From 0 to 100 in One Year (Ep. 345)
From 0 to 100 in One Year (Ep. 345)
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 Covered
How Prak got into Airbnb
- Frustrated with long-term renters in investment properties
- Listed 3 units on Airbnb (went from $400/week to $1K/week)
- Share success with other property owners to add clients
How Prak grew to 100 units without marketing
- Drop property management fees by 1% for each referral
- Offer 28-day notice to walk away if anyone not happy
Prak’s top advice for aspiring STR hosts
- Be willing to be on standby 24/7
- Develop passion for delivering excellent product
- Believe in yourself and be BEST in town
What allowed Prak to scale so quickly
- Put systems and processes in place
- Seek out best and do it better
Prak’s approach to documenting processes
- Create templates for every possible guest question
- Property checklist with links to instructions for use
Prak’s suggestions for negotiating discounts
- Offer bottle of wine or 6-pack of beer as alternative
- Don’t take personally (expect from everyone)
How Prak trains his cleaning staff
- Teach how property should look, feel and smell
- Do 2 or 3 cleans with existing staff first
- Provide checklist with clear expectations
Why Prak’s cleaners are invested in doing well
- Reward for good work with cash, gift cards
- Share Airbnb reviews
Prak’s words of wisdom for STR hosts
- Wake up each day with gratitude
- Find lesson in challenging times
Connect with Prak
Resources
Email jasper@getpaidforyourpad.com
