New Ways to Use AI for Your Short-Term Rental, Productivity (Part Two)

welcome back to the show I'm glad you're here again let's go ahead and just jump into seven ways I think that you can use AI artificial intelligence for your short-term rental or for a property that you're hoping to acquire now don't let the words artificial intelligence scare you off I know it's very techy but I promise you uh there are some really easy solutions out there and you're going to love them once you dive into them so the first thing is just AI is coming whether

we like it or not uh Airbnb has announced actually in next May I'm going to read from this article here that uh and this is from their CEO directly he says and quotes basically the short answer this is a question about artificial intelligence the short answer is next May you're going to see a whole new Airbnb AI is going to be the center of it uh we have 72 user policies we have a discrimination policy we have a cancel ation policy we have a rebooking policy

some of them are as long as 100 pages so he's referring to all of the processes that their team members have to go through to help us on the other end of Airbnb so they have some really big changes coming in terms of their actual team structure I know this firsthand because we've just recently hired several people that used to work for Airbnb and so we'll see what happens in the future but it sounds like there's going to be a lot more AI going on uh

in regards to Airbnb and with good reason there's another company that I was catching a recent webinar on uh from skift check out skift's research if you haven't already but there's a company on there called Plum guide and Plum guide's running a100 million company $100 million in annual revenue and they just implemented AI across the board with their Solutions uh one of those Solutions one of the reasons they're using it is in regards to listing descriptions and so they're using AI for that we're going to

get to that that's actually one of our points for today's episode so AI is not new to you you've undoubtedly heard about before let's jump into the ways that I think it can be really helpful for your short-term rental and ways that I know that it is because we're already using it the first one is market analysis so are you looking to invest in a new market but you don't really know anything about it well you can use an AI software solution like chat GPT that's

the one I'm going to refer to most for today's episode it's also it's it's one of the most common it's super easy to use you can do very simple market research on there just to give you a few examples maybe you decided on a city that you like but you don't happen to know yet the best neighborhood for tourism or where tax regulations are easier or where short-term rentals are more allowed or people are traveling to well you can create those prompts right into chat gbt

have it give you analysis of that market based on your prompt so the prompt is the difficult thing here this is where a lot of us get hung up and I'm going to give you my five-step solution for that at the end of this this is what I've sort of developed after watching quite a few videos on AI reading articles and just testing this out myself so that is the first piece and today I just want to give you the overview because if we jump into

each one of these we could go down a rabbit hole and be on each of these suggestions for quite a long time so just know you can do some good market analysis with chat GPT however you've got to double check your facts right obviously we don't want to be investing our hard-earned dollars in a market based off what chat GPT says but for your initial research it can be really really helpful the next piece is discovering who your guest Avatar is or who it will be

if you are going to purchase a property in a new area so our guest Avatar these are the people that are staying in our properties and this is something that we have to know we have to get right if we don't match this up with our property well then we're not going to have good reviews and our property is not going to do well so you can do the same thing simply with chat gbt you can plug in the location where your property or your future

property will be you can give it the characteristics of your property maybe it's a five bedroom three bedroom three bath with next to a lake whatever it happens to be and Chachi can help you uncover who's most likely going to be traveling to your property I also suggest having a backup Avatar so who's the second most likely person or group that's going to be showing up to rent your property so that's number two number three this is after we have our property and this is listing

copy so we know that there's a lot of things the OTAs or the online travel agencies like Airbnb ask us to put in our property details the more the better they don't create these sections for nothing so the more we fill out the better a property is going to do the higher it's very likely going to rank in their search visibility so we want to fill out all these sections but sometimes it's hard to craft those messages again we can use chat GPT for this we

can give it a character limmit let's say the Airbnb title right now only allows for 50 characters well that's one of the things you want to put into your prompt to help it come up with an answer for you so of course we can use it for listing titles but we can also use it for all of the listing body neighborhood description uh our interactions with the guest you know there's a lot of different sections they have in there so give it a shot on chat

gbt next one up this is interior design yes artificial intelligence is making its way into everything we actually talked about interior design quite a while back if you go to our website strr riches.com and you search for interior design you will see some other websites some other companies that we suggested in the past to help with virtual designing but if you want to do it all on your own there's some good AI tools now that allow you to really visualize how your property is going to

be laid out so jump onto Google type artificial intelligence interior design you're going to see a whole list of them the reality is there's a ton of AI programs out there literally hundreds and more being developed all the time chat GPT just happens to be the one that most of us have heard the most about and so that's the one I'm mainly focusing on for today so let's get to the next piece here communication responses so sometimes it's hard to respond to those negative reviews right

someone's really uh maybe they've been dishonest and you put all your hard sweat and dollars into your property and it's beautiful and someone didn't like it for some reason it's hard to respond to those reviews but you know what one of the nice things about AI is it doesn't have any emotion so we don't want our emotion to come across when we're responding on negative reviews we always we always want to be understanding and pathetic and so these are things that we can allow chat GPT

