Vacation Rental Airbnb Management From Beginner To Pro

Learn how to professionally manage Vacation Rentals and Short Term rentals (AirBNBs, VRBOs) from the experts from VRU

Last updated 2022-01-10 | 4.4

- Operate multiple vacation rental properties at a professional level.
- Avoid costly mistakes getting started in vacation rentals or on AirBNB
- Generate profits very quickly

What you'll learn

Operate multiple vacation rental properties at a professional level.

Avoid costly mistakes getting started in vacation rentals or on AirBNB

Generate profits very quickly

Understand how to build on the principles taught here to scale into a larger business.

* Requirements

* A desire to learn about Vacation Rental and Short Term Rental management
* Everything will be defined and taught from the very basic level through to the more advanced subjects

Description

Here you will cover several lessons that will introduce you everything you need to know to start managing a vacation rental (or multiple!), and how to get started with your first properties. Our goal is to help you get a jumpstart into managing in your market to begin making profit very quickly. Watch the basic level lessons to get the knowledge required to have initial success, then progress to the more advanced levels to scale and master the business!

This course will make you a professional vacation rental manager, but once you've mastered this please join us at Vacation Rental University to see over 50 hours of additional content going extremely deep in each subject.

Who this course is for:

People who are new to managing Vacation Rentals, short term rentals, (VRBO, AirBNB) and want to see rapid success!
REALTORS who are interested in how Vacation Rentals work so they can sell more properties.
People who think they are interested in Vacation Rentals or AirBNB's so they can decide if the work fits their lifestyle and personality.

Course content

6 sections • 47 lectures

Introduction to Vacation Rental Management 7 lectures

Introduction Preview 05:29

Welcome to Vacation Rental University's (thevru.com) basic level lessons. Here you will cover several lessons that will introduce you everything you need to know to start managing a vacation rental (or multiple!) at a professional level, and how to get started with your first properties. Our goal is to help you get a jumpstart into managing in your market to begin making profit very quickly.

Defining Vacation Rentals Preview 06:42

Tune into our first lesson to gain knowledge about vacation rentals. You will learn what vacation rentals are and what to expect when you start managing them. Watch now to see why this industry is a customer service business that accidentally manages properties!

Data Driven Processes and Decision Making Preview 09:33

In this lesson we will touch briefly on our processes and why we focus purely on data to drive decision-making and automation as much as we can in the vacation rental industry. Paying attention your data can help you be unemotional when you need to make changes like lowering rates to capture more occupancy in your market. Watch now to learn more.

Legality and Insurance Preview 05:51

This lesson explains a list of crucial steps to take before considering managing a vacation rental home. Various laws and restrictions that governments have placed on your property’s location must be understood in advance. Comprehending the types of insurances you will need in order to become a business can aid you in the long run. Watch to obtain more knowledge about vital steps to take ahead of time.

Cash Flow vs. Profit Preview 14:05

In this lesson we will be comparing and analyzing the difference between cash flow versus profitability in relation to the vacation rental industry. Watch now to define these terms and understand how each play a huge role in the growth of your company.

Business Expenses Preview 05:13

You will be covering the basics about the financial management and banking processes your business needs to advance and be lucrative. Learn about the significance of recording legitimate business expenses and discover how this can benefit you in the future.

Bookkeeping Preview 07:58

In this lesson we will be briefly covering the topic of bookkeeping. Take notes as we provide you with some important key tips that will help you to begin tracking your expenses and income. Tune in now to discover why your property management software is not considered an appropriate tool to produce financial and accounting.

Getting Started - your first steps! 5 lectures

How to Get Your First Rental Preview 06:10

In this lesson Micah teaches on where to get your first vacation rental unit. Whether its a property you already own or managing a second home from someone else, let us provide you with basic tips on how to acquire your very first rental property.

Staging and Preparing Your Property Preview 07:01

Tune in to get informed about the best email templates and communication tactics for dealing with guests. Keeping up good communication is key when it comes time to begin building up your drip campaign to attain loyal customers. Absorbing the details of this lesson will help your business to grow as more and more guest return due to your excellent services. How exciting to watch your vacation rental company flourish right before your eyes!

Using a Property Management System (PMS) Preview 06:12

Property Management Software (PMS) is the main software that holds all your property information. In this lesson discover outrageously important factors to consider when choosing a PMS for your Vacation Rental Company.

Setting Up a Property In the PMS Preview 04:15

In this video you will discover not only how to list on online travel agencies (OTAs), but also how to list them all at the same time very efficiently. Click play to understand how to organize and manage this process for your listings.

