Short Term Rental Secrets Podcast
by MICHAEL SJOGREN
Latest Business Ideas
STR Listing Optimization Tool
Market Gap: Hosts often overlook the importance of listing optimization.
This business idea involves developing a software tool specifically designed for short-term rental hosts to optimize their listings across platforms like Airbnb and VRBO. The tool would provide a checklist and automated suggestions based on best practices for creating engaging property listings. It could analyze current listings and provide feedback on aspects such as photo quality, descriptions, and pricing strategies. By leveraging data-driven insights, the tool would help hosts enhance their visibility and attractiveness to potential guests. This concept is inspired by the emphasis placed on listing optimization during the podcast, showcasing the gap in current offerings for hosts.
From: Ep 261 - Revenue, Scaling, and the Traits of Successful STR Hosts with Matthew Mcdonald
Calendar Management App for STR Hosts
Market Gap: STR hosts struggle with time management and task organization.
This idea focuses on developing a calendar management app tailored for short-term rental hosts. The app would allow hosts to schedule tasks, set reminders for important deadlines, and manage their bookings in one place. It could feature integrations with popular STR platforms and provide analytics to help hosts understand their time allocation and efficiency. By using this app, hosts can create a structured approach to their daily operations, ensuring they stay on track with their goals and responsibilities. This aligns with the insights shared in the podcast about the importance of time management for STR success.
From: Ep 261 - Revenue, Scaling, and the Traits of Successful STR Hosts with Matthew Mcdonald
Revenue Management Training Platform for STR Hosts
Market Gap: Many short-term rental hosts lack effective revenue management skills.
The idea is to create a comprehensive online training platform specifically designed for short-term rental hosts that focuses on revenue management. This platform would offer courses, webinars, and tools that teach hosts how to set competitive pricing, analyze market data, and optimize their listings. By providing a structured learning experience, hosts can gain the skills necessary to manage their properties independently, reducing reliance on third-party revenue managers. This platform could include features such as community forums, mentorship, and ongoing support to ensure hosts feel confident in their revenue management abilities. This concept builds on the insights shared by Matt McDonald, who emphasizes teaching hosts how to handle revenue management themselves.
From: Ep 261 - Revenue, Scaling, and the Traits of Successful STR Hosts with Matthew Mcdonald
Dynamic Pricing Tool for Vacation Rentals
Market Gap: Property managers struggle with adjusting prices dynamically.
The business idea is to create a dynamic pricing tool specifically tailored for vacation rental property managers. This tool would analyze competitor prices, local demand, and occupancy rates to suggest optimal pricing adjustments that incorporate new fees like Airbnb's 15% charge. By leveraging algorithms similar to those used by existing platforms like PriceLabs, property managers would be able to set prices that not only cover increased costs but also maximize occupancy and revenue. The target audience would be property managers and co-hosts who are directly impacted by fee changes and need to remain competitive without sacrificing profitability.
From: Airbnb’s 15% Fee Change Explained: What Hosts and Managers Must Do | The STR Scale Show with Mike Reilly | Ep 27
Commission Structure Consultative Service
Market Gap: Property managers lack clear strategies for communicating fee changes.
This business idea revolves around offering a consulting service focused on helping vacation rental property managers develop clear communication strategies regarding commission structures and fee changes. The service would provide templates, messaging frameworks, and coaching on how to effectively explain the implications of fee changes to homeowners. By equipping property managers with the right tools to communicate these changes, they can maintain homeowner trust and satisfaction, ensuring long-term partnerships. The target audience includes property managers looking to improve their client relationships and communication around financial changes.
From: Airbnb’s 15% Fee Change Explained: What Hosts and Managers Must Do | The STR Scale Show with Mike Reilly | Ep 27
Emotional Connection Marketing Course for STR Hosts
Market Gap: STR hosts lack skills to emotionally connect with potential guests.
Create an online course specifically designed for short-term rental hosts that focuses on building emotional connections with potential guests. This course would teach hosts how to effectively communicate their unique stories, understand the emotional drivers of their target audience, and craft marketing messages that resonate. The curriculum could include modules on storytelling, understanding guest psychology, and creating authentic content that reflects the host's personality. By empowering hosts with these skills, the course aims to enhance their competitiveness in the market and foster deeper relationships with guests, leading to increased bookings and repeat customers.
From: Ep 260 - Marketing Frameworks Every STR Host Can Steal with Chris Crawford
Content Creation Framework for STR Marketing
Market Gap: STR hosts struggle to produce engaging content consistently.
Develop a structured content creation framework tailored for short-term rental hosts to simplify the content generation process. This framework would guide hosts in creating authentic, engaging content that reflects their unique properties and experiences. By setting manageable goals for content production, hosts can overcome the paralysis of perfectionism and instead focus on sharing their stories. The framework could include templates, prompts, and best practices, making it easier for hosts to connect with their audience emotionally. This approach not only aids in marketing but also builds a stronger community around their brand, enhancing guest loyalty.
From: Ep 260 - Marketing Frameworks Every STR Host Can Steal with Chris Crawford
Community-Driven Marketing Platform for STR Hosts
Market Gap: STR hosts struggle with standing out in a crowded market.
Create a community-driven marketing platform specifically for short-term rental hosts. This platform would facilitate connections among hosts, allowing them to share experiences, strategies, and best practices. Additionally, it could include features for collaborative marketing efforts, such as joint promotions or referral programs. By fostering a strong community, hosts can enhance their visibility, build trust with potential guests, and ultimately drive more bookings. The platform could also include educational resources on effective marketing strategies tailored to the STR market, further empowering hosts to improve their offerings and market presence.
From: Ep 260 - Marketing Frameworks Every STR Host Can Steal with Chris Crawford
Targeted Marketing Service for STR Owners
Market Gap: STR owners lack effective marketing strategies to attract bookings.
Create a targeted marketing service tailored for short-term rental owners that helps them optimize their listings and reach potential guests effectively. This service could include comprehensive market analysis, listing optimization strategies, and promotional campaigns designed to enhance visibility on various platforms. By leveraging data insights and the 'UI method' mentioned in the episode, the service can identify underperforming properties and provide recommendations for improvement. The target audience includes individual STR owners and property managers looking to boost their occupancy rates and revenue.
From: Cohosting 101: How to Start and Scale a Sustainable STR Business | The STR Scale Show with Mike Reilly | Ep 25
Property Management Pitch Deck Template
Market Gap: New property managers struggle to create effective client proposals.
Develop a customizable pitch deck template specifically for property management and cohosting services in the short-term rental market. This template should include sections for market analysis, service offerings, revenue projections, and unique selling propositions. By providing a structured format, new property managers can easily fill in their details and present a professional image to potential clients. The target audience would be individuals looking to start or grow their property management business. The template could be marketed through online courses, webinars, or as a downloadable resource on a website focused on short-term rental management.
From: Cohosting 101: How to Start and Scale a Sustainable STR Business | The STR Scale Show with Mike Reilly | Ep 25
Recent Episodes
Ep 261 - Revenue, Scaling, and the Traits of Successful STR Hosts with Matthew Mcdonald
Host: Brad
3 ideas found
Airbnb’s 15% Fee Change Explained: What Hosts and Managers Must Do | The STR Scale Show with Mike Reilly | Ep 27
Host: Mike Reilly
2 ideas found
Ep 260 - Marketing Frameworks Every STR Host Can Steal with Chris Crawford
Host: Manolo Lepani
3 ideas found
Cohosting 101: How to Start and Scale a Sustainable STR Business | The STR Scale Show with Mike Reilly | Ep 25
Host: Michael Sjogren
3 ideas found
Ep 259 - Why STR Is Just the Vehicle to Building True Freedom
Host: Emanuele Depani and Mike Riley
Ep 258 - Analyzing STR Markets and Deciphering the Numbers with John Bianchi
Host: Emanuele Lepani
Ep 257 - Why Getting Sick Taught Steve Resnick the Real Goal of STR
Host: Michael Sjogren
3 ideas found
Do You Really Want It? Lessons on Grit and STR Growth | The STR Scale Show with Mike Reilly | Ep 25
Host: Michael Sjogren
3 ideas found
Ep 256 - Why 95% of STR Deals Fail—and the 10 Hospitality Rules That Make the Rest Win
Host: Emanuel Pani
3 ideas found
Ep 255 - How Two Investors Scaled from Co-Living to 80 STRs with Blake Anthony Carter and Jeremy Courtney
Host: Michael Sjogren
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