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Hey guys! This is Richard, founder of

Short Term Rental Secrets .com. Today the

Top five things I wish I knew before I

got started on the Air B&B. I hope you

enjoy. Have a lower minimum night stay

requirement. When I got started I thought

it would be really difficult to have one

or two night minimums and I thought it

would be a pain and I didn't think that

people would book like the Monday

Tuesday night so I thought gee I'm going

to make this a little bit more

convenient and a little bit longer term

and that's going to help me fill up the

entire month if I have a five night

minimum I only need four or five guests

to fill up the entire month. But in

reality what I found is having a shorter

period of time and I typically use

two night minimums means that I have more

guests, more turnover, I have less concern

about those Tuesday, Wednesday periods

because believe it or not people want to

travel. So don't worry about the number

of night minimum unless you're in a

resort place and it's only weekends. But

if you're anywhere that has any sort of

business associated with it or

conferences or events and entertainment

worry not about the middle of the week

as much as you think you might. And what

I found is that's actually increased my

revenue tremendously. I know I've talked

about it a lot is to try dynamic pricing.

I happen to use Beyond Pricing. I think

it's fabulous and if you click up here

you can actually watch an interview that

I did with Ian the founder. But changing

your prices on a daily basis is really

important because there's things that

happen that affects supply and demand,

like if there was a big event happening

in your neck of the woods you wouldn't

necessarily know about it you might get

picked off and leave money on the table

but conversely if there's a big event in

your neighborhood and you can double or

triple your income for two or three

nights that might make your month so

using something like beyond pricing is

fantastic. You can go ahead and in the

comments section will put the affiliate

link where you can sign up for a free

trial we get a little bit of help it'll

help you I highly recommend it. Try

dynamic pricing it'll really make a big

difference for you. The third thing I

wish I knew is just how important

reviews are and how to get them so what

I've learned over time is to ask for

them - it's really easy. Just ask for them.

When I send a guest check-in

instructions at the very end I say: We

really care, we want to earn your 5-star

review, please let me know what we can do

to make

stay better and earn that review.

Likewise when they check out we send a

follow up that says you know we hope you

had a great time please take a moment to

leave us a five star review and just

being real subtle about like - five star

review - it sort of sets their

expectations that lets them know what

you're hoping for, lets them know what

you're striving for, so just ask for it.

What we've found is it really makes a

huge difference. People are more than

happy to do it they just need that

little bit of reminder and once you set

their expectations that you're looking

for a five-star review they actually

give it unless there's something that's

wrong. Now, five star reviews mean a lot

more money in your pocket because of an

SEO perspective. Airbnb is going to put

you up higher you're going to earn super

host status. So you really want that and

the best way to do it like anything else

in life is asked for it. Airbnb is more

than just a booking platform. In fact,

it's an entire ecosystem, it's a universe

of companies that have built their

entire businesses around servicing

Airbnb hosts and guests. Go to the Airbnb

site, check out the partner links. There's

all sorts of companies than services

that connect via API to your calendar

they know who's coming and who's going

and when. So whatever your headache is

whether it's check-in and key drop or

cleaning after they depart you name it -

it's there. The fifth and final tip I

wish I'd known when I started my

business is the importance of instant

book. Make sure that you accept instant

bookings. It will drive more revenue and

if you're concerned use the setting that

I use which limits people the ability to

book on instant book they have to be

Airbnb current guests and they also have

to have favorable reviews so if they've

used Airbnb in the past and other hosts

have rated them favorably that's good

enough for me I automate it. I scale and

it saves me so much back and forth and

waiting and the user experience is

better and I get better placement all

that translates into more revenue for me.

So I hope you found this video helpful.

If you did smash the like button down

here and go ahead and subscribe up here!

We're going to be filming more content

like this that is going to put more

revenue in your pocket. Tips, advice,

suggestions. Stay tuned. There's a lot

more coming. Thanks so very much and have a

great day!