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This Podcaster Generated 1 Million Downloads While Traveling to 80 Countries (with Tim Hubbard) — Transcript

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  1. 0:00Most podcasters think longer episodes
  2. 0:02win. Tim Hubard went the other way. His
  3. 0:0611-minute show, Short-Term Rental
  4. 0:08Pitches, pulled nearly a million
  5. 0:10downloads and became the main way
  6. 0:12clients find his property company,
  7. 0:13Cororsley. In this episode, Tim shares
  8. 0:16why a short episode can outcon convert a
  9. 0:19long one. You are an important part of
  10. 0:22how this show reaches the people that
  11. 0:23need it. Please share it with someone
  12. 0:25you love. Leave a quick review, hit
  13. 0:27like, and comment in our YouTube
  14. 0:29comments. Each one helps it get found.
  15. 0:32Thank you for that.
  16. 0:35Welcome to the Podcasting Secrets Show,
  17. 0:37where successful creators share their
  18. 0:39best stories, secrets, [music] and
  19. 0:41strategies. I'm your host, Nathan
  20. 0:43William.
  21. 0:45Hello, incurable creators. My guest
  22. 0:48today is the CEO of Cororsley and one of
  23. 0:50the most experienced operators in the
  24. 0:52short-term rental world. He's built a
  25. 0:54personal portfolio of more than 70
  26. 0:56rental units across multiple countries,
  27. 0:58managing more than 100,000 guests
  28. 1:00through his company, and he hosts one of
  29. 1:02the top STR podcasts in the industry,
  30. 1:05Short-Term Rental Riches, which has
  31. 1:08nearly 1 million downloads. Please
  32. 1:10welcome Tim Hubard.
  33. 1:12>> Pleasure to be here. Thanks for having
  34. 1:13me, Nathan.
  35. 1:15>> So, Tim, can you share with us something
  36. 1:16that most people don't know about you?
  37. 1:18>> Well, that's a good question. Um,
  38. 1:21>> how about where you live? Okay. Yeah, I
  39. 1:24live in Brazil. I live in Brazil. Um, a
  40. 1:27lot of people through the podcast know
  41. 1:29that I I've lived in South America
  42. 1:31actually for like the last eight or nine
  43. 1:33years, but I have I have traveled a lot.
  44. 1:36I think most people probably don't know
  45. 1:38I've traveled to like 80 countries or
  46. 1:40something like that. Goodness. I've
  47. 1:42gotten gotten around quite a bit.
  48. 1:44>> So, of those 80 countries, which have
  49. 1:46been your favorite to visit?
  50. 1:49>> Yeah. Um, Brazil is is definitely up
  51. 1:52there. Um, you know, every place is
  52. 1:55unique and there's always nice things to
  53. 1:58take away from every place, but Brazil I
  54. 2:00really love. So, that's definitely one
  55. 2:01of my top. Um, I love I love Southeast
  56. 2:05Asia as well. Uh, South Africa I think
  57. 2:09is amazing place. Budapest is amazing.
  58. 2:13Uh, before Brazil, I I spent a lot of
  59. 2:14time in Colombia. I really like
  60. 2:16Colombia. It's got like a a piece of my
  61. 2:18my life with it, you know, and history.
  62. 2:21So, I think those are those are some of
  63. 2:22my top top favorites.
  64. 2:24>> Yeah. I I share with you a passion for
  65. 2:27Brazil. I I served a mission there for
  66. 2:29two years. And uh and then since the
  67. 2:32mission, I think I've returned 25 times
  68. 2:34and I've helped create four or five
  69. 2:36different businesses. And I just I love
  70. 2:38the Brazilian people. That's my favorite
  71. 2:40part of of Brazil. Just phenomenal
  72. 2:42people.
  73. 2:44>> They are. Yeah. for anyone that hasn't
  74. 2:46been there, you you can just feel the
  75. 2:47energy, I think, kind of the moment you
  76. 2:49arrive. It's a it's a great place. It's
  77. 2:52a great place.
  78. 2:52>> Yeah.
  79. 2:54[sighs] Can you tell me about your
  80. 2:57business?
