Quote from @Chad Hack:
Hi again, BP! We are launching our first STR in Florida. I have listened to BP for 3 years so I am armed with the minutia of optimization of a rental business itself! However, to my naive surprise, the absolute very basic headaches I have faced with the VRBO and AirBnB websites are astonishing. I've spent hours on helplines and watched hours of YouTube videos to no avail. We have the content no problem. The photos no problem. The amenities no problem. Here is where we are struggling:
1. How do we turn on "dynamic pricing" on VRBO? Eventually, I will use Price Labs, but I want to launch with basics. I can only change Base Rate. Is that what they mean by dynamic? If I say $300 base rate, my calendar simply says $300 every day of the year. Hardly dynamic.
2. Does anyone use the Guidebooks offered by both sites, or do you develop your own 3rd party guidebook (e-book), and simply link to it?
3. What about a Welcome Letter or Rental Agreement? Where to find templates for this? I want to automate as much as possible while keeping a personal touch.
4. If anyone knows of a good follow explaining these basic steps, I'd love to hear about it. Neither helpline has been of much value. I'm surprised both booking sites do not have their own useful tutorials guiding owners from start to finish. I know millions of others have figured this stuff out so I'm feeling pretty defeated at the moment. I never thought simply listing the property would be the hangup. Thanks for your help and support as always.
Congrats on the first place!
1. Use a dynamic pricing tool like Pricelabs. You will be surprised at how much more you will make.
2. IMO, physical guide books are a thing of the past. This is something old fashion property management does. Use a digital guide like Touch Stay. You can pack so much info in there. The physical one just get dirty and tattered.
3. Rental agreements use sign now and it makes it super easy.
4. I would recommend reading Short Term Rental Long Term Wealth. This book has everything you need to know about STR covered in it.
When my husband and I got started we used The Short Term Shop and they taught us everything about self management! Loved them so much, I joined their team.
