AI Will Change Short Term Rentals Forever

This week, we're talking about another way to use artificial intelligence. How we can analyze our competition or analyze a market, really in just 30 seconds. I know that sounds crazy, but we all know the power of artificial intelligence, and we've written the perfect prompt, which you can have for free. We'll give you the link. It's. It's in the show notes. There's really only two steps for you to complete this process. So first off, what is this prompt for? Well, it's basically a way to analyze all of the reviews for any specific property in just a few seconds. So reviews are public information, right? Whether they're on Airbnb or VRBO or wherever it happens to be, we can simply just copy those and we can paste them into ChatGPT. So the more important piece is analyzing that data and uncovering the little nuggets in there so that we can improve our own properties. Or if we're investing in a new market and we're not quite sure who the ideal guest is or the ideal amenities, we can uncover this information from the top performing properties. Really, really easy. So by analyzing reviews, we're really getting to the heart of it, right? We can see why someone enjoyed a property and why they didn't, why they enjoyed staying in a certain neighborhood, or, or why they didn't. It can tell us about the specific properties. Maybe they really enjoyed the view, but there's other properties in the same neighborhood that don't have a view, and we can use that initial data to help us uncover more. Right? And so if we can do a really good job at analyzing all of our competition, well, then we know exactly who is going to be staying at our property, and we can make sure our property listings are, are tailored perfectly. So the first thing is we can copy all the reviews from the best performing properties. We literally just open them up. It's public information. Click and scroll all the way down, and then we'll copy that into ChatGPT. Of course, we. We need to ask ChatGPT in the right way. So I'm just going to read to you from our prompt. This is just the first piece of our prompt, but it says analyze positive comments. Identify and count the frequency of positive comments related to the property's features. List the top 10 features guests liked, including the number of reviews that mentioned each feature. So we want to know if something's getting mentioned more than once. Right? They really enjoy that view, or they really enjoy that it's right next to a grocery store or whatever it happens to be. We're going to uncover this in a really easy to read format. But we also don't want our results to come back with some just basic information. Right. And so we've added in a piece that says, as you're completing each of the numbered items, please try to exclude common guests. Positive comments that are desired in every property. Right. So ones that aren't going to make that property unique. These could be things like great host communication. Right? We know that. We know that our guests want good host communication. We know that they want a clean property. So we don't want our results coming back and saying, oh, make sure your property clean. We already know that the next piece of info we're going to extract from these reviews. Remember, you can do this on any property or if you've been running a property for a long time, I highly suggest you go back and copy all of your reviews and you use this chat prompt to make sure that you aren't overlooking anything. So the next thing is we want to identify top local attractions. And actually I got the idea for this prompt after experimenting with some of my own properties. And actually this specific guest review mentioned that had they known it was so close to the zoo, this property happened to be close to the zoo, that they would have booked it regardless. And I dropped the ball. I didn't have the zoo mentioned in there. So this next piece of the prompt basically says count and list the top 10 most mentioned local attractions in the reviews, including the number of reviews that mentioned each attraction. So again, if the Zoo is mentioned 10 times in there, then you know, you need to have that really clearly in your listing description. You might even go as far to add that to your title. You know, steps from the zoo, blah, blah, blah, blah, blah. Right? And so this is really important information and we're going to ask for 10. If there's not 10 there, then the prompt's simply going to return a result that says there's not enough data. So for any of you out there that are maybe like, what the heck is Tim talking about in these prompts? And you haven't used ChatGPT, then this is essentially just a way for you to analyze data. ChatGPT, there's a free version. There's also other ones out there, like Bard, where you can just paste this data in, but the data by itself isn't gonna be super helpful. You have to give it a prompt or instructions, in other words, to give you the results you want. And so the prompt that we created is what you're gonna copy in along with Those reviews. So the next piece is we want to analyze negative reviews, right? If there's something negative about the neighborhood or about specific properties or something that might be affecting the guests showing up to our property, then we want to make sure we're really transparent about that. So this next piece of the prompt says identify and summarize the top five negative comments or feedback about the property. Include the dates, month and year when the reviews were left. So again, when we're analyzing all this data, we don't want to pull out negative reviews from four years ago. Maybe a specific property had an issue with the air conditioning and it was a really hot summer or something. We want really good data that's gonna be insightful, right? That's gonna help us write our listing in a different way. So again, there's a bunch of really important information that we can pull from reviews. The main goal behind all of this though is to understand our guests and what they want. And so the last piece of this says, based on the analysis of these reviews, the reviews that you've copied and pasted describe the ideal guest profile for the property. Consider the types of guests who most frequently left positive comments and what they valued most about their stay. Again, whatever pops up in these results, we want to make sure that that's really clear in our listing description. Maybe we have photos around that. If someone really enjoyed the theater, then we want to have the theater in some of our photos showing that, right? These are real world data, people that stayed in our property or stayed in properties like ours. And it's really gold when it comes to writing our listing descriptions and making sure that we are selling our property to the right person. So that's pretty much it. Again, you could alter this prompt in any way you want. So if you discover new ways to uncover bits of gold from reviews that are left at your property or properties around you, remember, you can get this prompt from us just by going to striches.com you will see our artificial intelligence document. It's basically a living, breathing document where our team and I are constantly adding new prompts to it and all you gotta do is copy it and then copy some reviews from your neighboring properties, paste them in there and you're gonna have a lot of good info. So. So until next time, I hope this saves you a little bit of time and I hope you have a fabulous week. Want to get on the fast track to financial freedom through short term rentals? Well, it all starts with the properties you acquire, but you want to make sure that you acquire the right properties. I want to give you my ebook that will show you how to do just that. There is no charge. It's my gift to you for being one of our subscribers.