  81. 2:58>> Yeah. So, um I've been in real estate
  82. 3:00for a long time. I guess 16 years now. I
  83. 3:03started in in the long-term rental
  84. 3:06investment side of things. Um, I worked
  85. 3:09as a commercial broker, uh, and then
  86. 3:12helping with investment sales in
  87. 3:14Northern California, where I'm from
  88. 3:16originally, and I was traveling a lot.
  89. 3:19So, I've always I've always kind of
  90. 3:20traveled, and that's how I discovered
  91. 3:23Airbnb. I was staying on there, you
  92. 3:25know, way back in the day. Um, and I
  93. 3:28decided to change my investments from
  94. 3:31long-term rentals to short-term rentals
  95. 3:32after I saw the opportunity and sort of
  96. 3:34never looked back. So, I've been doing
  97. 3:36that for a long time and that brought me
  98. 3:38out of California to to some other
  99. 3:40states and eventually outside of the US.
  100. 3:44I have a project down in Colombia as
  101. 3:46well and I started a podcast along the
  102. 3:50way about six years ago just talking
  103. 3:52about operations and they're they're
  104. 3:55short solo episodes and it was really
  105. 3:58just about my portfolio because a lot of
  106. 4:00people have been asking like, "Hey, how
  107. 4:01are you managing your properties from so
  108. 4:03far away?" and and getting good results.
  109. 4:06And so started talking about that and
  110. 4:09then kind of naturally a lot of people
  111. 4:10were asking reaching out from the
  112. 4:12podcast and saying, "Hey, can you help
  113. 4:14can you help with our properties?" And
  114. 4:16so we doing that about three years ago
  115. 4:18and that um is what Cororsley is today.
  116. 4:21And and Cororsley in short, the name
  117. 4:24comes from this idea of us being this
  118. 4:26core operating center behind all of our
  119. 4:29partners and uh owners properties. So,
  120. 4:32we're the ones that talk to all the
  121. 4:33guests. We're the ones that list their
  122. 4:36properties and manage all the pricing.
  123. 4:38And we do that all virtually. And so,
  124. 4:39today we're in we're in dozens of
  125. 4:41cities. And uh it's been a lot of fun.
  126. 4:45>> Why are short-term rentals so much
  127. 4:47better of an opportunity than long-term
  128. 4:49rentals?
  129. 4:51>> They're not always. Uh so, you know,
  130. 4:53there's a really big range with
  131. 4:55short-term rentals. I mean, literally
  132. 4:57everything from like a lakeside mansion
  133. 5:00to a treehouse. You can't get much more
  134. 5:02diverse when it comes to to property
  135. 5:05types. Um, but not all of them do well
  136. 5:08and not all markets are are equal. You
  137. 5:10know, some markets have more opportunity
  138. 5:12than others. And for me, it really just
  139. 5:15came down to a numbers thing. So, I was
  140. 5:16actually looking to invest in some
  141. 5:18long-term rentals. And I was staying in
  142. 5:21a city, uh, Memphis and Tennessee, which
  143. 5:23you wouldn't expect to be a good place
  144. 5:25for short-term rentals. and I had rented
  145. 5:27an Airbnb and I was looking at long-term
  146. 5:29investments and I knew how much I was
  147. 5:31paying per night and I knew how much uh
  148. 5:34the the long-term rental properties cost
  149. 5:36and how much the Airbnb cost and just
  150. 5:39made sense. So, started doing that and
  151. 5:42um you know, a lot of things have
  152. 5:44changed in the short-term rental world
  153. 5:45over the last 11 years. Uh but I think
  154. 5:48there's still a lot of opportunity. Um
  155. 5:51but it really does come down to
  156. 5:52operations today. So, a big difference
  157. 5:53with short-term rentals is you can have
  158. 5:56almost identical properties like same
  159. 5:58size, amenities, same neighborhood, and
  160. 6:01one property can be doing two or three
  161. 6:03times better than their neighbor.
