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- Founder, VRMB
Trial and error 'metabolism' is one of the most popular ways to build vacation rental muscle.
But once you've reached a sweet spot, trial and error metabolism tends to slow: either because you've build a seamless machine OR you've lost motivation for growth.
One way to mix things up is to adopt the mentality that "everything is a test."
"Everything is a test" gives us the confidence to try a myriad of mini...
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Latest reply by
- Matt Landau
Reference Discussion (for anyone who wants to learn more about QR codes)...
Hi All,
It's been a while.
Have a quick question for the group.
Over the past two years it's become clear that our core markets are...
a) family gatherings / reunions... usually multigenerational in high / shoulder season - summer, Christmas, Easter etc.
b) group...
@Sallie totally. :)
- 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...
- 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 Rental Or Holiday Let" suggesting that how you feel about terminology does not matter...it's the public search statistics that should dictate your marketing.
The...
- 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...
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 to pre-pandemic numbers.
I know everyone has strong feelings on "airbnbust" but aren't we just experiencing the ebb and flow...
- Founder, VRMB
IDEA
Some marketing activities -- like listing sites and email newsletters -- are common. But other activities that generate equal (if not BETTER) results are far less obvious. I spent the last week with over 500 vacation rental virtuosos at the Streamline Summit in Scottsdale, AZ. And one of my most salient takeaways is that there is massive ROI in baked goods.
Yes, you read that correctly. In a handful of...
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Latest reply by - CareySue
We own the local donut shop and put donuts in our arriving guests units... they LOVE it! Mentioned in almost all the reviews #donutlove
- 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 participating in this...
- Founder, VRMB
Trust comes when a vacation rental host is genuinely more interested in ensuring that the visitor has a great vacation than in getting them to book his or her property. The vacation rental business that builds the most trust, wins.
Question: What are the best ways to earn trust with future and former guests?
(I’ll begin posting other responses that come in from non-IC members below)
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Latest reply by
- Matt Landau
Hi folks, I'd like to try to do these kinds of MMMs more often in which we take a deep dive into one particular technique or factor or idea throughout the week, use as much input as we can to...
- 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
Note: I learned this idea from Bryce Leonard of Key Data Dashboard at (where so much conference learning takes place) the hotel bar.
Perhaps Obvious Fact #1: Technology is the single biggest game-changer that propels today's vacation rental pros (compared to their hospitality predecessors) to entirely new heights: so taking advantage of all the new technology is a no-brainer to make more money (and have less...
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Latest reply by - Terry
@AFirmani, the most important piece of tech anyone possesses whether they have one property or a thousand is your PMS. You can't have a tech stack without a PMS. Find the right PMS for...
- Founder, VRMB
UPDATED: March 14, 2024
This past week Miami came out with the following commercial to dissuade partiers from choosing it for their Spring Break shenanigans. It was a brilliant example of the "Why our destination is NOT for you" messaging we've explored before...
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"7 Reasons Casco Viejo is NOT For You" (original blog post from 2010 attached) was the single most impactful piece of content I ever created...
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Latest reply by - EBadia
Interesting the we're not an Airbnb.. ohhh I remember those conversations you and I had about Airbnb
- Founder, VRMB
How do you consider whether you want lots of little improvements or one much bigger change? Is it possible to both simultaneously? Does it depend on the particular phase of growth?
Years ago @ROster introduced his formula for continual improvement and many members have shared examples of this thinking in all aspects of the business (and life). The gist? Continual improvement always.
If you are on a good...
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Latest reply by
- ToonTownRob
If I could challenge this idea...I think inherent to the big changes is the understanding that...
- Founder, VRMB
Challenge: Creativity is like a muscle. The more you exercise it, the more it strengthens your story and your vision for the future. I'd like to challenge members to share one short story that moved them emotionally (reference the feelings wheel for inspiration) in the last few weeks. It can be short. Or long. Great or lame. The mere act of sharing your quick story is the creative act in and of itself.
I Am...
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Latest reply by - SScurlock
When we started living in our vacation house in Mexico for six months a year, I never suspected our dog would open...
- Founder, VRMB
IDEA
An inside joke is humor that requires information only available to a group.
It can be as small as a joke between you and your guest.
And when pulled off, it forms a connection that deepens the relationship: making you more than just another place to stay, but a true insider friend.
@StacyW recently shared with me this text message interchange between her team member Lacey and a Guest:
Lacey: Good...
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Latest reply by
- DMartinez
I first met this guest on the trail in front of our house while it was under construction for remodeling. As he was chatting about his vacation stay there, I mentioned I too had a house for rent and invited him to come to tour our house for his next...
- 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...
- Founder, VRMB
When I would get feedback/reviews at my vacation rentals in Panama, my instinct was to respond with pride because I created that experience!
Proudly, the good reviews gave me ego boosts and the bad reviews’ root causes went unnoticed (because I could not or would not see em) and the problems therefore persisted. Unimaginable. Impossible!
It took me a while to figure out that pride means taking a defensive...
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Latest reply by
- Matt Landau
From the Guest:
The big and short of it:
The yard was terrible and embarrassing with an ant infestation and weeds everywhere. It was unusable. The owner told you they couldn’t find anyone to get it done. The gardener told me they...
- Founder, VRMB
In January, we started the discussion Encouraging Conferences for 2022 and so many community members chimed in.
