Short term Rentals

Start your Short Term Rental business off right with these step-be-step instructions for finding, setting up and managing your STR property.

27
Hrs
Mins
Secs
6
44
16
SEGMENTS DURATION
More Classes
INSTRUCTOR

Randall Cloud

Randall was originally a staff member at Renatus and began working with Bob Snyder in 2011. While in that position he implemented the Renatus education to free up cash flow, pay off large debts and acquire new properties. He became a full-time real estate investor and is experienced in fix and flips as well as short term rentals. After aquiring, managing and increasing profit in 24 STRs in a 2 year period, Randall has returned to Renatus as an instructor for the Short Term Rentals class, using his success with systems, integrations, and communications to share valuable information with our students.

Description:

Learn how to keep your short term rentals profitable even during a market slump with the information provided in this class. You'll know how to find the right properties for your brand and what to do to acquire those ideal properties in a way that benefits you, an owner, and your guests. Understand the most efficient way to set up your ideal new STR and what you should provide to make a visitor's stay more pleasant for them and for you. Learn how to market your property through listings and manage the day-to-day operations with a PMS. With the information, tools and tips from this class, you'll be on your way to effectively and profitably managing your short term rental.

  • 1

    Pre-Assessment

  • 2

    Introduction

    Meet Randall Cloud, the instructor of the Short Term Rentals class and learn how he became interested, experienced and successful managing multiple STR properties.

  • 3

    Benefits of Short Term Rentals

    Short Term Rentals are unique in the world of real estate investing and have many pros and cons for the STR investor. Understand the upside of this investment type.

  • Show all 27 segments

    • 4

      Benefits of STRs for Owners & Communities

      Did you know STRs can benefit not only you and the guest, but also the property owner and the community?

    • 5

      Finding Short Term Rental Properties

      Whether you choose to own your STR property or lease it from another owner, there are a few key factors to consider when searching for that ideal property.

    • 6

      Finding STRs Online Examples

      Knowing how to find the STR regulations for a specific city, state or location is vital when you're deciding which properties are your best fit.

    • 7

      Talking To Potential Landlords

      The instructor shares his conversation starter for reaching out to potential new STR owners. Learn what he says and why.

    • 8

      Class Members Practice and Q&A

      Students must take the template to the next step as they personalize it to fit their investing style and goals.

    • 9

      Acquiring And Funding

      Even though setting up a short term rental can be less expensive than a typical investment property, it still takes money. How can you be better prepared to acquire and fund your STR?

    • 10

      Negotiating Your Lease

      Lease arbitrage can be a lucrative STR method if you get the lease agreement customized to meet the needs of you and your guests.

    • 11

      Q&A About Types of STRs

      Short term rentals can be owned or leased, single family or apartments, 1 room or a full 50-bedroom estate. What type fits your ideal guest?

    • 12

      Setting Up STRs And On Location Video

      The instructor walks students through one of his STRs, pointing out several features of the apartment and why he chose it.

    • 13

      On Location Video Part 2

      The walk-through video continues with specifics about the technology he uses and how he caters to different guest types.

    • 14

      Setting Up Product Selection

      Consider the cost of quality items vs. cheap products, the ease of maintenance for you and your cleaner, and the best way to set up and install your furnishings and decorative items.

    • 15

      Setting Up Q&A

      Randall discusses setting up TVs, working with cleaners, how to provide reliable internet, and the cost and time it takes to set up a brand new average STR.

    • 16

      Platforms and Photos

      Learn about the 3 main STR listing platforms, which one may be best for you and how they integrate with the many other smaller platforms to appeal to your ideal guests.

    • 17

      Listings, Photos & Descriptions

      A listing can make or break your STR property. Learn how to do it correctly to increase traffic and the likelihood of keeping your occupancy high.

    • 18

      Reviews

      What kind of reviews do you need to get the right guests? And how can you increase the number of your guests who leave positive reviews?

    • 19

      Marketing Q&A

      The instructor addresses concerns about photos, listing descriptions, review corrections, and instant booking.

    • 20

      More Marketing Q&A

      The questions continue and Randall handles issues like which platforms his guests use most to book with him and when to do paid marketing.

    • 21

      Communicate With Your Guest

      From creating a guest guidebook to automated responses and personal texts, Randall shares some of the successful ways he has provided information for his guests.

    • 22

      Guide Your Guest

      Once you know what questions your guest is likely to ask, choose to provide the answers early on and easy to find, so they never have to.

    • 23

      Protecting Your STR

      Typical insurance may not provide the coverage you need as an STR business owner. Learn about the different ways you can protect your property.

    • 24

      Pricing Your STR

      What is your STR worth per night, when should you raise or lower the price and what tools are available to help you make these decisions?

    • 25

      Short Term Rental Q&A Pt. 01

      Randall addresses questions including how to reduce challenges when using booking.com, the best ways to gather ID and a signed agreement, and why STRs may be an ideal way for a new, inexperienced real estate investor to get started.

    • 26

      Short Term Rental Q&A Pt. 02

      The final questions of the class include using different prices for different platforms, communicating via AI, and how to handle damage done to a property by guests.

    • 27

      Post-Assessment

  • 27

    Post-Assessment