  162. 6:05Whereas with a long-term rental, you
  163. 6:06don't really have that. You know, if you
  164. 6:07have like a four bedroomedroom, two bath
  165. 6:09home, maybe it rents for $2,500. You're
  166. 6:12not going to be able to rent your
  167. 6:14neighbors for 5,000. It just doesn't
  168. 6:15work that way. So,
  169. 6:18>> so why do two properties right next to
  170. 6:19each other do so much better? better
  171. 6:21marketing, better furniture, amenities.
  172. 6:26>> Yeah. So, if if you had like two
  173. 6:28identical short-term rentals right next
  174. 6:30to each other, the way that people find
  175. 6:32short-term rentals is through Airbnb or
  176. 6:34Booking.com or PBO, you know, a bunch of
  177. 6:37different platforms online. And the way
  178. 6:39that you show up on those platforms is
  179. 6:41really based off your review scores.
  180. 6:44That's what determines a lot of your
  181. 6:45visibility. And so if you don't do a
  182. 6:47good job with the operate operations,
  183. 6:49then you don't get a lot of visibility
  184. 6:51and then less people are finding you and
  185. 6:53less people are making reservations. So
  186. 6:54>> and then you have to charge less
  187. 6:57>> and then and then you have to charge
  188. 6:58less. Yeah. So it's really it comes down
  189. 7:01to that like having really good
  190. 7:02operations but also managing your
  191. 7:04pricing well and like you can have all
  192. 7:07the operations really dialed in and have
  193. 7:09great reviews but if you're charging too
  194. 7:11much uh or you know maybe you're not
  195. 7:13charging enough and you're leaving money
  196. 7:15on the table. So revenue management
  197. 7:17becomes a lot more uh important than it
  198. 7:20than it would in like the long-term
  199. 7:22rental world,
  200. 7:23>> right?
  201. 7:25You talked about some markets being a
  202. 7:27lot better than other markets. What are
  203. 7:28some of the best markets today?
  204. 7:31>> Yeah, that's a good question. Um, a lot
  205. 7:33of people I guess I I get this question
  206. 7:35all the time, you know, and there's like
  207. 7:37I don't know thousands of of markets in
  208. 7:39the US. I can tell you some of the ones
  209. 7:41that aren't as good and those are those
  210. 7:45are the ones that people traditionally
  211. 7:47think about when they think about
  212. 7:48short-term rentals and it's mainly
  213. 7:50because there's just so much competition
  214. 7:52now. So, you know, places like Panama
  215. 7:54City Beach, Florida or Dest, or the
  216. 7:57Smoky Mountains. These are places that
  217. 7:59have seen like thousands of new
  218. 8:02short-term rentals come on on the
  219. 8:04market. It's not to say that you can't
  220. 8:05do well in those properties because
  221. 8:07again, like things are very inefficient.
  222. 8:09There's some people that are way
  223. 8:11outperforming others, but as a as a
  224. 8:13general on the market, um there's pretty
  225. 8:16easy way to find out using data that's
  226. 8:19available today. You can go to a tool
  227. 8:20like AirDNA and you can look at the
  228. 8:23amount of new properties that have come
  229. 8:24onto a market and you can look at their
  230. 8:27occupancy and their average daily rates
  231. 8:29over the last couple years. And if
  232. 8:31there's thousands of units coming on
  233. 8:33board and the occupancy and the daily
  234. 8:35rates are staying strong, then you know
  235. 8:37that that market's supporting new units.
  236. 8:39But if thousands of units have come on
  237. 8:41and the prices have dropped and occupies
  238. 8:44dropped, then you know there's there's a
  239. 8:45lot increased competition and the
  240. 8:47demand's just not there.
  241. 8:49>> Yeah. So talk about this podcast and and
  242. 8:52how has your podcast helped support your
  243. 8:55business? [snorts]
  244. 8:56>> It's really been the foundation for our
  245. 8:58business. Um because you know I was
  246. 9:01we're managing our partners' properties
  247. 9:03the same way that we manage my
  248. 9:05properties. You know Corsley manages my
  249. 9:07properties as well. And I literally just
  250. 9:10talk about how we're managing properties
  251. 9:13on the show. You know each week is like
  252. 9:15a bite-size episode on some piece of the
  253. 9:18operation to help others that are doing
  254. 9:20it themselves as well. And I think after
  255. 9:23you listen to the show for a while, you
  256. 9:25realize like, oh my gosh, there there's
  257. 9:27a lot of pieces to this operation. And
  258. 9:30so I think the podcast has just given us
  259. 9:32credibility. It's given us the track
  260. 9:34record. Um, and it's really the main
  261. 9:38avenue for people joining us today.
