Short Term Rental Empire

Turn one short term rental into many profitable properties with this streamlined, systematic approach.

30
Hrs
Mins
Secs
7
25
21
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:

A companion piece to the short term rental class, this course is designed to expand your business from one property to many, without sacrificing your time or your sanity. You'll know how to use re-order lists to simplify the setup process while still customizing to a specific property. Know how to communicate with and build your team to save you time and please your guests. Automating your systems will be a huge component of your multi-property STR business and this class will help you understand how to do that and what integrations may benefit you the most. The class concludes with growth metrics, measuring the progress of your business correctly will ensure that your STR holdings continue to expand in the most profitable ways.

  • 1

    Pre-Assessment

  • 2

    Introduction

    Short Term Rental Empire begins with a sneak peek at how Randall uses his systems and integrations to handle communications from his guests.

  • 3

    Re-Order List Templates

    By setting up a re-order template, you can easily duplicate the set up of a new property, ensuring you get it furnished, connected, listed, and rented out as soon as possible.

  • Show all 30 segments

    • 4

      Product Order Options and Tips

      Randall streamlines the order process even more with some tips and tools you can use with your new STR orders.

    • 5

      STR Template Q&A

      Our instructor addresses questions on topics like TV size, business accounts and relationships, bulk orders, delivery dates, and QuickBooks.

    • 6

      Your STR Team

      If you're just starting out, you may be doing a lot on your own, but as you expand, you'll need to work with others. This section discusses purchase coordinators and a setup team.

    • 7

      Your STR Team Continued

      Other STR team members may include a maintenance crew, cleaners, security, and possibly runners or a listing manager.

    • 8

      STR Team Q&A

      Questions are answered regarding sheets, cleaners, storage for STR units, and how to get consistent quality from your team members.

    • 9

      Short Term Rental Systems

      What systems can you use to minimize the amount of personal involvement your STRs required of you?

    • 10

      STR Systems - Unified Messaging

      A robust Property Management System (PMS) will assist you with unified listings and messaging, as well as direct bookings.

    • 11

      Payment Integration

      Learn about payment options, payment integration, and how it can work with authorization of guests and signed agreements.

    • 12

      STR Systems - Automatic Messaging

      How is automatic messaging different from unified messaging? And what tools are available in the different PMS platforms and integrations to aid you in communicating with your guests?

    • 13

      PMS Systems Q&A

      Randall answers questions about the systems he uses, including topics like taxes, door codes, and listing creation.

    • 14

      PMS Integration Options

      Integrations can work with your PMS to streamline your STR business and save you time and money. Which ones are the right fit for you?

    • 15

      Automatic Pricing

      Many factors affect the price of your short term rental. Randall covers some definitions and how each of them may change the price you choose to list.

    • 16

      Automatic Pricing Continued

      Understand what settings you can control within the automatic pricing system to ensure you get the best occupancy at the most favorable rates.

    • 17

      AI Responses

      Automating your communication can save you time and stress. Master the AI tools available so you can customize AI responses to your guests.

    • 18

      AI Responses Continued

      While the audience tries to stump the AI with difficult questions, Randall covers the steps he can take to improve his guests' interaction with the AI.

    • 19

      Cleaning Management

      Learn how to find a good cleaner company, outline their tasks, communicate with them and know what processes you can have in place to ease your mind and ensure happy guests.

    • 20

      Question & Answer

      The instructor addresses audience questions about creating guidebooks, AI on various platforms, and when to go around your pre-programmed messages and tasks.

    • 21

      STR Networking

      Understand how you could set up a wireless internet network to streamline management of your STRs and your guests' internet access.

    • 22

      Security & Monitoring

      Security for your STR is vital to protect your guests and your property, and to ensure your house rules are being followed. Learn about the integrations and systems Randall has found useful.

    • 23

      Business Growth Metrics

      This segment explains how to use more than just bank account levels to determine the profitability of your properties. Understanding these metrics is a great way to monitor your success and identify areas to improve.

    • 24

      Growth Metrics, Continued

      Pacing and Average Nightly Rate are two of the metrics you can use to make decisions about your rental pricing and listings.

    • 25

      Communication Review and Q&A

      Communications are monitored by platforms, and a clear understanding of their methods can help you know where to improve. Randall also answers questions about what to look for in purchasing or selling an existing STR and compares various pricing tools.

    • 26

      Acquiring Existing STRs

      Since Randall has successfully acquired several existing STRs and made them profitable, he shares what makes his properties stand out from others and what changes he makes to his new aquisitions.

    • 27

      Q&A Market Saturation & Booking.com

      Our instructor addresses concerns about how to be successful in a market where there are more STRs available than desired. He also mentions the one rule that every STR should enforce.

    • 28

      Q&A Guesty, Guests, and Cleaning

      Our instructor explains why using the Guesty PMS is so helpful to those with many STRs, who want to build that STR empire. He also covers irregular cleaning items, like shampooing the carpets or washing the baseboards.

    • 29

      Q&A and Final Thoughts

      A few final topics are discussed, including toilet paper stamps, when to ask for reviews from guests, and why he prefers to work with larger apartment complexes.

    • 30

      Post-Assessment

  • 30

    Post-Assessment