to do for us and they can do it very very quickly of course it all depends on the prompts you give chat gbt and we're going to get into that in just 1 second before we get off the communication topic I just want to say that my property management software already has AI built into it we're using hostway right now but I imagine a lot of the other programs already have this as well so it's coming whether we're ready for it or not uh it can

be very helpful it is also a tool so we have to know the best way to use it next up for our suggestions is marketing so if you have your own website where someone can book your short-term Ral directly I hope that you do well you can create a bunch of marketing material marketing emails prompts by using chat GPT maybe you want to send out a monthly newsletter you can again plug in your city where your property happens to be maybe things to do in that

area and have chat GPT come up with some prompts for you not only the titles but also all of the body as well now if you don't have a website already well I got good news for you this seventh suggestion is actually AI for website development so one of the things that AI can do if you didn't know already is that it can help code websites it can do all kinds of things but there are sites out there literally one called uh 60c site where they

can build you a website in 60 seconds you just plug in a few prompts enter a little bit information and they're going to create you a web page of course uh you're going to want to make sure that you edit it and double check it and make sure that it fits what you're actually looking for one that I would recommend is called hostinger hostinger h o s t i n g r.com this will actually build a WordPress website so WordPress for those of you that don't

know that's what most websites are built on that's the foundation it'll create a domain name for you so www.property.com for example of course the different levels of the service have different pricing so you want to make sure that you choose the one that's best for you but if you don't have a website already this is a really easy way to create one a really easy way to get your domain name and if you're using a property management software already most of the time they have what

we call a plugin where you can just take the plugin that allows you to copy that code paste it in your new website and then someone can book on your website and all that information is going to funnel right through your property management software that you're already used to using if you don't have uh access to one of those plugins or you're not using a property management software program yet firstall I highly suggest that you do but if you don't you could at least share your

Airbnb link on here this is a way for you to get started get your website out there so there it is there's seven ways that you can use AI to help with your short-term rental business right now I know there there are a million others we're experimenting with a lot of those different ways and so we'll we'll catch you up in the future on some other ways for doing that before we can get the information back from chat GPT that we actually need though we have

to give it the best prompts possible and so I want to give you my five-step process to where if you use these five steps you should get pretty good results almost every time the first one is you're going to want to talk to chat GPT and again this is just typing into the chat you want to give it a Persona so who is chat GPT writing on behalf of is it Batman is it Superman is it a short-term rental owner that lives in Pennsylvania or in

San Diego so give it that Persona let it know who it's writing on behalf of that's the first thing the second piece is context we have to give a little bit of context to chat GPT so it knows more about our end result what we're looking for so if you're a short-term Minal host for example if that's your persona maybe you want to give chat chat gpts some more information about your property it's a five bedroom it's next to the ocean whatever it happens to be

provide a little bit of context so that it can produce a better result for you the third piece is we need to give it a task so this could simply be I need a listing description or please write a listing description for my property it already knows who it's writing on behalf that was Persona and already has some context so some context about your property give it a task that could be a listing title that could be a description that could be photo captions whatever it

happens to be uh number four we need to give it a format so how do you want it to return results if you're looking for a listing title for example and the max character limit is 50 characters well then you need to tell it that give me a title in 50 characters that blah blah blah blah blah so uh you can ask for a result for listing description with bullet points whatever it happens to be you need to give it some format as well all and

then lastly you need need to give it a tone so what sort of tone do you want chat GPT to have do you want it to have a fun tone a relaxed tone an empathetic Tone If you're writing a review response so make sure that you think that through and play around with this right the nice thing is that when we input a request or a prompt we don't have to get it right we can play around with it until we do I've got a couple

bonus tips for you the first one is if you give chat GPT some examples that's really going help it so maybe you could give it some examples of listing titles that you already like and ask them to rephrase it the second bonus tip is that sometimes this can be a little bit of work creating these prompts and sometimes we're going to want to create the same search results again and so one of the things that I've been doing is after I get to the bottom I

get to my results it's exactly the way I want it I ask chat GPT to go back through all my previous prompts summarize them and give me a template of all those prompts that will produce the same results like the one it just created so there's a ton ton of opportunity with AI it's making its way into to the whole business industry everywhere uh of course with Airbnb it's already happening and a lot of the software programs we use and the reality is it can make

our guest experiences better right if we do a better job at crafting messages at knowing who our guests are and knowing more about our properties and our cities these things are all helpful this is a tool so we need to learn how to use it I hope these suggestions and these tips gave you a little more insight until next time I hope you have a fabulous week I've dedicated years figuring out how to manage my personal portfolio remotely and it wasn't always easy and it took

a long time but now my amazing team can professionally manage my properties without me and good news our team can also manage yours let us save you the stress and headaches and some money by offering you an industry low fee to find out more about partnering with us to Str Str riches.com hit the property management button answer a couple quick questions and meet with me personally that's Sr riches.com rest easy knowing that with my team your properties will be in excellent hands