15d • General discussion
Airbnb Arbitrage: Pitching Landlords
When you're getting started in Airbnb Rental Arbitrage, one of the most daunting tasks is making those calls to the landlords.
What do I say? How do I get them interested? Are they just going to tell me to kick rocks and hang up?
These are all questions I hear constantly from people and they're great to ask because you never want to just "wing it". You need to treat it like a sales process.
I like to think about it like content that performs well on social media. People's attention span is short so you need to grab their attention with a strong hook. Landlords get calls every day from different people wanting to pitch them on Airbnb and things alike.
So how do you actually stand out and get them to listen to you.
Well, for the last 17 properties I've closed and added to my portfolio, I started every single call with this hook:
"Hey, how's it going, I saw your add on RentFaster for XYZ property and I was just curious if you'd be interested in renting your property for 5 years."
This is a strong hook, because it's immediately lowers their barrier and most landlords would love to do that and are now going to ask you for more information and say something along the lines of:
"Umm yea of course, tell me more."
We're already switching the dynamic to them asking us questions and positioning ourselves as a solution to their problem - which is getting their place rented long term so they can live their lives.
This hook is very important because we want to flip the dynamic to where the landlord is our our client, and our customer wanting to work with us because we are here to solve their problems.
From there they've given you permission to explain WHY you'd like to rent their place for the next 5 years and explain the business model.
"I run a company that offers fully furnished accommodations and I work with corporate relocations, insurance stays, travel and more. I'm looking to sign a standard 5 year lease with you and then my company will come in, furnish the property and then have a list of clients ready to move in"
Most landlords have dealt with the headaches of doing showings, background checks, tenant applications, etc. Just to lease to someone for a year, have them move out then the landlord does a bunch of repairs/maintenance on the home. Only to have to do another 10-30 showings to find that new tenant.
Lots of times that can take 1 - 3 months before they get another paying tenant. So by you entering the picture and being that solution for the next 60 months it immediately gives them some piece of mind.
You want to explain to them that you are their dream tenant.
By renting with you they're going to get a whole plethora of benefits that they wouldn't get otherwise.
- Professional cleaning after each and every stay
- Rolling deep cleans every 90 days (pull out appliances, furnace filters, etc)
- Handle minor maintenance
- Coordinating appliance technicians
- Improving the property through accent walls
Go to the classroom tab for some recorded calls I've had with landlords
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Airbnb Arbitrage: Pitching Landlords
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