News
Stay updated with the latest STR industry news and regulations
Streamline your hosting operations with Hospitable
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.
Scaling Up, Scaling Down: A Host’s Odyssey from 0 to 600 and Back to 300 Units (Ep 585)
This podcast episode details an STR host's journey, from rapid scaling to near-collapse during COVID, and then a rebound. The guest host shares valuable lessons learned in navigating market fluctuations, regulations, and financial challenges, emphasizing the importance of adaptability and risk management.
Scaling Up, Scaling Down: A Host's Odyssey from 0 to 600 and Back to 300 Units
This article discusses the journey of an STR host, Syed, who scaled his business from 0 to 600 units and then back to 300. It highlights the importance of partnerships, building a strong team, and understanding market volatility, particularly seasonal fluctuations. It also mentions a series of episodes covering revenue management best practices and how to avoid overwhelm as an STR CEO. Hosts should learn from the successes and challenges highlighted to improve their own business strategies and efficiency.
New York is about to crack down on short-term rentals. Here's what travelers should know - USA Today
This article from USA Today signals a crackdown on short-term rentals in New York. Hosts and travelers should be aware of potential regulatory changes and stay informed about local legislation impacting the STR market.
Knox County considering regulations for short-term rentals like Airbnb, Vrbo - WATE 6 On Your Side
Knox County is considering implementing new regulations for short-term rentals, potentially impacting hosts operating on platforms like Airbnb and VRBO. Hosts should stay informed about these potential changes as they could affect their ability to operate or require adjustments to their business.
Knox County considers laws for Airbnb, VRBO rentals. What to know - Knoxville News Sentinel
Knox County, TN is considering new regulations for short-term rentals listed on Airbnb and VRBO. Hosts in the area should stay informed about potential changes to ensure compliance with local laws. Keep an eye out for updates from local authorities.
Cost segregation strategies to minimize your taxes (Ep584)
This podcast episode discusses cost segregation strategies for short-term rental properties, emphasizing the ability to depreciate the costs of renovations, new furniture, and other durable items. Hosts can deduct these expenses or depreciate capital expenditures, but it requires a specialist to perform a cost segregation study to maximize tax savings.
Cost segregation strategies to minimize your taxes
This article from "Get Paid for Your Pad" discusses cost segregation strategies, a tax strategy that allows real estate investors, including STR hosts, to accelerate depreciation deductions and potentially save on taxes. The article emphasizes the importance of using specialized professionals for cost segregation studies and taking advantage of bonus depreciation. Hosts should consider exploring cost segregation to potentially lower their tax liabilities.
Best way to work with management clients (Ep583)
This podcast episode discusses how to structure management deals with clients. The guest shares insights on charging structures, specifically discussing the pros and cons of charging on gross versus net revenue, along with strategies for clear client communication. Hosts can learn from the speaker's experience in streamlining their management practices and client communications.
Best way to work with management clients
This article discusses the importance of clear contracts and communication when working with property management clients. It highlights the transition from co-hosting to direct property management and emphasizes the value of building a distinct brand identity. Hosts should prioritize clear agreements, effective communication and a strong brand to improve client relations and overall business success.
Property Management Software Onboarding Tips (Ep582)
This podcast episode discusses Hostfully, a property management software (PMS) that integrates with digital guidebooks. Hosts can use the discount code "Legends" for a discount on Hostfully's PMS and guidebooks. It emphasizes the importance of dedicating time to learn the PMS for the best results, as jumping between PMS systems can be detrimental.
Airbnb Hosts Try to Evade City Regulations, From Copenhagen to Catalonia - Bloomberg.com
This article discusses how Airbnb hosts are attempting to evade short-term rental regulations in various cities. Hosts should stay informed about local regulations and ensure compliance to avoid fines and potential legal issues.
Property Management Software Onboarding Tips
This article discusses onboarding tips for property management software (PMS) using Hostfully. It emphasizes the importance of dedication and time investment to leverage the software effectively, along with a discount code for hosts. Also included are discussions on revenue management routines and CEO responsibilities in STR businesses.
New Hospitality Brand Freewyld Launches in August (Ep581)
This podcast episode features an interview with Eric Mueller of FreeWild, a new hospitality brand focused on converting old vacation rental communities and boutique hotels into modern short-term rental experiences. The discussion focuses on the brand's attention to detail in creating a superior guest experience, from design to technology. Hosts can gain insights into enhancing their guest experiences by focusing on details like seamless check-in and thoughtful design elements.
Philadelphia is cracking down on Airbnb and Vrbo. Locals are torn over whether it's a good thing. - Business Insider
Philadelphia is cracking down on short-term rentals, impacting hosts using platforms like Airbnb and Vrbo. This means potential new regulations or stricter enforcement. Hosts should stay informed about local ordinances.
New Hospitality Brand Freewyld Launches in August
This article discusses Freewyld, a new hospitality concept that allows guests to choose between 'Free Mode' with modern comforts and 'Wyld Mode' that encourages disconnecting from technology and embracing nature. The article also touches on revenue management strategies, the role of a CEO in an STR business, and how STR pricing differs from hotel pricing. Hosts should consider the Freewyld approach for their listings and review the revenue management strategies.
From Flipping Houses to starting an Airbnb Fund (Ep580)
This podcast episode features a discussion on how to grow a short-term rental business, from flipping houses to property management to starting a fund. The guests discuss leveraging tech like ChatGPT and Yada.ai, and also emphasize the importance of setting minimum night stays based on how far in advance guests book to maximize revenue.
From Flipping Houses to starting an Airbnb Fund
This article discusses pricing strategies, guest review optimization, and building a strong team for STR success. It highlights the importance of tiered pricing, automated guest messaging, and creating a positive guest experience to boost ratings. Consider implementing these strategies to enhance your revenue and guest satisfaction.
Does investing in short-term rentals make sense at 7% mortgage rates? (Ep579)
This podcast episode discusses the current market for short-term rentals, highlighting the impact of rising interest rates and fluctuating home prices. The episode advises hosts to analyze markets individually, consider negotiation opportunities, and be wary of properties bought during peak market conditions.
How to prevent your guests from smoking in your Airbnb’s (Ep578)
This podcast episode discusses how to prevent guests from smoking in your Airbnb and other potential issues like parties and noise complaints. The episode highlights the early days of Airbnb and emphasizes the importance of managing properties remotely and creating a positive relationship with neighbors. Hosts should consider methods for addressing potential problems such as noise and smoking to maintain good relationships with neighbors and avoid negative consequences.