VRS558 - Mastering Trust: Strategies for Success in Short-Term Rentals with Yoram Solomon

This episode is sponsored by Lodgify, an all-in-one solution that will help you start, manage, and grow your short-term rental business. Use Code VRF10 for 10% off their Professional and Ultimate yearly plans > Click here to visit Lodgify.com to start your free trial today ______________________________________________________________________ There’s been a lot of talk over the airwaves recently about the value of conferences - why we attend them, what makes some more unique than others and what the industry could do differently. It’s a conversation we need to have. Fresh from the VRNation event in Boise, Heather shares her thoughts on the new look for the former Northwest Vacation Rental Professionals(NWVRP) and talks to outgoing President, Brian Olson and the new executive - President Matt Tesdall and Vice President Tera Lorimer. She also explores the innovative platform Scouted.com, which has partnered with VRNation to offer unique local experiences to travelers, and speaks with their CMO, Jess Fuhrman. ______________________________________________________________________ Discover the THRIVE Training System and attend an information session to get your questions answered about our foundational team training: https://thrive.vacationrentalformula.com/thrive-live-webinar Are you listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS559

This episode is sponsored by Lodgify, an all-in-one solution that will help you start, manage, and grow your short-term rental business. Use Code VRF10 for 10% off their Professional and Ultimate yearly plans > Click here to visit Lodgify.com to start your free trial today ______________________________________________________________________ Trust is the cornerstone of our business.  Owners needs to trust managers and OTAs to market their properties successfully, guests have to trust their hosts to deliver on their promises, and mutual trust underpins the relationships between the community and the short-term rentals that operate in their locales. In this episode Heather delves deep into the concept of trust with Dr. Yoram Solomon, an innovator and globally recognized thought leader. Yoram, celebrated for his extensive work on trust and its pivotal role in organizational success, brings his insights into the vacation rental industry, sharing invaluable strategies to build and maintain trust with guests and property owners alike. He discusses the essential nature of trust in all business interactions and its profound impact on a company’s reputation and operational success. With his rich background in technology, business management, and as a prolific author, he offers practical advice that can be implemented immediately by vacation rental managers. Whether you’re a seasoned vacation rental manager or just starting out, this episode is packed with actionable insights that can help you set your business apart by cultivating a trustworthy brand. Dr. Solomon’s advice will not only help you improve your interactions with guests and owners, but also boost your overall business performance by fostering a culture of trust. ______________________________________________________________________ Discover the THRIVE Training System and attend an information session to get your questions answered about our foundational team training: https://thrive.vacationrentalformula.com/thrive-live-webinar Are you listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS558

This episode is sponsored by Lodgify, an all-in-one solution that will help you start, manage, and grow your short-term rental business. Use Code VRF10 for 10% off their Professional and Ultimate yearly plans > Click here to visit Lodgify.com to start your free trial today ______________________________________________________________________ Being a property manager is more than just acquiring homes, sourcing guests and creating experiences for them.  It’s about making a mark in the local area and being seen as an effective community partner and advocate. In this episode, Heather is joined by industry veteran, Kirsten King from Curate Telluride, a vacation rental management company with a strong community focus. Kirsten shares her journey from starting Big Sky Vacation Rentals to her current venture, highlighting the challenges and triumphs of running a vacation rental business in small, destination towns. She draws on these experiences to share advice and suggestions for vacation rental managers who want to integrate community-centric practices into their business models. Kirsten talks about the strategic shift in her business approach towards community involvement, partnerships with local non-profits, and how these collaborations make the  guest experiences so much better while contributing to  community well-being. Heather and Kirsten delve into the dynamics of managing vacation rental properties in competitive markets, the role of trust and values in business operations, and the potential impacts of short-term rentals on local communities. ______________________________________________________________________ Discover the THRIVE Training System and attend an information session to get your questions answered about our foundational team training: https://thrive.vacationrentalformula.com/thrive-live-webinar Are you listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS557

