Short Term Rental Riches

The key to success in the short-term rental business is exposure, high reservations, and maximizing your income. And one way to achieve this is by expanding your listing reach beyond Airbnb or VRBO. This week, we're putting the spotlight on Furnished Finder, a platform initially designed for traveling nurses but now catering to a broader audience. Whether you're a pro or new to the platform, this episode will unveil the potential benefits of incorporating Furnished Finder into your property portfolio. Stay tuned for a deep dive into this game-changing platform!

Welcome back to the Short-Term Rental Riches Podcast! We're thrilled to have you with us for another week of valuable insights and strategies. In the ever-evolving world of short-term rentals, there's always something exciting to discuss. If you're new to the podcast, be sure to explore our previous episodes and check out strriches.com for a treasure trove of resources, including the tools and programs I personally use in my short-term rental business. Today, we're shining a spotlight on Furnished Finder – a platform with enormous potential. Let's explore how it can take your rental income to new heights!

In this episode, you'll learn:

• The unique opportunities Furnished Finder provides for hosting extended-stay guests.
• How to adapt your short-term rental strategies for Furnished Finder's platform.
• Strategies for simplifying operations on Furnished Finder
• Tips for preventing double bookings when listing your property on Furnished Finder.
• The importance of centralized communication channels and dedicated phone numbers for efficient management.

As we wrap up this episode, we hope you've gained valuable insights into the potential of Furnished Finder for your short-term rental business. With its focus on medium-term stays, this platform is paving the way for the future of the industry. So, if you're looking to expand your exposure and bookings, don't hesitate to explore Furnished Finder. Whether you're a seasoned host or just starting out, there's a world of opportunity waiting for you in the medium-term rental market. Thanks for tuning in, and we wish you a fantastic week ahead, filled with fully booked properties and thriving rentals. Until next time!

Need help managing your short-term rental and you don’t want to go it alone?Shoot us a message hereand we’ll see if we can help.

Stay updated on all things short-term rentals and join us at our upcoming virtual event on October 14th, where we’ll delve into margin mastery and share our industry expertise.Find out more here

Welcome back to the Short-Term Rental Riches podcast. In this episode, we're diving deep into the world of short-term rentals with a true industry expert, Shawn Moore. Shawn is the host of the Vacation Rental Revolution podcast, an author, and the founder of Vodacy. With 23 years of experience in real estate investing and short-term rentals, Shawn has a wealth of knowledge to share.

Join us for an insightful conversation where Shawn discusses how he stumbled upon the world of short-term rentals by accident, the evolution of the industry, and the keys to success in this ever-growing market. From choosing the right property to finding the perfect management partner, Shawn shares valuable insights to help you thrive in the short-term rental business.

In this episode, you'll learn:

• The three phases of short-term rental success: Acquisition, Management, and Marketing.
• The importance of curating a unique guest experience.
• Strategies for choosing the right property manager for your short-term rental.
• How the short-term rental industry has evolved and the opportunities it presents.
• Tips for navigating regulations and raising the bar for hospitality.

If you're considering entering the world of short-term rentals or looking to elevate your existing portfolio, this episode is a must-listen. Shawn's expertise will empower you to make informed decisions and achieve success in this exciting industry.

Don't forget to grab a free copy of Shawn's book, "What the Hell Is a Lifestyle Asset?" on Vodyssey's website to dive even deeper into the world of short-term rentals. And if you enjoyed this episode, please like, subscribe, and leave a review to help us continue bringing you valuable insights from industry experts. Thanks for tuning in, and let's get started!

Need help managing your short-term rental and you don’t want to go it alone?Shoot us a message hereand we’ll see if we can help.

Stay updated on all things short-term rentals and join us at our upcoming virtual event on October 14th, where we'll delve into margin mastery and share our industry expertise. [Find out more here]

Welcome back to the show! I'm thrilled to have you here as we explore the exciting intersection of technology and short-term rentals. In today's episode, we're delving into the essential tools and tech that can supercharge your property management game. Whether you're a seasoned host or just starting out, these insights will help you save time and boost your efficiency.

