Day In The Life: Rental Arbitrage Airbnb Host

hey everyone so today y'all are gonna get to follow me around a bit um i am going to about four different properties i've actually been to one uh the day has already definitely started um so the point where i'm tagged behind but we're gonna go check out some new properties pick up some keys sign some leases it's really exciting um especially because of everything that we've had to go through after copen so this is like a really positive like new thing for us to get to do at the moment i love getting new properties and touring and seeing the amenities um it's a matter of making sure we get there on time so here we go yeah there we go this is it this is good no idea all right so we are at the lennox west village apartment complex here in uptown-ish area in dallas um when i found out we were getting properties here i was like thrilled um it's such a nice spot and it's also really close to where i live so if i ever need to help with anything it makes my life so much easier for those of you guys who haven't gotten to the opportunity to get to know me at all from previous videos my name is haley i am the director of operations over sean's dallas and fort worth properties um i started with him about two years ago and we have seen so much growth since then it's been like an honor to be a part of it and to witness it uh to have any kind of like play in helping this company grow so um it's something that i feel motivated and excited about and hopefully you guys get to see a lot of that today so let go miss haley i think it went really well i felt very comfortable they're really nice people so i think um especially with everybody's positive attitude and energy we're gonna have a good relationship just from the start so that's always my goal great first impression uh so we are about to tour the property hopefully you'll get to be in on that and see some of the cool uh new things that i get to see for the first time i'm also a big sucker for the fitness centers at every apartment complex because i'm a big gym girl so this one looks really nice [Music] so awesome super glad that you got to be a part of that with us and kind of see the property i think it went really well we bonded it was a fun tour and um off to the next place i suppose yes ma'am hey i've got you on speakerphone and and uh mr alberto is here next to me too so if you have a second i got some reception i've been on a 20-hour um van ride through the middle of nowhere mexico oh geez we just got into the main town so yeah i've got some reception yeah sounds like fun the linux went really good by the way we just finished that little tour it was a awesome process nice a real official roundtable meeting it was it was nice all right well i'm going to let you go and start driving it's raining out here and i kind of want to make sure i'm paying attention yeah have fun all right we'll do thanks talk to you later bye all right let's go to the statler it's a hotel but it's also an apartment complex on the top half um really really nice um we're gonna make sure that we get some good footage you can kind of see how like luxurious this place looks we're getting all brand new furniture to put in as well and i think we're even going to do a little bit of a comparison we're going to try to like spend a good amount of money on one get it really really fancy and then see if we can copy that same look on a budget as well so more creative ideas and things to show you guys on the channel all right let's go anything like any mistakes that you would tell somebody getting into the business that they should avoid ugh um all um there are so many different mistakes that can be made um with airbnb specifically i would say really make sure that you are careful with how you word things um one i just i pay attention to that a lot um with my customer service team in regards to airbnb in particular because a lot of people like to do whatever they can to get some money back um and making sure that you are accurate in what you're advertising and offering on your listing you know i i try to over fluff things too much you know if it's kind of like a more mid-range type of location as far as decor and like you know quality of the complex or like age of the apartment complex i'm not going to say brand new modern luxury i'm going to say something like quaint and warm and friendly neighborhood and that kind of stuff um so like making sure that i'm not i still want it to be positive and i still want to sell it but like i'm being accurate with how i describe the place um and also with how we communicate with guests and how we say things like i don't i i try to under promise and over deliver so if i'm going to commit to doing something is because i absolutely 100 know that if somebody on my staff can't do it i know i can do it myself um and if it's like i can't guarantee that type of thing we're never going to say we will do this it's um you know we'll reach out to like local management and and see if this is something that we can do for you we want to make sure that you have a good experience um so those types of things like basically i'm just trying to cover us liability wise because when we start like directly stating a promise um you know we're advertising something and we don't come through on that then that will automatically entitle that person some kind of like compensation because we said we were going to do something that we didn't actually do um so that's a really big one because it happens all day long every day that i'm constantly having to make sure hey make sure that you say it in this way um so that we don't you know if we can't we can't pull it off then at least we're not we never promised it in the first place um so that's a big one um other than that you know as far as avoiding mistakes i think a lot of it just comes with experience sometimes mistakes are necessary in order for you to learn you know everything you need to learn and not forget about it you know i think that's the biggest reason i know as much as i do is because i've suffered from a lot of mistakes and learned from every single one of them and so whenever something like that comes around again in the future i recognize it and i know okay hey when this happened last time i did it this way and it didn't work so now i'm gonna do it this way you know um so don't be afraid to make mistakes but try your best to really think um about like you know how people can be and do what you need to to like protect your business rosie asks what systems do they have in place for smoother process ie crm and of new properties yes i love this question um what's what's her name again rosie rosie thank you for asking that question it's something that i love to talk about um so as a growing company because we have so many listings i have been pushing for stuff like this from day one um i'm very big on being organized and having like a smooth flow of operation so finding something like a crm has been huge we are actually working with a channel manager and once we get all of our stuff uploaded onto it we're definitely going to be talking to you guys all about the company um and hopefully you know refer you guys to use it as well and you guys would hopefully like it too i uh just recently the most big big like success that i'm like wanting to kind of brag about just because of it's been months trying to get it to work this way and i finally got it to work um i have a phone system now for my customer service team which has been huge it makes their lives easier and also the customer service experience better too like we are a business we're not like a private owned airbnb right so people have like these unrealistic expectations well now i've set it up where like our brand pad suites is is right in their face the second they call us it's a prompt now where they call um the number on our listing and it takes them to an option where you know it'll say hey thank you for calling pad suites we're so excited to be hosting you if you need this press one if you need this press two so then they kind of like it helps their mindset and they understand you know you're not trying to get a hold of like someone who owns the thing and lives next door you're getting a hold of a business so they have more realistic expectations plus it makes it easier to direct them to get to the right department or like customer service rep in regards to whatever issue they they need resolved or question that they need answered i also included a prompt in there for airbnb support so if airbnb calls us they know this is also that this is a business and that i direct them actually to message us on the platform i hope i can upgrade this little phone system at some point where um i can get a special phone number specifically to airbnb but i don't want guests to have access to it so i'm kind of stuck at the moment um but i ended up using google suites to do that um they have an upgraded version for businesses for google voice um the free version of google voice is okay i noticed it was a little glitchy we were trying to use and that's why we tried to upgrade because we couldn't seem to get like a consistent flow of phone calls like the right city manager or you know if someone's trying to check in and getting into the customer service people it's a little messy um so we paid a little extra to have something a bit more functional for our team um and it is going really well so far we just launched it like a week ago i'm excited um but yeah so uh that is one that's completed and then the channel manager is what we're working on now um to keep all of our like inbox and flow from airbnb and other channels um or like listing booking websites um to kind of keep it in one same inbox and one same calendar everything being in one place and uniform it makes it everybody else on the whole team and all of our departments flow a lot easier so i'm looking forward to that and excited about it and when we finish it we'll definitely be launching a video to share more about it with you so jeremiah asks how do you handle the right bookings um direct bookings so we don't get a ton of them at the moment um i know there will be more in the near future especially with the channel manager and our own website that we'll be launching for now i just have to block them off on the calendar and my customer service team kind of like really creates like a good organized little flow for themselves um they're more called reservations coordinators they do more than just customer service you know they help with the calendar and and um um alteration requests and all that kind of stuff so we just block the calendar and we make a note on those dates of who is physically there we'll say direct booking their name and probably their phone number as well so that if we need to get a hold of whoever's in that apartment um it's really easily accessible since they're not actually their information's not recorded in airbnb or any other site so that's kind of how we're currently handling it's a simple way um but i think we'll have a more official version uh fairly soon do you have a guest sign-in agreement to house rules and terms and things like that yes yes i'm very strict on house rules um not only are they on a listing but we also send it to them and make sure that they write in consent in the message thread yes i have read and understand all the house rules and agree to them i love how strict airbnb likes to uphold those but as we all know but we do whatever we can to make sure that we we have done our part making all of our rules super clear i think whenever we have our own website too we'll have like an official contract like a legally binding document too is like like terms and agreements types of stuff so um type of stuff type of thing um which i'm looking forward to i i like things to be really official um as much as possible that made no sense [Laughter] my favorite tactic actually is to be getting referrals from my good housekeepers so um people who have had experience if i can nail at least one or two really good housekeepers that have worked in a housekeeping business before and have friends or previous coworkers that they can vouch for um i love love love referrals we even um in a time of need we'll throw out some referral bonuses you know like hey if you have a friend who does a good job and they stay with us we'll give you an extra little bonus for bringing them on board with our team that's my favorite way and then i think most commonly you know especially right now during cove there's a lot of people out there looking for jobs so i advertise a lot on facebook and with people on facebook jobs who kind of reach out to us we will if they don't have experience we'll start them out a little bit less and have them train with our more experienced people and they can get raises based off of performance after that cool hopefully that answered the question all right we are here we have arrived let's go inside and check out this really nice place i did talk to them in advance um they are not going to allow us to record in the leasing office so we're going to respect that but definitely going to show off some of the other aspects of the building um and talk to you about how the meeting went afterwards so here we go [Music] okay so we just left uh the statler and there was a company that was previously occupying that building i'm sure sean's talked about it a lot stay alfred and they left all their furniture behind this isn't something we've been talking with the statler for a while and it only just occurred to them that i need furniture as well and they need to get rid of the furniture and they literally just offered for us to take it all i am i feel like i've hit the jackpot and i haven't even had the opportunity to talk to my boss yet i haven't got to call sean i've tried he's out in mexico right now so he doesn't always have a signal i'm trying a little bit later and see if we can get a hold of him but just like the anticipation and excitement to let him know about how cool this is and how much money we are just gonna obtain um in furniture and save is like goodness gracious i'm so excited today has been an exciting day it's really not even over yet i still have plenty more to do but thanks for following me around for the first half and it's been an adventure lots of great news and new findings i also want to make sure that you guys know if you don't already that i am taking calls on clarity too so if you're interested in speaking with me one-on-one asking for some advice on operations and things like that i'm happy and excited to help teaching and coaching is actually one of my passions too so just please go ahead if you're interested click on the link below and we can schedule a call thanks you guys [Music]

Channel: Airbnb Automated

Views: 13,416

Rating: 4.8344226 out of 5

Keywords: how to airbnb, day in the life, rental arbitrage, how to host, making money, how to make money, make more money, short term rentals, how to, managing property, managing teams, is airbnb hard, vrbo, air bnb, airbnb tips and tricks, airbnb tips, airbnb tips host, airbnb host, real estate 2020, real estate market 2020, real estate market, investing in real estate, real estate ideas, side hustle ideas, side hustle, extra income, how to get rich, vlog, successful female

Id: _MNFJmo_IK4

Length: 15min 3sec (903 seconds)

Published: Mon Oct 12 2020