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- Founder, VRMB
To me, there's something a little awkward about addressing the topics of bad guests (smoke, noise, parties) so bluntly.
It's like, these are real problems, and you shouldn't do them, wink wink.
I kinda like it. But not sure. Thoughts?
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Latest reply by - ToonTownRob
After some time for it to sink (there’s a pun there… get it?) in, I think the message of this ad is ‘cool’. As in, I can rent Scottie Pippin’s house? Cool! Look how you can throw baskets from the...
- Founder, VRMB
I'm currently in the process of purchasing the townhouse I have rented since moving to South Beach, Miami in 2020.
Back then, I wrote this article about moving to the epicenter of the pandemic and I should really write an update soon.
But purchasing this townhouse is lowkey a pretty big deal for me personally:
My first home: decades of entrepreneurship and carving my path capitalized!
But it's also causing...
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Latest reply by - RuthM
First of all, congratulations! A new purchase is always worth celebrating! Next, I absolutely agree with...
- Founder, VRMB
I’ve always been inspired by small business owners. Specifically, those who have used small business to create a lifestyle that fulfills.
Cajun Claws, for instance. A small crawfish restaurant in Abbeville, Louisiana, which seats a total of about 30 tables per evening. After waiting in line for several hours, I eventually get seated in what more resembled my grandmas living room and served by what was actually...
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Latest reply by - KarenB
I see the main commonality is they made their "customers" feel special and appreciated. It is hard to reach everyone that comes thru our...
- Founder, VRMB
Here's some thoughts on this commercial....
What are your thoughts?
Link
Netflix: World's Greatest Vacation Rentals Show Hot-take
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Latest reply by - lisafrank
A few thoughts…
While it's really great and sexy to feature bmw, cadillac and porche properties, most people are driving Toyotas and...
- Founder, VRMB
Warning: What I am about to share with you holds little weight in a formal business setting. It's not something my professors ever covered in business class. It never shows up on the profit loss statements at the end of the month. You won't find it in any formal contract and it's certainly never mentioned at "Disruptive" tech summits or conferences. And yet it might be our greatest secret weapon of all.
When I...
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Latest reply by - MeganM
Megan, How is the diffuser received? I love one in my own home, but am concerned that tastes vary so much...
- Founder, VRMB
"Move fast and break things" (aka. MFABT for the remainder of this post) was originally coined by Mark Zuckerberg for his internal Facebook team regarding design and management. But it has since become a catchphrase for how many start-ups and entrepreneurs think about "disruptive" technology. More is better. Dominate at all costs. Worry about lines and red tape and protocol later. We'll address later what got...
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Latest reply by - AndyM
As small business Owners with limited resources our default operations are Move Slow and Fix Things. That being said I wish I had a magic wand and could...
- Founder, VRMB
Only after publishing this week's Unlocked Interview with Eric Broughton of InhabitIQ -- who is buying up various property management software companies -- have I (finally) come to (fully) understand the (irreversible) way our cottage industry is evolving:
Starts out fragmented = large number of small players
As popularity grows, a smaller number of larger players begin to consolidate the fragmentedness
They do...
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Latest reply by - Karla
Two chairs @Matt Landau, what a great find. I have thought about those two chairs. What if you had found only a single chair? Would you have taken only one chair anyhow? A single...
- Founder, VRMB
While editing next week's Unlocked interview with Theo Kracke (who sued the City of Santa Barbara for the right to operate short term rentals -- and won) I learned a neat trick that Theo uses to get the owners (of the properties he manages) to contribute money to the fair regulation fight. Listen to this...
"The Presumptive Close" is when you intentionally assume that the prospect has already agreed, and wrap...
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Latest reply by
- Karla
SScurlock, thank you so much! I think I’ll condense my Presumptive Close to one simple gesture: The person who makes the reservation will be given a one year membership ($30) to Friends of the Park, easy peasy but now I need to decide whether to: a) mail...
