Category: Hosting Tips

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Short-Term Management Strategies: Considering Your Options

Managing a short-term rental property is a lot of work to do on your own. From booking to cleaning to troubleshooting issues with guests, it’s nice to have some help along the way. Many homeowners are now deciding to partner with a rental management company.

But the decisions don’t end there—when choosing between rental companies, you have a lot of options. It’s important to look at each company’s strategy and consider what that means for you, your property, and your guests. We’ve outlined the three main rental management strategies below.

 

FIXED

Best for: homeowners who want consistent monthly income.

The fixed strategy allows the rental company to promise the homeowner a certain amount of revenue per month, no matter the number of bookings that month. The rental company pays you this set amount, then takes the rest. This means that you’ll make the same amount in the slower off-season as you will during more popular months. Overall, homeowners don’t maximize their monthly revenue with this strategy because they don’t receive the benefits of major spikes during the on-season. The scope of services provided by rental companies using the fixed strategy varies, but in general it is not comprehensive. The homeowner is often required to take care of services like guest correspondence and solving problems during a guest’s stay.

COMMISSION

Best for: homeowners who want their monthly revenue to reflect booking trends.

The commission-based strategy involves the rental company taking a certain percentage of every booking. This amount depends on the company and location, but typically falls between 20-50%. Using this strategy, the rental company and the homeowner experience highs and lows as a team. When there are more bookings for a certain month, everyone benefits. If you decide to go with a rental company that utilizes this strategy, it’s likely that a greater range of services will be covered than with the fixed strategy. However, you may still be expected to coordinate services such as cleaning, maintenance, and restocking the property between bookings.

TURNKEY

Best for: homeowners who want to maximize their revenue and minimize their workload.

The turnkey strategy is for homeowners who want their rental company to handle all of the tasks that come with maintaining a short-term rental property. Sometimes used in conjunction with the commission-based strategy, the turnkey approach covers all aspects of a booking, from answering initial inquiries to check-in to troubleshooting to turnover. Many homeowners who live out of state or frequently travel abroad choose this method while they’re away. Others live down the street and want a more hands-off approach to hosting. Although this strategy can be more expensive, the additional monthly revenue gained and the peace of mind that everything is covered makes it well worth it.


We handle every detail of your rental so you don’t have to. Click here to see the full list of services offered by Effortless Rental Group.

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Entertainment Hosting Tips Rules & Regulations Travel

How to Make Your Listing Stand Out and Earn More 5-Star Reviews

The short-term rental industry is booming worldwide, and Colorado homeowners are enjoying the profits. Airbnb hosts in Colorado made $183 million in 2017 alone, a 68% increase from the year before, according to The Denver Post’s recent article.

More properties are listed on Airbnb and other popular rental sites like HomeAway and VRBO every day. But with more properties comes more competition, which makes it crucial that your home stands out. Take a look at our list of amenities to add to your home to make your listing shine and enhance your guests’ experience—meaning more 5-star reviews for you.

 

1. Recreational items appropriate to your area

If you live across the street from a park, include some Frisbees or a croquet set in your home. If you’re close to a river, kayaks or inner tubes are great additions. Guests will choose your property over others because of nearby sites and attractions, and will appreciate that they don’t have to buy or rent equipment to enjoy these areas.

2. Modes of transportation (or information about how to get around)

Many of your guests will arrive without a car, especially if your home is in an urban area. Having bikes on hand will allow your guests to easily roam. Cheap bikes from Walmart or Target will do the job. If you can’t buy bikes, at least provide some details about how to get around in your area. Check out our article on exploring Denver without a car for some ideas.

3. A stocked kitchen

This goes beyond simply having dishes and utensils. Make sure that your kitchen is stocked with other essentials like olive oil, spices, and balsamic vinegar. Add a box of pasta and your guests will have everything to make a quick meal—especially useful for those who arrive late at night. If there’s a food item that’s local to your area, it’s a nice touch to include that, as well.

4. Ways to access attractions nearby

To go above and beyond, leave some tickets or passes that allow your guests to visit spots in your area for free. This could simply be a library card for renting books and DVDs, or something a bit more extravagant like free tickets to a museum or an access card for a rec center. This is a great way to use the free guest passes that come with many monthly memberships.

