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Note: Thanks to @ToonTownRob for posting this mini-revelation about the power of starting your email responses with a twist. It inspired this week's Motivation (and I decided to record it in podcast form too below).
Listing sites like Airbnb and Vrbo rank as the top pound-for-pound allocation of your time to generate inquiries. All the various listing sites make up Stage 1 of Listing Site Independence...
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Latest reply by - Sallie
#3 from the Guest point of view.
We wanted to rent a dog-friendly house in a specific beach community for three months during winter 2023. We're two adults and two golden retrievers. I first looked for local rental agencies and found...
- Founder, VRMB
In this episode Matt sits down with Kirsten King of Big Sky Vacation Rentals for some big takeaways on building and ultimately selling a supremely profitable and sustainable vacation rental business.
This episode is brought to you by Point Central, the leaders in smart home automation, and Breezeway, the best in class property care and automations platform.
I use the term "lifestyle brand" to describe a vacation rental business whose marketing leads not with the property, but the vibes (or lifestyle) guests experience when staying there. You can immediately feel a lifestyle vacation rental brand when you come in contact with it.
For instance, @Kristi and Starship Landing Retreat. The property itself is still there. But it's not the centerpiece of the photography...
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Latest reply by - Will Franco
We enjoyed the atmosphere and provenance of the cabin itself, but most notable (aside from the gorgeous hill country views) was the...
Are you wondering if making your VR business more environmentally sustainable is relevant to you? then take a look at these two statistics from Booking.com 2019 Sustainable Travel Report
73% of global travellers intending to stay at least once in an eco-friendly or green...
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Latest reply by - Tarkan and Julia
Thanks so much for this Bob. We need to work harder on it and it’s very helpful to see all these suggestions in one place.
- Founder, VRMB
Updated Oct 19, 2023
I think this will be a watershed year for vacation rental conferences, so I'm encouraging any member who wants to up their game with some advice around the most common questions I get!
Drop your fav conference into comments for other members...as well as what kind of attendee would be a good fit!
Note: We've also begun hosting a series of private events ourselves called "Keystone Retreats"...
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Latest reply by - StacyW
This year as we head into conferences I am going to make a list of needs, must haves, and who to find. When you get to conferences especially bigger ones it can...
- Founder, VRMB
After running my vacation rental business for 7 years, I burned out.
The fun, excitement, and focus from my "start-up" days had faded.
I was no longer passionate about the hospitality, which we always considered our greatest virtue.
And after coming to grips with that fact, I sold the business.
Part of me attributed the "burn out" to simply working 24/7 for 7 years. Gene Marks, author of The Small Business...
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Latest reply by - ROster
Rick, sometimes good enough is good enough. Please don't pressure yourself to do more. We know you strive for excellence, and would never coast. Give yourself permission to devote time to enjoying your life.
The first year I worked as a divemaster at a...
- Founder, VRMB
(OK so I apologize about the title: it's something that early-marketer-Matt would have written. But I couldn't resist the cheesy sensationalization on this technique because it's worth the hype.)
If there was one technique that I wish more owners and managers would try, it's talking head video.
Talking head video is you: in front of webcam: saying something meaningful to your guests. It's like a voicemail but...
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Latest reply by
- Matt Landau
@Matt Landau - Well, heck seems like me, Google, and Youtube will be holding our own classes?
Yes, I was a little disappointed but I think it's a direct sign that plenty of people have too...
- Founder, VRMB
Our industry is at a pivotal juncture.
Vacation rental demand at all-time high means...
New owners & managers need guidance and...
Guests need training or else...
Unrealistic expectations produce...
Bad actors who...
Tarnish the craft and contribute to unfair regulation in your region
Until our diverse community can agree on a common definition of "what makes us professional" -- our independence resembles not a...
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Latest reply by
- Sallie
When I started using our house as a vacation rental I was told at the get-go: Everything you put into this house must be considered as disposable inventory.
If it will...
I am currently visiting @Godfrey in Sun Valley, Idaho where the supply of vacation rental properties is so limited (and the demand for this destination so great) that property owners and managers need to be extra intentional about how they spend their time. To a degree, I think this focus is increasingly playing out across the world.
Every activity falls somewhere on the profit spectrum, but which activities...