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When Bob Iger and Disney faced the looming disruption that streaming platforms caused to the conventional world of TV and film, they went on a buying spree picking up famous brands such as ESPN, Pixar, Marvel, Lukas Films Star Wars…etc. Why? They believed that no matter the disruptions to the...
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Latest reply by
- StacyW
For me, it was my first time out of the State of Hawaii since 2019 and it was so great to be with my peers in the...
- Founder, VRMB
I was out to dinner at Marcus Samuelsson's restaurant Red Rooster last week. (Yes, the same restaurant that was featured in "10 Oxtails.")
Trying to decide on an adult beverage.
When the waitress suggested a wine I had never heard of before.
"So two sisters, separated at birth, one raised in California and the other in New Zealand, eventually discover one another, learn about their mutual obsession with wine...
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Latest reply by - AlexC
So here's a story I heard recently. I thought I would share it here.
Apparently, in 1965 there was a Harvard psychologist doing a study on potential in school...
- Founder, VRMB
A foundational element of building a home is the plot on which it sits.
One of the first investments we suggest vacation rental professionals make in Stage 2 of Listing Site Independence is in domain names. And there are three types of domains you should consider purchasing in order to carve out your own little piece of online real estate.
Your full name (good for any and all professional pursuits -- people...
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Latest reply by - Alessandra
I bought my domain name as soon as I began my rental. It seemed like the best thing to do and I guess it was!
- 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 contemplating the...
- Founder, VRMB
Lately I've found myself especially drawn to hotel and vacation rental photography that uses props or staged items to evoke a warm, welcoming scene or aspirational vignette.
With our exploration of "first mover" marketing plays, I have to think staged photography is right up there at the top of the "What doesn't currently exist in your market, but will become ubiquitous once someone starts doing it?" list don't...
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Latest reply by - RuthM
I have battled it out with a few of my team over the years about staging a photo to set the scene, vis. a more conventional real estate style of photography, which some are more used to seeing. These images are beautiful and resonate with how we stage ours. It's worth...
- 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 too have found that after taking the risk of opening a new asset management company (STR management) right in the middle of the pandemic that we haven't had an...
- Founder, VRMB
IDEA: New Years resolutions or goals are great for business. But the fact that they are plural means that they're likely to blur together and the fact that they're wordy sentences or phrases gives us all kinds of room to wiggle out and escape accountability.
ACTION: Take some time over the next few days and decide on ONE WORD that sits at the core of your vacation rental marketing goals for 2020.
The best way...
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Latest reply by
- Matt Landau
Negative people are viral in a bad way...
I want this on a T-Shirt!
- 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 IMO nearly unwatchable...
- Founder, VRMB
This week in a NYT travel article I learned the word Flâneur. Here's some of my fav quotes:
A flâneur is an idle stroller who wanders aimlessly and lets 'accident' be their guide: one of the best ways to explore a destination is not with goals or itineraries but by following your senses
To walk a city led by your senses rather than a destination is to awaken to the city and, possibly, to yourself.
It’s...
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Latest reply by - davidliedl
We definitely introduce guests to one another, at our weekly pizza party where guests get to meet up and we all make pizza together (not this year of course) - taking it in turns to roll out the dough, top it with ingredients, cook it in the...
- Founder, VRMB
I've organized the traits into categories so you can go through like a checklist. And if you would like any further information, please just jump into the thread on VRMB Communities here.
Note: Profitability does not discriminate. Whether you own one property or manage 1,000, these should all apply to you.
Pricing
The most profitable VR pros know their value and have a clearly-defined pricing strategy that ebbs...
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Latest reply by - Catherine
@Matt Landau
"Charge non-refundable damage deposits": dumb question- do you take a % of rental charged or a flat fee? If you charge a %, is that for all charges ( extra fees) or just a % of total nightly rate?
* OR let's me buy a $500...
- Founder, VRMB
Content idea time!
IDEA: We're all familiar with the press pieces featuring THE TOP {insert adjective} VACATION RENTALS IN {insert destination}.
There are plenty of variations but for the sake of this post I'm referring to these pieces as "Top X." And typically, the author has little to no subject matter expertise. Sometimes companies being mentioned in the article are paying to be featured!
But these...
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Latest reply by - KarenB
You were asking "where to publish" a Top "XYZ" article... We are in the middle of writing one right...
- Founder, VRMB
Storm Watching is a creative marketing strategy by the destination of Tofino on Vancouver Island in British Columbia...turning lemons into lemonade...taking a low season and turning it into something new and aspirational.
Stoke the fire, pull a chair up to the window, and snuggle into a down comforter to watch Mother Nature assault the land and sea outside your hotel window. Gale force winds whip the ocean into...
As a follow up to my April 20 post.....we opted to play up all the wonderful amenities inside our property and let this sell itself. The property, with or without higher water...
- Founder, VRMB
In my 2022 Predictions Piece, I explain how big money and roll-ups will fuel the one-of-a-kind or Limited Edition players in the vacation rental industry. Said another way, the small businesses that accelerate in the direction of family/local/specialized/surprises will not just enjoy new-found demand -- the sector's tailwinds will satisfy their wildest business dreams.
Here's a prime example: I visited Mike...
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Latest reply by - Katie Bien
We require a contract, but like many here, we do have an "out" for either party. While the...
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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