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Airbnb Hosting Tips: TOP 5 THINGS I WISH I KNEW WHEN STARTING OUT! - YouTube
Channel: STR University
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Hey guys! This is Richard, founder of
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Short Term Rental Secrets .com. Today the
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Top five things I wish I knew before I
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got started on the Air B&B. I hope you
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enjoy. Have a lower minimum night stay
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requirement. When I got started I thought
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it would be really difficult to have one
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or two night minimums and I thought it
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would be a pain and I didn't think that
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people would book like the Monday
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Tuesday night so I thought gee I'm going
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to make this a little bit more
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convenient and a little bit longer term
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and that's going to help me fill up the
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entire month if I have a five night
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minimum I only need four or five guests
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to fill up the entire month. But in
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reality what I found is having a shorter
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period of time and I typically use
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two night minimums means that I have more
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guests, more turnover, I have less concern
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about those Tuesday, Wednesday periods
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because believe it or not people want to
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travel. So don't worry about the number
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of night minimum unless you're in a
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resort place and it's only weekends. But
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if you're anywhere that has any sort of
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business associated with it or
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conferences or events and entertainment
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worry not about the middle of the week
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as much as you think you might. And what
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I found is that's actually increased my
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revenue tremendously. I know I've talked
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about it a lot is to try dynamic pricing.
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I happen to use Beyond Pricing. I think
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it's fabulous and if you click up here
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you can actually watch an interview that
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I did with Ian the founder. But changing
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your prices on a daily basis is really
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important because there's things that
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happen that affects supply and demand,
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like if there was a big event happening
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in your neck of the woods you wouldn't
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necessarily know about it you might get
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picked off and leave money on the table
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but conversely if there's a big event in
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your neighborhood and you can double or
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triple your income for two or three
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nights that might make your month so
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using something like beyond pricing is
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fantastic. You can go ahead and in the
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comments section will put the affiliate
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link where you can sign up for a free
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trial we get a little bit of help it'll
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help you I highly recommend it. Try
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dynamic pricing it'll really make a big
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difference for you. The third thing I
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wish I knew is just how important
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reviews are and how to get them so what
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I've learned over time is to ask for
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them - it's really easy. Just ask for them.
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When I send a guest check-in
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instructions at the very end I say: We
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really care, we want to earn your 5-star
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review, please let me know what we can do
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to make
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stay better and earn that review.
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Likewise when they check out we send a
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follow up that says you know we hope you
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had a great time please take a moment to
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leave us a five star review and just
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being real subtle about like - five star
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review - it sort of sets their
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expectations that lets them know what
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you're hoping for, lets them know what
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you're striving for, so just ask for it.
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What we've found is it really makes a
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huge difference. People are more than
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happy to do it they just need that
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little bit of reminder and once you set
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their expectations that you're looking
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for a five-star review they actually
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give it unless there's something that's
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wrong. Now, five star reviews mean a lot
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more money in your pocket because of an
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SEO perspective. Airbnb is going to put
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you up higher you're going to earn super
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host status. So you really want that and
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the best way to do it like anything else
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in life is asked for it. Airbnb is more
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than just a booking platform. In fact,
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it's an entire ecosystem, it's a universe
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of companies that have built their
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entire businesses around servicing
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Airbnb hosts and guests. Go to the Airbnb
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site, check out the partner links. There's
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all sorts of companies than services
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that connect via API to your calendar
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they know who's coming and who's going
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and when. So whatever your headache is
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whether it's check-in and key drop or
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cleaning after they depart you name it -
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it's there. The fifth and final tip I
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wish I'd known when I started my
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business is the importance of instant
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book. Make sure that you accept instant
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bookings. It will drive more revenue and
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if you're concerned use the setting that
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I use which limits people the ability to
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book on instant book they have to be
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Airbnb current guests and they also have
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to have favorable reviews so if they've
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used Airbnb in the past and other hosts
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have rated them favorably that's good
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enough for me I automate it. I scale and
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it saves me so much back and forth and
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waiting and the user experience is
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better and I get better placement all
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that translates into more revenue for me.
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So I hope you found this video helpful.
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If you did smash the like button down
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here and go ahead and subscribe up here!
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We're going to be filming more content
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like this that is going to put more
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revenue in your pocket. Tips, advice,
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suggestions. Stay tuned. There's a lot
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more coming. Thanks so very much and have a
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great day!
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