Short Term Rental Riches

Tim Hubbard

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. read less
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222. Airbnb Hosting Tips from the Cruise Industry
13-02-2024
222. Airbnb Hosting Tips from the Cruise Industry
Welcome back to another episode of the Short Term Rental Riches podcast, where we delve into the world of real estate with a sharp focus on Airbnb hosting and vacation rentals. This time, I'm thrilled to share some fresh insights I gained from a recent 15-day cruise. Not only was it a test of remote work capabilities thanks to Starlink internet at sea, but it also proved to be a treasure trove of lessons that can be directly applied to enhancing our short-term rentals. From impeccable service to the meticulous attention to detail, the cruise industry has perfected the art of guest satisfaction, and there's so much we can learn from them. Whether you're just starting your journey or looking to elevate an existing property, understanding the importance of service, communication, and attention to detail is key to success. Let's explore how we can implement these lessons from the cruise industry to ensure our guests leave rave reviews and keep coming back for more. In this episode you’ll learn: Exceptional Communication and ServiceInvest in the First ImpressionsFurniture and Durability MattersLeverage Technology WiselyThe Power of a Strong Team Remember, the journey to short-term rental success is continuous, and there's always room for improvement. So, take these insights, apply them to your properties, and watch as your business thrives. 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.
221. Should You Still Provide Netflix in Your Short Term Rental?
06-02-2024
221. Should You Still Provide Netflix in Your Short Term Rental?
In today's fast-paced world, where the click of a button brings the world to our screens, the question of whether to offer streaming services in short-term rental properties is more relevant than ever. Gone are the days of Blockbuster runs; in their place, platforms like Netflix, Disney+, Hulu, and YouTube TV have taken center stage. As hosts, we're at a crossroads, figuring out how to navigate this change. Should we keep up with the trend and offer these services to our guests, or is it time to reconsider what entertainment means in the context of short-term rentals?  This episode aims to provide you with the insights needed to strike the perfect balance between providing modern amenities and maintaining operational simplicity in your short-term rental business. In this episode, you’ll learn: Evaluating Guest ExpectationsOperational ChallengesSetting Clear ExpectationsConsiderations for Luxury PropertiesFuture Trends Remember, the ultimate goal is to provide a stay that guests remember fondly, leading to repeat bookings and glowing reviews. Whether that includes access to Netflix or relies on guests using their own accounts, the key is to communicate effectively and set the right expectations from the start. 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.
220. Six Factors that will increase Supply in Your Market
30-01-2024
220. Six Factors that will increase Supply in Your Market
In this episode, we delve into the crucial topic of increasing supply in the short-term rental market. Understanding the dynamics of supply is essential for every STR investor. We'll dive into six specific reasons that could lead to a surge in your local STR market supply. From the impact of regulatory changes to the burgeoning trend of remote work, each factor plays a pivotal role in shaping the landscape of short-term rentals. As we unpack these reasons, remember: knowledge is power, especially in the world of real estate investing. So, buckle up, and let's explore these insights together, equipping you with the tools you need to adapt and thrive in the dynamic world of STR investing. In this episode, you’ll learn: Understand how relaxed STR regulations can lead to an increase in market supply.Learn why new hotels in your area could be both a sign of increased demand and increased competition.Explore how shifting population dynamics can impact STR supply.Discover how changes in lending and interest rates affect the STR market.Uncover the influence of remote work trends on the availability of short-term rentals. Stay tuned for more tips, strategies, and insights to help you navigate the world of real estate investing. Until next time, keep your properties bustling and your investment dreams soaring. Have a fantastic day, everyone! 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.
219. Securing Easy Finance for Life with Jay Conner
23-01-2024
219. Securing Easy Finance for Life with Jay Conner
We're really grateful to Jay Conner for taking the time to share his deep insights and experiences in private lending with us. His expertise is invaluable, and it's always awesome to learn from someone who is an expert in the field. Explore the details of using private funds instead of traditional banking, especially in the profitable realm of short-term rentals. This episode is a goldmine for real estate investors seeking actionable strategies and insider knowledge on leveraging private money to amplify their investment portfolio. Don't miss out on Jay's compelling journey through the 2009 financial crisis and discover how private lending can transform your approach to real estate investing. In this episode, you’ll learn: Private LendingFinancial GrowthPrivate Lending ProgramGetting Started in Real EstateStructuring Private Lender DealsFinancing OptionsUsing Private Money in Real EstateImportance of Having Cash in Real Estate Transactions As we wrap up this enlightening episode of the Short Term Rental Riches Podcast, we extend our heartfelt thanks to Jay Conner for sharing his wealth of knowledge and experience in private lending. His insights not only illuminate a path to success in real estate investing but also inspire a mindset shift towards innovative financing strategies. For those eager to delve deeper into the world of private lending, Jay's book, "Where to Get the Money Now," is an invaluable resource. Additionally, his podcast, "Raising Private Money with Jay Conner," offers ongoing education and inspiration. Thank you for joining us on this journey of discovery and empowerment in the realm of short-term rental investing. Stay tuned for more episodes where we continue to unlock the secrets to achieving rental riches! 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.
