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Today I had the honor of speaking with Erica Mattia. Erica is a full-time vacation rental property manager in the Ontario Canada area who has over 24 listings.
Erica, having had a background in Network Marketing, was able to utilize her experience and sphere of influence to find clients and build a successful cohosting business model.
What I love so much about this conversation is just how humble and personable Erica is. Erica is successfully managing a very good sized portfolio of properties but she is a constant learner and even shares that she listens to the other hosts in the show to glean success habits and tips.
Erica shares the journey she has been on and how it’s impacted her life today, the importance of networking and how to build your sphere of influence, how to price your time and services you offer, and the secret to managing multiple properties successfully.
Check out Erica’s listings:
http://www.drericamattia.com/vacation-rentals
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Episode #19 Success Secrets
1. Work with Realtors and Property Investors who want to get into the STR space for building your cohosting network.
2. Talking about your cohosting business on social media helps lead to referrals.
3. Go to local REI and Business Events to network and grow your sphere of influence when building a cohosting business
4. Talk to friends and family who are purchasing a second or third property and talk to them about renting through Airbnb.
5. If you are just trying to get customers you will end with people who don’t work well with you.
6. When you get your first property, treat it like you have hundreds of properties by coming up with systems to make your interactions repeatable and scalable.
7. Make notes throughout the season on how to improve the performance of your listing and send an annual or biannual feedback email to the owner.
8. Have standardized documentation on every property as if someone were able to take over your business and operate without your presence.
9. Set clear expectations with property owners that this is a hospitality business, not real estate, and that the customer will always come first.
10. Charge a setup fee when taking on new cohosting clients.
11. Have a list of minimum requirements customers must have to fit your criteria before taking on a client.
12. If there is a party at a property you manage, send police to get a report as this helps with the documentation for an Airbnb resolution.