Host Rules Or: The 10 Commandments of Short-Term Asset Managers.
So we've come to the last post on our weekly corner, and I want to dedicate it to you, as far as I'm concerned, I wrote after 7 years of experience in the field, over 2,000 guests and countless mistakes ??
1. The choice in your hands- Do not host anyone. Check carefully who is going to visit your property, read the last review / two written about it, and make sure that you are indeed ready for it to come to you.
2. Orders are arranged- In this case do not be tempted to believe that "there is no loyalty like cash", because most of the time it will end in "there is no key like a guest who runs away". Be sure to accept orders only through a neat platform - this is more important than any commission that will be charged from you. If for any reason it turns out that you closed an order that is not through any platform, be sure to sign the guest an orderly agreement that specifies, among other things, the rules of the property and charge an advance fee.
3. Leave your ego at home, not the property- Although I do not advocate that the customer is always right, and I have more than once encountered guests who tried to squeeze refunds unjustly, but in our business it is important to put the ego aside and sometimes know how to absorb. If a customer complains about something, do not defend straight. Listen, try to agree as much as possible, give an answer and get into as few confrontations with a guest as possible. It is important to us that the guest ends his stay as satisfied as possible, so that we receive a positive review that will increase our rating and thus our exposure and the amount of bookings below. This law of course does not apply in 100% of cases, but I tend to believe that we are all here people with reasonable judgment.
4. a picture is worth a thousand words- We have already talked about the importance of professional images that illustrate in the most realistic way what the property looks like in reality. Therefore, there is no reason to show a potential guest the property if there is no actual obligation to do so.
5. We host, not rent- It is important to understand that a guest does not rent that is only heard from him when there are incidents once in a while. A guest needs more attention from us, a sense of personal attitude and high level customer service. Often we even become 144 when it comes to essential attractions / services in the area and that's fine - it will come to us later in the reviews ?? Of course, automation facilitates all communication with the guest and doesn't always have to really talk to them, but simply makes use of systems that do it for us.
6. Property Guide- One of your most important assets is a property guide! Invest in it - detail what is allowed and what is not allowed during your stay, explain how to use different devices located in the property, give even some recommendations for equal places in the area. This will save you discomfort in front of guests who may be doing things that are not acceptable to you (smoking for example), will make it easier for the guest to get to know the apartment better and will save inquiries to you. Tip from me: Invest once in a guide from A to Z, and in the following properties you will duplicate and only make slight adjustments.
7. Important dates- Beyond the holidays (not just Israeli holidays of course since these are usually tourists), it is important to know in advance about events that take place in the country / area of your property - such as a special marathon, the Pride Parade, etc. This will help you to price differently (it is important that you be proportionate and not overly piggy) and not find out in retrospect that your property was cheaply booked on a super requested date.
8. Moderate price changes- Even in difficult times (such as during the corona crisis), do not be tempted to cut prices drastically. I'm an officer and say that sometimes empty apartments are better than penny orders. Unlike "regular" landlords, hosts have to take into account the wear and tear of furniture that they have invested quite a bit in, taxes, bills like electricity, water, etc. Therefore an extremely cheap order can amount to a loss and it is important to pay attention to this.
9. More assets - less headache- Yes, what you heard (or, read). When there is one asset - you do not stop investing in it. Think what is missing, what else can be changed, you answer each guest alone (existing / potential). When there are more assets, you manage everything from above at the macro level, put in automation systems that make it easier for you, make concentrated purchases in savings packages for such and other products that you need. Strive to manage as many properties as possible at the same time.
10. Hosting is done with love or not at all- Obviously money motivates us and plays a very important role in the operation, but as I already wrote in one of the previous posts - whoever is not built to take on the title "host" - will find something else to do with his property. We are in a business that is mostly built on reviews, and whoever does not maintain a high rating> will not get enough orders> will not really make a profit. That is why it is very important to get into this business knowing that we are not just realtors, we are hoteliers.
This is friends, hope I was able to give you a satisfying glimpse into the amazing world called "Vacation Property Management" / "Short Term Rentals". If even one of you was inspired by me and decided to enter the field I for my part did my part ??
I recently launched a digital course where I teach everything I know about the Airbnb platform, and anyone who watches all of their classes in the right way to be an outstanding and profitable host! The course is suitable for those who take their first steps in the field and also for those who already work in the field but want to deepen the knowledge and specialize.
Especially for you, the course is now available at a special discount - only NIS 750 (instead of NIS 1,200).
Just before I finish, I want to thank you for being with me this week and for the team managers for the exciting opportunity.
I had the pleasure, hope you guys too!
Thanks again and a pleasant weekend to all of us,
Eliran
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