{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"","title":"EP155: Airbnb vs. HomeAway and VRBO","description":"To diversify, or not to diversify, that is the question.
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\nShould you be listing on multiple platforms? Or is it better to stick with just one?
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\nRichard Fertig is the host of Short Term Rental Secrets, a YouTube channel dedicated to building a community of short-term rental hosts who learn from each other’s experience. Richard is an entrepreneur and former Wall Street Hedgefunder who signed up for Airbnb four years ago. In that time, he has generated over $500,000 in income hosting his small portfolio of real estate investments.
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\nListen to understand the differences among Airbnb, HomeAway, VRBO and Booking.com. Richard also shares his experience with listing on multiple platforms, discussing the advantages of diversifying as well as the complications that can arise. This is a must-listen for hosts who are weighing the benefits of listing on more than one vacation rental site!
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\nTopics Covered
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\nHow Airbnb is different from HomeAway/VRBO
\n•\tSuperior user experience
\n•\tFocus on building community
\n•\tMutual review of host/guest
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\nThe pricing structures of each platform
\n•\tAirbnb charges 3% fee for each reservation
\n•\tHomeAway employs a flat rate pricing model ($399/year)
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\nThe advantages of HomeAway/VRBO
\n•\tLong-time player in the vacation rental space (ski resorts, beach houses)
\n•\tMore profitable than Airbnb if property located in popular tourist destination
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\nWhy Airbnb is the better choice for new hosts
\n•\tNo risk
\n•\t3 million Airbnb listings (vs. 1.2 million on HomeAway)
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\nThe case for sticking with only one platform
\n•\tBuild strong reputation, credibility (Superhost status)
\n•\tIf demand is high enough (80-90% occupancy), one platform is simpler
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\nThe argument for diversification
\n•\tDon’t leave money on the table (higher occupancy)
\n•\tHomeAway typically generates more bookings for popular vacation destinations
\n•\tSafer to have several business partners (not beholden to single company)
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\nHow to avoid the complications of listing on multiple platforms
\n•\tUpdate and sync calendars on each platform
\n•\tIf double-booking does occur, assist guest in finding accommodations
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\nThe benefits of creating your own vacation rental website
\n•\tFunctions as online business card
\n•\tEasier to share URL
\n•\tIncrease in return customers
\n•\tAbility to post additional content (i.e.: videos)
\n•\tBuilds reputation
\n•\tGuests book directly and avoid fees
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\nBooking.com’s short-term rental component
\n•\tRichard is testing site, will review on channel
\n•\tSerious short-term hosts recommend
\n•\tGuests more transactional (fewer questions, demands)
\n•\tInterface difficult to navigate
\n•\tHigher fees force hosts to raise rates
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\nResources
\nHomeAway
\nVRBO
\nKelly Kampen’s Open Letter to Airbnb
\nLodgify
\nBooking.com Vacation Rentals
\nVacation Rental Website Fee Comparison
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\nConnect with Richard
\nShort Term Rental Secrets YouTube Channel
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\nConnect with Jasper
\nEmail: jasper@getpaidforyourpad.com
\nTwitter: @GetPaidForUrPad
\nInstagram: @GetPaidForYourPad
\nFacebook: www.facebook.com/getpaidforyourpad
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\nThis episode is sponsored by Hostfully.com where you can create a custom digital guidebook for your guests!","author_name":"Freewyld Foundry"}