Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | Apartment Sharing

1/23/2023

Will Blockchain Revolutionize the STR Industry?

Ep. 540
Blockchain was introduced in 2008 as part of the model for Bitcoin. And while several STR projects have come and gone in the years since, we have yet to see any concrete implementation of blockchain technology in the short-term rental space. Then again, the first web application launched in 1981, but the internet didn’t gain traction until the mid-1990’s. So, is blockchain technology likely to revolutionize the STR industry? Technology Expert Igor Kostin serves as Cofounder and CTO of iGMS, a vacation rental management platform dedicated to helping hosts grow their hospitality business faster. On this episode of Get Paid for Your Pad, Igor joins me to discuss the evolution of iGMS, describing how it started as a marketplace for cleaners and grew into a full PMS that serves 500,000 STR listings. Igor offers advice on testing user experience to decide what property management system is right for you and explains why there will be fewer PMSs to choose from in the next five years. Listen in for Igor’s insight on the role of technology in the future of short-term rentals and learn how you might leverage robotics, AI and blockchain to benefit your Airbnb business! Topics CoveredIgor’s background in custom technology and software developmentHow iGMS started as a general marketplace for cleaners before focusing on AirbnbsHow managing STRs himself inspired Igor to build tech to streamline operationsWhy Igor and his business partner Ivan tackled automated messaging firstWhy Igor and Ivan turned their messaging system into a software product for other hostsHow iGMS evolved into a full PMS system that serves 500,000 STR listingsIgor’s advice on testing UX to decide what PMS system is best for youWhy Igor predicts fewer PMSs in the STR market in the next 5 yearsHow the trend to remote work might influence the STR industry moving forwardIgor’s take on how blockchain technology might benefit STRs in the next 5 to 7 yearsHow hosts can use AI like Chat GPT for content creation or graphic designConnect with Igor Kostin iGMS [Discount Code GPFYP]iGMS Product Webinar Sign-Up Resources  Guesty’s Acquisition of Your PorterChat GPTSTR Profit AcademyGPFYP on YouTubeGPFYP on InstagramSTR Legends MastermindFREE Airbnb Starter GuideReview GPFYP on Apple Podcasts  Email team@overnightsuccess.io Sponsor Legends X Short-Term Rental Accelerator
1/20/2023

Forget BNBBUST, We’re Going All-In on STRs

Ep. 539
#BNBBUST has been trending on social media since the fall of 2022. But does the slight downturn in the short-term rental market really indicate a bubble about to burst? On this episode of STR Conversations, Eric and I continue our discussion of what we learned in 2022, explaining why we’re all-in on short-term rentals regardless of what the YouTube gurus say. Eric shares his commitment to believe in our STR product and fight like hell for his people, and we explore the benefit of taking days to fully disconnect from the day-to-day of your STR business. Listen in for insight on navigating the ups and downs of the Airbnb market and learn how to take advantage of the massive opportunity for hosts who are all-in on developing a unique hospitality brand in 2023! Topics CoveredWhat we learned from losing a powerful team member to another opportunityWhat it means to believe in the STR product you provideWhat happens when you allow doubt to dictate your decision-makingHow to get to a place where you feel confident about your Airbnb businessThe benefit of celebrating your wins and recognizing the impact you make on the worldWhy it’s crucial to take days where you fully disconnect from the day-to-day of your businessWhy list-it-and-forget-it is a thing of the past as the STR market maturesThe massive opportunity for hosts developing unique hospitality brandsWhy a slight decline in consistent growth doesn’t necessarily indicate a bubble burstHow to navigate the ups and downs of the STR businessWhat Airbnb business models are most affected by a downturn in the marketResources  Ace Hotel AcquisitionAirbnb 2022 Q3 Financial ResultsAirDNASTRInsightsTransparentMADOFF: The Monster of Wall StreetOvernight SuccessSTR Profit AcademyGPFYP on YouTubeGPFYP on InstagramSTR Legends MastermindFREE Airbnb Starter GuideReview GPFYP on Apple Podcasts  Email team@overnightsuccess.io Sponsor Legends X Short-Term Rental Accelerator
1/16/2023