 

If you have any of the above amenities in your rental property, be sure to list them in your property listing. These items will not only attract prospective guests, but will also make their stay in your home the best it can be (great for them) and inspire them to write you a 5-star review (great for you). You’ll have that Superhost rating in no time.

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Guests Hosting Tips Travel

Make Your Listing Pop with Positive Reviews

Positive Reviews

Good feedback is essential in the short term rental management industry. A potential guest will often pay more attention to reviews than any other part of a listing, including photos or descriptions. Travelers trust other travelers when it comes to a property’s cleanliness, amenities, and proximity to dining, nightlife, and family-friendly activities. Your listing will get more views—and more bookings—if it features positive feedback from guests.

Guests are more likely to leave you a positive review if your place is clean and well-maintained, correspondence is quick and helpful, and you’ve gone out of your way to make their stay the best it can be, like providing a list of nearby restaurants and coffee shops. Not only will positive reviews help your listing gain attention, but the guests who have written them are also likely to recommend your home to others in the future.

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Construction & Development Effortless Rental Group News Hosting Tips Rules & Regulations

The 7 Biggest Mistakes Short-Term Hosts Make

short term rental mistakes

It takes practice to be a successful short-term host, from creating eye-catching property listings and making the most of your space, to interacting with guests from booking to check-out. Take a look at our list below for some common mistakes made by hosts, especially those just starting out in the short-term rental world. With some experience, you’ll be on your way to stellar host status in no time.

#1. Having limited ability.

Many first-time hosts devote only part of the day, like before leaving for work, to addressing guests’ issues, questions, or requests. But a maintenance problem or other issue can happen anytime, day or night, and delays in responding to these requests (especially in cases of emergency, like a pipe bursting or roof leaking) can lead to a bad review and potentially a dangerous situation. Guest Experience Coordinators at ERG are available 24/7 to help address anything that comes up during your guests’ stay. Whether a guest reaches out about needing fresh towels or something more serious, we respond quickly to get things back on track.

#2. Not optimizing your space.

You don’t need a lot of space, but you should efficiently use the space that you do have. Make use of spare rooms and empty areas by giving them a purpose: install drawers in the space under the stairs for more storage, or turn the corner of the living room into a cozy reading nook. Have a large backyard that goes mostly unused? Get some benches and turn part of it into a fire pit area. Small touches like these will make your listing stand out from the rest, which will get you more views, bookings, and positive reviews.

#3. Representing your property incorrectly.

Your listing is the key to attracting guests, so it’s important that you optimize it to include relevant descriptions about your home and high-quality photographs that feature its best qualities. Try to showcase the details that make your home unique, like a deck with skyline views or a game room in the basement that’s perfect for entertaining. One of the benefits of a partnership with ERG is a fully optimized property listing. Our professional photographers, interior designers, and writers are dedicated to presenting your home at its best.

#4. Not keeping up to date with local regulations.

This common oversight can cost you in the long run. Cities change their regulations for short-term rentals all the time, and it’s important to stay updated—or risk a steep fine and possibly your ability to rent in the future. Your city should have a short-term rental page on its government website with all of the info you need to apply for permits and learn about guest allowances, taxes, and more. Pay close attention to the information your city requires you to post on your listing, like your Business File Number (BFN), to remain a valid host.

#5. Underpricing or overpricing your property.

Most hosts on short-term rental platforms like Airbnb and VRBO are incorrectly setting their nightly prices, and therefore sacrificing number of bookings, monthly revenue, or both. It can be tricky to correctly price your property while taking into account important variables like local events, hotel occupancies, and travel trends. ERG’s analytical pricing matrix considers these and many other variables to set rates that get you more bookings over multiple platforms, including our own exclusive platforms. We use a flexible pricing approach—not a static one—so the prices we set change based on day of the week, seasonality, weather conditions, and more.

#6. Not understanding the ups and downs of short-term rentals.

