Celebrating success and interviewing accomplished business people is truly inspiring, and this podcast episode is no exception! We dive into the world of property management businesses, discussing the importance of great business partners and the various aspects that contribute to success. 🎉

Our guest, Heather Bayer, shares her insights and experiences in building and selling a successful property management business and then selling it. From finding the perfect partner with complementary skills to preparing your business for a profitable sale, Heather covers all the essential steps and challenges you might face along the way.

What we cover in this episode:

How to build a property management brand 🤝

Where to find potential buyers for your short-term rental business. 🔍

What are the key issues to focus on when creating a partnership agreement? 📝

How to prepare your business for a strategic, successful sale. 🏭

How to set up collective goals and create a long-term vision for your business? 👥

How to establish and maintain trust with your business partners. 💖

It’s been 25 years since Heather bought her first rental home, and after two decades of managing a fast-paced property management company, she’s experienced it all. From welcoming guests to her own properties to creating relationships with hundreds of short-term rental professionals and then selling her business. Heather is now focused on helping others achieve success through blogging, her podcast Vacation Rental Success and now has her own training platform. Her podcast has nearly 500 episodes and well over a million downloads, it’s one of the best resources for learning more about the business with guests ranging from successful owners to leaders in the industry.

Don’t miss this informative episode, where Heather Bayer shares her valuable knowledge and experiences in building a thriving property management business and successfully navigating the sale process.

📽 Watch the episodes here
🎙 Listen to the episodes here

Transcription:

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Bart: Okay everybody, welcome back to another episode of The Accommodation Show. I’m pleased to be joined by Heather Bay on this episode, welcome to the show.

Heather: Thanks so much, Bart. It’s an absolute pleasure to get my own back.

Bart: That’s right because I have been on your podcast a couple of times. We had the fortune of meeting each other, almost six months ago now in Miami at the book direct show. Struggled with struck up a bit of a conversation and actually we’ve got to know each other a bit better through doing these podcasts.

Heather: Yeah, exactly. Exactly. I mean, that’s, that’s one of the huge benefits isn’t it of going to these conferences is that you meet the people you’ve been talking to for a while online and then that relationship tends to blossom after that and continues which I love and made it much easier for me to approach you and say come on. The podcast because we’ve met in person. So that’s a shout-out for going to conferences.

Bart: You go That’s right. And look it’s so important, right because you’re building, you’re growing and that sort of thing. And that’s why I actually have you on the show today because as I’ve got to know you I’ve got to know your story in your journey probably better than I would have had I not met you or had we not done these episodes and your story is really fascinating about you coming into the into a new industry, and then you’re one of the ones that sold out or not sold out but sold your business and got out of sort of the operational side and that’s what we’re going to talk about today is how to start a short term rental business and how you have done it, and then how you get out of it at the end. It’s I’m really looking forward to it.

Heather: Yes, yes, me too. I learned a lot along the way. So you know, I’ll spill, I’ll share what I can.

Bart: Yeah, awesome. So look, how about you first off and just sort of give us a bit of a background as to you what you’re doing right now? And then maybe just sort of how you got into the industry?

Heather: Which one do you want me to start with first, 25 years ago or now?

Bart: Yeah. How about, what you’re doing right now?

Heather: What I’m doing right now is my sort of passion project. Because I’ve had 25 years in the industry. And I have shared everything I’ve done over the past 25 years as best I can while I’ve been running a property management company. And now I have the time and the energy to go all into what I love to do which is training and education because that’s going right back to my roots. I ran a training company 25 years ago, and now 25 years later, I am back doing training again. But within the short-term rental business, which couldn’t be better.

Bart: Yeah, and it’s such a good space to be doing it right now. Because, one is that I think there’s a real lack of knowing who to actually trust in terms of getting your education and your information. But also on the other side. There’s just so much interest in it.

Heather: Yeah, exactly. And I talked to a property manager a couple of weeks ago for the podcast and he said you know, the one thing is, is that there’s no university for going to get a short-term rental education. I said hold on, hold on, hang on. There is there are some really decent people out there. Myself included, that know what they’re doing. They’ve been in the business a long time and they’re teaching this and I’m really happy to be part of that group. There’s so much out there at the moment. I know you’ve seen it, but somebody’s been in the business for six months and they’re going to tell you how to earn a million dollars on Airbnb, almost overnight without lifting a finger. And that bothers the heck out of me.