This Little-Known Tool Could Land You More Airbnb Bookings

Ep. 538
More people are living a digital nomad lifestyle or working remotely while on the go making Wi-Fi connectivity front of mind to make those vital business connections and close deals. Plus, more people are investing in family travel experiences, and at the end of a day of adventures, they want to come together to unwind by streaming their favorite TV shows or movies. All these things are making internet connectivity and reliability a top priority when booking a place to stay for today's STR guests. So, how can you assure your guests that your property's internet performance fits the bill for their lifestyle and connectivity needs? Philip Pickard is the Co-founder & CEO of Speedy, Wi-Fi verification. Speedy is a global company offering Wi-Fi verification tools designed to enable remote workers, travelers, and world explorers to accurately assess internet connectivity when booking a STR property while helping hosts increase customer satisfaction for more bookings. Today on Get Paid for Your Pad, Philip joins Jasper to discuss the genesis behind Speedy and the pain points that led to their quest to solve Wi-Fi connectivity issues. Listen in to learn how hosts share real-time Wi-Fi data to their direct booking website (or Airbnb listings) to get a leg up on the competition and attract those travelers with bandwidth requirements for more bookings and repeat guests. Great news! The Speedy Team will waive the installation fee if you mention Get Paid for Your Pad when you contact them. Click here to fill out the contact form on their website or reach out to Philip via email. Topics Covered The two-pronged reason why Speedy jumped into this marketHow to get the full story on the reliability of Wi-Fi in today's digital worldHow Wi-Fi data drives the STR property selection processHow Speedy offers real-time location-based Wi-Fi data for your propertiesHow you can use your Wi-Fi rating to attract travelers with bandwidth requirementsJasper provides a live demo of Speedy on Get Paid For Your Pad YouTube ChannelWhy you should add your Wi-Fi data to your Airbnb listingsHow to use your Wi-Fi data to protect against refund requestsThe 3 biggest benefits of the Speedy serviceConnect with Philip Pickard Philip Pickard - Co-founder & CEO - Speedy Wi-Fi | LinkedInSpeedy - Wi-Fi verification for rental propertiesResourcesGet Speedy - Waive the Installation FeeGet Paid For Your Pad on YouTubeLegends X STR AcceleratorSubscribe to GPFYP on Apple Podcasts FREE Airbnb Starter GuideOvernight SuccessEmail team@overnightsuccess.io
1/9/2023

When disaster strikes your Airbnb

Ep. 536
As short-term rental hosts, we don’t expect bad things to happen at our Airbnbs. Jennifer Lawyer didn’t either. But just 30 days after she’d purchased a hotel in the Ozarks, disaster struck, threatening the health and safety of her guests. What can you do to prevent something similar from happening at your STR properties? Jennifer is Cofounder of SoulSTR, a short-term rental management company that with a portfolio of hotels, motels and log cabins with close to 140 doors. On this episode of Get Paid for Your Pad, Jennifer joins me to discuss the serious carbon monoxide leak that hit her hotel and explain why you can’t trust a generic inspection to identify all safety risks. Jennifer describes the trauma she and her guests experienced from having their health threatened and challenges us to be proactive BEFORE disaster strikes our Airbnbs. Listen in for Jennifer’s insight on building a network of support in the STR community and learn what steps to take to keep your properties safe and protect your Airbnb guests! Topics CoveredWhy Jennifer walked away from a career in education for short-term rentalsHow Jennifer grew from managing one log cabin to nearly 140 doorsThe serious carbon monoxide leak that struck Jennifer’s hotel in the OzarksThe trauma Jennifer and her guests experienced from having their health threatenedWhy you can’t trust a generic inspection to identify all safety risksWhat steps you can take to prevent a carbon monoxide leak at your AirbnbThe regular safety protocols Jennifer implemented across her STR portfolioGetting feedback around safety from the staff who helps maintain and clean the propertyWhat it looks like to be proactive BEFORE disaster strikes your AirbnbsThe strong relationships that helped Jennifer recover from the trauma of the experienceWhat Jennifer is doing to care for the brand for her management companyJennifer’s goal to manage all 140 units with the same level of customer careConnect with Jennifer LawyerJennifer on Airbnb Resources  How to Buy Run-Down Motels and Convert Them into Airbnbs on GPFYP EP468Milpa BrandketingGPFYP on YouTubeGPFYP on InstagramSTR Legends MastermindFREE Airbnb Starter GuideReview GPFYP on Apple Podcasts  Email team@overnightsuccess.io Sponsor Legends X Short-Term Rental Accelerator
1/6/2023