Every investment property makes more money during certain times of the year and less during others. Maybe there’s a summer festival in your town that attracts a lot of travelers, and the rest of the year is relatively quiet. Or if your home is in a region that sees sunny skies only a few months of the year, you’re likely to have a surge of guests at that time. It’s important to recognize that these fluctuations are normal and not get discouraged. Focus on ways to attract guests in the slower months, like a lesser-known event nearby or renovation projects that will make your home stand out year-round.

#7. Cleaning and maintenance slip-ups.

Two of the main reasons for negative reviews are oversights in the cleanliness of the property and delay or failure to fix something that’s broken. It’s crucial that you have cleaning and maintenance experts who you can trust to prepare your property before every booking. ERG’s professional cleaning company keeps your property looking immaculate after every check-out. If any repairs are needed, our maintenance team resolves the issue quickly and efficiently. We make sure that everything is in pristine condition when your guests arrive—every single time.

A partnership with Effortless Rental Group means 24/7 support by our team of short term rental management experts who are dedicated to your success. We’d love to help you navigate these and other common experiences of first-time hosts.

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Entertainment Hosting Tips Rules & Regulations Travel

Airbnb and Resy Simplify Dining Away from Home

Airbnb and Resy

With their new partnership, Airbnb and dining reservations app Resy make it easier than ever to get a taste of a new city.

“When you’re traveling,” says the video in the Airbnb blog post announcing the partnership, “all those unfamiliar options can make it hard to choose. That’s why Airbnb teamed up with Resy to handpick some of the best spots around, from local favorites to award winners.”

Now it’s possible to book a reservation at almost 650 restaurants in over 15 major U.S. cities, including Denver, San Francisco, Austin, Miami, and Washington, D.C. Through the Airbnb website or app, guests can choose the type of food they’re craving—from Indian cuisine to Japanese tapas and everything in between—and desired location. All of the restaurants on offer through Resy have been curated for their quality of food and service, so guests know they’re in for a good experience.

With Airbnb guests spending over $6.5 billion on dining in the last year (included in Airbnb’s restaurant report), it’s likely to be a lucrative partnership.

Looking toward the future, Airbnb plans to extend this service to international cities—and that’s not all. “We’re looking into allowing for even more dining options,” writes Airbnb in their blog post, “like exclusive tables for our users or social dining experiences where guests can share a meal and meet their fellow Airbnb travelers.”

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Effortless Rental Group News Hosting Tips Travel

The ERG Difference: Partnering with a
Rental Company vs. Doing It Alone

Rental company vs doing it alone

 

There’s a lot to think about as a short-term rental host, especially when you’re first starting out. You’ll consider pricing, interior design elements, details you want to include in your listing, and much more. But even with all of these decisions ahead, the most important choice you’ll make now is to either team up with a short-term rental management company or go at it alone.

Effortless Rental Group maximizes our clients’ revenue by setting nightly prices using our analytical pricing matrix, which accounts for variables like local events, hotel occupancy rates, and travel trends. We optimize your listing and post it on a variety of booking platforms, including our own exclusive platforms, Nightly Renter, Nightly Vacation Rental, and Best Family Vacation Rentals. More viewing platforms mean more bookings—and more money in your pocket.

Increasing your monthly earning potential is just the beginning. Effortless stands out from other rental management companies because we provide a turnkey service for our clients. This means that we take care of everything—from competitive pricing to bookings and guest correspondence to cleaning and maintenance. Our professional cleaning company and re-stocking team will give you the peace of mind that everything is ready when your guests arrive. Many of our clients travel abroad for part of the year or even live out of state. They trust us to manage every single aspect of their rental properties.

Another important benefit of a partnership with Effortless Rental Group is that you’ll be supported by a team of short-term rental experts who are dedicated to maximizing your monthly revenue and assisting you in any other way. Day or night, we’re always available for you and your guests.

Owners who want to maximize their revenue, give guests the best possible rental experience, and live without worrying about the upkeep of their investment property choose to partner with Effortless Rental Group. Whether you’re seeking management services for a complete holiday rental or flexible seasonal bookings, contact us today for an evaluation free of cost and obligation. We look forward to connecting with you soon!

