144: Rookie Reply: 6 Short-Term Rental Tips from Tony J. Robinson

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 1 January 2022

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

From time to time, Ashley and Tony both have questions they need answering. And thankfully, they both host a show with a real estate investor in complementary niches. This week, Ashley is prepping to scale her short-term rental empire, so she wants to know from Tony what his six top tips for vacation rentals would be. Although Tony has only been hosting for a few years now, he has a sizable portfolio that was built fast and efficiently. He’s able to charge top dollar on his vacation rentals due to his management, rehabs, and pricing strategies. If you want to max out your vacation rental income, Tony is the guy to listen to! Here are some suggestions for Ashley: Utilize comparable data to match region-standard checkout policies, nightly pricing, and minimum stays on bookings Find the niche that you can fill and will allow your rental to stand out Do whatever you can to ensure the guest leaves a positive review on your property Communicate with guests in a systematized, timely manner And more in the episode… If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). Links from the Show Real Estate Rookie Rookie Facebook Group Real Estate Rookie Youtube Channel BiggerPockets Real Estate Investing Bootcamp Airbnb Vrbo Robuilt Youtube Channel Hospitable iGMS YourPorter Check the full show notes here: https://www.biggerpockets.com/rookie144 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie, episode 144.
0:08.0	My name is Ashley Care and I am here with my co-host,
0:11.0	Tony Robinson, as today is an episode of the Rookie Reply.
0:15.3	And for those of you that are new to the Real Estate Rookie podcast,
0:18.1	Ashley and I are here to give you the inspiration and motivation,
0:21.8	the confidence you need to break into the role of real estate investing,
0:25.2	financial freedom, really just build the life that you want using real estate as the vehicle.
0:29.4	So what do we got going on today, Ash?
0:31.5	So today, Tony, I really want to talk about short-term rentals.
0:35.2	Ooh, I might know a thing or two about that.
0:38.0	So my partner and I have two cabins under contract that we are going to turn into short-term
0:43.0	rentals. So I thought it was timely to go over what are some basics that investors need to know
0:50.1	when they're getting into the short-term rental space. So I have one Airbnb now that I would
0:55.2	consider it more of a hobby and I'd like to take my short-term rental business and turn it more
1:00.0	into a business. So the one that I have, it's actually an arbitrage where I front the apartment
1:07.2	furnished it and now it is listed as a short-term rental on Airbnb.
1:11.9	And it's gone smoothly, it's gone great, I've had it for two years now and I'm ready to take on
1:18.0	some more properties. So Tony, what's your advice?
1:22.8	Yeah, let's dive into it now. Before I get into all the tips,
1:25.4	this episode airs January 1st, I think. So right around the new year, we have our short-term
1:30.1	rental bootcamp that launches on January 24th. So if you guys want to kind of do a deep dive
1:35.2	on the acquisition process of short-term rentals and make sure you guys sign up for that,
	...

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