217. The Landlord's Guide to Mid-Term Rental Property Management (Part 3)
09-01-2024
217. The Landlord's Guide to Mid-Term Rental Property Management (Part 3)
Mid-term rentals, a unique blend between short-term stays and long-term tenancies, present a distinct set of opportunities and challenges for property owners and managers. Over the course of our three-part series, we've explored the intricacies of this rental niche, offering practical advice and strategies to help you excel in this market. From setting up appealing listings to attract long-term guests to managing every aspect of their stay, our series provides a comprehensive roadmap for success in mid-term rentals. In this final installment, we focus on the crucial aspects of tenant management. Understanding how to effectively manage tenant relationships, address maintenance issues, and handle financial transactions are pivotal elements of running a successful mid-term rental business. We will guide you through the nuances of the move-in and move-out process, discuss the importance of maintaining communication channels with your tenants, and offer solutions for common challenges that arise during longer stays. This episode is designed to equip you with the tools and knowledge needed to ensure a smooth and profitable rental experience for both you and your tenants. In this episode, you’ll learn: Tenant Welcome and OnboardingStrategies for addressing maintenance issuesLease Management and ExtensionsMastering the move-out processThe importance of adapting to tenant needs and feedback We hope this series has provided you with valuable insights and practical tools to enhance your rental property business. Remember, success in mid-term rentals requires a blend of strategic planning, effective communication, and adaptability to meet the evolving needs of your tenants. 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.
216. 2024 Market Predictions… where should you put your money?
02-01-2024
216. 2024 Market Predictions… where should you put your money?
In a world where change is the only constant, staying informed and adaptable is key to thriving in the real estate and STR sectors. 2023 was a year of significant developments, and as we look forward to 2024, it's essential to understand how these changes will shape the future. We dive deep into the macroeconomic factors influencing the market, from interest rates to inflation, and dissect how they're impacting both commercial and residential real estate landscapes. Our focus extends beyond mere speculation, aiming to equip you with the knowledge and tools to make informed decisions and capitalize on emerging opportunities. In this episode, you’ll learn: Comprehensive analysis of how current interest rates  are reshaping the real estate marketsTrends and predictions for the STR market in 2024The role of AI in the STR industryInvestment StrategiesStrategies for navigating the evolving real estate landscape Remember, the key to success in this dynamic market lies in continuous learning, adapting to changes, and strategically planning your investments. We invite you to revisit your goals, analyze market trends, and embrace the technologies and practices that will elevate your real estate journey. Stay tuned for more episodes where we'll continue to explore the depths of real estate and STR markets, offering you the knowledge and tools to turn your investments into success stories. 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.
215. Seven Signs Your STR Demand are likely to increase!
26-12-2023
215. Seven Signs Your STR Demand are likely to increase!
In today's episode, we're exploring the undercurrents that drive demand in various markets, offering you a comprehensive guide to understanding and capitalizing on these trends. The landscape of real estate investment is continually changing, influenced by a myriad of factors from economic shifts to cultural trends. As an investor, staying informed and adaptable is key to navigating this dynamic terrain.  Our journey through the world of short-term rental investment is both exciting and enlightening. We delve into seven critical reasons that are currently driving demand in different markets across the globe. Each factor we discuss is a piece of the larger puzzle, providing a clearer picture of what makes a market ripe for investment. In this episode, you’ll learn: How new attractions can significantly boost tourist inflow and demandThe positive impact of developments like new hospitals and universitiesHow events like concerts (e.g., Taylor Swift shows), sports events, and even the Olympics can temporarily surge rental ratesUnderstand how changes in short-term rental regulations can create unique opportunitiesThe significance of improvements in travel infrastructure, such as new airports, highways, or expansions We hope these insights into the seven key drivers of demand in short-term rental markets have provided you with a new perspective and valuable knowledge to apply to your investment strategies. The world of real estate is vast and full of opportunities, and with the right information, you can navigate it successfully. Remember, every market has its unique characteristics and potential; it's about finding the right fit for your investment goals. Don't forget to visit our website, strriches.com, for more episodes and resources. 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.
214. Overlooked Maintenance: Your team will not know to check
19-12-2023
214. Overlooked Maintenance: Your team will not know to check
In this insightful episode of our podcast, we delve deep into the world of short-term rental property management, emphasizing the crucial role of maintenance in ensuring guest satisfaction and property value. Join us as we discuss the challenges and solutions of remotely managing properties, the importance of a dependable team, and practical tips for keeping your rentals in top condition.  As a property owner myself, I have firsthand experience managing multiple properties across various locations. The lessons learned and the maintenance oversights I discovered are valuable for any property owner or manager looking to streamline their operations and ensure top-notch guest experiences. In this episode, you’ll learn: Understanding the challenges and advantages of managing short-term rentals remotelyCritical Maintenance OversightsStrategies for ensuring your property meets guest expectationInnovative Tools and TechniquesThe importance of having a reliable team As we wrap up this episode, remember that successful short-term rental management is a balance of attentiveness, innovation, and effective teamwork. Whether it’s ensuring the little things like scissors and wine openers are in place, or tackling bigger challenges like pest control, every aspect of maintenance contributes to the overall guest experience. By implementing the strategies and tools discussed today, you can significantly enhance the efficiency and appeal of your rental properties. 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.