  262. 9:41[snorts] Your episodes are only 11
  263. 9:44minutes long, which is pretty short for
  264. 9:46an episode. Why did you pick that
  265. 9:48length? and and how does that format
  266. 9:51work well for your audience?
  267. 9:54>> When I started years ago, I was looking
  268. 10:00for something honestly to just be easy,
  269. 10:02you know, uh I wouldn't have to schedule
  270. 10:04things out. I could talk about what I
  271. 10:07already knew, you know, and and things
  272. 10:10happening in the business. And so, I
  273. 10:12guess it was out of laziness, you know.
  274. 10:14I I enjoy talking to other people for
  275. 10:17sure. Um, but it it is a little easier
  276. 10:21to, you know, to knock out four episodes
  277. 10:24when I can just sit down and record on
  278. 10:26four topics that we've been doing day in
  279. 10:28and day out in the business and not have
  280. 10:30to coordinate anything.
  281. 10:31>> You you drilled down to a pretty
  282. 10:33specific niche. Can you can you tell us
  283. 10:36about choosing that niche and kind of
  284. 10:38why you chose that niche and and how
  285. 10:40that's been beneficial?
  286. 10:42>> So, I guess it's two-part. I I chose it
  287. 10:46simply because the investment returns
  288. 10:48were better, but I also found it more
  289. 10:50exciting, you know, working in the
  290. 10:52long-term rental side of things. Like
  291. 10:54you paint every property the same color,
  292. 10:56you put the same flooring in, you know,
  293. 10:59someone moves in, they move out a year
  294. 11:01or two years later. And short-term
  295. 11:03rentals were something that I was
  296. 11:05personally staying in for years and I
  297. 11:07still do today, uh, you know, throughout
  298. 11:09my travels and everything. And so it was
  299. 11:11it was just more fun. So, it made more
  300. 11:13money and more fun, but it's also a new
  301. 11:17niche or new industry, you know, at
  302. 11:19least it was 11 years ago. And it's more
  303. 11:23inefficient. And so, a lot of times when
  304. 11:25there's more inefficiencies, there's
  305. 11:27more room for opportunity. Uh, and I
  306. 11:29think there still is today. Like, it's
  307. 11:31still very inefficient. Um, and so,
  308. 11:34yeah, we're excited. I feel like we're
  309. 11:36kind of just getting started.
  310. 11:38>> [snorts]
  311. 11:39>> You've had nearly a million downloads
  312. 11:41and that's a huge milestone. What has
  313. 11:44been your secret to success for growing
  314. 11:46and marketing and promoting your
  315. 11:47podcast?
  316. 11:49Um, I'm sure part of the numbers come
  317. 11:52from the fact that they are short
  318. 11:53episodes, you know, and if someone
  319. 11:55enjoys one of them, they can they can
  320. 11:57listen to four or five on a an hour
  321. 11:59commute. Um, so I'm sure that plays part
  322. 12:02of it. Um, but I guess you know people
  323. 12:05that are actively in the industry,
  324. 12:08there's a lot of information out there
  325. 12:11and
  326. 12:13the fact that I'm talking about things
  327. 12:16that are happening in, you know, the
  328. 12:17real world on a day in and day out basis
  329. 12:19and that's what my team and I are
  330. 12:21focused on 100%, I think gives
  331. 12:23credibility uh to what we're talking
  332. 12:25about. And I'm sure that helps um build
  333. 12:29build trust and and people find it as a
  334. 12:31valuable resource.
  335. 12:32>> Today's episode of Podcasting Secrets is
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  380. 14:09Now, back to the show. Yeah. You lost
  381. 14:12your editor a while back. Um, had to
  382. 14:15make a transition and kind of refresh
  383. 14:17your show. Can you tell us about that
  384. 14:19process and and what you learned from
  385. 14:21it?
