In the short term rental riches will discuss investing in real estate with a specific focus on short term rentals quick action items to wire. Scale your portfolio I’m your host Tim Hubbard.

Welcome back to the short term rental riches podcast how’s everyone doing hope you guys are doing really well we’re gonna talk about expectations this week and expectations are the name of the game when it comes our short term rentals if we set them too high and they don’t meet our guests expectations well you can guess what’s gonna happen you’re gonna get a negative review right so I’ve been traveling quite a bit actually even with all the covert stuff going on I flew back from Colombia to visit my family in California I went to Tennessee to check on some properties actually went to a conference in Texas and then back to Colombia now I’m actually in Brazil’s I’ve been moving around a little bit but at the same time I’ve been stain in some error being bees and so I want to give you one that didn’t really meet my expectations and then I want to give you another one where I kind of dropped the ball with one of my properties and what we did to fix that okay so recently I rented a Airbnb and Tahoe California my family lives in Sacramento so it’s nice to go up there for a couple days and rented a cabin you know next to the lake and one of the things I put in there was jacuzzi you know I I like spas in the winter it’s just it’s it’s nice with the snow outside but then a nice hot jacuzzi especially after some skiing or snowboarding I was fortunate I was able to sneak a day of a snowboarding in which I love love love so I was excited for the jacuzzi right now when I booked the place I didn’t realize that the jacuzzi was like a 2 person jacuzzi probably the small jacuzzi I. I’ve ever seen that wasn’t built into a bathroom or something and on top of that it was actually in the front yard there’s no privacy nothing like that so on arrival that was the first thing we saw was this jacuzzi in the front yard essentially I mean this is kind of a little cabin in the woods but it was in the neighborhood so it’s right next to neighbors that was the first thing we saw so that was a bit of a letdown and that really can set off a gas whole experiences the arrival because if something doesn’t fit what they expected well then they kind of start looking for other things or maybe it could really affect their whole stay independent on how long the stay is if it’s really short if it’s just a night or 2 well then that first impression lasts longer right but if it’s a month long stay then that host or that property has time to kind of make up for a not so good first impression right the longer it goes the more time you have to make up from a bad first impression but for us you know a lot of our stays are 123 nights so if we dropped the ball in the beginning then we’re probably not going to receive that great of a review unfortunately now after we’ve done this for a while we can usually work all those little things out right now I’m sure that this host has received this complaint before about the spot because it wasn’t accurately depicted on his listing you know I I went through the pictures and I wasn’t expecting that. That was a reason one you know it’s just something really simple the reality is is you guys are dropping the ball somewhere or not meeting your guests expectations you’re going to hear about it and we need to fix those things we need to correct them so this owner for example could have put a much more clear picture in there with a note under that says please note the spies for 2 people or it’s in the front yard or has he no no privacy or if you think that it’s something that you really need to get their attention you could put it in the house rules even if you wanted it for on Airbnb that says before reservation gases it knowledge that so and so you know whatever it needs to be solved take a look at your listings again and see if there’s anything that’s maybe not super clear that someone might not like because it’s going to affect your reviews and it’s gonna ultimately affect your occupancy in the mount you can charge and so it’s better to crack these things in the very beginning now one example where I kind of dropped the ball and I didn’t realize this until later on but we had a guest book for a month actually in a in a property multi family property that has 8 units there is a shared balcony for the building now this guest thought that the balcony was private for his unit I had pictures in there and I had comments in there but obviously it wasn’t enough right to this gas was really furious because he bought that for a whole month and is expecting to have that so we had to work with them you know we made a right and we discounted his stay and and until he is happy really and I understand you know I understand that he was expecting something he didn’t get so afterwards I made it much more clear I didn’t want to take that picture out of the listing because I think that it’s still a benefit it’s still a nice thing that the property has but there’s other ways. Is to make it more clear so make sure the text in your photos really describes something if it’s a common area space so you’ve got you know I’ve got in bold letters I’ve got it in the special notes section or the other things to note section of Airbnb there’s other places where we can put these saying so just to review of your listings if you’re not getting great reviews it’s likely because you’re not meeting your guests expectations and something needs to change so just a couple quick examples real short this week just wanted to reinforce how important that is hope you guys are doing well and until next time have a great day. There’s so much money to be made the short term rentals but it all starts by having the right property if you guys haven’t yet seen my free ebook on our website rest methods.com head over there and get a copy it’s going to break down what I look for in a property and some great short cuts so that you don’t have to spend hours and hours researching at over rest methods.com and you can grab your free copy there if you want a crash course in everything I’ve really learned to short term rentals in over 5 years managing over 15000 Gasol recorded on our last live event and I’m happy to say broke it down really nicely into a bunch of different models that you can watch at your own pace it takes you from start to finish finding a property we talk about analyzing the property but then also some of the more important pieces how to find your team and how to set up everything so that you can run your operation is passively as possible and free up your time you can find that it rests methods.com forward slash.

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