Bart: Yeah, and look, I think that that isn’t just a, you know, a short-term rental thing. I think that that’s across many different industries. So you’ve got people that come in and make all sorts of promises of different dreams and I think the realities can be quite different once you start to add up all the numbers and you realize how much work it actually is and what skill sets you actually need to run a business like this one because the one thing they don’t tell you is how many different moving parts there are.

Heather: Yeah, nobody told me that when I got into property management 25 years ago, there was nobody around. And just, just a brief background to that. I was living in England. I was CEO of a management training company. And we trained mostly in customer service and marketing. And we were doing very nicely and I had no reason to think I would do anything else. And then I went to Canada on vacation. We came out to Canada to go to a wedding, a couple of weddings. And I went and stayed in a cottage on a lake. And it was dire, although we had a wonderful time, but it was ours and there’s a long story to that and I do have an origin story that I can share at some other time. But basically, at the end of this vacation, I saw I looked at this rundown little property that we just stayed in for a week. And I figured I could do this and I could do this better. So went back to England and started buying properties in Ontario in Canada. And within three years we emigrated. My husband had been in the military for 35 years. So was coming up to retirement and bless him he followed. He followed my flag I’ve been following his flag for 30 years and he followed mine. And we started a business in Ontario.

Bart: So the first view was sort of identifying a problem and that you’d be able to solve it. And then from there, you decided you bought some properties in Canada and then how it how did you make the decision to buy them rather than maybe trying to find someone else’s properties to manage? 

Heather: Well, I started we started buying our own and I had no intention at the outset of getting into managing third-party properties. But just like just about everybody I talked to on my podcast, you know, you always start with your own property. And then people start coming along and saying, Hey, you’re doing really well at this. Would you manage mine as well? And that was that that’s what happened to a greater extent. I found a business partner who had been managing a listing site for the previous six or seven years and it was the first listing site in Ontario. And he had been listing properties and then he was fielding a lot of inquiries from the homeowners who are listing on his site, who said, “this is great to have this service, but I don’t want to do the management myself. I don’t want to be dealing with people’s problems and issues.” So Craig came to me because I’d been sourcing out some of his properties to see what they were like. And he came to me and asked if I’d be interested in taking on the board on the management side, and we went into a partnership and that was a partnership that went on for 20 years.

Bart: Okay, so this part is quite important. And for those that are listening, we’ll circle through different topics and different ideas in terms of starting a business and the middle part of all the management things is not going to be for this particular episode, but I really want to focus on that getting started so that if you’re listening, what can you do right now and where are we going to go? And then and then we’ll do this, the thought thinking about exiting a business and what that looks like, but I really want to focus on that for a second. That whole idea of finding a business partner and what that partnership means and what it meant for you. Because it can make or break your business and it can be quite uncomfortable as well. So let’s just set the scene here you’ve got a few properties that you’ve bought yourself when you’re managing any other properties. Before you got into this partnership.

Heather: My sister had one so I was managing hers. That’s often how it starts you know, you have your own and then your relatives come along and your neighbors. So I met up with my future business partner and we decided we would have a half-hour meeting and just explore some ideas and three and a half hours later, we were still talking and I think that’s the very first thing you know, we hit it off straight away. We were also very different people. And I think you know if this does not work, this partnership doesn’t work. You find somebody who is exactly like you because you’re going to be missing some of the component parts that are really needed to make a business partnership work. You have to have different styles and bring bring bring differences to the conversation if you like. So he was very technical and detail-oriented. And I’ve always been a strategy person so everything was from the top down. And for Craig, everything was a bottom-up so I’d you know in 20 years of the partnership, I would come up with one of the things he hated for me to say was I have an idea because he knew what went on from that it was some far fetched idea that was going to make oodles of money and he would then come in with this is why it’s not good. But that really is if I was offering any advice to somebody who’s going into partnership is to be aware that that meeting of minds where you both get so excited about it because you’re both coming from the same position. And if you do that, well that’s all very well and good. But you’re going to have to spend time finding people who are going to fill the missing gaps and fill the gaps. You’ve got to have a detail person.