This episode is sponsored by Lodgify, an all-in-one solution that will help you start, manage, and grow your short-term rental business. Use Code VRF10 for 10% off their Professional and Ultimate yearly plans > Click here to visit Lodgify.com to start your free trial today ______________________________________________________________________ Getting involved in advocacy means more than just making a token appearance at a council meeting when they are discussing short term rental issues.  It means having a voice and getting a seat at the table.  When Ben Pereira started to build his Yukon-based business, he took this seriously and realized that you have to show up to be heard.  Now, as the Chair of the Housing Committee on Whitehorse City Council, he can make his stakeholders' views known and considered. In this episode, Ben talks about the uniqueness of his business, which involves a wide range of guest personas, from sports teams and adventure seekers to families preparing for imminent childbirth.   It’s a fascinating look into a model of business that requires a good deal of flexibility, tolerance, and empathy.  On top of that, there’s the ever-present threat of regulations, and we hear how Ben uses his position to share the benefits of short-term rentals in his community. ______________________________________________________________________ Discover the THRIVE Training System and attend an information session to get your questions answered about our foundational team training: https://thrive.vacationrentalformula.com/thrive-live-webinar Are you listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS556

This episode is sponsored by Lodgify, an all-in-one solution that will help you start, manage, and grow your short-term rental business. Use Code VRF10 for 10% off their Professional and Ultimate yearly plans > Click here to visit Lodgify.com to start your free trial today Today’s guest is on a mission to solve industry- wide problems that few others are prepared to trial. She says it’s for good reason – because they aren’t easy. Undeterred (or just belligerent) Rachel rolls her sleeves up, weighs stinky bins, asks a lot of questions, raises funds and collaborates across the industry to create change. It’s a great story. In 2011, with a very small baby in tow, Rachel started renting her cottage. She ran it for 4 years before she set up New Forest Escapes, partly with the goal of encouraging more people to holiday in the UK, reducing travel emissions and making UK holidays an alternative to overseas family travel. Her experience in sustainable projects and travel over the years makes her uniquely suitable to be leading the way in greener tourism.  We hear how and why she went down the route of gaining B-Corp certification and what she is doing now to ensure those who stay in her properties benefit from the work she’s done. The whole conversation about sustainability is so relevant to the work we’re doing on our THRIVE training system.  In the module on Responsibility there’s a lesson on Environmental Responsibilities, and now I can put the New Forest Escapes website into the Resources section and include information on B-Corp Certification. This is the joy of continuous learning - that it never stops evolving as we come across new things to share.  If you are interested in finding out more about THRIVE, just check below. In the episode, Rachel shares: Her journey into sustainable rentals Why you shouldn’t mention the ‘S’ word & the better alternatives What goes into B-Corp certification A simple furniture change that will wow your guests (and their feathered friends) How weighing stinky bins can help change minds Simple things that make a real difference Ways to help guests get greener   Links: New Forest Escapes B-Corp Certification Intrepid Travel Exodus Travels Pura Aventura Much Better Adventures Sawday’s THRIVE  ___________________________________________________________________________ Discover the THRIVE Training System and attend an information session to get your questions answered about our foundational team training: https://thrive.vacationrentalformula.com/thrive-live-webinar Are you listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS555

This episode is sponsored by Lodgify, an all-in-one solution that will help you start, manage, and grow your short-term rental business. Use Code VRF10 for 10% off their Professional and Ultimate yearly plans > Click here to visit Lodgify.com to start your free trial today In a thirty-year period, every industry will show massive change and it takes resilience, toughness, and a lot of flexibility to navigate through it in the way Valerie Hawkins has done with Perdido Realty. Valerie has been a prominent figure in the vacation rental business since 1994. Starting with just three properties, she has grown her business to 167 units, focusing on the importance of trust with property owners, guests, the local community, and her team. From the early use of paper catalogs to the current implementation of advanced property management systems. Valerie stresses the importance of adapting to new tools to improve efficiency but also underscores the necessity of keeping personal interactions at the forefront of guest services. She shares her experiences with implementing the Entrepreneurs Operating System (EOS) and updating HR practices to improve team management and company efficiency. She is justifiably proud of the reputable legacy she's building for Perdido Realty and reflects on how the company has evolved and how the team culture has shifted to include younger members, bringing new perspectives to the business. In this episode Valerie shares her 30-plus-year journey and why she’s just as motivated today as she was at the beginning. ____________________________________________________________________________ Discover the THRIVE Training System and attend an information session to get your questions answered about our foundational team training: https://thrive.vacationrentalformula.com/thrive-live-webinar Are you listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS554