Property Descriptions Preview 04:37

Get comfortable with writing property descriptions and learn to understand why they are so important in the vacation rental industry. This lesson will cover the specifics around writing a great property description. Watch now!

Revenue - Marketing & Reservations 8 lectures

Where to Get Bookings? Preview 01:31

Bookings are going to be what ultimately drives your revenue and keeps business coming. In this lesson learn where and how you can get your property listed in a matter of days to start generating bookings right away!

Online Travel Agencies (OTAs) Preview 12:11

In this basics lesson will teach you about the importance of being listed through a PMS on major OTAs out there such as Homeaway, Booking.com, and AirBnB. Tune in now to discover a lot more on the details surrounding OTAs!

Reservations - Theory and Process Preview 25:47

In this lesson explore the theory of taking reservations and how this relates to a seamless sales process with guests. We will teach you the three main types of inquiries and the advantages and disadvantages of these kinds of inquiries. Tune in now to learn different ways of handling each type of inquiry to help your potential clients find the perfect vacation rental property!

Rates & Competitive Rate Analysis Preview 18:30

Get to understand the basics of a competitive rate analysis and it’s definition. Learn different tactics on how to check out your competition and figure out what people are doing right around you that have similar units to you in regards to rates so you know exactly how to compete and generate max $$.

Marketing Locally Preview 05:04

Don’t forget that you live in a nice local community and there are communities surrounding you that need you what you offer. Let us provide you with a couple ideas of where you can market locally; it may not be your most valuable market, but a lot of various types of people need rental homes to reside in and they may as well use you!

Direct Bookings Preview 03:01

The only ways to get what you want is to inspect what you expect! This tip is crucially important in the vacation rental business because you have to frequently inspect your properties. Vacation Rental University will provide you with the tools to help you from managing your cleaners to how to perform an inspection.

Social Media Preview 03:57

We will cover some basic tips to help you start using social media. If you aren’t connected in social media platforms we highly consider you get connected to keep your business relevant in this new technological era – learn how to start right here!

Blogging Preview 04:21

Tune in now to receive different tips and writing techniques when formulating marketable blogs. Learn about various things such as the importance of how long a blog should be to the content that should appear within your written work.

Managing the Business of Vacation Rentals 13 lectures

Key Costs to Watch Preview 11:55

This lesson will cover the basics on a few key costs to watch. As a beginner you need to start tracking various costs such as OTA booking fees, housekeeping costs, time spent on the phone, cancellations, and fixed overhead. Explore in greater about what triggers these key costs and how to stay on top of them.

Prioritize Your Business Preview 06:27

In this lesson you will learn why it is important to prioritize your business in the mental way that you conceptualize time. Analyzing where your time is spent and figuring out ways to make subtle improvements on a daily basis will keep your business operations controlled. Watch more on why being instantly reactive to minimal problems will notably improve your business long term. This lesson is what separates success from failure in the sometimes chaotic vacation rental business (the land of 3,000 feathers).

Things to Prepare BEFORE Going Live with Your First Property Preview 10:00

Every time you are about to take a property live you need to be prepared. Here we will give you a few things that you need to have prepared before launching your first property, or really any property in general.

DOUBLE CHECK EVERYTHING! Preview 03:48

We encourage you to make sure you double check everything and review each exercises in this Basics course before you take the first unit live! If there is anything that you are unfamiliar with or unsure about reviewing it a second time can ensure that you don’t make simple mistakes.

PMS Reminders! Preview 04:33

This lesson provides you with a couple of reminders on how to effectively use property management software (PMS) and why it is important. If you don’t have a PMS we encourage you to apply this into your business practices immediately!

What to watch for AFTER Going Live Preview 10:28

This lesson will cover what to do after you’ve launched your property. Get to understand a few things to do on a monthly basis after you go live such as categorizing your major income and expenses as well as the importance of building your guests list for remarketing.

In The Field (Operations) Preview 09:38

The utilization of mobile operations and technology is a vital tool for property managers to take advantage of in the vacation rental industry. Familiarizing yourself with up to date technological devices will help you to better mobilize your services, as most property managers and management need to be extremely mobile. Phone applications are amazing tools that can help you access information on the go!

Communication Preview 08:10

In the vacation rental industry, good communication is the most effective way to quickly grow your property management business. Today there is so much readily available technology that can help optimize your business that you need to know about to improve problem areas. Learn about the importance of automated systems and how they update the productivity of your company’s communication processes.

Simplify Communications Preview 09:28

In this lesson you will learn about what you need to communicate and how to do it best towards different employees, inspectors, and owners. There is a constant flow of communication within this management industry therefore you need to keep it simple and concise. Watch this lesson to get acquainted with various ways to stay on top of it all.