By investing a bit of time in strategizing and adopting technology, we can unlock a world of possibilities for our short-term rental businesses. I understand that we all have busy lives, but trust me, dedicating a few minutes to optimize your processes can pay off immensely in the long run. So, let's dive in and discover how you can make your short-term rental venture a tech-savvy success!

In this episode, you'll learn:

• Streamline Your Workflow
• The One Thing Principle
• Browse Smarter
• Investigate Alternative Methods

We hope you found these tech and tool insights valuable for your short-term rental journey. If you did, don't forget to like, subscribe, and share this video with fellow property managers and enthusiasts.

Need help managing your short-term rental and you don’t want to go it alone?Shoot us a message hereand we’ll see if we can help.

Stay updated on all things short-term rentals and join us at our upcoming virtual event on October 14th, where we'll delve into margin mastery and share our industry expertise. [Find out more here]

Welcome to a milestone episode, #200! It's hard to believe that for almost four years, we've been sharing valuable insights about short-term rentals every week. In this special episode, we take a moment to reflect on the incredible journey we've had so far.

From the early days of traditional rentals to the exciting world of short-term rentals, we've covered it all. Whether you're a seasoned host or just starting, our real-world experience and advice are here to help you succeed. Join us as we share the highs and lows, from property purchases to international travels, and discover how short-term rentals can be a game-changer for your real estate journey. Thank you for being part of our community, with listeners from around the globe, and let's look forward to the next 200 episodes of Short-Term Rental Riches!

This episode covers:

• Reflecting on 4 years of weekly episodes dedicated to short-term rentals
• Going from traditional rentals to short-term rentals
• The bright future of the short-term rental industry
• Recommended books to expand your knowledge and mindset
• The value of continuous learning and staying informed in the industry
• Seizing opportunities in today's buyer's market

Thank you for joining us on this incredible journey! If you enjoyed this episode, don't forget to like, subscribe, and share it with fellow short-term rental enthusiasts. Stay tuned for more invaluable insights and here's to your ongoing success in short-term rentals!

Need help managing your short-term rental and you don’t want to go it alone?Shoot us a message hereand we’ll see if we can help.

Stay updated on all things short-term rentals and join us at our upcoming virtual event on October 14th, where we'll delve into margin mastery and share our industry expertise. [Find out more here]

In this exciting episode, we're diving into Part 2 of our Q&A series, where we address your most pressing questions about the dynamic world of short-term rentals. Whether you're a seasoned host or just starting in the industry, this episode will provide you with valuable knowledge to enhance your success.

In this episode, we'll:

• Discover the tasks you can delegate to virtual assistants in the short-term rental industry.
• Explore the differences between Relay Bank and Mercury Bank for property management.
• Get insights into how using multiple platforms affects your property's SEO and ranking on Airbnb.
• Learn about review removal strategies and why persistence matters.
• Find out if using a HELOC to buy a rental property is a good idea.

Join us as we unravel the intricacies of the short-term rental business, share industry secrets, and equip you with the tools to thrive in this ever-evolving landscape. Don't miss out on this valuable episode and take your short-term rental venture to the next level!

Need help managing your short-term rental and you don’t want to go it alone?Shoot us a message hereand we’ll see if we can help.

Stay updated on all things short-term rentals and join us at our upcoming virtual event on October 14th, where we'll delve into margin mastery and share our industry expertise. [Find out more here]

Imagine getting started in the short-term rental industry over 26 years ago.

Yeah, way before Airbnb even existed. How would you do your research? What tools would you use to help manage and operate?

Things would be much different, wouldn’t they?

Now imagine if you were still working in the industry day in and day out…

Our guest this week is just that person.

Steve Trover experience in the short-term rental world from building a management portfolio of 400 properties, developing new purpose-built STRs, the former president of the most recognized short-term rental conference; the VRMA.

The list goes on…

I had the pleasure of interviewing Steve and am looking forward to sharing some of his expert insights including:

• New Construction and purpose-built STRs
• How access to data has changed but doesn’t tell the whole story
• How to know if you need to hire someone
• What to look for with your first hire
• Why personality tests are crucial for any team member
• Importance of structuring your interviews
• Why the world is our oyster
• Why short-term rentals are here to stay

You can find out more about Steve by visiting his LinkedIn profile and make sure to check out bettertalent.com for your hiring resources specific to the STR industry.

Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help.

The dates for our Virtual Event in October are now up! [Find out more here]

We get quite a lot of questions and the topics range. I try to lump them together and create a podcast for the ones we get asked most often but I thought it would be fun to do a rapid-fire Q&A for this week’s episode.

The real world is much like school was when we were growing up – we often don’t ask enough questions. And the only way we can become comfortable with what we are doing is by uncovering the answers and diving deeper. So I encourage any of you who have been listening in over the last couple of years to let us know what’s on your mind!

And hopefully this week we will be able to answer some of the questions you *wanted* to ask.

No question is a stupid question! This weeks topics range from:

- Service Animals and our right to refuse them
- Lease arbitrage
- Airbnb Tax reporting
- Enforcing Min age restrictions on different rental websites

So, whether you're a seasoned real estate investor or just starting out, whether you're intrigued by the opportunities of short-term rentals or simply seeking financial freedom, I hope you will find this episode helpful.

I’m excited to announce the dates are out for our upcoming virtual event! We’ll be meeting with a panel of industry experts where you can get your questions answered.

We’ll follow that up with a remote management workshop where we’ll unveil every system our company uses, how you can use the sames ones, and EXACTLY how to actually set them up.

👉 Grab your spot here

Join us on this week's episode of the Short-Term Rental Riches podcast as we dive into a fascinating topic that's poised to reshape the world of real estate: the impact of autonomous vehicles.

In the ever-evolving landscape of real estate investing, demographic shifts and societal changes play a pivotal role in shaping supply, demand, and property values. Think of the seismic shift brought about by remote work – a game-changer for our society. But there's another transformative shift on the horizon, one that's not as far away as you might think, and it's going to have a profound impact on real estate that might not be on your radar just yet.

I recently returned from California, where the beauty of the state was a striking backdrop to ponder the future of real estate. Drawing on personal experiences and industry insights, we'll delve into the realm of autonomous vehicles – a revolutionary development that's quickly gaining momentum. From Tesla's strides in self-driving technology to the intriguing world of autonomous Ubers, the future is closer than you imagine.

Discover how this technological wave will ripple through the fabric of real estate. The traditional mantra of "location, location, location" might take a backseat as the importance of access and commuting changes the game. Imagine a world with reduced traffic congestion, fewer parking garages, and a society on the move like never before.

The dates for our Virtual Event in October are now up! [Find out more here]

Bang bang bang goes the nail gun from the construction project next door.

And…

There’s not much you can do about it.

That’s the reality when our neighbor starts a new renovation project or the lot next door finally sees some framing going up to support a new construction home or building.

While this might freshen up your neighborhood it might also create a not-so-good experience for your next short-term guest.

If they don’t know about it, that is.

Many times construction is out of our control so we need to be proactive.

This week we’ll discuss what you should be doing to make sure those 5-star reviews keep on coming even when things are out of your control.

Stay tuned as we unravel how to:

• Appropriately Planning
• Being proactive
• HOAs (the good and the bad)
• Your neighbors new project
• Making it right when you drop the ball

Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help.

The dates for our Virtual Event in October are now up! Find out more here

Nearly every large real estate deal you see was accomplished through the efforts of more than just one person. Nearly every hotel, shopping center, large apartment complex, mall, you name it - these deals take a lot of work and thus require a lot of finances and brain power.

Most of the time on this show we talk about individual deals like a vacation rental or urban short-term rental. Or even smaller apartment buildings. But what if we want to go bigger? 50, 100, 200+ rentals in the same deal. How can we do that? And what does that look like in the short-term rental world?

As the visibility for short-term rentals continues to grow among investors and venture capital firms realizing the serious potential and returns that can be made through STRs, larger deals are happening.

In fact, I’m in the midst of one myself. So this week I want to share with you:

• What’s a syndication?
• What do these larger deals look like?
• How are larger deals (typically) structured?
• Why these types of deals will continue to become more common

I’m excited to announce the dates are out for our upcoming virtual event! We’ll be meeting with a panel of industry experts where you can get your questions answered.

We’ll follow that up with a remote management workshop where we’ll unveil every system our company uses, how you can use the same ones, and EXACTLY how to actually set them up.

Grab your spot here

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