  386. 14:22>> I did. Um, that was kind of crazy and
  387. 14:26just really unexpected. I mean, when I
  388. 14:28first got started with podcasting, I'm
  389. 14:30sure like a lot of people, I just
  390. 14:31Googled, you know, how do I start a
  391. 14:33podcast? And this was before AI, and I
  392. 14:36went out and got a mic and I found
  393. 14:38someone on Upwork to to make me a little
  394. 14:40jingle and uh and to help me edit along
  395. 14:43the way. And so, I worked with um this
  396. 14:46guy for a couple years, and everything
  397. 14:49was really good. He had asked a couple
  398. 14:51times along the way if if I would give
  399. 14:54him like a 30-se secondond credit
  400. 14:56promotion at the end of each episode to
  401. 14:58let people know that, you know, he had
  402. 15:00been doing it for me. But my episodes
  403. 15:03are short, you know, as we talked about
  404. 15:05and like 11 minute episode with a 30
  405. 15:07second credit.
  406. 15:08>> Yeah.
  407. 15:09>> I I just
  408. 15:10>> You want to be promoting your products
  409. 15:11and services, not him.
  410. 15:13>> Exactly. Exactly. and and one day he
  411. 15:16just said, "Hey, I'm not going to edit
  412. 15:20your podcast anymore and I'm taking your
  413. 15:23music," which I thought was mine. I
  414. 15:25mean, I went on Upwork and that was the
  415. 15:27original thing we started working
  416. 15:29together. You know, he made the music,
  417. 15:31but all good. Found some new music and
  418. 15:33found a new editor and, you know, keep
  419. 15:35on keeping on.
  420. 15:37>> Yeah. You say listeners can tell who is
  421. 15:40living it and who's just reading about
  422. 15:42it. How do you keep that authenticity as
  423. 15:45your show's grown?
  424. 15:46>> There there are some guest stories and
  425. 15:49things that happen that you know are are
  426. 15:53just out of the blue. And so I think I
  427. 15:56use a lot of stories. You know, a lot of
  428. 15:58the topics start with with stories or
  429. 16:01things that have happened with my
  430. 16:03properties or, you know, things that
  431. 16:05we're learning with uh other properties
  432. 16:07that we're bringing on. And it is a
  433. 16:09niche market and so there's or a niche
  434. 16:11industry. So there's not a like a lot of
  435. 16:16people that have been producing content
  436. 16:18consistently for a long time and so I'm
  437. 16:22sure you know just the track record and
  438. 16:24the amount of guests that we have coming
  439. 16:26in adds adds to everything.
  440. 16:29>> Yeah. So you talked about it being
  441. 16:31niche. What advice would you give to
  442. 16:33someone in another niche industry who
  443. 16:36wants to start a podcast but thinks the
  444. 16:38audience is too small or is concerned
  445. 16:40it's too small?
  446. 16:42Yeah, you know, there's a lot of
  447. 16:44businesses that you don't need to have a
  448. 16:46really big audience or you don't need to
  449. 16:48have, you know, millions of people
  450. 16:51tuning in or watching your YouTube
  451. 16:52videos. Um,
  452. 16:55and in the property management space,
  453. 16:57like it's a small niche, but they're
  454. 16:59really important decisions. you know,
  455. 17:01someone's coming to us with a property
  456. 17:03that maybe is the biggest asset they own
  457. 17:07or, you know, and they're it's their
  458. 17:09retirement or something like that. And
  459. 17:12so, I guess it just depends on what your
  460. 17:15business is. If if if you have a very
  461. 17:17very low margin uh and you need a high
  462. 17:22uh volume of transactions, then having a
  463. 17:25small niche might be difficult. But um a
  464. 17:29lot of businesses aren't like that, you
  465. 17:31know, where you don't don't need a huge
  466. 17:32niche. So
  467. 17:34>> yeah, especially if the revenue that can
  468. 17:36be generated per customer is high,
  469. 17:38right? Because people pay a substantial
  470. 17:40amount of money for vacation rentals
  471. 17:42that each customer is more valuable. If
  472. 17:44uh you had a really small niche and it
  473. 17:46was about something people didn't pay
  474. 17:49very much money for like pens or
  475. 17:51something, it it may be more difficult.
