Global Perspective on Vacation Rentals from Leading Business Builder Richard Vaughton

As owner and co-founder of a European rental management company overseeing 900+ properties, Richard Vaughton has significant experience in short-term rentals and property management. He’s also got some surprising takes on where our industry is headed in the near and long term future. 

Uniquely plugged into the industry, and endlessly experienced with real-life work in our world (hello, cleaning toilets on a Saturday) – Richard delivers one of the most deeply impactful conversations we’ve ever had on the show. After circling the globe hosting rentals of all shapes and sizes, he’s raw and honest about what it takes to win – and why he’d never try it again.

He’s also a supremely accomplished businessman, boasting numerous successful exits in industries far and wide. He brings all of his know-how, all of his access, and all of his wisdom for this powerful conversation. 

This is the reality of our industry! Spoken in plain terms by a trusted voice who’s seen and done it all. You do not want to miss it. Make sure to follow Richard on Linkedin (linked below) for his takes on the latest tech, trends, and industry news.

(00:01:22) #STRShareSunday: @LakeSeclusionSML

• Flaunt that Starlink internet connection 
• Emphasize the seclusion 
• Great use of a local restaurant map 

(00:03:42) Introducing Richard Vaughton: Global STR Expert

• We Stayed in a Castle! European Short-Term Rental Industry Review #367
• The long and winding road that lead Richard to vacation rentals
•  STR landscape in 2000 (way before Airbnb)
• Leaving the UK and launching in Italy 
• Growing too big to manage – from 10 to 650 doors
• Rolling with the changes from 2008 forward
• Richard warns against growing without intention 

(00:19:38) Weighing Perfection vs. Productivity vs. Profitability 

• Richard warns against growing without intention 
• Differences between the two kinds of owners 
• Winning through attention to detail 
• Cutting loose headache properties 

(00:30:15) Pro Tips for Direct Booking & STR Marketing 

• Short-term renting won’t save your bad buy 
• The evolving role of direct booking
• Driving more direct traffic to your website
• Detailing the hard work of effective STR marketing  
• Airbnb as the best PR company in the world 

(00:43:30) Forecasting the Future of Vacation Rentals Around the World 

• Richard’s pessimistic outlook on the near future in our industry 
• The biggest issue with Airbnb right now  
• What’s the average income for an Airbnb listing?
• Poking holes in the idea of marketing experiences 
• Richard’s optimistic view of booking.com
• Forecasting the role of AI in vacation rentals and hospitality
• Google’s important place in all of this 
• Warning of being oversold unnecessary operational tech 
• Winning by putting hospitality first

Download a transcript of this episode.

Resources:

• LinkedIn: Richard Vaughton
• Video: 20+ Years of Business & Airbnb Hosting Lessons
• Airbnb Essentials Checklist: hostchecklist.com

#STRShareSunday

@LakeSeclusionSML

This week’s #STRShareSunday spotlight shines on Smith Mountain Lake in Virginia. Lake Seclusion is a beautiful and brand new lake house. With a private dock, fire pit, and acres of forest surrounding the home, guests should be ready for adventure. It’s clear why this home boasts the Airbnb “Guest Favorite” label!

• Instagram: @LakeSeclusionSML
• Website: smithmountainlakeseclusion.com

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