Bart: Yeah, I think that’s absolutely critical. You’re trying to find someone like the question is why you bring the business partner and what is apart from someone to talk to in general if you’re talking about the same things, then it might not be beneficial or as beneficial as it could be. If someone can tackle things from a different angle, or feel some of the skill sets that you might not be as good at or as comfortable with. So if you’re not great with customer service or dealing with customers, great to have someone that can do that. If someone’s good at social media and marketing if someone’s really great operationally or technically, it’s great to bring in that skill set to be able to sort of complement what you’re doing and also push back on you a little bit. So you need that level of trust. But then, from your perspective, you’re getting into this partnership and if someone is sometimes people get can go both ways. We can say oh, I’ve got to do this I need to find a business partner. Or then there are others that are saying no I don’t need a business partner to their own detriment. So you can go to those two different parts. When we talk about a partnership, how do we make sure that we get on the same page quickly? And that we get to a stage where we understand each other commercially right so that you’re saying, well this is how this is gonna be structured. This is how we’re going to divide things up and not get too stuck in that process of setting it all up. One of the first steps, from now having done it you’d say to the next person, this is what you need to do to form a partnership.

Heather: You mentioned the word Trust. And for me, it comes as a gut feeling. You know if you should know from the outset if something’s going to work for you, and this was not my first rodeo with my management training company, I was in partnership with a very similar person because I knew what I was missing that I could have the ideas but I needed somebody to help me implement them. And I knew that I could not do this myself. But it had to be the right person that I would also get along with.

Bart: One of the things that are really fascinating to me when trying to figure out, getting having a partner is how it’s going to work in a practical sense. So one of the things we’ve talked about already is how we identify someone, we’ve got the trust part of it, but how do we figure it out commercially? Because you might have already part of the business built, they might come in and they’ve got none of the business built or they’ve just brought in that skill set. Then you’ve got you guys are just sharing the ideas. How do you figure out how much work each person is meant to be doing on the business and you divide it 50/52 questions one is if you were to it, how did you guys set it up? And then the second one would be how would you recommend someone else to do it if they were to just get started?

Heather: Now I think it’s gonna be really different for every person when I started with Craig, he still had a full-time job. He was a database manager and he was still working full-time. So really, I started the business with 100% of the workload. And then it wasn’t until about four, four or four years down the line. I think when he quit his day job and join me and came in as a 50/50. Partnership. So he wasn’t, you know, it’s a long time going back. How we worked out the division of payment, I honestly can’t remember, probably didn’t pay myself, the first year or so. Anyway. That was a little bit of a difficult time when you know, I had to give up 50% because we’d started as you know, I would take 100% and really do the property management side while he continued with his listing site. And really, I was managing the company and all I was using of his, and what he was giving to me was his list and everything that he’d worked towards with his listing. So he was sending me the clients and then I was managing them but quite honestly but you know, it’s an interesting question, because I can’t remember how we did it.

Bart: Yeah, but one of the critical pieces here from what I’ve heard you say is that 50-year at that from the outset, you guys have decided to 5050 the business in terms of the ownership. So you probably would have set up some sort of a business partnership or greedy or I think a partnership agreement and off we go.

Heather: Yes, we had a partnership agreement, and I think that came probably about two or three years in. So it was very loose at the outset. And I think before that he didn’t have much input into the business. And he didn’t take much of the output either. But once we had the partnership agreement in place, and you know, it started out as a boilerplate partnership agreement, but we had to work in things like what happens if something happened to me. What would happen to the business what would happen if something happened to him? You know, I couldn’t say okay, you know, Craig got run over by a bus. Therefore, the business is now mine, because, of course, it’s a 5050 agreement. So we there was a lot of fun. You’re working with his kids, right? Yeah, that’s right. That’s right. So there was a lot to work out with that and we went through a lot of scenarios, what if scenarios and you know, really comes you’re coming to the end of the business. We’re glad that we did have that in place at the outset. And there are a few things, a few other things that we had in place that made it very helpful. When we got to the end. You know, we always had an exit strategy in mind from the very beginning and I think that is where I was.

Bart: Let’s talk about that. Yes. So the exit strategy is something that whenever I start a new consultation with a new client, someone that’s in short-term rentals, they might be at five properties, one property one hundred properties, the first thing I ask is, where are we going with this? What is the exit strategy? Are you looking for this to be a lifestyle business that you’re gonna run until you retire? Are you looking to sell it in five years? Are you what kind of lifestyle do you want behind it? So from what you’re saying there was an exit already at the very start without even really knowing what the business is going to look like. Tell me about that.

Heather: We discussed it annually, every year when we get together usually at the end. At the end of at the end of the season. When we get together we talk about how the season went. Well, one. So looking back and looking forward to the next year. setting our goals, but we also then updated the exit strategy. Now let’s talk about when we’re going to bail out of this. Is it likely to be next year? Is it going to be five years is it going to be ten years what are our thoughts? So we have these very informal discussions each year in a sort of an informal formal if you like, because we did it every year, and we included it in that discussion. 

