Alex and Pooh respond to a question about a drop in bookings for their serviced accommodation, caused by increased competition and decreased demand. They give advice and actionable tips on what to do if you find yourself in this situation including why being consistently proactive is essential.

https://airbnbconsultant.co/

KEY TAKEAWAYS

• To be competitive in the Airbnb space you have to be proactive, you can’t just expect bookings to come in.
• Too many serviced accommodation courses aren’t giving hosts the tools and education they need to market effectively.
• Make sure you are listed on OTAs but also look at other ways to be listed too, such as being listed with relocation companies.
• Go through your existing client list and simply call them.
• Do your research to learn more about your existing client base, this can be in the form of simply asking those who stay with you why they are travelling/staying in your accommodation.

BEST MOMENTS

"No longer can you just take on a unit, put it on Airbnb sit back and wait for the bookings to roll in”

“Any kind of portal that can get your visibility up to the market”

“It’s quite sad how much basic stuff isn’t getting done when people are in the serviced accommodation space”

HOST BIO

Alex & Pooh have built a portfolio of over 16 Serviced Accommodation Units and 10 Buy-To-Lets collectively over the last 5 years.

This AirBnB Business has allowed each of them to create their own tailor made ‘lifestyle by design’.

Pooh chose to escape the corporate life as an electrical engineer instead to spend his time at home with his young and growing family, and Alex likes to spend most of his time in sunny Spain enjoying his love for road cycling or even hiking in the Tramuntana mountain ranges.

CONTACT US

Facebook - https://www.facebook.com/alex.mannock/

Instagram - https://www.instagram.com/theairbnbnomadspodcast

TikTok - https://www.tiktok.com/@theairbnbnomadspodcast

YouTube - https://www.youtube.com/@Lifebeyondbroke/

Alex interviews Wendy Brumwell, a former professional figure skater turned commercial property developer. Wendy shares her incredible journey from the ice rink to the boardroom, offering invaluable insights into the world of commercial property development. Wendy's story of resilience, adaptability, and success will inspire you to chase your dreams and think big in the world of real estate.

https://airbnbconsultant.co/

KEY TAKEAWAYS

• Commercial property development can be a game-changer for financial freedom, but it requires education, confidence, and relationship-building with agents to source the best deals.
• Starting with smaller commercial projects, like shop conversions or barn developments, can be a great way to gain experience and build credibility before tackling larger developments.
• Diversifying your property portfolio with a mix of cash-flowing strategies (like serviced accommodation) and long-term commercial projects can provide a balanced approach to property investing.
• Building relationships with agents is crucial in commercial property development, as many lucrative deals never make it to the open market.
• The mindset and discipline learned from professional sports can be successfully applied to business and property development, as explored in Wendy's book "A Successful State of Mind."
• Women in business can benefit greatly from networking and support groups, like Wendy's "Ladies Latte" meetups, which provide encouragement, accountability, and valuable connections.
• Commercial property development projects typically take longer to complete (12-18 months), so it's important to have strategies in place for cash flow during the development process.
• Mental health and personal challenges are a normal part of the entrepreneurial journey, even for successful individuals, and it's important to acknowledge and work through these issues.

BEST MOMENTS

"I think for me, when I was at school, I was kind of like doing my school work and I was at school during the day, but then I had no time really to do anything else apart from go to the rink outside of school."

"I think you almost want a cash flowing strategy and also your commercial running alongside it. And I think that's where there's probably a nice opportunity in like service accommodation combined with commercial."

"I think we're often kind of limited, aren't we? By our own financial thermostat. But sometimes when we see it from the other side, actually, it's going to be worth it for an investor, for them to invest."

"I honestly believe that to me, there is absolutely no logical explanation as to why kids right up to leaving high school, don't know what a credit card is, don't know what mortgages are, don't know what cash flow is."

"I have up and ups and downs in my journey. Like most of us, because, you know, sometimes things go really well. Sometimes they don't, and you know there's kind of things that not just go on in your property and your business world, but also like your, your, your private, your personal and your private life as well."

ABOUT THE GUEST

HOST BIO

Alex & Pooh have built a portfolio of over 16 Serviced Accommodation Units and 10 Buy-To-Lets collectively over the last 5 years.

This AirBnB Business has allowed each of them to create their own tailor made ‘lifestyle by design’.

Pooh chose to escape the corporate life as an electrical engineer instead to spend his time at home with his young and growing family, and Alex likes to spend most of his time in sunny Spain enjoying his love for road cycling or even hiking in the Tramuntana mountain ranges.

CONTACT US

Facebook - https://www.facebook.com/alex.mannock/

Instagram - https://www.instagram.com/theairbnbnomadspodcast

TikTok - https://www.tiktok.com/@theairbnbnomadspodcast

YouTube - https://www.youtube.com/@Lifebeyondbroke/

In this episode of the Airbnb Nomads Toolbox, hosts Alex and Pooh tackle the pressing issue of preventing parties in short-term rentals. Responding to Ivy from Woken's question, they offer practical advice on maintaining order in Airbnb properties. From leveraging technology to setting smart pricing strategies, they talk about the proven methods to avoid troublesome guests and maintain positive relationships with neighbours.

https://airbnbconsultant.co/

KEY TAKEAWAYS

• Implement staggered minimum night stays, increasing the required length for bookings further in the future to discourage party-seekers and attract more responsible guests.
• Utilise technology like noise sensors (e.g. Minut) and Ring doorbells to monitor activity and detect potential rule-breaking behaviour in your rental properties.
• Set appropriate pricing to attract your target market and avoid undercutting yourself, as extremely low rates can attract problematic guests and reduce overall profitability.
• Cultivate positive relationships with neighbours by introducing yourself, explaining your business, and providing contact information to address any concerns quickly.
• Thoroughly vet potential guests by reviewing their information, speaking with them directly, and trusting your instincts about potential red flags.
• Install exterior cameras and lighting to monitor the property's surroundings without infringing on guest privacy inside the rental.
• Be cautious during slow seasons and resist the temptation to accept questionable bookings that could lead to problems and damage your reputation.
• Understand your specific market and adjust your strategies accordingly, as what works in one location may not be suitable for another.

BEST MOMENTS

"A lot of people do it and they do it successfully, but there is no way that you can possibly argue the point that you are not more at risk of having parties by offering one night stays.”

"Go over to your neighbours and really like put in the effort to get to make friends with those guys. When you take the property over or when you take on a rent on a rent to rent or whether you're managing it or buying it, whatever it is, the first thing you should do is go over to your neighbour’s house."

"Your gut feeling is always right. So if the gut feeling says, you know, I'm not sure about this booking, that's probably right."

"Once you build that relationship over the phone, there's less chance that, you know, I would say it's not guaranteed, but there's less chance that they're going to mess around in the property."

HOST BIO

Alex & Pooh have built a portfolio of over 16 Serviced Accommodation Units and 10 Buy-To-Lets collectively over the last 5 years.

This AirBnB Business has allowed each of them to create their own tailor made ‘lifestyle by design’.

Pooh chose to escape the corporate life as an electrical engineer instead to spend his time at home with his young and growing family, and Alex likes to spend most of his time in sunny Spain enjoying his love for road cycling or even hiking in the Tramuntana mountain ranges.

CONTACT US

Facebook - https://www.facebook.com/alex.mannock/

Instagram - https://www.instagram.com/theairbnbnomadspodcast

TikTok - https://www.tiktok.com/@theairbnbnomadspodcast

YouTube - https://www.youtube.com/@Lifebeyondbroke/