Financial Review Preview 04:02

Get informed about the importance of reviewing your financial statement monthly. This lesson will teach you how to decide which expenses can be categorized as business or as personal. Tune in to prevent a mess at tax time!

Key Performance Indicators (KPI) - Daily Preview 05:15

Key Performance Indicators (KPIs) allow for a way of tracking the most importance parts of your business to get an idea of where you are improving or worsening. Apart for the emotional side of handling clients, most processes in managing can be done scientifically with data acquired from booking revenue to review scores. Explore what we suggest you track daily to give you an indication of the state of your properties.

Key Performance Indicators (KPI) - Weekly Preview 05:58

Learn about the importance of tracking your pace report weekly and the particular factors within your pace report that you need to continuously collect data from. Vacation Rental University encourages you to start tracking your data, collecting it, writing down your goals, determine how you got there, and then use that information to continually build a successful business. Watch now to let us teach you where you can improve!

Key Performance Indicators (KPI) - Monthly & Annual Preview 07:29

In this lesson we will be covering monthly and annual reporting and tracking of KPIs. At Vacation Rental University we want to help you with using collected data to help you set goals, track goals, meet goals, and then set higher goals for yourself when you see improvements taking place.

Guest Management 8 lectures

Booking Payments Preview 04:31

This lesson covers all the methods of booking payments involved in renting out a vacation rental property. Discover the types of payments that will need to be made, the appropriate timeline in which to charge such payments, and the importance of guest comprehension of these rules and regulations ahead of time. If you’re here to make money, taking a payment is where the rubber meets the road!

Additional Revenue Opportunities Preview 04:44

There are tasks and items that you can make additional revenue from bookings on, either before a guest checks in or during check in. In this lesson you will learn how it is possible to build a whole additional section of your business around servicing the guests while they are in the unit by selling them additional necessities. Watch now and grow your bottom line!

Email Templates for Guests Preview 13:38

Guest Communication and Access Preview 05:48

Understanding the importance of customer service is a crucial component of vacation rental management. Within this section you will gain knowledge on various strategies and steps to take in advance to create the best experience possible for guests. Click play to learn how to get that five star review!

Property Automation (Tech) Preview 11:44

This lesson will present you with an array of automatic electronic devices that can reduce human intervention to a minimum. Technology such as home automation systems and security cameras can create a low touch very efficient property management business.

How to Handle Guest Check-ins (Turns) Preview 09:13

As the success of your property management company heightens, so will the intensity and frequency of guest check-ins. In this lesson you will learn about all the little details to focus on when trying to prepare your property for a new guest. Remembering every necessity from Wi-Fi passwords to toilet paper will set you apart as an accomplished manager.

24/7 Service Preview 02:39

You must be prepared for around the clock service in the vacation rental industry. You will be successful when you’re constantly readily available to guests to fix problems or concerns they address. Tune in to learn the best solutions to correcting guest issues in as timely a manner as possible.

Reviews Preview 03:21

In this lesson we will discuss the basics of getting reviews and why they are so important. Reviews are essential for effective marketing and having them builds trust in the marketplace. Discover why it’s so important to get reviews and how to generate great ones right away!

Managing Property Owners & Growth 6 lectures

Prospecting for New Property Owners Preview 09:15

You’ve got your first few properties, but you want more to expand your business! In this basics lesson we will teach you about where to prospect for more property owners to add to your portfolio. Watch now to discover critical ways that can help you build your business.

Owner Contract or Rental Management Preview 15:26

Discover the basic information you need to know about owner contract or rental management agreements. You will learn about what is in them, what it all means, and how you can perhaps build them for your own company.

Owner Statements Preview 14:32

This lesson discusses what is supposed to be on an owner statement as well as why we do owner statements and the reason behind some of the items located within these statements. Watch now to learn the two reasons why these statements are so important, even at the basics level!

Property Owner Emails and Communication Preview 01:46

Learn from Micah as he teaches us about the importance of maintaining thorough communication with your property owners. An owner has entrusted you to manage their property and expect consistent reassurance that everything is running smoothly.

Firing Property Owners (for growth!) Preview 09:02

Discover when and why it is sometimes necessary to fire homeowners. Tune in to get some tips, techniques and methods on how to gracefully fire homeowners. Most importantly learn how to fire an owner so that you business is profitable.

Scaling your Business Preview 05:30

Get to understand yourself within this business and whether you’re ready to dive head first into expanding your company and it’s services. In this lesson we will cover some questions that you need to think about when really deciding if you want to scale your business. Let us help you to get ready by learning systemization and understanding how to build solid business structures for duplication.