And it was pretty informal until we got to the last couple of years and I think we probably talked about selling for maybe five years before we actually did, but because we’d and I think yeah, I just wanted to come on to that because five years before we actually sold, we got into one of the discussions and said okay if we sold next year, do we have everything in place to make this a successful sale and we realized that we did not because we could not be replaced. So five years before we sold, we hired a person who would become our general manager, who would know everything about the business. So when we sold the business, we weren’t going to be you know, because we were at then out of it. That wasn’t going to have a huge impact on the sale price because it could it would have been if we didn’t have a general manager, but we made that decision five years before we sold. Our general manager was in place. She knew everything about the business. We will be able to then walk away, she would be able to continue and the buyer could come in and not actually have to do anything themselves. Because the staff were all in place to take the business forward without us and I think that that was so critical that we decided that enough years prior to the sale.

Bart: And I’ve done a few podcasts already about selling a business. And every single time I’ve talked to someone that knows this space they says start preparing now. And it can be as simple as getting all of your numbers written down and doing them properly having a good p&l so that you understand what’s actually going on in your business and looking at the different elements that a potential buyer will be looking at when they come to you and they say so Hey, we want to buy a business. What is the business? I think what a lot of people say well, I know what it is my head I know what it is my brain actually if you start to put it down onto paper, and you start going well what all the management agreements look like? With all of my different clients if I don’t want an agreement or like 20 different ones, for different clients, and they’re all worth different moments. Numbers, what is the lifetime value of a customer? All of these questions we start to sort of put in and you don’t have to have like when you’re just starting you don’t have to have all this stuff written down and sorted. But as long as you know what it is, you’ll know. You’ll know when you come to exit, what people will be looking for, because you want to get paid, right? You don’t want to build a business just to get paid today. You want to get paid out at the end for all those hours of extra work that you’ve done. And also because you’ve probably got something which is worth something to a potential buyer in the future.

Heather: Just getting all the ducks in a row, way before even considering a sale is the key. And um you know we went through four months of due diligence and going through absolutely every aspect of our business and we had everything to hand, three years of three or four years of general accounts. Of course, we had that but you know, owners going back three or four years. Why did x Oh, why did this owner quit? Why did they leave? Why would why was this year better than that year? We had all the answers. And it wasn’t really until we went through that due diligence that we realized that you know it was because we had been diligent in the key performance indicators and making sure that every year, we looked at our performance, we measured everything and we documented everything and I hadn’t realized how valuable that was until they got to the end

Bart: On that as your because obviously, you said that your business partner is more the diligent kind of side of the business regardless and would have been probably looking out for all of these things and making sure that that you’re all on track. How valuable is it to be on top of all this, even if you weren’t to sell the business?

Heather: I would say that from the moment you start your business. You keep all those records. It’s a business plan that is updated every single year. Because you know, at any point in time, then you can look at your performance and say, You know what happened that year because compared to two years ago, there’s there was a big difference. You know, what was our churn like? Why was our churn a higher percentage this year than it was in another year? But if you don’t keep those records year after year, then you just don’t have anything to make comparisons with. So regardless of you know, maybe you’ve got family and you’ve just got to hand everything on to your family, it doesn’t matter. You still need to keep that business plan going. Because you can look back at any time and it will give that really valuable information and it helps you to project for me as well. Wow, look,

Bart: I’m so cognizant of our time where we’re smashing through time and I’ve just got so many questions for you. And so this part of really understanding your business to be able to create value if thinking about the exit pins consistently through your business is key. So of course you guys within your mind, you had decided that exit is going to be necessary at some point soon. So you start to tidy things up and make sure that you’ve got all the data points that you need to make sure kind of understand whether the business would be attractive to someone. What what’s the next step for someone in terms of alright, we know that we want to sell we’ve started to tidy things up. What was your circumstance what was the next step in terms of approaching potential buyers or you tell me what happened next?

Heather: Yeah, it’s um, we struggled with that because if we’d been in the US, there’s a number of specific short-term rental valuers and we would have jumped at going to somebody like Ben Edwards or Jacoby Ohlin. A couple of the other vacation rental company brokers that there are, they’re out there, and I did talk to Jacoby and I talked to Ben as well before we sold, you know to ask about valuation. And of course, we’re in a different country though. It was different. So we went, Yeah, we went to we found a small business broker. Because we had to find somebody who’s gonna go out and find us the buyer. So we went to a small business broker. We had the company valued and then they also had a sales division. And within two weeks of them posting the business for sale. We had the fifth we recently sent out the 50th NDA. 