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Latest reply by - Catherine
Here's a full interview so you can understand better:
Thanks, as always, Matt! 👌
- Founder, VRMB
Niches are the next big thing in vacation rentals.
They are the essence of Theory of Limited Edition: that if you do the things only/inimitably YOU, that no bigger/richer company can ever compete.
Special interest and geographic niches possess significant profit: they are not scalable: and they tend to be more intimate than the big box managers... therefore less hazardous to communities.
If you are an...
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Latest reply by - DMartinez
A surprising spike in a keyword search bump was noticed today for my website -with thanks to a blog post I wrote a while ago about a potential niche that never really came to be...but COULD be if...
This post is about newsletters: the single best way to stay in touch with former guests, generate new referrals, and keep your business brain sharpened and focused.
I am something of a newsletter nerd. I sign up to receive newsletters (and assess them), I've spent every week for the last 5 years sending out VRMB's weekly newsletter, and prior to that, I spent a solid 5 years sending out one for my vacation...
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Latest reply by
- Matt Landau
Some added thoughts...
Commit: if you don't commit to sending out emails to former guests regularly, when you do actually send them out, it will appear too isolated and needy. Email marketing is a nurture marketing tool -- to earn trust and respect -- so commit to...
- Founder, VRMB
Upon just visiting @Debi @MichelleR @Megan C @Matthew and @BrianO in Oregon, I have settled on fresh local coffee as one of the lowest-hanging Limited Edition welcome gifts you can invest in.
Consider approaching a local coffee shop about a partnership for the following reasons:
Function: More than 50% of adults (ie. someone in almost every stay) will otherwise need to go out and buy coffee anyway.
Fit...
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Latest reply by - Bruce
I tried reaching out to a local roaster but the smallest bags they produce is 1/2 pound - way too much for a weekend stay for a 2...
- Founder, VRMB
Last week we talked about the actives that generate the most profit for vacation rental entrepreneurs. If you haven’t checked back recently, this thread has become filled with some really brilliant new perspectives.
And this week we turn focus to guests in asking, “how do we cultivate moments of engagement?”
"Moments of engagement” is one way of thinking about those special interactions in which you win over...
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Latest reply by
- Will Franco
This is one of the tactics that, if you do it consistently, WILL increase your conversion rate by double digits guaranteed. @Will Franco would you mind sharing that guide on how to do your "digital handshake" best?
@Matt...
- Founder, VRMB
***UPDATED NOVEMBER 2, 2021***
I’m departing the last few conferences with a lot to report back. My theme for this conference season is “first mover status” because that’s what all the attendees (advanced owners and managers) seem to be enjoying as a result of their choices and hard work. I've come to think of first-mover vacation rental leaders as "quintessential waveriders" who, with the right positioning and...
Disclaimer: I am directly swiping this from @StaySavvy of https://www.savvytravels.co/ who (as far as I know) invented the phrase and explained it on our Accelerator call last night.
A walk-through is a protocol typically performed before (and sometimes after) a guest checks-in in which a knowledgable team member ensures that all other standard operating procedures (housekeeping, maintenance, and staging) have...
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Latest reply by - ShariT
We do this with every property we onboard. Most of our homes have been through a major renovation and as much as we would like, we can't depend on the General Contractor to test everything.
Not only does it give our staff intimate knowledge of the home firsthand, we are...
IDEA: Any vacation rental property can be made more “limited edition” with the introduction of a landmark feature: a structural, decorative, or recreational aspect of the home’s offering that is unique (in your competitive set), photogenic (for promotional purposes), and perhaps most importantly enjoyable for new and repeat guests.
ACTION: Ask yourself any of the following questions...
Are there any homes in...
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Latest reply by
- Matt Landau
Came across this Airbnb with a big swing front and center: https://www.airbnb.com/rooms/28105905?guests=1&adults=1&s=67&unique_share_id=3d6a85a3-81ac-4d55-bdc6-213307c09a2b
Wonderful example of a Landmark Feature.
- Founder, VRMB
Hey @EBadia -- what do you think about the word “boutique” to describe what makes vacation rental companies great? Used in all of our marketing materials and in our day-to-day, could "boutique" successfully convey what makes vacation rental companies great in ways that other words (we've come up with) can not?