Effortless Rental Group

720.475.1486

 

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Construction & Development Effortless Rental Group News Hosting Tips Travel

Airbnb’s Open Homes Program Houses Hurricane Survivors

airbnb management

Helping those in need is nothing new for Airbnb. Since 2012, the company has connected thousands of people displaced by natural disasters and other emergency events with nearby hosts willing to donate their spare bedrooms. In 2015, Airbnb added a donation tool to their website for refugee assistance efforts through a partnership with The United Nations High Commissioner for Refugees (UNHCR). Now, in response to the recent onslaught of hurricanes that have destroyed many homes and damaged countless others, Airbnb is once again stepping up to offer assistance in a crucial way: free shelter for those with nowhere else to go.

Through its Open Homes program, Airbnb creates a platform for hosts in disaster areas to list their homes for free. Then either partner agencies or verified account holders contact the hosts to set up bookings, which can last from one night to over a month, depending on the host’s preferences and availability. The process happens quickly, and people who have become homeless overnight soon have a secure and welcoming place to rest and recover.

“At the heart of our mission is the idea that people are fundamentally good and every community is a place where you can belong,” writes Airbnb CEO and Co-founder Brian Chesky on the Airbnb website.

Over 700 hosts signed up to help Hurricane Harvey evacuees and relief workers, and another 200+ have opened their homes in the US and the Caribbean to those affected by Hurricanes Irma and Maria, with numbers continuing to rise.

Even with all they’ve already accomplished, Airbnb founders don’t plan to stop anytime soon. In February, the company announced their goal to find free housing for 100,000 displaced people over the next five years. They will also donate $4 million over the next four years to the International Rescue Committee (IRC), to provide resources directly to refugees, evacuees, and others who need emergency assistance.

Founders are optimistic about the future generosity of hosts to help achieve these goals. Co-founder Joe Gebbia writes in an Airbnb blog post titled Opening More Homes to People in Need, “…Every single time we’ve asked our community to open their doors and hearts to help others, they have more than exceeded our expectations: they have humbled us with the immensity of their kindness.”

For more information and to volunteer your home, visit the Open Homes page here.

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Hosting Tips Rules & Regulations Travel

Partnering with a Rental Company vs. Doing It Alone

With the rise in popularity of short-term rentals, many owners are turning their investment properties into a second source of income. Once the decision to rent out the property using a short-term strategy has been made, there are numerous other questions that the owner must ask himself or herself: how much should I charge? How do I decorate my home? What do I include in my listing? Should I post on Airbnb, VRBO, or both?

There’s a lot to consider, especially when you’re starting out as a first-time renter. But the single most important decision you’ll make is whether you want to team up with a short-term rental management company or go at it alone.

One of the main benefits of a partnership with Effortless Rental Group is that you’ll be supported by a team of knowledgeable professionals who are dedicated to maximizing your monthly revenue. To learn how you can make exponentially more money when you work with us, versus renting on a short-term or long-term strategy alone, check out https://effortlessrentalgroup.com/hosting-tips/want-increase-earning-potential/

Increasing your earning potential is just the beginning. Effortless stands out from other rental management companies because we provide a turnkey service for our clients. This means that we take care of everything—from analytical pricing using our custom algorithms to handling all bookings and guest correspondence. Our professional cleaning company and re-stocking team will give you the peace of mind that everything is ready for your guests. In fact, many of our clients travel abroad for part of the year or even live out of state. They trust us to manage every single aspect of their rental property.

Owners who want to maximize their revenue and live their lives without worrying about the upkeep of their rental property choose to partner with Effortless Rental Group. We would be honored to work with you in the future. Please feel free to contact us anytime!

