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

In this episode of 'Get Paid for Your Pad', Jasper Ribbers discusses the importance of Airbnb categories and how hosts can request to be listed in specific categories to enhance visibility and performance. He emphasizes the growing gap between professional and non-professional inventory in the short-term rental market and the necessity for hosts to optimize their listings. The episode provides a step-by-step guide on how to request category changes, the criteria for being accepted into certain categories, and tips for improving overall listing quality. Jasper also shares valuable resources for hosts to enhance their Airbnb business.

Takeaways

You can request specific categories for your Airbnb listings.

The performance gap between professional and non-professional listings is widening.

Optimizing your Airbnb listing is crucial for success.

Being in multiple categories increases your visibility.

Request category changes if your listing is miscategorized.

Understanding category criteria can improve your chances of acceptance.

Details in your listing can significantly impact guest experience.

Bad reviews can severely affect your listing's performance.

Utilizing resources can help improve your Airbnb business.

Regularly updating your listing is essential for maintaining competitiveness.

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

In this episode of 'Get Paid for Your Pad', host Jasper Ribbers returns after a break to share updates on his personal life and the short-term rental market. He reflects on the past year, discussing trends in booking behavior, the importance of professionalism in hosting, and strategies for increasing revenue in a stagnant market. Ribbers emphasizes the need for hosts to adapt to changing market conditions and to utilize tools like Airbnb custom promotions to enhance visibility and bookings.

Takeaways

Jasper is back to podcasting after a break.

2024 showed little growth compared to 2023.

Booking windows are shortening due to economic uncertainty.

Travel trends are returning to traditional patterns.

Professionalism is crucial for success in short-term rentals.

The gap between professional and amateur hosts is widening.

Investing in amenities can enhance guest experience.

Hosts should be competitive during low seasons.

Airbnb custom promotions can help attract bookings.

More training resources will be available for hosts.

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

In this episode, Jasper Ribbers and Tom Sharkey discuss the latest updates in their podcast journey, the introduction of new team members, and the intricacies of revenue management in the short-term rental industry. They share insights on the importance of daily focus in revenue management, the evolving market trends, and strategies for optimizing bookings during low seasons. The conversation emphasizes the significance of understanding booking windows, pacing, and utilizing data to make informed decisions in a competitive landscape.

Takeaways

• Jasper is committed to continuing the podcast for the foreseeable future.
• The team has expanded to manage over 600 listings.
• Revenue management requires daily focus and cannot be a side task.
• The short-term rental market is becoming increasingly competitive.
• Understanding booking windows is crucial for effective revenue management.
• Preparation for low seasons should start well in advance.
• Pacing helps gauge market demand and adjust strategies accordingly.
• Flexibility in minimum night stays can attract more bookings.
• Data-driven decisions are essential for optimizing revenue.
• The team is excited to serve clients and expand their services.

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

In this episode of 'Get Paid for Your Pad', Jasper Ribbers discusses the latest features from Hostly with Fred Bassili and David Jacoby. They delve into the importance of upselling in the current flat market, exploring various upsell strategies and the potential revenue they can generate. The conversation highlights the integration of AI in property management, the significance of early check-ins and late check-outs, and unique upsell ideas that can enhance guest experiences. The episode concludes with practical advice on implementing upselling strategies effectively.

Takeaways

Hostfully has introduced new features including Inbox AI for messaging.

AI can help save time in guest communication without fully automating responses.

Upselling is crucial in a flat market to increase revenue.

Many property managers plan to implement upsells but few actually do.

Early check-in and late check-out are popular upsell options.

Unique upsell ideas can significantly enhance guest experiences.

Revenue from upsells can be a substantial part of overall income.

It's important to vet local tour operators when offering experiences.

Technology can streamline the upselling process for property managers.

Start small with upselling strategies and expand as you learn.

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

Sergio Castaneda, founder of Jungle House, shares his journey of growing his short-term rental business from 1 or 2 buildings to 19 units. He discusses the importance of systemizing and growing the team, focusing on the owner side of the business, and transitioning into commercial properties. Sergio also explains the concept behind the Jungle House brand, which revolves around his love for plants. He highlights the benefits of delegating tasks, such as plant maintenance, to local vendors. Sergio emphasizes the value of having a dedicated team and the impact it has on revenue management, including capturing extra guest fees and handling damage claims.

Takeaways

• Systemizing and growing the team are crucial for scaling a short-term rental business.
• Focusing on the owner side of the business can lead to increased control and profitability.
• Delegating tasks, such as plant maintenance, to local vendors can improve scalability.
• Capturing extra guest fees and handling damage claims can significantly impact revenue.
• Having a dedicated team allows for more opportunities and a better guest experience.
• Working with a revenue management expert can optimize pricing and improve overall performance.

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