Hello community members, I'm sharing with you my big trend for independent owners and managers in 2022, along with links to all mentioned resources below.
Please use the thread below to share any trends you believe are worth doubling down on...
Resources Mentioned:
Vacasa has gone public [Skift]
Matt Roberts on Unlocked
Carl Shepherd on Unlocked
The Agile Approach PDF
Keystone Awards (software suggestions)...
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Latest reply by - JanS
In Vacasa's quest for more more more properties, they are going to run smack into the regulatory issues we are all struggling with. I'm waiting to see what they will do. Will they...
- Founder, VRMB
Over the last five years, I’ve had the pleasure of meeting many of you around the world — sometimes only for a few minutes after a presentation, other times at length over meals, walks, car rides..etc.
And although our industry is so diverse and all our businesses goals so unique, I began to notice a pattern about your businesses (no matter the size/age/location) when compared to others in our industry. Some may...
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Latest reply by - Crafty
A suggestion re. the idea of Golden Ratio calculation: simplify it by calling it Earned-to-Bought index of revenue. Where "Earned revenue" is from bookings where the host paid no commission to any third party platform. "Bought revenue" is bookings...
- Founder, VRMB
As children, we’re told not to be picky.
"Don’t be a picky eater."
"It’s only a summer job, don’t be so picky."
As we enter adulthood, being picky starts to be a good thing.
"Be picky with your accountant."
"Be picky when choosing your spouse."
And as vacation rental pros in this unprecedented moment, being picky isn’t just recommended. It’s a requirement.
Let me tell you why…
To those observing our...
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Latest reply by - ShariT
As children, we’re told not to be picky.
"Don’t be a picky eater."
"It’s only a summer job, don’t be so picky."
As we enter adulthood, being picky starts to be a good...
- Founder, VRMB
OLD BAY is a limited edition brand that we can emulate.
It is valuable, it is authentic, and it is niche!
What started as a family-owned, locally-headquartered, and specialized spice eventually got acquired in 1990 by McCormick Spice Company (adding to its portfolio alongside brands like Lawry’s, Simply Asia, Thai Kitchen, and Zatarain’s -- which should underscore the VALUE of any niche spice brand when it...
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Latest reply by
- RuthM
I really love the quick "limited edition" backstory on the back of every box:
"Our unique blend of 18 herbs and spices was born in the Chesapeake Bay area in 1939. It has been made the same way ever...
I had a guest who had booked us through VRBO a few years ago, had a great time, left a great review. They then rebooked the same way 5 years later. It dinged my ego :confused: . I worried if they didn't trust us. Turns out they didn't realize they could have booked directly...
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Latest reply by - Sherry
With online agencies like AirBnB and VRBO dominating the vacation rental space, owners trying to develop...
- Founder, VRMB
Hospitality is one of the few sectors that customers touch, feel, experience, walk-into.
Which makes us hyper-connected to our local communities.
(We should really have a code of ethics, but I digress)
And hyper-connected means disruptive: for better and for worse.
Good disruption: guests spark the local economy, managers/hosts are closely tied to local causes and issues, business contributes as much (if not...
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Latest reply by - Curated Stays
I posted this recently in a local FB STR group.
Advocating for Short-Term Rentals: Keeping a Good Local Reputation
The...
- Founder, VRMB
This past weekend I had dinner with a cornucopia of business professionals.
At the table sat a video game software developer, a painter, a special education teacher, an intellectual property rights lawyer (who also happens to be my upstairs neighbor), and a shrimp broker (who literally sells fresh Louisiana shrimp to restaurants around town).
And when it was my turn to introduce myself, someone leads in like...
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Latest reply by - CJ Devries
Great stuff here! I've always known professional photography to be of utmost importance as it has been my families' business for well over 100 years (excepting the picture to the left as we opted for a more informal shot for this forum). We have received great feedback for this on our site as...