Best of Get Paid For Your Pad in 2022

Ep. 535
2022 was a record-breaking year for the Get Paid For Your Pad podcast, with 99 new episodes!Do you have a favorite? Which one do you think was the most downloaded podcast of 2022?Today for the first Get Paid For Your Pad podcast of 2023, I thought it would be fun to share the show's record-breaking stats and let listeners know which episodes were the most popular of 2022.I'll share the top podcasts in 5 different categories, including top 3 downloads, innovative, inspirational, tools and services, and actionable tips.I’m sharing episodes that include interviews with other hosts who have catapulted their STR units, used outside-the-box ways to fill bookings, and guests who will inspire you with their stories of going from hectic host to LEGEND. Plus, actionable steps YOU can use to make your 2023 STR resolutions a reality.Listen in as I share my goals for the podcast in 2023 while pointing you toward the 2022 podcast episodes that will be really helpful for you to make 2023 the best year yet for your STR business.Topics CoveredThe top 3 most downloaded podcasts in 2022Which episode can help you catapult your number of STR UnitsThe 3 biggest takeaways from David Bergmann, who went From 25 to 100+ STR Units in Less Than 1.5 Years (Ep521)The #1 takeaway from the interview with Tim Mortimer, who has doubled his number of properties since the beginning of the Covid-19 pandemicThe 3 most innovative podcasts of 2022Detailed strategies to get your Airbnb properties noticed (and bookings filled) by film producers, corporations, or corporate travelers for a jackpot payday3 inspirational podcasts that will take you from hectic host to LEGEND in no timeThe BEST innovative tools for up leveling your guests' experience, borrowing funds based on future income, and marketing your properties through influencersActionable steps YOU can use to make your 2023 STR resolutions a realityHow to determine YOUR financial freedom numberThe 5-step process to help you solve communication issues with your guestsFor full episode show notes visit: https://getpaidforyourpad.com/podcast/best-of-get-paid-for-your-pad-in-2022-ep535
12/26/2022

The future of the STR industry with ALTIDO CEO Will Parry

Ep. 534
What does it take to build and manage Europe's largest residential management platform, managing a portfolio of varied asset classes? Today on the show, my guest is Will Parry, the CEO, and Director of ALTIDO. ALTIDO, which stands for 'a life that I dream of', is the largest short term rental company in Europe, with asset classes that include Airbnbs, serviced apartments, hotels, stately homes, and private residences. Will joins me on Get Paid for Your Pad today to discuss the unique selling points of ALTIDO, the advantages and challenges of managing so many different asset categories, and why it's vital to be able to adapt your model to fit your market. Listen in as we discuss the challenges in building the ALTIDO brand, why it's vital to revisit your value proposition to be a successful property manager, and his tips for STR operators who want to grow to over 100 units. Plus, Will shares his advice on what property managers should focus on in the next 3-5 years. Topics Covered Will shares the unique selling points of ALTIDOWhat is the advantage of having multiple asset classesWhy diversification has become integral to their multinational businessDiversifying in the US vs. EuropeWill shares his thoughts on building a brand when you are just starting outThe critical reason for revisiting your value proposition as you build your businessWhy they are on a quest to achieve hotel standards as far as service goesHis recommendations for what property managers should be focusing on in the next 3-5 yearsWhat to focus on to be successful as a property managerWill shares his number one piece of advice for STR operators wanting to grow to over 100 unitsConnect with Will ParryALTIDO Will on LinkedInResources Get Paid For Your Pad on YouTubeLegends X STR AcceleratorJasper on InstagramEric on InstagramGet Paid for Your Pad Email ListSubscribe to GPFYP on Apple Podcasts FREE Airbnb Starter GuideSTR Profit AcademyOvernight SuccessEmail team@overnightsuccess.ioSponsored ByLegends X STR Accelerator
12/19/2022

