Short Term Rental Riches

Tim Hubbard
  • 4.8 (116)
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Short Term Rental Riches Podcast

Tim Hubbard, successful investor and CEO of a seven-figure short term rental management company shares it all. The insider tips you need to know to acquiring, operating and scaling a successful short term rental business.

  1. 253. Save on Taxes and Don't get Audited! Short-Term Rental Strategies with CPA, Amanda Han

    2 DAYS AGO

    253. Save on Taxes and Don't get Audited! Short-Term Rental Strategies with CPA, Amanda Han

    In today’s episode, we’re diving deep into the world of tax strategies for short-term rental investors with the renowned Amanda Han, a real estate CPA and tax expert. If you're in the Airbnb business, this episode is a must-watch as Amanda shares how to take advantage of the short-term rental tax loophole to offset your W-2 income, even if you don’t qualify as a real estate professional. With over a decade of experience, Amanda has helped countless real estate investors, including myself, save thousands in taxes while building wealth through real estate tax deductions and depreciation strategies. We also discuss critical tax updates for 2024, including changes to bonus depreciation and how it impacts your tax filings. Amanda walks us through the best practices for tracking material participation hours, which are key for audit-proofing your Airbnb business. Whether you're new to the short-term rental market or a seasoned pro, Amanda’s insights into real estate tax benefits could make a huge difference to your bottom line. This episode is packed with actionable tips, so get ready to take notes!   In this episode, you’ll learn: Airbnb Tax Loophole: Learn how short-term rental owners can use the Airbnb tax loophole to offset W-2 income without qualifying as a real estate professional. Material Participation for STRs: Understand the importance of tracking your hours to meet material participation and how it can help you save on taxes. Bonus Depreciation Updates: Get the latest on bonus depreciation for real estate investors in 2024 and how to apply it to your Airbnb property. Real Estate Professional Status vs Short-Term Rentals: Find out the difference between real estate professional status and material participation for short-term rentals, and how each impacts your tax savings. Audit-Proof Your Airbnb Business: Amanda shares her top tips for tracking hours and expenses, so you can audit-proof your Airbnb business and avoid IRS penalties.   Thanks for tuning in to this episode packed with tax strategies for short-term rental investors! Amanda Han’s expertise in navigating the Airbnb tax loophole and the latest updates on bonus depreciation are invaluable for anyone looking to grow their wealth while minimizing taxes. Whether you're aiming to qualify for real estate professional status or just want to ensure your tax filings are audit-proof, Amanda’s advice can help you achieve your goals. For more great tips, make sure to visit Amanda’s site at KeystoneCPA.com where you’ll find a free eBook on short-term rental tax strategies. And don’t forget to subscribe to this channel for more insights into real estate tax benefits, Airbnb tax deductions, and other tips to maximize your profits as a short-term rental investor! Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

    34 min
  2. 252. Protect Your Airbnb from Damage and Fraud | Guest Screening with Leo Walton from Superhog

    SEP 10

    252. Protect Your Airbnb from Damage and Fraud | Guest Screening with Leo Walton from Superhog

    In this episode of the Short-Term Rental Riches podcast, we sit down with Leo Walton, co-founder of Superhog, to talk about effective guest screening and risk management for short-term rental hosts. Leo brings a wealth of experience, from avoiding fraudulent bookings to preventing damage, Leo shares key strategies that every short-term rental host should have in place. Discover how to prevent unwanted guests, minimize damage, and protect your Airbnb or vacation rental property with the best practices in guest verification and fraud prevention. In this episode, you’ll learn: Guest Screening Reduces Damage Risk by Tenfold: Learn how Superhog’s guest verification tools help prevent bad guests from booking your property. Prevent Credit Card Fraud: Leo Walton discusses how to avoid fraudulent bookings with effective guest screening processes. Instant Book and Risk Management: Understand the importance of combining guest screening with instant bookings to increase occupancy without increasing risk. Deposit Waivers vs. Damage Waivers: Discover how offering these protective measures can help safeguard your property and increase your revenue. Fraud Prevention and Airbnb Direct Bookings: Find out how Superhog protects hosts from the rising threat of credit card fraud and unwanted guests. Thanks for tuning in to this episode of the Short-Term Rental Riches podcast! We hope you found Leo Walton’s insights on guest screening and risk management as valuable as we did. If you're a short-term rental host looking to protect your property and minimize risk, Superhog's tools and strategies can make a big difference.  Take advantage of StayFi's special offer for our listeners  👉👉👉 50% OFF The First Three Months! Click Here!  👈👈👈 Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

