When you have a question about your short-term rental (STR) business, where do you go? Do you run a Google search and then spend several hours sifting through the information? What if you had a community of experienced Airbnb hosts you could go to for knowledge, inspiration and support?
Phillipe Thibodeau is the real estate developer and STR host behind Strawberry Stays, a vacation rental and property management company out of Montreal, Canada. His experience as a host began with a single unit in May of 2017, and now he and his business partner are growing their portfolio quickly—with plans to secure a total of 80 listings in the next 12 months!
On this episode of Get Paid for Your Pad, Phillipe joins me to discuss the pros and cons of self-learning versus being part of a community. He explains how COVID-19 gave him the opportunity to work ON his business and what you can do to develop a playbook for your own Airbnb. Listen in for Phillipe’s insight on the three things you need to know before you start a STR business and learn how YOU can get inspired by an engaged community of Airbnb hosts!
How Phillipe got into hosting on Airbnb
- Struggling to rent unit of building owned w/ best friend
- Decided to try STR, earned double normal income on unit
- Opened eyes to new market in real estate business
How Phillipe was affected by COVID-19
- One guest for 30 days vs. 30 guests per month
- Opportunity to work ON business (build systems)
How to develop a playbook for your STR business
- Wear ALL hats early on (e.g.: cleaning, maintenance)
- Optimize and document processes for every role
The three things you need to know before you start hosting
- Look for community to learn from
- Business doesn’t run itself (work ON AND IN to start)
- Only move forward if you’re passionate about STR
The benefits of being part of a community of hosts
- Knowledge and information
- Motivation in moments of doubt
- Accelerate growth
Phillipe’s goals for the next 12 to 24 months
- Grow business to qualify for STR Legends
- Build boutique hotel on land purchased
Connect with Phillipe
Email [email protected]
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