Side Note: For those of you who haven't listened, Evelyn and I are on a mission to define the word...
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Latest reply by - Debi
I added the word "boutique" to my listing title on Airbnb when this thread first came out. My summer is filled. However, Airbnb has recently ELIMINATED titles in their listing search. I understand this is a new AI standard for them. Now, when searching you will see "cottage in Seal Rock"...
- Founder, VRMB
Chances are, you aren't getting enough distance from your business.
The upside to being in the trenches is the personal payoff (the 5-star review, sense of purpose, an especially great paycheck). The risk is fatigue. Fatigue + control freaks = a dangerously unstable operation. ESPECIALLY unstable in a hospitality environment that depends on human connection.
ACTION: Take vacation in order to make vacations...
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Latest reply by - SScurlock
I have taken your advice and trained one of my sons that also lives on the farm on running my short-term rental business. I am...
My mother is a brain scientist who has earned an incredible array of accolades over the last few decades. Becoming a scientist wasn't common for women in her generation so (with the help of great mentors) she chose to blaze her own trail.
My father was a shopkeeper whose family business served as a keystone to the community of Princeton, New Jersey his entire adult life (he has since retired and the shop...
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Latest reply by - AFirmani
From the young age of two, my family begin hosting exchange students from all over the world. My mom was a HS teacher and my father was the friendliest human you...
- Founder, VRMB
Back in 2009, with the listing sites (and our category in general) starting to gain momentum, the members of this community and myself predicted that "listing site independence" (ie. marketing diversification for vacation rental pros) would be the north star to follow. In the years that followed, plenty of direct booking movements spawned and a legitimate trend was formed.
The theory of "Limited Edition" was...
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Latest reply by
- StacyW
We are reading the book as a company and have our first meeting this Friday to discuss the first 8 Chapters! We will discuss what it means to deliver Unreasonable Hospitality at every level of our business. We are also doing a complete overhaul of our entire messaging to guests. I put...
- Founder, VRMB
In the post-pandemic travel landscape, the professional vacation rental sector is one of the best positioned to flourish. And as vacation rental professionals, we seek trends to invest in today that will reward us over time. How our guests, properties, and business practices interact with the environment sits at the very top of that list.
VRMB Declares a Climate Emergency
We’ve signed up to Tourism Declares, an...
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Latest reply by
- DMartinez
FYI- For those of you who have joined the Tourism Community focusing on Climate Change (whether officially through the Tourism Declares or via your own initiatives):
Survey on The Future of Natural Resource Governance
You may be interested in...
This thread is for the general discussion of the Article Contrarian Perspective: Is there a VR Industry Bubble?.
If you're a vacation rental nerd like me, you probably follow every media site, blog (like VRMB!), Facebook group, etc. just to glean what you can about our...
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Latest reply by
- Matt Landau
I wanted to revisit this discussion as it appears to me that we have definitely "burst" or at least is not thriving like the post-pandemic boom and has returned...
- Founder, VRMB
Disclaimer: This may sound stupid simple but it really works. I recommend you try.
IDEA
To solve a fellow VRMB Community member's very important messaging question, we recently spent $700 for one hour with a copywriting consultant. Yes, this is a huge amount of money. But I had been following this particular expert for many years, have listened to every one of his podcasts, admire his expertise and business...
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Latest reply by - jlynnmoscrip
As usual, right on target @Matt Landau. Yes: I was worried about telling guests the same thing in an email and on my website but it works! Absolutely key: repeat, repeat, repeat!
Here’s a...
- Founder, VRMB
Have you ever come across a product whose presentation is on point?
Whoever put together the photos, copywriting, design was "on their game" or "looking sharp" in that it subliminally sucked you in and persuaded you to buy?
Finca Victoria is a farmhouse style B&B on the small island of Vieques, Puerto Rico, and every vacation rental professional can take something away from their website...
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Latest reply by - ToonTownRob
Does it have to be an either/or? Can't a website be everything you talk about, and still have great SEO?
- Founder, VRMB
IDEA
Last weekend, I met a woman who rents out the studio above her garage and despite having ZERO other marketing, this woman is so insanely dialed in.
There are no better words to describe the professionalism of an owner or manager than being 'dialed in.'
The level of thought this woman puts into her hosting was more 'dialed in' than many property managers I've seen.