But I created the business brochure because the people that were using did not know the business. So we had to educate them on what the business was about. And I did that through our business brochure, which really came out of the business plan that we did from year on you know, we had all the figures that we could put into the business brochure, and that’s just another benefit of that business plan going. So. So yes, they put it out in the open market. We had, as I say, 50 Interested parties and with them then we went through an interview process which was a huge surprise for me. I had no idea. That’s, you know, once you sent out an NDA, and we sent out some additional information, then people wanted to talk to us, and we were in a position then of choosing who was going to buy our company and we went through three to four-hour interviews with these prospective buyers. And so, this time they’ve never this time last year I remember doing it.

Bart: That’s really interesting. You would have thought that you know when you sell a house, you don’t interview people you just whoever is gonna pay the most amount of money that’s where we go right? Why are we interviewing people to sell our business like of course there’s you don’t want to, you know your own ego maybe or I want this to go on or you care about the people that you work with as well and that’s completely understood. But apart from that, are there any other things that you’re looking out for when you’re interviewing people?

Heather: We have some criteria. We had a remote working business that had been remote. We’ve been remote working for 10 years before COVID. And we had an amazing team. We had people that have been with us for years and years. And we wanted those people to remain. We did not want somebody coming in and stripping out the team and doing something entirely different. We had a lot of loyalty. They had given us loyalty over the years and we just felt they really deserved that loyalty back. So we wanted somebody who would come in and take on the entire team and not really change anything because we also felt a huge amount of loyalty to our owners and we had over 160 owners at that time. So we wanted the right people that would come into the company and take it forward. Obviously bringing in new ideas, but along that journey, not losing anybody, either staff or owners. And I have to say that we are coming up on 10 months now, 9 or 10 months since the company changed hands and they have not lost a single member of staff nor any owners. So it seems amazing. We found the right people.

Bart: That’s a testament to building a great business regardless you look after the people you look after owners, and that’s kind of your lifeblood, and that’s something that’s gonna keep them going regardless, post sale or into that sales process and that’s what helps you to get to there. So as far as an official thing, which I completely understand and agree with and so, these 50 people that applied, so to speak now. I would imagine that with your level of experience in the industry, you would probably know a lot of potential leads and prospects for this company to say hey, we think that these are the potential buyers, you’re even putting it up on, on the social scene we’re looking to sell or that sort of thing. So those two things that are 50 people, where do they come from? And were you part of that sales process trying to find more prospects?

Heather: Well, once we had once we realized that there was a big demand for the company. We were then able to really whittle that list down. And there were people that we knew were going to lowball from the very outset. They weren’t interested in the price that we were asking. So they went out to start with and then and then it really came down to about half a dozen that showed real promise. There were a couple from the US there were a couple of very well-known companies from the US that you would I won’t mention them but you would certainly recognize them. And then it came down to two or three from Canada. But there was just there was one interview that we had. Craig and I sat with the three guys and we talked and talked and talked and they were so enthusiastic and so motivated. And the thing was is they had no experience in the short-term rental business at all. Okay. And that was oh my gosh, you know, how are they going to do this but in In fact, it worked out. We decided we came off that call and we said these are this is it. These are the people that we want to sell our company to.

Bart: What proportion of these potential buyers what proportion were I’d say already professionals and what proportion were I guess from other spaces? What is the kind of word slosh around to be in terms of that packet before it?

Heather: Probably only about 10% I would say had had experience in the business at all. We had a couple of our guests, our previous guests who thought this was such a great idea. A couple of our owners who thought that they would like to get in on this and I honestly thought that at the outset that we would be selling to one of our owners but in fact but in fact did they didn’t work out that way. But yes, it was only a very small amount had had experience in the business and came with and I think to a degree, that was a huge benefit. That they didn’t come with any preconceived ideas. We were able to explain the business. Both Craig and I stayed within the business. I mean, Craig is still in it. Greg is still working for them. 10 months later. I probably lasted about we were meant to be there for a year. I lasted about four months and I said you guys don’t need me anymore.

Bart: Wow. Okay, so this is incredible. It’s such a great journey and I’ve learned so much and I’m so surprised. The reason why I asked before, I asked about you know, did you provide leads were they industry-type folk, you know, saying no? Well, the last, the last thing I’m going to ask is around that value proposition that you’re going to provide to potential buyers because we talked about a certain proportion being from the industry so they might already understand what it is that they’re potentially buying. And then just look at the numbers and then maybe even know you already and be like okay, I know this, what would I be prepared to pay for the business? But then obviously there’s such an appeal to your business to 90% of people that aren’t industry folk. What do you think it was that appealed to them with your business?