213. Get More From The Best Free Tool For Market Research You Already Use
12-12-2023
213. Get More From The Best Free Tool For Market Research You Already Use
Hey Real Estate Enthusiasts! Welcome back! In today's episode, we'll show you how YouTube can revolutionize your real estate research. Forget traditional methods—YouTube is now a treasure trove of property insights, from market analysis to local details. It's been a game-changer in my own journey, but remember, approach it with a discerning eye. Let's dive into the untapped potential of YouTube in real estate! Join me in this eye-opening episode where I break down my personal journey and strategies for leveraging YouTube to scout out the best real estate deals, especially in the ever-changing landscape of short-term rentals. In this episode, you'll learn: Understanding Market DynamicsLearn to use YouTube for in-depth research on specific areasTips on distinguishing between sales pitches and genuine adviceAdditional Resources for Investors  I hope today's episode sheds some light on how YouTube can be a valuable tool in your real estate investment journey. While it offers valuable insights, remember it's just one part of the larger property investment landscape. Use it as a starting point, but supplement your research with diverse sources, consult professionals, visit properties, and maintain a critical mindset – not everything in real estate that glitters is gold. 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.
212. Perfecting Your Mid-Term Rental Guest Screening, Payments, and Lease Agreements (Part 2)
05-12-2023
212. Perfecting Your Mid-Term Rental Guest Screening, Payments, and Lease Agreements (Part 2)
Welcome to the Short-Term Rental Riches, in this second installment of our three-part series, we focus on the critical steps you need to take after receiving an inquiry for a longer guest stay. In the first part of our series, we explored strategic listing placements and optimized copywriting to attract longer-term guests. Now, as inquiries start rolling in, we shift our focus to the meticulous process of running tenant background checks. The transition from guest to tenant varies across states, typically kicking in after 28 days. Now, it's time to change how you manage things. Property owners need to handle longer stays with the same care as they do for long-term leases. Buckle up as we guide you through securing your property, from checking guest reviews to running comprehensive background checks. In this episode, you'll learn: Strategic Background ChecksCrafting a Comprehensive LeasePayment Processing StrategiesDeposit DilemmaLease Highlights and Communication As we wrap up part two of our three-part series, you're now equipped with the knowledge to navigate the landscape of medium-term rentals. From background checks to lease agreements and payment processing, every step is a vital piece in ensuring a seamless and secure experience for both hosts and tenants. Stay tuned for part three! 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.
207. Unlocking the Art of Super Properties with Bill Faeth
31-10-2023
207. Unlocking the Art of Super Properties with Bill Faeth
In today's episode, we're diving deep into the world of super properties with the incredible Bill Faeth, a real estate veteran who has mastered the art of creating unforgettable experiences in short-term rental properties. So, whether you're a seasoned pro or just getting started, fasten your seatbelts because we're about to embark on a journey to discover the secrets of supercharging your short-term rental properties. Stay with us as we uncover the strategies that can turn your rentals into memorable, five-star experiences for your guests. In this episode, we will cover the following key points: Understanding Super PropertiesDiscover how to stack value in your properties to create unforgettable experiences for your guestsLearn the secrets to achieving consistency in property managementFind out how to assemble and manage the ideal team of cleaning and maintenance professionalsExplore the significance of first impressions and attention to detail in guest satisfactionWhy marketing is the most important thing? We hope you've gained valuable knowledge and inspiration that will help you enhance your short-term rental business. Remember, the path to success is built on a foundation of continuous learning and improvement. 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 who may find the info helpful as well.
205. Self Managing for Over A Decade - Tips from Industry Expert Luke Carl
17-10-2023
205. Self Managing for Over A Decade - Tips from Industry Expert Luke Carl
Welcome back, everyone, to the Short Term Rental Riches Podcast! We've got another exciting episode lined up for you today as we dive deep into the world of short-term rentals. Our guest for this episode is none other than Luke Carl, the host of the Short Term Rental Management Podcast and the Director of Education for the Short Term Shop. Luke brings a wealth of knowledge and experience to the table, and we're thrilled to have him on the show. In this episode, Luke takes us on a journey through his real estate ventures, starting with buying his first house and gradually venturing into the world of short-term rentals. He shares stories of early Airbnb adoption, property management, and the birth of the Short Term Shop. Luke's insights and experiences are invaluable for both newcomers and seasoned short-term rental hosts.  In this episode, we'll cover: Luke's Real Estate PortfolioProperty ManagementChallenges of Remote ManagementHousekeeping and MaintenanceTaking care of short-term rental staff We've explored a wealth of knowledge, delved into intriguing discussions, and shared ideas that we hope will inspire you. Remember, the pursuit of wisdom never ends, and we'll be here, guiding you through it. Until next time, keep learning, growing, and embracing the wonders of our ever-evolving world. 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.