Into the Weeds of the Operations of an Airbnb Business, Part I with—David Golshan
Summary
This article is an interview with David Golshan about the operations of his Airbnb business. It covers topics like finding reliable contractors, creating key performance indicators (KPIs) for your team, and the importance of having systems in place to prevent operational issues. Hosts should focus on developing KPIs for their contractors and team members, aligning incentives and creating systems to prevent issues.
Key Insights
- •Managing listings remotely presents operational challenges, requiring proactive measures to ensure quality control.
- •The article suggests that online platforms may not be the best method to find workers in a labor shortage, indicating a shift in hiring strategies.
Action Items
- ✓Develop systems to prevent operational issues and set KPIs for your team members.Effort: mediumImpact: medium
- ✓Consider financial rewards for team members who achieve the set KPIs.Effort: lowImpact: medium
Tools & Resources
- →Julie George: The article mentions Julie George.
- →Breezeway: The article mentions Breezeway.
- →Thumbtack: The article mentions Thumbtack.
- →STR Legends Mastermind: The article mentions STR Legends Mastermind.
- →Legends X 90-Day STR Accelerator: The article mentions Legends X 90-Day STR Accelerator.
- →Hostfully: The article mentions Hostfully [Discount Code PAD].
- →Get Paid for Your Pad: The article mentions Dave on Get Paid for Your Pad EP043 How to Maximize Profit from Your Airbnb Listing by Jasper Ribbers and Huzefa Kapadia.
Watch Out For
- ⚠Relying solely on online platforms may not be sufficient for finding reliable contractors in a labor shortage.
Related News
User Profile: Mountainside Treasures
This article shares the experiences of an STR host who has grown their business from a single condo to nearly 30 properties, highlighting the importance of guest service and the use of OwnerRez. The host emphasizes that delivering a good guest experience is a key factor for success, and struggles with the power of OTAs and challenging guests. Consider OwnerRez as a key tool for managing your properties.
Owner Statements 2.0: Faster, Clearer and Built for Growing Portfolios
Lodgify has released Owner Statements 2.0, promising faster and clearer reporting for property managers. This update aims to cut down manual work and improve the quality of reports shared with owners.
Financial firms face rising cyber risks, data challenges
This article discusses rising cyber risks and data challenges in the financial services industry, including fraud prevention using AI. While not directly about STRs, it highlights the importance of data quality, which directly impacts the effective use of AI for risk management and decision-making for STRs.
Booking.com Refunds Policy: Process and Ts & Cs Explained
This article from iGMS explains Booking.com's refund policies and cancellation options for hosts. It highlights the importance of choosing a cancellation policy that balances flexibility to attract bookings with financial considerations, and encourages hosts to experiment with different policies and rates to find the ideal balance.