Heather: Oh, that’s a difficult one. I mean, we sold to an investment company. Three entrepreneurs in their late 20s who had a lot of experience in taking on small companies and growing them. They did a huge amount of research and I think that’s what came across when we actually when we decided that we were going this is the company that was going to buy ours and they had done just a massive amount of research into the industry. So they’d research the industry in, the US and in Canada. I was talking to people you know, while we were going through this process, I was talking to people, well-known people in the industry, Andrew McConnell from rented.com. And they got in touch with him. They’ve been through all my podcasts, and they were getting in touch with the people that I’d spoken to. And not to ask about my business but to ask about the business. In general. And they were they wanted to learn about it and they were getting excited about it. And it’s given their due they’re still excited about it.

Bart: I guess from what you’re saying is that there is no one key area that you’re saying this is what you have to do to sell you to say, have your numbers sold, there’s your thing sorted and then you go out to the market and then it’s only at that point you’re really going to know what it is going to because it’s going to appeal to different people and different institutions in different ways.

Heather: Yeah, exactly. I don’t think there is a formula for finding the right buyer. I mean, you might say okay, well I’m happy to sell to for Carcer or Casago is going to come along and suckers up as well. I mean, we’ve made a decision that we didn’t want to go that route anyway. We didn’t want to sell to any form of consolidator or become part of a big company. We just wanted to find somebody that would take it on like Craig and I had and it would be their baby. And that’s what has happened and I have to say it’s way exceeded my expectations as to how it would be and I think it’s because the buyers didn’t have preconceived notions of what this was all about. They didn’t come in and say okay, this is Airbnb, we don’t have to do anything and it’s all passive income. They weren’t they were ready to roll up their sleeves and bring an injection of new energy. And oh, just Yeah, it’s very different now, but it’s the same if you see what I mean. They haven’t really been in certain areas they’ve changed nothing. And in other areas, I am seeing this great curve upward as they grow. They’ve done a lot of growth in the last year. And they’ve been tremendous at it.

Bart: Yeah, I know that for businesses. When you buy them you’ve got to find ways to add value to it. And if you’re not going to add any value then probably doing by book is not going to do well with it. But Heather, we are out of time. Unbelievable information, unbelievable story. I couldn’t think of a better person to have had the success that you’ve had. You’re sharing, you’re giving you want to help people and it’s completely understandable as to why you’ve managed to get yourself out of that particular pot. Now you’re imparting your skills and helping others and I’m sure that even the project of education and training is for you. Yes, there will be a money side to it. But actually, if you can help strengthen other people along the way, especially with all the skill sets that you’ve built up. I imagine that that’s the journey. So if people want to join you on that journey, what would they do?

Heather: They can get in touch with me directly. And you’ve got my email address to add to your show notes. heathervacationrentalformula.com So what we’re doing is we’ve created the vacation rental formula Business School. And we are I’m creating courses. I work closely with my co-founder who’s my son Mike, who has also been in the training business for a lot of years, but he’d say he comes from the safety side. He’s a firefighter. So he and Justin Ford are actually working, you know, they work together to create some material and then we’re bringing in some of the best training in the industry. 

We’re selecting people that have a really good track record in offering training and education, who have been in the business a while you haven’t just jumped into it. Know what they’re talking about and are bringing their experience. So we’re going to be curating the best education that’s out there and putting it all together in one place. And that will be the vacation rental formula business school, new website. It’s going to be launched in early May. And we’re super excited about that. We have a beta programme going on at the moment. We just have 30 students now and we’re up to just the early 20s now so that’s still open. So go to go to vacation rental formula.com And you can go to the Business School and find out a little bit more about that. We’d love to see more people on there.

Bart: I’m very excited about that. I’m excited to get involved. I want to have a look at these programmes and their continuous education which makes us stronger and that sense of community which I’m sure will be built through there as well. Heather, you are amazing. I’m so glad that we did this. And I’ve already got 10 other ideas for episodes that we could do in the future. If I can get your time later on. I will try my best. But once again, thank you so much. I really do appreciate it.

Heather: Absolute pleasure Bart. Thank you for having me.

Bart: Awesome. And if you have been listening or watching don’t forget to like and subscribe but I would like to get your feedback. I would like to let get your comments and let us know if this episode provided any value to you at all. Take care, and have a good day everyone.