From 0 to 100 in One Year

So, you want to scale a short-term rental (STR) property management company. But how do you find new clients? And how do you manage tens or even hundreds of units? Airbnb host Prak Sangthong grew from 0 to 100 listings in a single year, and he didn’t spend any money on marketing. How did he do it?Prak is the Cofounder and Managing Director at Easy Home Rentals, an Airbnb property management company based in Perth, Australia. Frustrated with long-term renters who damaged their investment properties and drained their profits, Prak and his wife decided to list a few units on Airbnb. And within a year, Prak was managing a STR portfolio of 100 units for property owners in Western Australia.On this episode of Get Paid for Your Pad, Prak joins me to explain how he went from 0 to 100 units in just 12 months—without formally marketing his property management business! He describes how setting up systems helped him scale so quickly and what he does to train his cleaning staff and reward them for good work. Listen in for Prak’s insight on negotiating discounts in COVID season and learn how YOU can be the best STR host in your market—and charge accordingly.Topics CoveredHow Prak got into AirbnbFrustrated with long-term renters in investment propertiesListed 3 units on Airbnb (went from $400/week to $1K/week)Share success with other property owners to add clientsHow Prak grew to 100 units without marketingDrop property management fees by 1% for each referralOffer 28-day notice to walk away if anyone not happyPrak’s top advice for aspiring STR hostsBe willing to be on standby 24/7Develop passion for delivering excellent productBelieve in yourself and be BEST in townWhat allowed Prak to scale so quicklyPut systems and processes in placeSeek out best and do it betterPrak’s approach to documenting processesCreate templates for every possible guest questionProperty checklist with links to instructions for usePrak’s suggestions for negotiating discountsOffer bottle of wine or 6-pack of beer as alternativeDon’t take personally (expect from everyone)How Prak trains his cleaning staffTeach how property should look, feel and smellDo 2 or 3 cleans with existing staff firstProvide checklist with clear expectationsWhy Prak’s cleaners are invested in doing wellReward for good work with cash, gift cardsShare Airbnb reviewsPrak’s words of wisdom for STR hostsWake up each day with gratitudeFind lesson in challenging timesConnect with PrakEasy Home RentalsPrak on LinkedInResourcesSTR LegendsEmail [email protected] Hosted on Acast. See acast.com/privacy for more information.