Hospitality Trends in the STR industry in 2022

Ep. 533
Where'd you get most of your STR bookings this year? What challenges did you face in managing your business? Was there something that stood out that made things easier or something that you thought was a real pain? As we're nearing the end of the year, it's a great time to take a moment and take stock of what worked and what didn't in your short-term rental business this year. It's also wise to examine how your experience as a short-term rental host compares to others in the industry. Today, I'm sitting down with David Jacoby, the President & Co-Founder, and Fred Bassili, the Marketing Manager of Hostfully, to dive into Hostfully's 2022 Vacation Rental Industry & Hospitality Report. On this edition of Get Paid for Your Pad, David and Fred join me to discuss the biggest trends in the short term rental industry in 2022. We discuss the challenges, and opportunities for STR hosts in 2022, including which types of properties are seeing an increase in revenue, and how hosts are increasing their income (without increasing their properties) and what the biggest pain points are across the board.  Listen in as David and Fred share the breakdown of the data from your STR competitors in 2022 and what hosts say they're planning for 2023. Topics Covered Which properties are seeing an increase in revenue (and which are not)Why the increase in the supply of STR properties is a good thing for your bottom lineThe biggest trends in STR portfolio growthWhy new streams of revenue are essential for Airbnb operators in this climateHow outside companies offering everything from locks to tours to furniture are making it easier for property hosts to upsellThe number one pain point that STR hosts faced in 2022 (for the 3rd year in a row)What's gotten easier for property hosts in 2022Why has accounting become a more significant issue in 2022Where are most STR hosts got their booking from in 2022The new trend in listings and attracting long-term staysThe most popular tools Airbnb hosts used to build their businesses in 2022Connect with David and FredDavid JacobyFred BassiliHostfully Resources 2022 Hospitality Industry Study - HostfullyUplevel the Experience for Your Guests with Minoan (Ep504)Get Paid For Your Pad on YouTubeSubscribe to GPFYP on Apple Podcasts FREE Airbnb Starter GuideEmail team@overnightsuccess.ioSponsored ByLegends X STR Accelerator
12/16/2022

Recap of the STR Industry in 2022

Ep. 532
As COVID restrictions eased, 2021 proved to be a record year for most short-term rental markets. But did the trend continue in 2022? Which markets performed better this year? Which markets got softer? And what can Airbnb hosts expect in 2023? On this episode of Get Paid for Your Pad, guest cohost Anurag Verma, Cofounder of PriceLabs, joins me for a recap of the short-term rental industry in 2022, explaining how this year’s numbers compared to 2021 in various markets in the US and around the globe. Anurag describes how to calculate RevPAR and why it’s an important metric for STR hosts to understand, and we discuss why Airbnb’s new total price display policy was a positive change overall. Listen in for Anurag’s insight on the current pace of bookings for 2023 and learn how PriceLabs free market reports can help you analyze your portfolio and outperform the competition—no matter what’s happening in the market! Topics CoveredHow COVID continues to impact STR markets in some parts of the worldWhat the data says about how 2022 compared to 2021 for the short-term rental industryHow Airbnbs in cities performed in 2022 relative to drive-to destinationsWhy general occupancy, daily rate and length of stay all went down in 2022How to calculate RevPAR and why it’s an important metric for STR hosts to understandWhy Airbnb’s new total price display policy was a positive change overallWhat hosts can do to incentivize longer stays without charging a pricey cleaning feeWhy guests may be holding off on booking for summer 2023 (and why you shouldn’t lower your prices just yet)Why STRs in Europe had stronger numbers in 2022 compared to 2021The free market report functionalities available to hosts on the PriceLabs platformThe improvements to the pricing algorithm, data products and free tools PriceLabs is launching in 2023Anurag’s shameless plug for his new book, The Book Direct PlaybookResources  PriceLabsPriceLabs’ Market DashboardPriceLabs’ Portfolio AnalyticsAirbnb’s Total Price Display PolicyThe Book Direct Playbook: Say Goodbye to OTAs with Proven Marketing Tactics to Boost Direct Bookings by Mark Simpson, et al.GPFYP on YouTubeGPFYP on InstagramSTR Legends MastermindFREE Airbnb Starter GuideReview GPFYP on Apple Podcasts  Email team@overnightsuccess.io Sponsor Legends X Short-Term Rental Accelerator