooms and essential amenities. Once you spot an outlier with higher projected revenue, you’ll know you’ve found a winner. Thanks for tuning in to another episode of Short-Term Rental Riches! John gave us a ton of valuable insights into building a profitable Airbnb portfolio and identifying top STR markets. Whether you're planning to buy in 2025 or upgrading an existing listing, remember that using the right tools and strategies can make all the difference. Need help managing your short-term rental and you don’t want to go it alone? 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. including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more! /episode/index/show/strriches/id/34615730

267. How to Find Profitable Airbnb Properties in 2025 | STR Investing with John Bianchi (Part 1) 12/24/2024

267. How to Find Profitable Airbnb Properties in 2025 | STR Investing with John Bianchi (Part 1) Finding profitable Airbnb properties in 2025 might seem like a challenge, but it’s far from impossible with the right tools and strategies. Today, we’re joined by Airbnb investing expert Jon Bianchi, who has helped direct over $90 million in STR investments across 200+ properties. From real estate data analysis to selecting the right markets, Jon has fine-tuned a process to identify cash-flowing STR properties that outperform others. In this episode, we break down Jon’s strategies for using platforms like AirDNA for STR market analysis, optimizing amenities to attract guests, and avoiding risky real estate markets. Whether you’re focused on boosting Airbnb income or expanding your real estate portfolio, this conversation delivers insights for STR success. If you’ve ever wondered how to turn your property into a revenue-generating asset, this episode is a must-listen. In this episode, you’ll learn: Effective STR Market Analysis: Learn how to use AirDNA and other tools to identify profitable short-term rental markets with potential for cash flow. Key Amenities for Success: Discover the must-have amenities that make your property competitive and the nice-to-have features that set you apart. Avoiding Risky Real Estate Investments: Identify oversaturated or underperforming markets to avoid costly investment mistakes. Boosting Airbnb Income: Optimize your STR listings with better management, guest experience, and strategic amenities for maximum revenue. How to Find Cash-Flowing Properties: Understand price-to-rent ratios and the importance of full-time hosting data for STR property selection. Need help managing your short-term rental and you don’t want to go it alone? 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. including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more! /episode/index/show/strriches/id/34615640

266. 4 Risky Markets to Avoid in Short-Term Rental Investing 12/17/2024

266. 4 Risky Markets to Avoid in Short-Term Rental Investing Real estate markets are constantly evolving, and short-term rental investing adds another layer of complexity. As an Airbnb host or STR investor, it’s not just about demographics and trends. You also need to consider unique factors like oversupply in short-term rentals, the potential for unfavorable regulations, and even crime rates in your chosen market. These risks, if overlooked, can undermine the success of your investment. In this video, we’ll unpack four reasons why some markets are just too risky for your next Airbnb or STR property. From volatile real estate speculation risks to markets with increasing short-term rental competition, knowing how to identify red flags can save you from costly mistakes. We’ll also talk about how guest reviews and selecting the right property type can help you stand out in competitive markets. So, whether you’re using tools like AirDNA to assess market trends or navigating landlord laws for STRs, these tips will ensure your next move is a smart one. 5 Key Points: Speculative Markets Are Risky: Investing in areas reliant on unpredictable appreciation is a gamble. Focus on markets with stable growth and strong fundamentals, avoiding those known for real estate speculation risks. Oversupply Can Hurt Profits: Use tools like AirDNA to analyze how new short-term rentals impact average occupancy and daily rates. Markets flooded with STRs often lead to declining revenues. Landlord Laws Matter: Research local landlord laws for STRs to ensure you're compliant. Regulations are constantly changing and can significantly affect your ability to operate. Crime Rates and Reviews: High crime rates can hurt both property value and guest experiences. Negative reviews stemming from unsafe neighborhoods can drive away future bookings. Differentiation is Key: In oversaturated markets, focus on delivering exceptional guest experiences and maintaining strong Airbnb reviews to outperform the competition. Investing in short-term rentals offers fantastic opportunities, but only if you approach it with the right knowledge. Understanding real estate speculation risks, avoiding oversupply, navigating landlord laws for STRs, and prioritizing safe neighborhoods are critical steps toward success. Stay ahead by leveraging tools like AirDNA, focusing on guest reviews, and staying informed about market trends. Need help managing your short-term rental and you don’t want to go it alone? 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. including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more! /episode/index/show/strriches/id/34464415

265. 6 Hidden Costs Your Guests Pay | Airbnb Pricing Insights 12/10/2024

265. 6 Hidden Costs Your Guests Pay | Airbnb Pricing Insights If you're managing short-term rentals, you know how vital dynamic pricing tools are to maximizing your revenue. Platforms like PriceLabs and Wheelhouse integrate seamlessly with Airbnb, VRBO, and Booking.com, making it easier to adjust rates daily. However, what many hosts don’t realize is that the price you see in your tool often doesn’t match the final cost your guests pay. These hidden costs—from platform commissions to payment processing fees—can significantly impact your pricing strategy and overall revenue management. In this episode, I’ll break down 6 hidden factors affecting the prices your guests see. Whether it’s Airbnb commission fees, property management software charges, or local taxes, understanding these details is key to staying competitive. We’ll also discuss how cancellation policies, STR promotions, and discounts influence your listings on platforms like Booking.com and VRBO. By the end, you’ll have actionable insights to fine-tune your short-term rental revenue management strategy for optimal results. Key Points: Channel Commission Fees: Airbnb, VRBO, and Booking.com charge varying fees that directly impact the final price your guests see. Stay informed to stay competitive. Property Management Software Charges: Tools like HostAway and Guesty often add hidden fees, which can inflate the price without your knowledge. Payment Processing Fees: Credit card fees, often around 3%, are passed on to guests or deducted from your revenue, depending on the platform. Cancellation Policies & Rate Plans: Offering flexible or non-refundable booking options can change guest pricing significantly and impact your revenue strategy. Taxes & Local Fees: STR taxes, like transient occupancy fees, can vary widely by location and platform. Make sure your listings on Airbnb, VRBO, and Booking.com are aligned. Pricing isn’t just about setting competitive rates—it’s about understanding the ecosystem of fees and commissions that affect your listings. By diving into these dynamic pricing insights, you’ll be better equipped to maximize your short-term rental revenue and deliver great guest experiences. If you’re looking for help with revenue management or pricing strategies, my team and I are here for you. Need help managing your short-term rental and you don’t want to go it alone? 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. including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more! /episode/index/show/strriches/id/34342800

Short Term Rental Riches

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