News

This podcast episode details how an STR host rebuilt his business after a difficult partnership breakup and financial struggles. The host focused on streamlining operations, cutting unnecessary expenses, and restructuring his team, including renegotiating salaries and implementing a bonus structure. Hosts can learn from these experiences to evaluate their own business operations and team management.

This podcast episode features two brothers who pivoted from retail to short-term rentals and launched a property management company, Five Star STR. The discussion covers the challenges of regulations in Las Vegas, the importance of focusing on guest experience, and utilizing tools like virtual assistants and revenue management strategies to stay competitive.

This article from "Get Paid for Your Pad" discusses how the Lotem brothers built a successful STR business with a focus on guest experience and operational excellence. They prioritize safety, unique amenities, and collaboration. Hosts can learn from their focus on detail and innovation.

This article discusses Hostshare, a platform allowing short-term rental hosts to trade unbooked nights with each other. This could potentially help hosts reduce vacancy and increase revenue. No specific action is required, but hosts should be aware of this potential tool.

Property management company Frontdesk is reportedly laying off staff and potentially closing. This is a reminder of the volatility in the STR market and highlights the importance of choosing reliable partners and managing your operations closely.

This article reports a sushi restaurant in Kissimmee, FL, failed a health inspection due to roaches. While not directly about STRs, it reminds hosts of the importance of maintaining a clean and pest-free environment to ensure positive guest experiences and avoid potential issues.

This article discusses the platform Comparent, a new marketplace connecting homeowners with STR managers. It emphasizes the importance of making informed decisions about property management and using tools to vet potential hires. Hosts should consider exploring Comparent to find and evaluate property managers.

This podcast episode discusses common mistakes in the short-term rental industry, as highlighted in the book "The Vacation Rental Secrets." Hosts can learn from these mistakes regarding team building, inventory acquisition, and owner management to avoid common pitfalls and potentially save money and time.

This podcast episode focuses on the challenges of hiring in the short-term rental industry. The guest, Steve Trover, shares insights on when to hire, emphasizing that hosts should focus on freeing up their time to focus on business growth. He also suggests creating an organizational chart to identify tasks that can be outsourced.

This article discusses the importance of careful hiring and strategic team building in the STR industry. It advises hosts to hire slowly, fire quickly, and consider outsourcing certain roles. It also highlights the significance of revenue management and when to bring it in-house.

This podcast episode recaps the VRMA (Vacation Rental Managers Association) conference in Orlando, highlighting the large attendance growth and positive outlook for the industry. Hosts can learn from the experiences of other managers and the value of networking and staying updated on industry tech.

This article discusses key takeaways from the VRMA Orlando conference, including guest experience, AI tools, and hotel lobbyist challenges. It also promotes several episodes of the "Get Paid For Your Pad" podcast discussing revenue management, CEO strategies, and comparing hotel versus short-term rental revenue management. Hosts should consider the insights shared about revenue management routines and CEO focus.

Airbnb is deploying AI to combat parties during Halloween. This initiative highlights Airbnb's ongoing efforts to maintain a safe environment and enforce house rules, preventing disruptive events. Hosts should be aware of this and review their settings. Take steps to minimize the risks.

Safely, a company offering short-term rental insurance and guest screening tools, has raised $8 million in funding. This news suggests potential advancements in risk management and property protection for hosts. Hosts may want to explore these types of tools to safeguard their properties.

Airbnb has announced a new system to verify listings. This means hosts should be aware of potential changes to the platform and how it may impact their listings.

This article reports a Vietnamese restaurant in Kissimmee, FL, closed for a second time due to rat droppings. While not directly about STRs, it highlights the importance of maintaining a clean property, which is crucial for guest satisfaction and avoiding negative reviews or potential legal issues.

This Skift article highlights Vrbo's plans to penalize hosts who cancel confirmed bookings. This policy aims to improve guest experience and uphold booking commitments. Hosts should be aware of potential penalties for cancellations and prioritize minimizing them to maintain their listing's standing on the platform.

This article discusses the importance of successful partnerships in the STR business, highlighting the benefits of complementary strengths and effective communication. Hosts can learn from the experiences shared by James Lucas and Ben Bledsoe who went from being busy hosts to hotelier-like efficiency by using Legends X program and other systems. Consider focusing on communication and evaluating the strengths and weaknesses of any potential partners.

This episode of "Get Paid For Your Pad" features an interview with the Head of Product at Hospitable, discussing the platform's AI-powered messaging and focus on smaller-scale hosts. Hospitable offers a user-friendly platform with an app store in development. Take advantage of their exclusive 25% discount for three months using code GPFYP.

This article discusses Hospitable, a property management software, and its evolution to leverage AI and focus on smaller-scale hosts. It highlights a special discount for "Get Paid For Your Pad" listeners. Hosts can benefit from AI-powered messaging to streamline operations and enhance guest communication.