Today's guest is Renee. She cohosts 6 properties at Greenville in South Carolina. Cohosting here means she primarily runs someone else's property and gets a 20% commission from revenue. She also runs a marketing agency for Airbnb hosts. It's www.bnbthesmartway.com. Her listing is called "Open Hearth Cottage- 3 miles to Downtown + Furman," is generating $46,000 in revenue (after paying a cleaning fee, service charge, and supplies). Considering that this type of property can be bought at below 200k, it is an impressive rental yield.

Visit: www.bnbthesmartway.com to get more Airbnb bookings.

Listings: www.airbnb.com/h/openhearthgreenville

Vacation Rental Career (00:57)

First property: 2018 Aug
First co-hosting: 2019 May
Six co-hosting properties: 2020 Mar
Owner of Airbnb marketing agency - www.bnbthesmartway.com

Key numbers (6:10)

Target minimum $160 per night / 65% occupancy rate
In average $3,500 - $4,000 per month in revenue (Assumed $170 / 75% occupancy rate = 3,888) (8:40)
In Greenville, you can get a 2bedroom house around $200,000 (7:10)

About her business (9:25)

Run Facebook Ads to keep their Airbnb Search ranking up.

Software (11:15)

Yourporterapp.com
Turoverbnb.com
Pricelabs.co

Reasons why Renee is co-hosting instead of rental arbitrage (12:45)

How does she find co-hosts? (13:30)

Networking
Member of BSI (Business Network International)

Airbnb tips (14:48)

A comprehensive 5-6 pages checklist of everything that needs to be in the house
Small things like ice cream scoop, snacks, water, soda, welcome message on the fridge, 25-page guide book.
Extension cords wherever needed for guests convenience (eg. near a bed)
Beach towels for pet owners
Dog dishes, dog house.

Podcast sponsored by Airbitcs - find more interviews here.

Managing four Airbnb listings in Albany, NY remotely

Into The AirbnbBy Into The Airbnb - PodcastMar 09, 2021