  476. 17:54>> Yeah,
  477. 17:55>> I guess there are highend pens.
  478. 17:57Yes, that's right.
  479. 17:58>> Yeah. Yeah, they're certainly high in
  480. 18:01pens, but yeah, that would be a one-time
  481. 18:03transaction, right? Uh so, yeah,
  482. 18:05recurring businesses, uh you also don't
  483. 18:07need as big of a an audience, you know,
  484. 18:10if you're going to be working with
  485. 18:12someone for years.
  486. 18:14>> Um then
  487. 18:17you don't need as many uh customers, I
  488. 18:19guess.
  489. 18:20>> Yeah. So Tim, if a new podcaster came to
  490. 18:23you and just asked you what your best
  491. 18:26advice is to help them build a standout
  492. 18:29show, what would you tell them?
  493. 18:30>> Um, well, I I think you need to give it
  494. 18:33some good thought before just jumping
  495. 18:34in. Um, but you know, maybe start off
  496. 18:38choosing a niche, um, just like I did
  497. 18:41years ago. Um, know exactly who you're
  498. 18:44serving. See, uh, stay consistent. I
  499. 18:48think that's a really big one because a
  500. 18:50lot of people
  501. 18:51uh some things just take time to get
  502. 18:53traction. You know, I would find
  503. 18:56something from real world experience uh
  504. 18:58because it people will hear it in your
  505. 19:00voice when you're on the podcast. It'll
  506. 19:03come through and and then lastly, I
  507. 19:06would just make sure that you make every
  508. 19:07episode useful. Uh don't just try to
  509. 19:10fill the fill the space, but have
  510. 19:12something that's actually helping
  511. 19:14people.
  512. 19:15>> Yeah. Thank you very much. That's right.
  513. 19:17You you have to be providing real value.
  514. 19:20It's it's hard to get people's time and
  515. 19:22attention. A lot of times um podcasters
  516. 19:25think, well, I'm giving it away for
  517. 19:27free. They don't have to pay anything
  518. 19:28and then they go fill their show with
  519. 19:30fluff. But the reality is people are
  520. 19:33trading time, right? If it's a half an
  521. 19:35hour show, they're trading a half an
  522. 19:36hour of their life in exchange for
  523. 19:38listening to that show. Exactly. And so
  524. 19:40you've got to give them enough value to
  525. 19:42be worth trading half an hour of their
  526. 19:44life for. hopefully a lot more value
  527. 19:46than that. So, I I love your your point
  528. 19:49about focusing on value. So, you talked
  529. 19:52about losing your editor and and having
  530. 19:55to replace that position and and I'm
  531. 19:56sure that was a big challenge. I' I've
  532. 19:58had to do that before, but it doesn't
  533. 20:00sound like that was that big of a deal.
  534. 20:02Have you had any other bigger challenges
  535. 20:04that you faced and how did you solve
  536. 20:06those? Yeah, I would say losing the the
  537. 20:09editor was more just frustrating than it
  538. 20:12was uh challenging, you know. Um
  539. 20:16let's see. A bigger challenge than that,
  540. 20:19there have been times where
  541. 20:22just got really busy and I and I didn't
  542. 20:25have shows prepared. Um that's that's
  543. 20:28always challenging. Um you know, during
  544. 20:30COVID, that was a really interesting
  545. 20:32time with short-term rentals. you know,
  546. 20:33a lot of them just shut down uh
  547. 20:36completely. They weren't even, you know,
  548. 20:38weren't even legal.
  549. 20:40>> How did you survive with with the COVID
  550. 20:42shutdown?
  551. 20:44>> We we learned a lot, that's for sure. Um
  552. 20:47it co was interesting because at the
  553. 20:50same time, it prevented a lot of
  554. 20:52short-term rentals from being rented. It
  555. 20:56also opened up a lot of visibility to
  556. 20:58the industry because people that were in
  557. 21:00cities were driving out of the cities.
  558. 21:03>> Oh, they didn't have to stay in the
  559. 21:04cities anymore for their job. They could
  560. 21:06go wherever they wanted.