Hand-written welcome notes, fresh limes...
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Latest reply by
- Catherine
Yes, to everyone's comments. Since I started allowing dogs, I find dog-owners less "entitled".
I finally got my 1st REAL direct booking from a family plus Fido, and they raved...
- Founder, VRMB
UPDATED December 8, 2022
A while back I posted a trend I was calling "The Falling Tide" -- the commentary from members on this metaphor is super insightful and as a result...
I have revised my metaphor: instead of a falling tide in 2023, I think of it a big shake-out.
A big shake-out comes when a wave of hype exceeds the realities of demand (in our case, guests looking for a reliable place to stay).
Do you...
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Latest reply by - JanS
HI @Matt Landau, I have definitely been noticing a falling tide in my own little micro-market and had been wondering if it was broader than that, so this was a very timely topic for me.
I think we...
Once you've come to grips with the fact that few employees will likely ever have the same level of passion or commitment that you do, you turn to the next best thing:
"How can I best incentivize them to reach their full potential and KEEP them at my business?"
I wanted to start a thread of some great ideas I've learned in the last few weeks of attending conferences, with the hope that YOU can jump in and...
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Latest reply by - MPerkins
We profit share with everyone in the office and offer holiday bonuses, great health benefits, sick and vacation time and all the usual good stuff PLUS...
- Founder, VRMB
Our special industry deserves it's own special metrics (and vocabulary).
“We cannot improve what we cannot measure," is a popular small business mantra because it gives everyone on the team common metrics or benchmarks to measure.
Occupancy, revenue per property, profit per property…etc. These popular metrics connect directly to your profit line (the single most important metric of all!) and if you’re not...
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Latest reply by
- DMartinez
Hmm🤔... to be filed under Memories Made gone viral?
Metric: the number of times your appliances have been RickRolled?
Time to update the use of appliances clause in our booking contract.
https://www.tiktok.com/@kurtschneider/video/6956395846460001541
See also...
- Founder, VRMB
Limited edition management recommends emphasizing your one-of-a-kind virtues -- family owned/operated, locally based/headquartered, and specialized in a property type or location -- to create a moat of defense from competing vacation rental offerings. Some activities DO scale (and can be automated or done en mass). But I keep coming back to the word "Unscalable" as not just a good thing (for independents) but...
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Latest reply by - davidliedl
Thanks for asking @davidliedl
Here is a link to the housekeeping checklist (scroll down to the bottom)...
- Founder, VRMB
Note: I first heard @AmyH mention this in an interview and I text messaged her and said, "Can I draw this out?" I then shared with @Christina and over the course of what feels like MONTHS of Christina telling me all the additional things that could be done with the model, she agreed to let me post :ROFLMAO:
Challenge for Community Members: Because we're such a new industry, it's hard to understand where each...
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Latest reply by - Nancy
I think I missed the context of the original post. I didn't hear the interview you are referencing.
It's about Supply Chain right?
That all starts with the...
- Founder, VRMB
In my obsessive pursuit to identify parallel industries that vacation rental owners and managers can learn from, I've found myself especially intrigued with craft beer.
This is due in part to the fact that research tastes delicious. But it's also due to the last 10 years. In the face of consolidation and corporate goliaths, something strange and extraordinary has happened: the independent craft brewers have not...
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Latest reply by
- Matt Landau
Wanted to share the interview with Bob Pease here very insightful:
https://www.vrmb.com/bob-pease-brewers-association/
- Founder, VRMB
From Phocuswright's STR study Through The Roof, 87% of travelers agreed or strongly agreed that they actively seek out properties with an interesting look and feel. "Character" was not a make it or break it moment of the conversion -- but definitely a big appeal.
Character is where a huge new wave of vacation rental entrepreneurs are investing: tree houses, tents, themed homes...etc.
So I wanted to start a...
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Latest reply by
- ToonTownRob
@RuthM recently shared this article with me
"Why You’ll Be 750x Better Off Running An Airbnb Than A Vacation...
Welcome to VRMB!
I’m Matt Landau, the founder of this forum. It was created in 2016 when a group of us wanted a safe space to discuss our growing STR businesses.
Today, you can join our community of 1,000+ creative, thoughtful, and generous members who believe in a better future.
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