EP 255: Save time vetting your STR guest

biggerpockets entrepreneur investher investing investor realestate womeninconstruction womeninfinances womeninrealestate Mar 29, 2022

We spend all our time assessing ourselves - if our property offers value, if our prices make sense, and if we are good hosts. However, let’s not forget to assess our guests too.

In this episode, Liz and Andresa point out the significance of having a vetting process and how this saves a lot of time and headache.

Andresa breaks down the helpful strategies to apply to attract your ideal guest. She highlights how we can utilize the property description to list down every single detail and have those laid out as clearly as possible. This way, there is no confusion and complaints. On top of that, she suggests having the guests sign an e-contract.

Jump right into the show and learn the tactics to a better position in short-term rentals so both you and your guests can have a smooth experience.

 

Quotes

• “If you don't have a vetting process in place, believe me, you're going to be matched with somebody that is going to cause so many troubles.” (1:25 - 1:35)

• “Put it [description of a perfect STR guest] everywhere, because people might miss it. And they might bring a pet to your place that it's not allowed. So have it all the descriptions laid out as clear as possible.” (3:00 - 3:14)

• “At the end of the day, it’s your property, your liability.” (7:51 - 7:55)

• “I have a standard contract…and everybody seeing the property needs to sign it electronically… I believe it had allowed me to save a lot of trouble I’d never had to do any repairs on the property because it was all established there.” (8:05 - 8:29)

• “Where do I go for breakfast? What do you recommend? Like, all those questions, if you're getting started in short-term rent… All of those questions are great. Do something with them, put them in your SOPs.” (11:25 - 11:39) 

• “[Put] recommendations for restaurants, and stores and entertainment, all of it, online and in paper, both. Save a ton of time and have so much fun doing this and a ton of profit at the end of the day.” (11:44 - 11:59)

 

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