In this special episode of the podcast, we’re diving into a topic that’s not only close to our hearts, but poised to transform the vacation rental property management industry: the THRIVE Training System. Designed to elevate business performance by aligning team culture with the core values of Trust, Hospitality, Responsibility, and a Vibrant Environment, THRIVE promises to reshape how property management companies operate and engage with their key stakeholders: guests, owners, community, and their team.   Register to attend an information session to get your questions answered about THRIVE: https://thrive.vacationrentalformula.com/thrive-live-webinar ________________________________________________________________________________________________________ Listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS553

A recent SNL skit highlighted the phenomenon termed ‘airspace’ in a 2020 Financial Times article.  The generic blend of white walls, grey upholstery, IKEA furniture and HomeGoods artwork, commonly found in Airbnbs across the world, is getting some bad (and funny) press. Interior designer Jessica Duce is the face of the other side of the ‘Airbnb Design’ business.  As a professional designer, who has developed a passion for creating vacation rentals that inspire attention from guests, yet also address sustainability, safety, and community respect, she is not alone in this quest.   In April, hundreds of respected and seasoned professionals will attend the second Vacation Rental Design Summit in High Point, North Carolina, where they will hear from vacation rental experts such as Tyann Marcink Hammond of Touch Stay, and Justin Ford from Breezeway. They are there to learn why this category is growing as an important part of the design world.  Property managers and home owners will also be there to pick up tips on creating the type of property space that will stand out from the ‘airspace’ crowd. In this episode Jess talks about her first foray into vacation rentals and how that kicked-off a new mission to professionalize the business of design and bring some color, interest, and aesthetics back into the space. ________________________________________________________________________________________________________ We need your help to prevent STR bans and unreasonable regulations!!! In an effort to make our voices heard and start the conversation with top level decision makers the CanStays Rental Alliance Conference is happening April 20-22 in Banff Alberta. We need you to attend, we need you the share this message, we need you to get involved. Use the coupon VRF100 to save $100 when you BUY YOUR TICKET Listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS552

During our SSTIR Crazy Month Rolf Blizzard from Atlantic Realty in the Outer Banks said… “If you don’t have regulations in place, or are not currently dealing with regulation issues, know that it is coming to your location”. For many property managers and owners in British Columbia, the announcement of new rules limiting short-term rentals to primary residences and in communities under 10K people, came as a surprise and had them scrambling to organize a response. The Property Rights BC Association was formed in October 2023 to advocate for property rights in reaction to the BC Government’s Bill 35 which became the Short-Term Rental Accommodations Act on 26th October, 2023.  Orion Rodgers, the Owner & Operations Manager at Coast & Host Vacation Rentals is the spokesperson and he joins Heather on this episode alongside Jayne McCaw of Jayne’s Luxury Rentals in Ontario, and the organizer of April’s CanStays Rental Alliance Conference in Banff, Catherine Ratcliffe. This conversation explores how to take action and engage with stakeholders and offers plenty of advice to anyone, anywhere in the world, who is experiencing the threat of unfair legislation and needs to know how to start tackling it.  ________________________________________________________________________________________________________ We need your help to prevent STR bans and unreasonable regulations!!! In an effort to make our voices heard and start the conversation with top level decision makers the CanStays Rental Alliance Conference is happening April 20-22 in Banff Alberta. We need you to attend, we need you the share this message, we need you to get involved. Use the coupon VRF100 to save $100 when you BUY YOUR TICKET Listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS551

Successful companies in the vacation rental business have defined their core values and strive to shape their culture and guide their decision-making processes by them. In this episode, first in a series of interviews with property managers of Gulf Shores and Orange Beach, Deb Furlong of Beach Getaways, talks about the crucial role of their core values and how they are integrated into every aspect of the business. From interactions with owners and guests to team meetings and vendor relationships, Deb emphasizes the significance of trustworthiness, empathy, and servant leadership in fostering a positive work environment and building lasting relationships with stakeholders. We need your help to prevent STR bans and unreasonable regulations!!! In an effort to make our voices heard and start the conversation with top level decision makers the CanStays Rental Alliance Conference is happening April 20-22 in Banff Alberta. We need you to attend, we need you the share this message, we need you to get involved. Use the coupon VRF100 to save $100 when you BUY YOUR TICKET _____________________________________________________________________________ Listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS550