• The Midterm Rental Shift: Insights and Innovations with Vivian Yip

  • Nov 19 2024
  • Length: 40 mins
  • Podcast

The Midterm Rental Shift: Insights and Innovations with Vivian Yip

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  • Summary

  • Tired of the constant churn and unpredictability of Airbnb and short-term rentals? It might be time to explore mid-term rentals! In this must-listen episode, I sit down with the "Queen of Midterm Rentals," Vivian Yip, as she shares her journey from the corporate world to mid-term rental success. Vivian unveils the strategies behind her incredible growth, from managing booking calendars to dynamic pricing and guest screening techniques, all tailored for mid-term rental excellence. Gain powerful insights into how mid-term rentals offer a stable, profitable alternative to short-term investments. Whether you’re an Airbnb host looking to diversify or an investor ready to expand into new rental opportunities, this episode provides essential knowledge to help you maximize your income potential and navigate this evolving industry with confidence. Tune in and take the first step toward transforming your rental strategy! HIGHLIGHTS AND KEY POINTS: [01:44] A short introduction about our guest Vivian Yip [03:42] Vivian’s talks about the challenges with OTAs and why she shifted to Midterm Rentals [06:00] The creation of the Hestia brand to represent high-quality midterm rentals [07:21] Vivian talks about Hestia and how hosts can join the network [09:43] Vivian reflects on her transition to midterm rentals and the changes it brought to her property management approach [11:34] How Vivian effectively manages midterm rentals and the differences with STR [12:56] The guest screening process in the MTR space when dealing with last-minute bookings [16:13] Vivian shares the strategies in managing calendars and pricing for midterm rentals [20:07] Vivian discusses the demand for midterm rentals and the current state of the market [22:52] The importance of strategic planning and key considerations when investing in single-family homes for midterm rentals [28:15] What are the best practices for cleaning MTRs in comparison to STRs [30:40] How Vivian see the future of the MTR space with the development of a new OTA [31:49] The lightning round Golden Nuggets: “Screen your clients or screen your guests, because in midterm rentals, now you're moving into tenancy, and you're not properly screening them, you're going to have a problem.” “"Calendar management is the most important thing you can do in the midterm rental space.” “When someone makes a booking with you on Airbnb, the terms and conditions are between the guest and Airbnb. The terms and conditions are not between you and the guest. So signing on to a property management system is going to be a huge benefit to your midterm rental business, because now there's a contract between you and the guest.” Enjoyed the show? Subscribe, Rate, Review, Like, and Share!
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