Financial Freedom

Optimizing Your STR To Achieve Financial Freedom

Welcome to Boostly Podcast Episode 513. In this podcast episode I will be talking about a particular PMs Future stay

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Timestamps (audio)

 
00:00 Intro
00:23 What do you know about future stay
01:34 Taking a deep dive
02:24 The one to ten property owners
03:13 A little bit differently
04:43 Outro
 

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Transcript from the Episode

[00:00:00] Mark: Hello to another edition of the Boostly podcast. Boostly does PMs . That's what I'm calling this series. But anyway, uh, over the course of the past sort of year, I've been looking into and digging in and sharing some different PMs providers or different vendors or different people in the industry that are coming to my attention.

[00:00:18] And over the last week, I've had five different people send me this question. Hey, what do you know about Futures Stay? And I'll be perfectly honest, I didn't know much about Futures Stay apart from being in a LinkedIn group chat with the CEO and one of the co-founders, Philip Can. And actually, funny enough, um, one of the first ever videos I did for Booley all these years ago, Um, there was a, a little segment of a, uh, for a PMs blog that I was putting together, and it was a segment of, of, uh, Philip's chat on, on stage, which was really interesting because it's a bit of an arc now because, um, future stay, um, and I'm gonna share my screen here.

[00:00:59] [00:01:00] They, um, got a little bit of attention this year, so 2022, and I went to look at the. Uh, rental scale up. If you don't, if you're not subscribed to Rental Scale Up, please do. Uh, to Bolt and Team have built a fantastic blog and service, um, and all of the things that they do as well with rental scale up. But they got a bit of attention this year because they raised, um, nice little summer money and, um, it is definitely meant over the last couple of months have been building, building, building because whatever's happened over the course of the last few weeks, they've been really pushing out, um, the awareness of, of what they're.

[00:01:34] And I wanted to take a little bit of a deep dive and just to see exactly what they're doing. So I, I went onto, uh, the website. So why is this PMs different from others? You come onto the website and it looks like any normal PMs provider, um, helping rentals when their independence, et cetera, et cetera, et cetera.

[00:01:53] But it's when you delve down to the features. So let's go and have a look at the features that they have. So we've [00:02:00] got the listing health score, again, quite common. Dynamic pricing, again, common, Uh, website builder. Again, the website builder is not a WordPress website. We talked about this. Never go for a free website from a PMs.

[00:02:12] Make sure you get a WordPress one. Um, pricing and payment Secure book is financial reporting, but it's the actual pricing is the one that interests me. The. And this is something that I can see more and more is the big vendors and vendors that are coming into this space are getting popular in this space, are paying more and more attention to the one to 10 property owners.

[00:02:36] So one to 10 property owners, as in you've got, you've got 10 properties, one to 10 properties that you own or you manage, co-host, whatever you wanna call it. And normally what happens with a PMs provider is that there'll be a monthly cost. So you'll pay sort of $80 a prop, a, a proper, a listing per month, et cetera, et cetera, 20, [00:03:00] 30, 40, $50 or something like that.

[00:03:01] And then when you get to a certain level, you pay a little bit more all about cool stuff. But the, the thing that interests me about this, if you come to future stay.com and you come down to the pricing, They do it a little bit differently, so instead of charging, A monthly fee. They charge you when you have a booking.

[00:03:22] So if your price per night, let's just say is a is a hundred, I dunno why I said minus. So say it's a hundred, then you'll pay $5. So they're doing a per booking rate, which is interesting to me. If you've got one property, this may make a ton of sense. If you've got two properties, it may make a ton of sense.

[00:03:42] If you've got free, it may start to get a little bit cost. If you start to get five and you've got a really good, um, booking business in the background, for example, you may have read a book called the Book Derek Playbook. You may be doing all the marketing and you may be getting tons of bookings. As soon as you get to that five level and, and you're being charged, uh, [00:04:00] 5% every booking, then it may start to get expensive.

[00:04:03] Uh, and you may actually end up paying more than what you would do if you were to say with somebody of a charge, a subscription model of, I dunno, let's just say $160 a month. So it's, it's definitely a unique spin on it. It feels like it's got the, uh, OTA instant book model with it. But this is where I wanna throw it over to the community.

[00:04:26] Uh, do we have anybody in the boley world that is using Futures Day? Do you have any pros and cons? Any feedback that you wanna give to us? Is that pricing something that you like? And as always, with these podcasts, it's not just my opinion. I, I want it to be the, the community's opinion. So if you. Aware of Futures Stay.

[00:04:43] If you use Future Stay, then please let me know in the comments. If you are watching this on LinkedIn, for example, and you are a member of Team Futures stay, please chime in and, and let us know why you do that pricing model. Uh, let me know and let the community know, like what do you bring to the table?

[00:04:59] And [00:05:00] also as well, I would love to know how come you are everywhere at the moment, Everywhere you are ever doing a big outreach campaign, ads campaign? I don't know. Cause I don't see it, but so many people are messaging asking me, so it's, uh, it's super cool to see. I love seeing new people come into the industry and provide their spin on things and, and how they're helping and whatnot.

[00:05:20] Who knows, you know, if we get enough people come to us, then we may even look to reach out to Futures Day and maybe do some partnerships, API connections in the future, which is cool to see. So this is me throwing it over to you. Let me know who's using Futures day, what do you have to, what's your pros and cons and all that cool stuff.

[00:05:36] As always, my name is Max Simpson. I give hosts all over the world, the tools, the tactics to training, and the confidence to go and get Direct bookings and until next. Let's be proactive. Let's not be reactive. Let's go and get some dire bookings. Having a blast. Gonna get it on the Bruce Lee podcast. Bruce Lee led Bruce Lee cuz it's so hard on the tees.

[00:05:55] Loose leaf. Making up those rhymes. Don't write it, just do it loosely.

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