Episode 41 - Seyoum Bey Airbnb Expert & Superhost

Mastermind Your Life

Seyoum Bey, AKA "BeyBnb", joins Tolu on the InventYou Podcast to discuss how he was able to make his fortune with AirBnb.

Here are a few takeaways from this episode:

1. Have a closet with a lock inside of the apartment where you and your cleaners are the only ones who have access to. The reason being is that one, you want to store any extra linen, towels, or resources in this closet as it will help you manage your inventory. Often times guest will use more than what they need if the have access to it. So to control inventory have a locked closet in your unit(s).

2. Protect your asset (Unit) by getting a ring and noise monitor. Have a ring to see who is coming in and out of your unit and to ensure any rules that you have set are being followed. In addition you want to have a noise monitor to ensure there are no parties or large gatherings taking place as that could potentially compromise the integrity of your business.

3. Smaller units tend to be easier to manage than larger units. All of my units are one bedrooms and I try to stay below 800 square feet for my units as it's easier for my cleaners to turn the unit around for the next guest. I also spend less money decorating the walls, because generally the more square footage the more decor you will need for the wall and random spaces of the home.

4. If you're looking to expand your Airbnb Short Term Rental business search and get apartments during the winter as the demand for apartments are low and therefore rent is generally lower and often times complexes will offer concessions like free Application and Admin fee, or even 1-2months rent free.