    37 min
  3. 251. Top 8 Riskiest Parties to Host in Your Airbnb: What Every Host Needs to Know

    SEP 3

    251. Top 8 Riskiest Parties to Host in Your Airbnb: What Every Host Needs to Know

    In this episode, we break down the top 8 riskiest parties or events that can happen in your Airbnb. Drawing from years of experience and managing over 40,000 guests, we discuss how to spot potential red flags and what measures you can take to protect your investment. Whether you’re hosting through Airbnb, Vrbo, or another platform, understanding these risks is crucial to maintaining a smooth operation. We cover everything from weddings to spring break parties, offering practical tips to help you manage your vacation rentals effectively. Episode highlights: Music or Concert After-Parties: These events can vary significantly in risk depending on the type of concert attended. Keep an ear out for concerts that could lead to noisy after-parties. Weddings and Wedding Receptions: Large gatherings like weddings can lead to noise complaints, especially if your property isn’t suited for big events. 21st Birthday Parties: Celebrating legal drinking age often involves heavy alcohol consumption, making this type of party particularly risky. College Graduation Parties: These events often involve young adults who might not be fully aware of your house rules, leading to potential disturbances. Bachelor/Bachelorette Parties: High on the list of risky events, these parties often involve large groups and heavy drinking, especially in popular destinations like Nashville. And there you have it—the eight riskiest parties you could host in your Airbnb. Remember, while these events can be challenging, they can also be lucrative if managed correctly. By taking the right precautions, like setting clear house rules and using security tools, you can enjoy the benefits without the headaches. Take advantage of StayFi's special offer for our listeners  👉👉👉 50% OFF The First Three Months! Click Here!  👈👈👈 Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

    12 min
  4. 250. A Successful Airbnb Launch Strategy; Fully booked

    AUG 27

    250. A Successful Airbnb Launch Strategy; Fully booked

    Launching your Airbnb successfully and getting fully booked is the goal of every short-term rental (STR) host. It’s essential to have a well-thought-out strategy that ensures your property not only stands out but also secures those all-important first bookings. In this episode, we’ll walk you through the key elements of a successful Airbnb launch, from taking advantage of the initial visibility boost to optimizing your listing with Airbnb’s new listing discount. These strategies are designed to help you build momentum quickly, so your property stays fully booked and generates consistent revenue. But it doesn’t stop there. To maximize your Airbnb revenue, it’s crucial to understand how to leverage seasonal pricing and diversify your booking platforms. While Airbnb might be your primary channel, expanding your presence to other platforms like VRBO and Booking.com can significantly increase your booking potential. We’ll also discuss the importance of building a strong review base early on, which not only boosts your credibility but also drives more bookings across all platforms. With the right approach, your Airbnb launch can be a major success, setting you up for a profitable year ahead. Key takeaways: Maximize Airbnb Visibility: Leverage the initial visibility boost you receive as a new Airbnb listing to secure early bookings and establish your property in the market. Strategic Airbnb Pricing: Utilize Airbnb’s new listing discount to attract guests while maintaining revenue by adjusting your base price. Experiment with pricing strategies to optimize visibility without sacrificing income. Build Reviews Quickly: Accept shorter stays initially to build up your review base on Airbnb and other platforms like VRBO. A strong review base is critical for gaining trust and boosting bookings. Seasonal Pricing Strategies: Align your property launch with peak seasonal demand and adjust your pricing based on booking windows to capture high-value bookings at optimal times. Diversify Booking Platforms: Expand your property’s presence beyond Airbnb to platforms like VRBO and Booking.com. This strategy helps you reach a broader audience, build reviews on multiple platforms, and secure more bookings. Launching a new short-term rental property in 2024 doesn’t have to be daunting if you approach it with the right strategies. By maximizing your Airbnb visibility, implementing effective pricing strategies, and diversifying across multiple platforms, you can set your property up for long-term success. Remember, the key is not just to get those first few bookings but to maintain a steady flow of guests and build a solid review base that will keep your calendar full all year round. Thanks for watching, and we’ll see you in the next episode! Take advantage of StayFi's special offer for our listeners  👉👉👉 50% OFF The First Three Months! Click Here!  👈👈👈 Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

    16 min
  5. 249. Maximize Your STR Guest Experience with Tyann Marcink Hammond of TouchStay

    AUG 20

    249. Maximize Your STR Guest Experience with Tyann Marcink Hammond of TouchStay

    Today, we've got a real treat for you on the Short Term Rental Riches Podcast. I'm excited to welcome Tyann Marcink Hammond, the queen of guest experience from TouchStay. Tyann's been a powerhouse in the short-term rental industry since 2007, and she’s here to share her extensive knowledge on creating unforgettable guest experiences. From the days of manually uploading photos and waiting for listings to go live to the digital age of seamless bookings and guidebooks, Tyann has seen it all.   In this episode, we dive into the importance of digital guidebooks and how TouchStay is revolutionizing the way hosts communicate with their guests. Tyann explains how a well-crafted guidebook not only enhances the guest experience but also saves hosts time by answering common questions before they even arise.  Episode Highlights Evolution of the STR Industry: Tyann started in 2007, dealing with platforms like Vrbo and Craigslist, witnessing the industry's growth and technological advancements. Importance of Digital Guidebooks: Learn how TouchStay's digital guidebooks can streamline guest communication and enhance their experience by providing essential information right at their fingertips. Effective Communication Strategies: Discover the best practices for timing and methods of communication to cater to different types of guests, from planners to last-minute travelers. Upselling Tips: Explore creative upselling strategies, such as offering charcuterie boards, to increase your revenue and enhance the guest experience. Managing Large Properties: Tyann shares her expertise on handling large family reunions and groups, ensuring smooth operations and high guest satisfaction. Thanks for tuning in to this episode of the Short Term Rental Riches Podcast! We hope you found Tyann's insights as valuable as we did. If you're ready to take your guest experience to the next level, consider implementing some of the tips and strategies discussed today. Don't forget to check out TouchStay for their amazing digital guidebooks that can help streamline your operations and enhance your guests' stay. Take advantage of StayFi's special offer for our listeners  👉👉👉 50% OFF The First Three Months! Click Here!  👈👈👈 Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

    33 min
  6. 248. Boost Your Direct Bookings with Mark Simpson of Boostly

    AUG 13

    248. Boost Your Direct Bookings with Mark Simpson of Boostly

    Welcome back to another exciting episode of the Short Term Rental Riches Podcast! I’m thrilled to have Mark Simpson with us today, the brilliant mind behind Boostly and the acclaimed author of "The Book Direct Playbook." Mark has been a pivotal figure in the short-term rental space, helping thousands of property owners navigate the complexities of marketing and increase their direct bookings. Mark dives deep into the essence of building a sustainable short term rental business by reducing dependency on platforms like Airbnb and Booking.com. His journey, which began in a small community in the UK, has evolved into a mission to empower hosts globally with the knowledge and tools to succeed independently. Mark also shared his insights on the evolving role of social media marketing and the immense potential of email marketing. As technology advances, AI in hospitality is becoming a game-changer, and Mark is at the forefront of integrating these innovations into everyday operations. Whether you're a seasoned host or just starting, this episode is packed with practical advice that can elevate your short term rental business to new heights. In this episode, you'll learn: Direct Bookings Strategy: Learn how to reduce your reliance on third-party platforms like Airbnb by building a strong direct booking strategy. Importance of PMS and Website: Understand why having a property management system and a direct booking website is crucial for your short term rental business. Social Media Marketing Tips: Discover the power of documenting your journey and engaging with your audience authentically on social media. Email Marketing for Rentals: Find out how email marketing can offer an incredible ROI and why it's a must-have in your rental marketing toolkit. Future of AI in Hospitality: Explore how AI can revolutionize customer service in the short-term rental industry and streamline your operations.   Thanks for tuning in to this insightful episode with Mark Simpson! If you found these tips helpful, make sure to grab a copy of "The Book Direct Playbook" for even more valuable insights.  Take advantage of StayFi's special offer for our listeners  👉👉👉 50% OFF The First Three Months! Click Here!  👈👈👈 Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

    43 min
  7. 247. Disconnect to Reconnect: Eric Moeller's Unique Approach to Short-Term Rentals

    AUG 6

    247. Disconnect to Reconnect: Eric Moeller's Unique Approach to Short-Term Rentals

    In this episode of the Short Term Rental Riches podcast, we sit down with Eric Moeller, the visionary founder and CEO of FreeWyld, a groundbreaking hospitality brand. Discover how Eric is revolutionizing the short-term rental market by creating unique, nature-based experiences that help guests disconnect from technology and reconnect with nature. Learn about his innovative wild switch, the importance of direct bookings, and how personal growth has influenced his entrepreneurial journey. Don't miss this insightful conversation packed with actionable tips for short-term rental success! In this episode, you'll learn: Introduction to Eric Moeller and FreeWyld The concept and inspiration behind FreeWyld How the "wild switch" enhances guest experiences Strategies for driving direct bookings through social media Balancing unique experiences with market demands The impact of personal growth on professional success Thank you for tuning in to this episode of the Short Term Rental Riches podcast. We hope you found Eric Moeller's insights as inspiring and informative as we did. If you enjoyed this episode, be sure to subscribe to our podcast and leave us a review. Don't forget to check out FreeWyld at freewyld.com and follow Eric on Instagram and LinkedIn at Eric D. Moeller. Stay tuned for more expert advice and actionable tips on how to build a successful short-term rental business.  Take advantage of StayFi's special offer for our listeners  👉👉👉 50% OFF The First Three Months! Click Here!  👈👈👈 Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

    39 min
  8. 246. Housekeeping Troubleshooting for Airbnb | Managing Housekeepers & Feedback

    JUL 30

    246. Housekeeping Troubleshooting for Airbnb | Managing Housekeepers & Feedback

    Housekeeping is one of those critical aspects that can make or break the guest experience in your Airbnb. After all, nothing beats arriving at a clean, welcoming space that feels like home. But what happens when things don’t go as planned? In this third part of our housekeeping series, we’re focusing on troubleshooting housekeeping issues with your housekeepers or housekeeping company. From handling negative feedback to ensuring reliability, we'll cover the steps you need to take to keep your property in top shape and your guests happy. By effectively managing housekeepers for Airbnb and other short-term rentals, you can minimize issues and enhance the guest experience. 🚀 Highlights in This Episode: Set Clear Expectations: Conduct a thorough walkthrough with your housekeeper, detailing your cleaning expectations and highlighting trouble spots. Use Technology: Utilize apps like Breezeway, Turno, or Properly to manage turnovers and create detailed checklists to ensure nothing is missed. Share All Reviews: Be transparent with your housekeepers about all guest feedback to help them understand what guests are noticing and how they can improve. Ensure Reliability: Confirm your housekeepers' schedules well in advance and ensure they have reliable transportation, especially for weekends and holidays. Set Tolerance Levels: Establish a threshold for negative reviews and reliability issues. If these are exceeded, consider finding a new housekeeper. Housekeeping is a crucial element of managing a successful short-term rental. By setting clear expectations, leveraging technology, being transparent with feedback, ensuring reliability, and knowing when to move on, you can maintain high cleanliness standards and provide an excellent guest experience. Don’t forget to take advantage of StayFi's special offer for our listeners  👉👉👉 50% OFF The First Three Months! Click Here!  👈👈👈 Need help managing your short-term rental and you don’t want to go it alone? Shoot us a message here and we’ll see if we can help. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

    14 min
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4.8
out of 5
116 Ratings

About

Tim Hubbard, successful investor and CEO of a seven-figure short term rental management company shares it all. The insider tips you need to know to acquiring, operating and scaling a successful short term rental business.

Information

  • Creator
    Tim Hubbard
  • Years Active
    2019 - 2024
  • Episodes
    253
  • Rating
    Clean
  • Copyright
    © Tim Hubbard
  • Show Website
    Short Term Rental Riches

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