  561. 21:08>> Exactly. So, it actually added quite a
  562. 21:11lot to the industry. And fortunately,
  563. 21:14I was diversified. So, I had properties
  564. 21:17and places that were impacted less than
  565. 21:19others. Um, but it was it was a really
  566. 21:22interesting time. You know, it the
  567. 21:24city's shifted from having people
  568. 21:26traveling into the city to people within
  569. 21:29the city wanting to rent your property,
  570. 21:32your short-term rental. And most of the
  571. 21:33time,
  572. 21:35someone that lives local wanting to rent
  573. 21:37your short-term rental wants to rent it
  574. 21:38because they want to do something there
  575. 21:39that maybe they don't want to do at
  576. 21:41their their property, like have a party
  577. 21:43or something like that. And so, we
  578. 21:45learned we learned that lesson pretty
  579. 21:47quickly, uh, that renting to locals you
  580. 21:49got to be careful about. There's lots of
  581. 21:51good situations where you can, you know,
  582. 21:52but um we've we've added a lot of
  583. 21:55policies over the years and and co was
  584. 21:58certainly a good learning lesson.
  585. 22:00>> Yeah. You've managed more than 100,000
  586. 22:03guests and in your business that's it's
  587. 22:07that's critical because you're like you
  588. 22:09described you're dependent upon those
  589. 22:11reviews. What advice can you give us
  590. 22:14about operations and customer retention
  591. 22:17and managing great relationships so that
  592. 22:20you you can get the great reviews?
  593. 22:23>> Yep. Um it is it is crucial to the
  594. 22:26success of a property. If someone
  595. 22:29it it really comes down to expectations.
  596. 22:32So you need to make sure that your
  597. 22:34property is set up exactly the way
  598. 22:36someone's going to find it when they
  599. 22:38show up. Um, and and it should be even a
  600. 22:41little better than when they show up.
  601. 22:42So, if if they're seeing these beautiful
  602. 22:44pictures that you took 3 years ago, uh,
  603. 22:47and your lamp's broken and your bed's
  604. 22:49sagging and there's scuffs all over the
  605. 22:51wall and they show up, that's not
  606. 22:54meeting their expectations, you know?
  607. 22:56So, it's all about meeting expectations.
  608. 22:59Um, and that's pretty easy to do with
  609. 23:01photos. Uh, and making sure your
  610. 23:03property is clean. Having really quick
  611. 23:06communication goes a really long way. I
  612. 23:08mean, you can have issues at your
  613. 23:10property, but if someone's not there to
  614. 23:13support the guest or to resolve the
  615. 23:15problem, then that's when your reviews
  616. 23:18suffer and it really just becomes a
  617. 23:20downward spiral. Uh what happens
  618. 23:23actually is like if you get some bad
  619. 23:24reviews,
  620. 23:26people see that before they book your
  621. 23:28property and and maybe they're in
  622. 23:29between your property and another one
  623. 23:30and and they see a bad review, maybe
  624. 23:32there was some deferred maintenance.
  625. 23:35that's in their mind, you know, before
  626. 23:36they check in your property. And if they
  627. 23:38also don't have a perfect experience and
  628. 23:41they leave a bad review, then it's it's
  629. 23:43it's just really bad. Um, and the
  630. 23:45listing sites, they actually take your
  631. 23:47properties down these days. So, if
  632. 23:48you're on Airbnb and you haven't been
  633. 23:50doing a good job, they don't want you on
  634. 23:52there either. And so, um, it's really
  635. 23:55about expectations, making sure the
  636. 23:57property's clean, and having good good
  637. 23:59communication.
  638. 24:01>> Yeah, that's right. we're only happy or
  639. 24:04our happiness is directly proportional
  640. 24:06to how our expectations are being met.
  641. 24:09So there's two ways to solve that,
  642. 24:10right? You can you can adjust
  643. 24:13expectations, right? Lower them, right?
  644. 24:16By giving them correct information or
  645. 24:18you can provide amazing service and and
  646. 24:21raise the the reality. But you've got to
  647. 24:23exceed wherever the expectation is. Am I
  648. 24:26understanding that correctly?
