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

Welcome back to the short-term rental riches podcast we’re really lucky to be in the short term rental world because of all of the amazing the feedback that we get from our gas it really helps us perfect our business and so that’s what I want to talk about this week using the feedback not just the reviews but more specifically the private feedback so let’s jump right in. So here we are again I want to talk briefly about private feedback so I’m referring to not the review that your guests might leave you on Airbnb or B. R. B. or whatever happens to be which is public but I’m referring to the private information that they send you a lot of times along without public review so it’s really important to be reading the private feedback and really is like a free hall pass right I guess might say Hey I love your apartment everything was great but you know what I think your kitchen could use an additional pan or some additional utensils a little thing but a little thing it’s very likely to come up again from another gas so we want to use this private feedback as an opportunity to perfect our properties 100 percent hopefully we don’t have too much of this coming up but properties change over time to write things wear out or maybe you have one guess it’s a little more. Take killer in the by the way they like a certain thing whatever it is but the reality is is when the feedback is coming back it’s because there’s something that could have been better for our guests we really really want to make sure that we’re reading all of the feedback and hopefully gets to the point where that feedback goes to basically 0 and you just have glowing reviews right now there’s a couple things that we don’t want to do with the private feedback and I have seen this before where someone will read the private feedback let’s take an example where maybe a gas left you a great public review. Bye they maybe didn’t feel 0 percent safe in your property or they didn’t like how close it was to the neighbors maybe something that you can’t change now I’ve seen where people actually take this private feedback and respond publicly and say in this example I’m sorry didn’t feel super safe in our property and so when a new potential gases coming in and. Attention going to book this property in the reading 3 reviews and they see a review from John that’s a great property 5 stars and then they see response that says Hey I’m sorry I didn’t think it was safe I like what the heck’s going on here so you don’t want to basically give yourself a bad review because your posting publicly about a private review so it’s really really important to use at this private feedback the last bit that I’d like to leave you with today is you need to get more feedback right if we’re not asking our guests for feedback we’re not going to be getting as much of it so you don’t want to bombard someone but it’s great to send them a message you can be automated when they’re checking out and say Hey John you’re fantastic gas I’ll be leaving you of 5 star glowing review and we really appreciate it if you could leave us some feedback and review and if John doesn’t respond to it for a couple days we send out another message asking John Hey would really appreciate it only take a quick second you don’t want to just keep sending this right and now Airbnb and VR BO we’re gonna send this on their into but it’s definitely helpful to be sending on your own I used to use gas T. as a management software they actually have the ability to recognize when a gas hadn’t left review yet so we had automation set up in there to send the gas in the mail we didn’t see one received depending on which management platform you’re using if you’re using management software some of them have this capability so look into that and that can save you a lot of time right if you’re not having to write those review requests yourself the more feedback you get the better of course we do get feedback during the stay and we wanna monitor that we want to make sure that we’re fixing anything that comes up and I would say if you’re hesitant about some of the feedback a gas gave you maybe they said Hey you know I think the. That you should add a new dryer your dryer doesn’t try that well or something like that maybe it’s a bigger expense item and you’re not quite sure if you want to do that but then you get a nother message another private feedback from another gas it says the same thing well then it’s time to change that dryer it’s time to fix whatever that issue is so the private feedback is invaluable we don’t get this and other industries if you go to a restaurant in your eating and the waiter comes over and he says how’s the food and you really do not like it a lot of times you’re not going to say I hate this food it’s disgusting a lot of times people don’t even say anything but here in the short term rental world it’s very easy for someone to leave their responsible leave their private feedback so let’s just make sure that we’re asking for feedback or asking for reviews and we are using that to perfect our properties because with a better property we’re gonna better reviews and we’re gonna have a higher occupancy and we’re gonna make more money and that for a lot of us is one of the big reasons were in this space in the short term rental space instead of just doing traditional rentals short term rentals can make much more money if we’re doing it right so take that into account make sure your checking your private feedback and until next time I hope you have a wonderful wonderful. 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 we broke it down really nicely into a bunch of different modules that you can watch at your own pace it takes you from start to finish from 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 virtual.
 
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