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Hey Inner Circle, Happy Friday!
It's not midweek but this section seems an appropriate spot for this to land.
There are lots of inspiring people out there (thank you Matt!) and I’m sure you have your own personal list. Rich Roll is on mine. He has an amazing story and a...
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Latest reply by - Matt Landau
Wow, really love this sentiment.
The methodical nature of working focused and persistently for...
- Founder, VRMB
In this special edition, we're airing a favorite episode from the Sarah & T podcast. Sarah and Tim are good friends and their show is a must listen for anyone in the industry. This week, they take a hilarious look at 6 key components to a successful welcome of your guests.
- Founder, VRMB
What is "enough" for your vacation rental business?
In this short thread, I'll argue why your ability to answer that question is synonymous with your keys to the vacation rental kingdom.
(And oppositely why, if you can't give an answer, you're missing out on perhaps our industry's greatest sweet spot for independent vacation rental entrepreneurs.)
In Spanish the word is "Bastante." Ya basta!
Or "suficiente."...
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Latest reply by - HeatherB
I have copied and pasted these action items into a document for me to review as often as I need to. We...
- Founder, VRMB
Eric Broughton is the Chief Strategy officer of Inhabit IQ, which owns a number of vacation rental service providers and has frankly not always had the most forthcoming reputation in the vacation rental industry.
In his defense, Eric wasn’t in his position in those early days, he’s relatively new, so this conversation was originally designed to clear up some of the air.
But as you’ll hear, Eric has a very...
- Founder, VRMB
I love receiving notes from VRMB Community members and yesterday I got this one from long-time member and colleague, @JVozel:
It's getting more difficult as the industry grows to incorporate more facets (to our businesses).
Including bad actors who are not a net-positive to their environments.
The challenge is to keep up our ethos in the face of these sea-changes...I'm really working to figure out how to do...
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Latest reply by - Eric Thibodeaux
I remember reading this when it first came out. I wanted to think about it, as my response is hopefully thought provoking for you, your business and our industry. I enjoyed reading, reviewing and...
- Founder, VRMB
@AlexC is the Founder of Welcome Home Club, a vacation a vacation rental management company in San Antonio, Texas.
He's one of the more survival-oriented managers we’ve interviewed.
His background in the Military and working with Fortune 500 companies, give him a deep understanding of how things work, how things should work, and the conditions for when things fail and how to avoid these conditions with...
- Founder, VRMB
@LindaS is one of our vacation rental heroines. She has one of the clearest, fiercest understandings of what she likes: and it just so happens to be what guests are willing to pay good money for: AND what homeowners and desperate to align themselves with.
But here’s the rub: Linda’s expertise is not glamorous: her solutions aren’t cookie-cutter.
So when Great Vacation Retreats, the company Linda helped grow...
- Founder, VRMB
As part of our divergent thinking series, Matt sits down this week with Bob Pease, President of the Brewer's Association. The extraordinary success of the craft beer industry in the last several decades provides real insight into how vacation rental professionals can band together to achieve a host of goals.
- 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...
- Founder, VRMB
In this episode, Matt sits down with Michelle Hodges of Meyer Vacation Rentals to discuss building on the legacy of a family enterprise and finding creative solutions to the massive staffing problems of a seasonal business.
Michelle Hodges is the President of Meyer Vacation Rentals on Florida and Alabama’s Gulf Coast. And when she speaks, it’s like generations of vacation rental experience are talking to you...
- Founder, VRMB
I'd welcome any member opinions (make a video hot take!!!) below...
Ps. here's a link to our Bali episode.
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Latest reply by - JPrugh
@lisafrank I agree with your assessment of the "World's Most Amazing" in that 1) they're really NOT the world's most amazing and 2) the hosts were...
- Founder, VRMB
Lane is the CEO of Cleancio, vacation rental cleaning on demand. Is among the top subject matter experts in the vacation rental sector. She started off with a problem like a lot of us: figuring out a consistent cleaning solution to her and her husband’s vacation rental properties.
But unlike a lot of us, that problem turned into an opportunity for Rocio, as she went way down the housekeeping rabbit hole, peeling...
