• Short Term Rental Riches

  • Auteur(s): Tim Hubbard
  • Podcast

Short Term Rental Riches

Auteur(s): Tim Hubbard
  • Résumé

  • Tim Hubbard, successful investor and CEO of a seven-figure short term rental management company shares it all. The insider tips you need to know to acquiring, operating and scaling a successful short term rental business.
    Tim Hubbard
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Épisodes
  • 266. 4 Risky Markets to Avoid in Short-Term Rental Investing
    Dec 17 2024

    Real estate markets are constantly evolving, and short-term rental investing adds another layer of complexity. As an Airbnb host or STR investor, it’s not just about demographics and trends. You also need to consider unique factors like oversupply in short-term rentals, the potential for unfavorable regulations, and even crime rates in your chosen market. These risks, if overlooked, can undermine the success of your investment.

    In this video, we’ll unpack four reasons why some markets are just too risky for your next Airbnb or STR property. From volatile real estate speculation risks to markets with increasing short-term rental competition, knowing how to identify red flags can save you from costly mistakes. We’ll also talk about how guest reviews and selecting the right property type can help you stand out in competitive markets. So, whether you’re using tools like AirDNA to assess market trends or navigating landlord laws for STRs, these tips will ensure your next move is a smart one.

    5 Key Points:
    • Speculative Markets Are Risky: Investing in areas reliant on unpredictable appreciation is a gamble. Focus on markets with stable growth and strong fundamentals, avoiding those known for real estate speculation risks.

    • Oversupply Can Hurt Profits: Use tools like AirDNA to analyze how new short-term rentals impact average occupancy and daily rates. Markets flooded with STRs often lead to declining revenues.

    • Landlord Laws Matter: Research local landlord laws for STRs to ensure you're compliant. Regulations are constantly changing and can significantly affect your ability to operate.

    • Crime Rates and Reviews: High crime rates can hurt both property value and guest experiences. Negative reviews stemming from unsafe neighborhoods can drive away future bookings.

    • Differentiation is Key: In oversaturated markets, focus on delivering exceptional guest experiences and maintaining strong Airbnb reviews to outperform the competition.

    Investing in short-term rentals offers fantastic opportunities, but only if you approach it with the right knowledge. Understanding real estate speculation risks, avoiding oversupply, navigating landlord laws for STRs, and prioritizing safe neighborhoods are critical steps toward success.

    Stay ahead by leveraging tools like AirDNA, focusing on guest reviews, and staying informed about market trends.

    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.

    Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.

    You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

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    14 min
  • 265. 6 Hidden Costs Your Guests Pay | Airbnb Pricing Insights
    Dec 10 2024

    If you're managing short-term rentals, you know how vital dynamic pricing tools are to maximizing your revenue. Platforms like PriceLabs and Wheelhouse integrate seamlessly with Airbnb, VRBO, and Booking.com, making it easier to adjust rates daily. However, what many hosts don’t realize is that the price you see in your tool often doesn’t match the final cost your guests pay. These hidden costs—from platform commissions to payment processing fees—can significantly impact your pricing strategy and overall revenue management.

    In this episode, I’ll break down 6 hidden factors affecting the prices your guests see. Whether it’s Airbnb commission fees, property management software charges, or local taxes, understanding these details is key to staying competitive. We’ll also discuss how cancellation policies, STR promotions, and discounts influence your listings on platforms like Booking.com and VRBO. By the end, you’ll have actionable insights to fine-tune your short-term rental revenue management strategy for optimal results.

    Key Points:
    • Channel Commission Fees: Airbnb, VRBO, and Booking.com charge varying fees that directly impact the final price your guests see. Stay informed to stay competitive.

    • Property Management Software Charges: Tools like HostAway and Guesty often add hidden fees, which can inflate the price without your knowledge.

    • Payment Processing Fees: Credit card fees, often around 3%, are passed on to guests or deducted from your revenue, depending on the platform.

    • Cancellation Policies & Rate Plans: Offering flexible or non-refundable booking options can change guest pricing significantly and impact your revenue strategy.

    • Taxes & Local Fees: STR taxes, like transient occupancy fees, can vary widely by location and platform. Make sure your listings on Airbnb, VRBO, and Booking.com are aligned.

    Pricing isn’t just about setting competitive rates—it’s about understanding the ecosystem of fees and commissions that affect your listings. By diving into these dynamic pricing insights, you’ll be better equipped to maximize your short-term rental revenue and deliver great guest experiences. If you’re looking for help with revenue management or pricing strategies, my team and I are here for you.

    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.

    Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.

    You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

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    16 min
  • 264. Industry Trends - People are Searching for Cheaper Options
    Dec 3 2024

    Welcome back to the Short Term Rental Riches podcast! Today, we’re unpacking the latest trends reshaping the short-term rental industry, straight from the HostChella conference in Miami.

    One of the biggest takeaways? Travelers are opting for more budget-friendly alternatives—what Airbnb calls "destination dupes." Instead of splurging on high-demand locations like Lake Como, Italy, guests are gravitating toward nearby, affordable destinations like Lake Maggiore. This shift offers a huge opportunity for property investors looking to expand their portfolios without breaking the bank.

    Whether you're new to short-term rentals or a seasoned host, these insights will help you maximize bookings, improve efficiency, and stay ahead of the curve.

    5 Key Takeaways:

    • Budget-Friendly Travel Is Booming:
      Guests are seeking affordable "destination dupes," making secondary markets a hot spot for short-term rental investment.
    • Maximize the 'Billboard Effect':
      Listing on OTAs like Airbnb and Booking.com can drive direct bookings—especially if you create a dedicated website using tools like HostAway.
    • Adopt Dynamic Pricing Strategies:
      With tools like PriceLabs or Wheelhouse, adjust your rates to market demand and maximize revenue​.
    • Plan Ahead with Open Calendars:
      Travelers are planning further out—up to 18 months in advance—so opening your calendar wide can increase visibility and bookings.
    • Navigate Changing Regulations:
      STR regulations vary by city and neighborhood. Use services like Avalara to ensure compliance and avoid surprises​.

    Thanks for tuning in to this week’s episode! The travel landscape is evolving, and staying informed is your ticket to success in the short-term rental industry. Whether you're adjusting to new guest trends or exploring tools to streamline your operations, there’s always an opportunity to grow.

    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.

    Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.

    You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

    Voir plus Voir moins
    16 min

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