  649. 24:27>> That's correct. Yeah. And it's it's
  650. 24:30funny. I I remember back in the day when
  651. 24:32uh I was adding properties a lot more
  652. 24:34quickly. I I would take pictures with my
  653. 24:36phone, you know, and everyone's like,
  654. 24:37"Oh, you got to have like the best
  655. 24:39photos ever." But the reality is I was
  656. 24:42setting lower expectations. And so these
  657. 24:44guests would show up to the property
  658. 24:45like, "Oh my gosh, this place is
  659. 24:46gorgeous." You know, why I was waiting
  660. 24:48to get professional photography. Um and
  661. 24:51so yeah, if if you're setting lower
  662. 24:53expectations and you're exceeding them,
  663. 24:55that's a recipe for for great reviews.
  664. 24:57Yeah, Tim, thanks for being with us
  665. 25:00today and sharing your great advice and
  666. 25:02and the value with with our audience. If
  667. 25:05our audience wants to learn more about
  668. 25:07you and your show and your business,
  669. 25:10what are the best ways for them to do
  670. 25:11that?
  671. 25:13>> Yeah. Um, my podcast is called
  672. 25:15Short-Term Rental Riches. So, we're on
  673. 25:17all the podcast outlets as well as
  674. 25:19YouTube. And our business is called
  675. 25:22Cororsley. Cze.
  676. 25:26We have tons of free resources on there
  677. 25:28if you're looking to get started in the
  678. 25:30industry or if you already have a
  679. 25:31property. We've got lots of quick
  680. 25:33actionable tips you can find there and
  681. 25:35we'd love to partner with you. So, if
  682. 25:37anyone out there has a property and
  683. 25:38they're looking for some help or they
  684. 25:40don't think it's optimized and you know
  685. 25:42quite the right way, I'd love to just
  686. 25:44jump on a call and and chat with you
  687. 25:46about it. You can do that from our
  688. 25:47website as well.
  689. 25:48>> Sounds great. Thank you so much, Tim.
  690. 25:51[snorts]
  691. 25:51>> Thank you. And here are my key takeaways
  692. 25:53from this episode. Number one, record
  693. 25:55short solo episodes on work you already
  694. 25:57know. Then batch several in one sitting.
  695. 26:00Number two, treat your show as the main
  696. 26:03way clients find you, not a side
  697. 26:04project. Number three, talk through your
  698. 26:08real day-to-day work so your track
  699. 26:10record does the selling. Number four,
  700. 26:13pick a niche with high value or
  701. 26:16recurring customers so a small audience
  702. 26:18still pays. Number five, make each
  703. 26:20episode genuinely useful. since people
  704. 26:23are trading their time to listen. Number
  705. 26:26six, publish consistently because
  706. 26:29traction and trust tend to build over
  707. 26:31months, not weeks. Number seven, set
  708. 26:34guest expectations you can beat, then
  709. 26:37exceed them for stronger reviews. Number
  710. 26:39eight, reply to guests fast so small
  711. 26:42problems get fixed before they become
  712. 26:44bad reviews. Number nine, check new
  713. 26:46supply against occupancy and rates on
  714. 26:49AirDNA before you buy into a market.
  715. 26:52And finally, number 10, get ownership
  716. 26:55and writing for anything you commission,
  717. 26:57like intro music, before you need it.
  718. 26:59Did you love this episode? Then please
  719. 27:01leave a rating on Apple Podcast or
  720. 27:03wherever you listen to it. And please
  721. 27:05leave a comment on YouTube. And you can
  722. 27:08grab your free copy of the 101
  723. 27:11podcasting secrets guide and get new
  724. 27:13episodes emailed to you by signing up
  725. 27:16for the newsletter at
  726. 27:17podcastingsecs.com.
  727. 27:19And you can get a free trial of Podup's
  728. 27:22all-in-one podcasting platform where you
  729. 27:24can become a published podcaster in two
  730. 27:27hours or less. Thanks for listening.
  731. 27:29Let's turn your passion into profit with
  732. 27:32a podcast.
  733. 27:35[music]

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