There are a growing number of vacation rentals in LA. The reason for this is that people are no longer staying in hotels. Well, the hotels have a market and so do the vacation homes. Who goes to the vacation rentals? Vacation rentals are usually attracting travelers who don't want to spend a crazy amount of money on a small hotel room.
There is a chance that if you are going to stay in a vacation rental, you'd most likely enjoy more than just a room with a bed and bathroom. Instead, you'd also find yourself enjoying the spacious kitchen and a wonderful view of the city.
Steve Barbarich Vacation Homes 365 became successful thanks to these properties in LA. The Steven Barbarich Vacation Homes 365 is said to be a direct competitor of Airbnb. But one thing that a lot of entrepreneurs ask is how did he do it. How was he able to transition from an engineer who worked as an inventor for different companies to becoming the founder of Vacation Homes 365 in LA, San Diego, and San Francisco?
He made it all possible by starting his Steven Barbarich Airbnb management property business. This was something that allowed him to understand the business. What do customers want? What do hosts typically expect from guests? These are questions that he was able to answer thanks to his rental management businesses.
He made the most out of his venture and it gave him the network and the trust of homeowners. When he started Vacation Homes 365, it was an instant hit. A lot of homeowners decided to work with him after experiencing the great service that he provided on vacation homes 365.
Not only did he lower his cut in his platform compared to Airbnb, he also offered guidance to those who wanted to become hosts. It means that he provided free service for a month. Cleaning and managing the property were the things that he usually offered to hosts. It was something that not all hosts experienced with Airbnb. Since he knows that people are going to spend money on their property if they are going to become a host for travelers, he also tried to assess each property and give them his opinion on whether or not the property is cut for the industry or not.
He provides them with a transparent opinion pointing out the amount of money needed to fix and renovate the property. After consulting with the homeowner, he would then ask them if they still want to become part of the platform. In most cases, homes are qualified to become vacation rentals since a lot of them have already been using Airbnb.
What this proves is that you can still explore other ventures despite mistakes in your first business. He had bad reviews in the past but Barbarich made sure that he can recover from all of those things. He also grew the platform despite the presence of Airbnb. Today, he has a platform well-known in certain cities. He focused on growing his business from top to bottom instead of going all-out.