- Founder, VRMB
This week's motivation is a hat-tip to @ToonTownRob who introduced us to the concept in this thread: Remodel nearly done. Now need a Logo
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IDEA
A wordmark is a text-only typographic treatment of the name of a business (or vacation rental property) used for purposes of identification and branding.
It is different from a logo, which is usually shapes, symbols, icons, badges...etc.
Because a...
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Latest reply by
- Matt Landau
We struggle with the individual name aspect as we have 80 plus homes. At what point is it a hinderance to add names to your properties and should focus more on the branding of your business name. We just had a manager's meeting and decided we want to branch out to other areas, but want to...
- Founder, VRMB
As a way to offset some of the unprecedented hype our vacation rental sector is experiencing, Season 7 of the Unlocked Podcast is going against the grain...pulling back the curtain...taking off the rose-colored glasses...and revealing HOW the vacation rental SAUSAGE is made.
The theme of the season: Unglamorous!
Running a vacation rental company is not sexy. It's unpredictable, messy, and incredibly hard...
- 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 chevys. They strive to be inclusive in the people they show, but not in the properties. I think this is a huge mistake…...
This book is designed to help you through all the stages of vacation rental ownership, from buying the right property, to setting up your property for rental then the process of managing your vacation rental to achieve success.
Technology is moving at such a fast pace that...
- 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
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...
- Founder, VRMB
In this episode, Matt reflects on Season Six and shares thoughts from our guests that come together to create a framework for configuring your vacation rental Magic Zone.
- Founder, VRMB
@Sherry Woodhouse and Darrel Looney are two of my all-time favorite vacation rental marketing heroes. They curate their stunning Villa Mais Oui in Jamaica from their home in Central Illinois. A true remote Limited Edition business. It has not been easy for them: but when you hear WHY they do this, a clear and inspirational picture of our industry starts to emerge.
Here are some of the powerful lessons that...
- Founder, VRMB
Questions or comments welcomed below...
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Latest reply by
- JPrugh
@JPrugh what you’re really describing is the role of destination ambassador in an up-and-coming place. I met this role firsthand when I moved to the historic district of Casco Viejo in Panama in 2006. It was completely off the beaten path: no...
- Founder, VRMB
For our first in-person recording since early 2020, Matt sat down with Julie Brinkman of Beyond at the recent VRMA Connect event in Sandestin Florida. Julie is part of a new wave of CEOs entering the vacation rental industry with perspectives that benefit us all.
This episode is brought to you by Point Central, the leaders in smart home automation, and Breezeway, the best in class property care and...
- Founder, VRMB
With shrinking margins becoming a real concern (it seems like every new service takes a piece of the pie) owners and managers can compensate by either increasing profit or decreasing costs. This post is about decreasing costs in the form of a "profit center" -- a strategic way to leverage economies of scale.
A profit center is a division of a vacation rental business that reduces a previous cost by effectively...
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Latest reply by - Nancy
I absolutely hate leakage especially when it affects my guest's experience.
Looking for ways to increase your dollar per transaction by looking outside of the four walls of your rental is the best way to gain affiliate marketing, and even expand...
- 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 property owner - whether that be the hotel, corporation, or homeowner.
You have to start there with the types of supply chain foundation...
- Founder, VRMB
This is a Quick Tips episode of Unlocked, where Matt shares actionable wisdom from VRMB Communities.
Most vacation rental professionals tend to over-work because they wear many hats. Over-working is not sustainable...it will eventually burn you from the inside out. In this episode VRMB Communities discusses the solution: a forced break!
- 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
Vacation rental gap nights don’t need to be money losers. With the right tactics and toolkit, you can turn “the gap” between bookings into a revenue generator by mastering the art of extending guest stays. And you won’t need to drain your time and resources to do it...
- Founder, VRMB
In this episode Matt sits down with Andrew McConnell of Rented.com for some must-listen industry analysis and...a few 'twerks'.
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 asked @AMcConnell to share his most startling discoveries from nearly 10 years of vacation rental startup grinding. This...
- Founder, VRMB
This is a Quick Tips episode of Unlocked, where Matt shares actionable wisdom from VRMB Communities.
Have you ever come across a product whose presentation is so on point 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...
- 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...
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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