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    Airbnb Mentality
    Airbnb Mentality
    Airbnb Mentality
    Ebook107 pages1 hour

    Airbnb Mentality

    By Rachel Prince

    ()

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    About this ebook

    No matter what your friends think of you, as an Airbnb host, your guests better think you have a 5-star mentality or your entire business could be at risk. 

    Don't waste any time at all trying to figure out if Airbnb is right for you! Read this short book to find out if becoming an Airbnb Entrepreneur is really the career path you want to embark upon and learn of my success tips along the way. I've also included my 5 Bonus Steps To Ultimate Airbnb Success.

    ...I often hear people say that Airbnb consumes them. And I think that is true. I eat, sleep and breathe Airbnb. I'm always on Airbnb Alert! I am never not an Airbnb Superhost. Do you have what it takes to succeed as an Airbnb Entrepreneur?

    Do you have the winning Airbnb Mentality?!

    Read and find out....

    LanguageEnglish
    PublisherRachel Prince
    Release dateJun 1, 2018
    ISBN9781386764250
    Airbnb Mentality
    Author

    Rachel Prince

    Featured in INC. magazine and the front page of the Indy Star for her savvy entrepreneurial vision, Rachel shares a passion and expertise for real estate and short-term renting. Rachel is the author of, Airbnb Mentality, Airbnb Side Hustle and The Art of Airbnb Real Estate Investing. Books available online at amazon and barnes and noble. These books reveal some of the deeper emotional intricacies that becoming a Rentalpreneur may incite; including her own challenges moving from a renter struggling to pay her rent to coaching people around the world how to pay theirs. Rachel interviews Airbnb hosts and influencers regularly on her Airbnb Entrepreneur podcast available on Soundcloud and Itunes. Among those interviewed are hospitality expert and author, Joseph Micelli, as well as Forbes featured, self made millionaire, Chirag Kulkarni. Rachel graduated from Bowdoin College a #1 rated private liberal arts school in America. She received a B.A. double major in International Relations and Spanish. In 2017 Rachel relocated her Airbnb real estate business to the Indianapolis market with FC Tucker real estate firm, and has launched the Airbnb property management company, Hosts of Indy, LLC. Rachel works with Home buyers, sellers, investors and hosts from all over the nation on how to best identify, purchase, convert and optimize their Airbnb homes. Rachel is passionate about teaching her clients the Art of Home Sharing so that they can enjoy the lifestyle they most desire.  She grew up working in the hospitality, travel & event planning industry. She is also a documentary filmmaker featuring gold medal Olympic athletes and her yoga company was featured on the Today Show in 2008.

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      Book preview

      Airbnb Mentality - Rachel Prince

      PART 1

      Getting Clear & Discovering Your Why

      A Brief History

      A new breed of Entrepreneurs has emerged, The Rentalpreneur (aka Airbnb Rental Entrepreneur). Just like the first independent sellers on eBay and Amazon were pioneers to the store-less online marketplace concept, the Rentalpreneur is staking its claim in the billion-dollar travel market, which has opened up by way of renting real estate, most commonly a room, home, a tent spot or RV.

      Whether for business, family, fun or convenience, the modern traveler has proven they want more than the homogenized one-size fits most hotel tourist experience. These new guests as they are referred to on most rental platforms, wish for a unique often more live like a local experience instead and can get that by renting out a spot in the home of a local resident.

      This peer-to-peer platform doesn't exist without some tension however. Many criticize short-term renting for being a threat to the very fabric of local neighborhood environments while others commend it for being an even larger economic boost and environmental solution to overpopulation, waste, and pollution. For those interested in repurposing, renting out what one already owns is a brilliant solution.

      As we already know, rapid industrialization of cities comes at a heavy price, including high housing costs, unemployment, pollution, and waste. In Seoul, Korea, the Sharing Capital of the World, sharing economy efforts have gained legislative assistance to help stimulate the local economy, reduce waste and overconsumption, plus have helped recover a sense of trust and community. Some of the free sharing programs include: Wi-Fi, car sharing programs, public event space, sharing libraries, home sharing with youth and elders, financial support, education services and more.

      While some cities around the world advance in their efforts to support a free sharing economy, a more capitalistic version continues to evolve in America. While anti-short-term rental supporters and certain legislators scramble with how to adopt this fast growing gig economy, others believe it is the American right to do what they want with their own piece of real estate and continue to short-term rent.

      While many are sympathetic to the low housing availability in major cities and the impact short-term renting may have on it if homes are rented to out-of-towners not residents, short-term rentals currently equate to less than 1% of housing market in Denver, for example. Therefore, it may be hard to point the finger at Airbnb and its like for our housing crisis. While we just don’t know if short-term rentals truly affect affordable housing my prediction is that it will affect the future of real estate construction and multi-family zoning. Currently strict zoning regulations in many areas prevent single family residences from building additional dwellings to rent.

      Deregulating these zoning laws means that families will at least have the option to offset the high cost of living by building carriage houses and detached garage apartments, for example, to offset house payments and the high cost of living. Some companies like Lennar are building Next Generation homes that already come with fully equipped mother-in-law apartments/income suites.

      Short-Term Rental Vs. Home Sharing

      Throughout this book I alternative between the terms home sharing and short-term rental. On the one hand I use home sharing to describe the more intimate nature of renting a room(s) in your primary residence to paying guests. On the other hand, I often use short-term rentals as the general term to describe renting out entire rental properties for less than 30 days. I like using the term home sharing because I feel it embraces a fundamental concept, that of creating authentic relationships throughout the rental process. Throughout this book I use the terms interchangeably, however I do favor the term home sharing.

      The It Factor

      Airbnb was a technology company that wanted to become a hospitality company. -Chip Conley, Head of Strategy at Airbnb.

      As an entrepreneur, the emergence of mobile apps both destroyed my business and reinvented it, all with a simple swipe of a finger. When I started my first company when I was 23, I didn’t know the meaning of a smartphone or mobile app, and yet years later it would be the reason why my business plummeted.

      In 2005, I was thinking, If I only had another way to integrate my reward card system into software around the world. At the time I was told the technology needed for what I

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