I have hosted our homes on Airbnb for too long. I have watched the corporate demise of this company’s business model. With me and the homes we host, Airbnb’s days are numbered. I can not continue to complain about the same thing and expect a different outcome. This is the same feeling I have had before my divorce. Before my exit from Guilford County Schools. Before my exit from Corporate Real Estate. I know this feeling. I know what I have to do.

Last weekend a guest booked a stay after I had declined their stay. They asked me if I would change my cancellation policy for them for a booking they wanted to make 6 months in advance. I declined their request and communicated that we can not change our cancellation policy. We are not renting out hundreds of rooms or homes. We are not looking to just fill a home for a few nights just to get our metrics data to say we have some specific occupancy rate. We have no dollar amount sales goal other than to always make enough to pay our mortgages on time, all of the utilities and insurance and maintenance on all the houses and still have enough to pay myself a salary at least as much as what I made as a special education teacher working full time for Guilford County Schools. When I was teaching that was about $42K per year. Right now we have a lot of debt we took on to get these homes into livable condition. We have a lot of projects we want to do in the future to make the homes better, as well as add more units to what we already have.

I have looked at multiple property management software and channel managers. There seems to be a glut of these type of stuff and they are all doing a CRM style of advertising that absolutely wears me out and makes me feel so overwhelmed. The number of emails, even after filtering, is overwhelming. I delete 98% of my emails. Fyi, if you want to market something at me, my brain doesn’t work that way. Get a jungle or something that’s atleast clever. Then play it on Superbowl, which is my only favorite day to watch commercials.

September 24th, 2024: We onboarded with Hostaway at the end of July and that process continued on well into August. I

Managing multiple short-term rental properties across various platforms can be complex and time-consuming. Utilizing a comprehensive channel manager like Hostaway can significantly streamline this process. Hostaway offers seamless integration with major booking channels such as Airbnb, Vrbo, Booking.com, and Hopper, ensuring that calendars, availability, rates, and booking policies are consistently updated across all platforms.

Hostaway

Transitioning properties from short-term to traditional long-term rentals can alleviate the intensive workload associated with frequent guest turnovers and constant communication. Long-term rentals provide a steady income stream and reduce the operational demands inherent in managing short-term stays. However, it's essential to conduct thorough maintenance—such as cleaning, painting, and repairs—during these transitions to ensure the property is in optimal condition for new tenants.

Implementing direct booking options on our property's website diversifies our booking sources beyond platforms like Airbnb. This strategy not only reduces reliance on third-party channels but also allows for greater control over bookings and potential cost savings on commission fees. As we receive inquiries through direct bookings, it has been crucial to develop efficient processes for managing these reservations to enhance guest satisfaction and operational efficiency.

We hope that leveraging tools like Hostaway for channel management, transitioning select properties to long-term rentals, and incorporating direct booking options can collectively optimize the management and profitability of our rental portfolio. This year is our second year with Quickbooks and we are excited to see what our end of year numbers look like. We took on a significant amount of debit rehabbing these lil junky houses into curated love filled homes.