EP090: Real Estate Expert Kemi Egan Shares Tips for Airbnb Hosts
Summary
This article is a collection of podcast episode summaries from Get Paid For Your Pad, covering revenue management, CEO focus in STR businesses, comparing hotel and STR revenue management, and overcoming overwhelm. Hosts should review these topics to optimize their operations and profitability.
Key Insights
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness and operational constraints.
- •CEOs waste 30 to 50 percent of their time on low-value activities, which becomes more dangerous as STR businesses grow.
Action Items
- ✓Review your daily and weekly pricing routines to stay ahead of the market.Effort: lowImpact: medium
- ✓Identify your business bottlenecks and focus on high-ROI activities.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
Common Mistakes
- ⚠Most hosts underperform not because they lack tools, but because they don’t know what to look at, when to look at it, or how to interpret booking behavior once it shows up.
- ⚠Solving the wrong problems stalls growth even when demand is strong.
More from Pricing & Profitability
A host reported earning $2,300 monthly on Airbnb with almost constant bookings, only to quit due to difficult guests. This highlights the financial potential of STR hosting but also emphasizes the importance of guest screening and managing guest behavior. Balancing profitability with a positive hosting experience is crucial.
This article discusses Kansas City's high occupancy rates compared to other World Cup host cities, raising questions about the effectiveness of efforts to increase short-term rental availability. It implicitly touches on market trends and the impact of major events on the STR market. The article likely explores whether increased rental supply can meet demand while analyzing the city's approach to STRs.
Realtor.com's report on best mountain towns for Airbnb returns reveals key locations for STR investment. The analysis likely includes data on occupancy rates, ADR, and RevPAR to identify profitable markets. Understanding these trends helps hosts optimize pricing strategies and choose lucrative destinations.
Curated by Learn STR by GoStudioM