Many companies are shifting their employees to working remotely, allowing many people the flexibility to live more of a nomadic lifestyle.
This has led the 30-plus day stays to become the fastest growing category on Airbnb right now.
But what are the pros and cons? And is it profitable?
Toby Doré currently manages over 20 units in ‘Cajun Country' downtown Lafayette, Louisiana, and has over 5000 reviews on Airbnb. He's also a full-time sports psychology professor at the University of Louisiana and writes the travel blog, “The Cajun Traveler. Toby was in the first class of Legends X. His story appears in the book, Hospitable Hosts: Inspiring & Memorable Stories From Airbnb Hosts Around The World To Educate & Motivate.
On this episode of Get Paid for Your Pad, Toby joins me to discuss how he transitioned his properties to 30-day plus stays during the pandemic to keep his business alive and why he's keeping them there in the fastest growing category on Airbnb.
Listen in as Toby shares the two biggest lessons he's learned from having his properties in the 30-day plus leasing model, how he uses his travel blog as a marketing tool for his STR business, plus some important tips about LTR leases.
- The importance of contracts, leases, and tenant's rights
- Where Toby found 100% of the leads for his pandemic long-term rentals
- The biggest disadvantage of the 30-day leasing model
- The key difference between regular contracts and arbitrage contracts
- Toby's pricing strategies for managing both his 30-day leases and his STRs
- Why having a blog about your STR market is a powerful marketing tool
- Why Toby decided to get involved in the Hospitable Hosts book project
- The 2 biggest lessons Toby learned when he transitioned to the 30-day+ leasing model
- The important connections Toby made through Legends X