- Founder, VRMB
From last week's discussion about marketing the word "boutique" (which has evolved like a beautiful living document 🌱) I was inspired to share a lesson I learned from a $795/hour copywriter.
Tell ‘Em What You’re Going To Tell ‘Em
Next, Tell ‘Em
Next, Tell ‘Em What You Told ‘Em
OK so this isn't the exact lesson (it's famous advice for public speaking presenters) BUT it communicates the lesson from the...
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Latest reply by
- Karla
I wonder if it's part of this concept that relates to the ubiquitous emails I get wanting to redo, refresh and re-polish my website or engage in google analytics at a...
- Founder, VRMB
IDEA: One single piece of management software sits at the core of all great vacation rental businesses. From 1 property to 1,000, put lightly, the right property management software can help grow your business. In stronger terms, you simply cannot grow your business to its full potential without one.
However, because different PMS softwares do so many different things, it is very easy to make the mistake of...
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Latest reply by - RichardC
We have found a problem with support. Our business in one timezone and our HQ in another. The tools we use now are...
- Founder, VRMB
This week's podcast interview features Graham Donoghue of Sykes Cottages which is the largest profitable vacation rental manager that I am aware of in the world. If you haven't listened to the episode, I would encourage you to do so here:
Graham references "the House Model" a few times and I asked him if I could share the diagram with our community. It is quite simply one of the most beautiful things I have...
- Founder, VRMB
A robust all-in-one PMS solution doesn't really exist for smaller operators. But new tools are popping up with some innovative alternatives. This is an excerpt from VRMB's 2023 Trends Report: The Roadmap.
For years I’ve referred to those who don’t view STR hospitality as a business (but rather a hobby or side gig) as “Lifestylists.” Lifestylists typically hold down separate jobs, rent for the cashflow, and use...
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Latest reply by - Terry
Hi Terri,
Maybe I'm misinterpreting what you're saying...but I'm pretty sure I'm one of these 'lifestyle' operators. I own a...
- Founder, VRMB
Sarah Bradford (of Sarah & Tim fame) recently shared with me I Illustrated National Parks In America Based On Their Worst Review And I Hope They Will Make You Laugh.
I'm an illustrator and I have always had a personal goal to draw all 62 US National Parks, but I wanted to find a unique twist for these poster designs. When I found that there are one-star reviews for every single park, the idea for Subpar Parks...
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Latest reply by
- Karla
I have been thinking about this recently on a "review" level, based on reading about this Chinese...
- Founder, VRMB
IDEA: If you want guests to actually read what you write, make it pleasing to the eye.
ACTION: I challenge you to use these four rules in all of your writing for the next week. If you're like me, once you start doing it, you will never look at text the same way again.
Keep your paragraphs short (2-3 sentences max)
Bold the important words or phrases or headers or titles
List things using bullets
Use numbers...
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Latest reply by
- RuthM
@Matt Landau I think this might be the MOST powerful thing you can share with us. WHAT and HOW to...
- Founder, VRMB
I recently came across this quote (above) and realized how many of the most successful vacation rental pros I know are masters of leverage AND how many of the most knowledgable vacation rental pros I know could use leverage in fun new ways to thrive (however they may define that).
So I wanted to begin a thread about using subject matter expertise as a "force multiplier" -- giving members the potential to lift...
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Latest reply by - TeenaNH
Happy almost Independence Day everyone,
First of all - I had to look up the word leverage as it pertained to business.
Verb
Leverage: use (something) to maximum advantage.
"the organization...
- Founder, VRMB
Setting and meeting a guest's expectations is an essential factor in any hospitality marketing campaign. After all, if you don't set and meet expectations (no matter how spiffy your direct booking funnel) there's no repeat or referral stays.
And I don't think I've ever come across a question that sets the tone for the booking and stay process quite as well as the following:
"What's the purpose of your visit?"...
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Latest reply by
- RichardC
We tend to direct guests to our FAQ’s page and a link to our home page, but we follow up with the comment. If you can’t find what you’re looking for please get in touch and we’ll do our best to help. Directing people to our FAQs page does...
