Curious what your portfolio’s potential is? Apply for RPM at https://freewyldfoundry.com/rpm/.

Hey there! Welcome back to Get Paid for Your Pad! Today, you’re joining me from Savannah, Georgia, where I’m visiting one of our revenue managers, Thomas. If you’ve never been, it’s a historic and charming city with amazing weather and incredibly friendly people. I’m even planning to go kayaking this weekend—which should be a blast!

In this episode, I’m answering your biggest questions about Airbnb’s Photo Tour feature, using pricing tools effectively, and managing last-minute pricing. There’s a lot of confusion around Airbnb’s new Photo Tour functionality, and you might be wondering if it’s really worth using. I’ll explain why it actually helps boost bookings and how to maintain control over your first five photos. I’ll also break down why pricing tools like PriceLabs are a must-have for short-term rental hosts—and how you can fine-tune the settings to make them work for your business. Lastly, if you’re spending too much time manually adjusting last-minute prices, I’ll show you a better, automated approach to make your life easier.

If you’re looking to optimize your Airbnb listing, I’ve got something for you—a free Airbnb Optimization Checklist! You can grab it at freewyldfoundry.com/checklist to make sure your listing is fully optimized and ready to convert more bookings.

Got a question for me? Email me at jasper@freewyld.com, and I might feature it in a future episode. Now, I’m off to explore more of Savannah and maybe try some Southern food. Thanks for listening—see you next time!

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Curious what your portfolio’s potential is? Apply for RPM at https://freewyldfoundry.com/rpm/.

In this podcast episode, Jasper Ribbers discusses the three biggest mistakes short-term rental operators make in revenue management. He emphasizes the importance of competitive pricing during the low season, avoiding overpricing in the high season, and setting prices for peak demand dates well in advance. The episode provides actionable insights and strategies to maximize revenue and occupancy rates for rental operators, along with a free resource announcement for further learning.

Takeaways

• Avoid waiting until the last minute to drop prices.
• Every booking in low season can lead to future revenue.
• Monitor market trends to set realistic pricing goals.
• Don't price too low during high season to avoid leaving money on the table.
• Set prices for peak demand dates well in advance.
• Use data analytics to inform pricing strategies.
• Keep your listings active to improve visibility on platforms like Airbnb.
• Consider the indirect value of bookings beyond immediate revenue.
• Utilize free resources and workshops to enhance revenue management skills.

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Curious what your portfolio’s potential is? Apply for RPM at https://freewyldfoundry.com/rpm/.

In this podcast episode, Jasper Ribbers welcomes back Derek Gisriel, a successful short-term rental entrepreneur who first appeared on the show in May 2023. Since then, Derek has made significant progress in his business, growing from one property to managing 26. He shares his journey, from starting in real estate with a W2 job and owning a solar company, to launching a property management business, Level Up, which now manages multiple properties.

Derek talks about the importance of guest experience, having a personal touch in hospitality, and how this has been key to his success. He emphasizes the importance of consistency, especially in content creation, and how he uses tools like a calendar to plan his week and content. Despite occasional setbacks, Derek's approach to content creation and business growth focuses on showing up, staying consistent, and sharing valuable knowledge.

The conversation also covers revenue management, with Derek explaining how using tools like PriceLabs to optimize pricing and implementing length-of-stay discounts has helped increase their revenue. He discusses the importance of guest reviews and how personalized touches can elevate the guest experience and secure five-star ratings.

Finally, Derek shares some insights on the value of joining a community, like the Legends X program, to get support from others in the industry. He stresses that the success they've achieved didn’t happen overnight but was built with consistent effort and learning from others.

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