Effortless Rental Group

720.475.1486

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Hosting Tips

Space-Saving Design Ideas for Small Properties

  1. Don’t waste the space under the stairs

Take advantage of this valuable (and often forgotten) space and add a few shelves or a cozy reading nook. Whatever you choose to create, keep it minimal and uncluttered with horizontal lines and neutral accents.

mochacasa.com

houzz.com

 

  1. Fold-down furniture is your friend

There’s a good reason the Murphy bed, originally invented in the early 1900’s, is making a comeback. Fold-down furniture like the Murphy bed allows for multi-functional rooms and creates a ton of extra floor space when not in use.

gedyrivera.com

houzz.com

 

  1. Mirror, mirror, on the wall…

Who’s the most space-savvy of them all? Mirrors enlarge any space by creating the illusion of depth. In general, the bigger, the better—opt for tall and wide mirrors over small mirrors or gallery arrangements, which will have the opposite effect.

mogome.com

freshome.com

  

  1. Area rugs suggest separate rooms

This is particularly true in studio apartments or in large spaces that are being used for two functions, like as both a living room and a dining area. Rugs in contrasting colors divide the space and designate each area for its intended purpose.

home-designing.com

jeleba.com

 

  1. Use expandable furniture whenever possible

Maximize your space by buying tables with slide-out or add-on segments to use only when you have guests over. Keep an eye out for pieces that have hidden storage compartments and a fold-out design like the table below—they’ll let you stash your stuff out of sight.

red.lateefabryant.com

westelm.com

 

  1. Install shelves and furniture on the wall

If you haven’t jumped on the floating shelf train, get going. This popular design trend frees your floor from bulky and heavy pieces and adds a modern feel to your home. Consider mounting your desk or dining table on the wall to free up even more space.

irastar.com

decorpad.com

 

  1. Keep things out of sight under the bed

Trust us—your dinner guests don’t need to see your flannel pajamas or your favorite moth-eaten sweater you can’t seem to throw away. Store seasonal items, shoes, or extra sheets under the bed instead. Get a bed with built-in storage or opt for some baskets to slide underneath the frame.

homesfeed.com

iconhomedesign.com

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Hosting Tips

Sleep Like a Baby with 1 Simple Change to Your Beds

We all know that how much we enjoy our day has a lot to do with the amount—and the quality—of our sleep the night before. You’ve also probably heard that sleep is critical in staying healthy, managing pain, and forming new memories. But did you know that good pillows are the easiest way to ensure a good night’s sleep? And that changing out your pillows in your rental property is the quickest way to drastically change your guests’ experience for the better?

There is a plethora of pillows on the market, with various firmness, textures, sizes, and shapes. We’ve picked our favorites that will make sure your guests get a good night’s sleep and are geared up for sightseeing in Denver the next day. When your guests are well rested, they have more energy to explore Denver—and write you a positive review on Airbnb or VRBO at the end of their trip. Speaking of Airbnb and VRBO, feel free to mention the brand and type of pillows in your listing—it shows potential guests that you’ve put time and thought into making sure they’re comfortable during their stay at your home.

 

Our top choice: Coop Home Goods Shredded Hypoallergenic Memory Foam Pillow, from $50

This pillow outperforms and out-reviews any other pillow on the current market. The firmness can be adjusted by adding or removing foam, and the natural materials meet CertiPUR-US standards for allergy sufferers and guests sensitive to harsh materials. The removable fill also makes it easy to adjust the pillow to fit side, back, or stomach sleepers. Long-lasting and affordable, switching out your current pillows for these ones will make your Airbnb or VRBO rental property stand out from the rest.

 

Utopia Bedding Premium Super Plush Fiber Filled Pillows (2-pack), from $19

At $19 for a 2-pack of queen-sized pillows, these fluffy pillows are definitely the winners when it comes to price. Hypo-allergenic with an anti-microbial finish, these fiber-filled pillows will ensure asthma and allergy sufferers get a good night’s rest. The full polyester stuffing resists compression and deformation over years of use. Note: the pillows are shipped in a vacuum-sealed bag—for best results, allow pillows to expand for 2-3 days before use.

 

Foamily Premium Hypoallergenic Stuffer Pillow Insert Sham Square, from $7

For maximum comfort on your bed or couch, these inserts by Foamily are our top pick. The pillows stay fluffy and do not deflate over time, and offer a good level of support for the back and neck. They come in a range of sizes to perfectly fit in your shams and provide your Airbnb property with some stylish accents. And beginning at $7 for the 12” x 12” size, the price can’t be beat.