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All Money, Ain't Good Money


It's true: All Money, Ain't Good Money, especially in the STR business. You can keep listening to these social media influencers if you want to. Your ass will be broke, replacing a lot shit by 'subscribing' to some of their nonsense! Bottomline! Listen. To. Your. Gut! They (Platforms)... whomever "they" are... suggestively sell us on maximizing our booking reservations by signing up for multi-platforms or have, while we can barely manage what we currently have effectively or efficiently. There is a lot to this business. Let's face it - everything is a process. And so shit, we learn the hard way!


There is no reward for one-nighters. They are just not worth it! Period! No matter what, who, when, why, or where! One-night stands are never worth the trouble. Often you do not even clear enough income to cover costs, especially when you got someone coming in after them. Look, there's always the risk of some bad apples when renting your home. With the success of platforms comes an increase in “Problematic Guests.” Those PGs arrive with a different agenda than relaxing and enjoying your place. That's why you have to vet your guests accordingly. At the end of the evening, it is our responsibility to do what we can to protect not only ourselves but also our neighbors and guests. No reward is worth risking negative reviews of these different platforms like Airbnb, Booking.com, Vrbo, and many others, travelers take advantage of these services, and unfortunately, not all of them are the kindest guests for hosts to deal with. Some of the platforms vet their guests better than others. As hosts, we need to be able to manage their risks in real-time. Though these platforms are supposed to filter out the bad apples, a few reservation platforms conduct poor fruit inspection! Those rotten pieces of fruit that slip through the cracks are the guests who are likelier to break the rules, cause damage, and create problems and sometimes even chaos for you!


No matter how excellent our services are as hosts, Super Hosts, SuperDuper Hosts, or whatever your host status is! No matter how great our amenities and decor are If we don't have a solid risk management strategy implementation to ensure our guests respect the rules of our homes, it could cost us dearly. Our risk is coined "STR3R" Short-Term Rental Revenue, Reputation, and Reviews. All three cost time and we know time is money. It all boils down to how you want to spend your time.


Answer this would you rather ~

  • Would you rather have peace of mind knowing your home is ready for the following 2-day, minimum, bringing in enough to cover the cleaning and management costs?

Or

  • Would you rather have the one-nighter that broke the rules and ripped the stair rail off the wall (true story- I can't make this shit up)! Then you have to get that work repaired in record time and didn't even make enough to cover cleaning and management costs.

That being said, hosts can take three specific steps to ensure PGs stay away.

  1. Respect your intuition! If your gut tells you anything - LISTEN TO IT!

  2. Resist the instant booking! Practice turning it on and off! It provides you with the benefit of muscle memory. You will know that it is working for you better this way!

  3. Recreate opportunity. Create 2-day stay minimums! STOP those LAST-MINUTE ONE-DAY STAYS. Remember: NOTHING GOOD COMES FROM A ONE-NIGHT STAND!

Let's go, hosts! Knowledge is power!

The O'Canoe Houz Blog



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