- Founder, VRMB
Five years ago, one of my favorite online business leaders (and actually the inspiration for VRMB Communities!) James Schramko published what became his signature marketing strategy, Own The Racecourse.
The general gist...
Your business is a racehorse.
The platform atop which it generates sales is a racecourse.
Until you own the racecourse, your racehorse is forever competing on someone else's track.
Own the...
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Latest reply by - Christina
and, if it is free (except for your time), you might be the product
- Founder, VRMB
[Note to Self: "Tuesday Afternoon Motivation" doesn't sound nearly as good as "Monday Morning Motivation.]
Think Differently
Today Inspirato announced a new "netflix-style" travel service offering travelers unlimited access to 60,000 Luxury Villas and Resorts around the world for $2500/month. No extra taxes or fees. Just $2500/month for unlimited stays in luxe villas and five-star hotels with no nightly fees...
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Latest reply by - JPrugh
According to the Inspirato website, their board of directors includes the founders and some venture capitalists, of course. Meanwhile feel free to peruse their online magazine...
- Founder, VRMB
My friend Molly is on vacation in India and shared with me how hospitable everyone is: how strangers were so generous and welcoming with food; how everyone refers to her as Miss and Madame; how she felt like royalty and soon discovered the Sanskrit phrase:
Atithi Devo Bhava which translates as "The Guest is God."
Note: You can read more about this 'code of conduct' here.
In our world, many argue a mantra that...
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Latest reply by - DMartinez
I suggest each owner or property manager needs a MISSION to drive their business that makes sense for their goals with 2...
- Founder, VRMB
This week's tip is inspired by our interview with @ambercarpenter of DemandIQ (full interview below). It is aimed at anyone who has a website and a basic property management software.
"Unconstrained demand" is the traveler demand for your vacation rental property(s) without the constraints of availability or rate rules. Including beyond 100% occupancy. Your 'unconstrained demand' for nights is much greater...
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Latest reply by - Robin
Unconstrained demand! What a great concept and such an intelligent way to view the opportunity that is out there for vacation rentals. The podcast is a must-listen-to and will open your mind to new possibilities as we try to...
- Founder, VRMB
Good property names stand out and inspire.
Even cooler, good property names drive repeat and referral bookings!
But bad property names disappear from our memories the moment we depart.
Settling on great property names is tricky.
I am recently going through this process with @MeganM about her new property in Cocoa Beach, FL.
It's located on the Space Coast where Megan grew up (she had friends whose...
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Latest reply by
- Sherry
Whatever you do pick something that is easy to spell and easy to pronounce. Our property name is a marketing blunder. The name...
- Lindsborg Vacation Rentals
I just agreed to lease one of our long-term extended-stay rentals to a local family who live about a one-minute walk away from Skönhuset (Swedish for "the nice house"). Our neighbor's son is terminally ill with four to eight weeks to live. Hospice (and a hospital bed) will be...
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Latest reply by
- Matt Landau
This week's discussion thread is perhaps more validation than motivation.
On the heels of my friend Leyla's passing this week, I found myself reflecting on how often it is vacations together with friends/family...
- Founder, VRMB
I recently came across a scene from 'Sense of Place' Blue Ridge that I wanted to share because I know a lot of our members are thinking about staffing and team building.
When I asked @CJ how he plans to grow, he says, "I'm going to invest in people."
Watch it first...
Investing in your people is one of the most impactful ways to allocate funds as a modern day vacation rental professional.
If demands of the...
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Latest reply by - SScurlock
Here's the full episode in case anyone wants to see me jump off an abandoned boat after drinking moonshine:
@Matt Landau this is my favorite Sense of Place! I laughed out loud several times at your antics - especially...
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.
Spotlight
Discover "Unlocked: The Intermission" - a captivating 6-part podcast series featuring the individuals who have shaped Matt Landau's horseradish in the past 6 months.