Introduction to Short Term Rentals

Short-term vacation rentals are an exciting new strategy, following current trends and providing great opportunities to earn a profit.

38
Hrs
Mins
Secs
6
5
23
SEGMENTS DURATION
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INSTRUCTOR

HUGH ZARETSKY

Hugh Zaretsky has successfully taught and trained over 10,000 real estate investors to complete profitable real estate transactions by investing in single family, multi-family and commercial properties. He has been training investors/students for 12+ years. Hugh is a published author and has co-authored books with Bob Snyder and many of his successful students. Hugh also taught and trained licensed attorneys, real estate agents/brokers and mortgage brokers to think like real estate investors as a Continuing Education Instructor.

Description:

This real estate strategy is taking the world by storm, and you can benefit from the millions of dollars being spent on nightly (airBnB style) vacation rentals. Hugh sets you up for success by explaining the Shared Economy and the 7 most common mistakes people make. He shares the things you need to consider when buying rental properties and how they differ from typical real estate investments. Hugh also takes the class online to examining the various vacation rental websites, analyzing their pros and cons. The secret to making money, the perfect listing, is covered in depth, from wording to staging and photography. Make sure your guests know what to expect and have all their needs met, so every review is positive. Hugh also covers the various members of a vacation rental team, why you need one and how to find the right people for the job. Nightly Rentals provides everything you need to know to make this trending industry a valuable piece of your investment portfolio!

  • 1

    Pre-Assessment

    This Pre-Assessment is to raise awareness of your current knowledge level and give you a glimpse of the information covered in this course.

  • 2

    Introduction

    Nightly rentals is a strategy that has the capability of providing massive income, by renting out a furnished property for short periods of time.

  • 3

    Instructor Background

    Hugh Zaretsky, a PAC member and Renatus Instructor, came from a humble background and has a strong portfolio in real estate investing.

  • Show all 38 segments

    • 4

      Instructor Background Continued

      Hugh shares some of his experience with real estate foundations, marketing and, more recently, nightly rentals.

    • 5

      Course Outline and The Shared Economy

      Ride-sharing, house-sharing, and even plane-sharing, are all components of the shared economy.

    • 6

      How The Shared Economy Changed Things

      Hugh discusses some of the pros and cons of vacation rentals, including privacy, cost and reliability.

    • 7

      Long Term Rental Comparison

      Short term rentals (30 days or less) can be very different from typical long-term rentals, with the possibility of earning higher profits, but sometimes requiring more of your time.

    • 8

      Mistakes to Watch For

      Know what choices to make and which situations to avoid, from poor photos to slow responses.

    • 9

      What to Consider

      There are specific factors that strongly affect your vacation rental business. Think about local legislation, economy and destination locations.

    • 10

      Drop a Pin on It

      Use a digital map to determine what customers your property will attract. Become familiar with all the events and popular destinations in the local area.

    • 11

      Drop a Pin Continued

      Our instructor discusses the research you need to conduct and how to pull together the information you need to make the best decisions.

    • 12

      What Your Renter Cares About

      Parking, school districts and major roads that may have deterred typical home owners, can earn a significant discount on a property that is ideal for a vacation rental.

    • 13

      Rental Layout Exercise

      Hugh uses a property example to show the class layout options for a vacation rental.

    • 14

      CMAs To Determine Nightly Rentals

      A Comparable Market Analysis is key to determining what amount of profit your property has the potential to earn.

    • 15

      Neighbors Not Neighborhoods Matter

      Consider the effect that your renters, and their noise, will have on nearby neighbors, especially when finding property to purchase.

    • 16

      Recap

      A quick review of class content reminds us of the importance of knowing local laws, travel destinations and customer preferences.

    • 17

      Pros and Cons of Vacation Rental Sites

      Airbnb, VRBO and TripAdvisor are three of the biggest vacation rental websites that Hugh explores.

    • 18

      Pros and Cons, Continued

      Each site has benefits and drawbacks. This segment helps you determine which one is the best fit for your vacation property.

    • 19

      Managing Your Listing

      The strategies you use to manage your property can influence the profit you keep from your property. Hugh also introduces the female-positive, male-neutral concept of decor.

    • 20

      The Key To Staging

      Hugh discusses balancing design and function in the best way to appeal to largest number of renters.

    • 21

      Photography

      Photography is key to creating the perfect listing. It's your first impression, and has the power to attract more customers.

    • 22

      Creating Your Listing

      The instructor introduces H.I.T.S.,  the steps you need to take to create a solid and attractive listing for your vacation property.

    • 23

      Creating Your Listing With Headlines

      Learn how to choose the most effective words and the best image to headline your listing.

    • 24

      Headlines Continued

      Offer your renters a "retreat" or "villa" with speedy WiFi to grab their attention on vacation rental websites.

    • 25

      First Responder Market

      Take advantage of this strategy's flexibility, by making the most of your phone and being consistently and immediately available.

    • 26

      First Responder Example

      Hugh answers questions from the live audience about responding quickly and setting rental prices based on peak vacation seasons.

    • 27

      Managing Guest Expectations

      Use email to keep your guests informed about their transportation options, building entry and cancellation policies.

    • 28

      How Reviews and Ratings Work

      Vacation rental websites all offer review and rating systems. Learn how to get your renters to give you the best reviews.

    • 29

      Question and Answer Reviews

      Questions about reviewing your renters are covered, and Hugh poses the question "Would you rather be right or would you rather be rich?"

    • 30

      Becoming a Super Host

      Airbnb has a category of owners called Super Hosts. Learn about the benefits of this title and how to earn it.

    • 31

      Your Welcome Guide

      What should you include in your welcome guide? And is it better to use a physical paper copy or a digital version?

    • 32

      Your Vacation Rental Team

      Your vacation rental team can make or break your business. Hugh shares details about cleaners, customer service, unit inspection and technology.

    • 33

      Monthly Unit Inspections and Kitchen Checklist

      A checklist for each room ensures you provide a consistently peaceful and enjoyable experience for your renters.

    • 34

      Bathroom Checklist Tool and Maintenance

      This segment continues to provide checklists of items and services that should be included and maintained in each part of the unit.

    • 35

      Automating Your Business

      More than just booking your vacation rental can be handled automatically. Know what services are worth the cost.

    • 36

      Guides Suggestions and Updates

      Hugh addresses questions from the live class members about repeat customers and referrals.

    • 37

      Rental Rate Comparables and Final Thoughts

      A demonstration with the Airbnb website answers class questions about determining prices.

    • 38

      Post-Assessment

      This Post-Assessment is to measure your increased knowledge and see how much information you have retained from the course.

  • 38

    Post-Assessment

    This Post-Assessment is to measure your increased knowledge and see how much information you have retained from the course.