Secrets to Scaling: How I Managed 175 Listings on a Remote Mediterranean Island  (Episode 369)

Expanding Vacation Rentals in Cyprus: Remote STR Co-Hosting Masterclass with Lisa Roads

Today’s expert guest is Lisa Roads, a seasoned short-term rental professional, whose journey began as a property investor in her early twenties. 

As Lisa continued to grow her property portfolio, she recognised the potential for early adoption in an emerging market in Cyprus. This investment move created the opportunity to start her second business venture, providing a fully managed service for hands-off investors like herself. 

Focusing on high-quality coastal properties and leveraging her partnership and marketing experience, with her team in Cyprus, the business scaled to 175 properties in five years. We learn all about how she made it happen – remotely! – including emergency communications after a massive earthquake and a six-week power outage on the island.

After transitioning her hosting business to a new owner in 2021, Lisa has now shifted her focus to providing industry education and strategy support to business owners who are looking to scale in a dynamic short-term rental market – a mission we wholeheartedly support!

(00:01:16) #STRShareSunday: @littlecottageonthefarm

  • Shout out to super hosts Matthew and Elizabeth
  • Events! Art classes, tastings, photoshoots, animal experiences
  • Goat cuddling parties (yep)
  • Good example of mindful creative expansion 

(00:03:25) Meeting the Dynamic & Driven Lisa Roads

(00:08:03) Growing the STR Market on a Mediterranean Island Nation

  • Getting into Cyprus as an investment market 
  • Leaning on her background in business and marketing 
  • Starting her own full-service STR launching service 
  • Building a team of trusted collaborators 
  • How she structured her pricing and fees 
  • Building a value proposition in a new market 
  • Managing competition while expanding to 175 listings 

(00:21:24) Lisa Shares Insights on Business Building & Balance 

  • Selling stake in her marketing agency to go full-time into real estate
  • How Lisa manages her time (and burnout)
  • Rotating out-of-hours assignments 
  • Immense value of WhatsApp instant messaging 
  • Building early SOP systems with sticks and stones 
  • Removing herself from being a bottleneck in her business
  • Investing in standardized staff training 

(00:31:21) Managing Owner Expectations as a Remote STR Co-Host

  • Transparency in communication, bookings, and revenue 
  • Reassuring her owners after a massive earthquake
  • 6 weeks without power – that time the power station exploded 
  • Benefits of a business continuity plan
  • How hosting and co-hosting diversifies risk 
  • Getting new clients with positive referrals  

(00:42:19) What’s Next? Leaving Her Vacation Rental Listings in Cyprus 

  • Influences that lead her away from remote co-hosting
  • The risks Brexit raised for her business on Cyprus 
  • Securing a good match to purchase her business 
  • Being hospitable until the very end
  • Giving back to local communities 

(00:47:15) Amplifying Women’s Voices in the Short-Term Rental Space 

Download a transcript of this episode.

Resources:

#STRShareSunday

@littlecottageonthefarm

This week’s #STRShareSunday spotlight shines on The Prairie State – Illinois! This amazing short-term rental, Little Cottage On The Farm, is exactly what it sounds like, an escape from city life to a real working farm. This destination is perfect for a family to explore all of the animals and space of a life on the land. It’s the perfect unique experience to unwind and relax.

We would love to feature YOU, so don’t forget to use #STRShareSunday to get your chance!

Together, Annette & Sarah are the dynamic duo behind the wildly popular podcast Thanks For Visiting, co-creators of the Hosting Business Mastery Method, & seasoned short-term-rental hosts.

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