Hostfully-Palooza!

[00:00:02] Speaker A: This is short term rental management, the show that is all about short term rental property management with your host, yours truly, Luke Carl, short term rental management exciting stuff. Today we've got Margot, CEO of Hostfully, coming in. Some of you may know her. She has been on Avery s podcast, the short term show. And today we're going to talk a little bit about management and management softwares and guidebooks in the future of the industry and the hostfully palooza that is happening right now. The integrations palooza going on now through the eigth of March. If you're listening to this live on Tuesday, March the fifth, we love you. Thank you for being here. And Marga will be joining us after a quick word from this week's sponsor. This episode is brought to you by the premier short term rental Facebook group, short term rental long term wealth. We have nearly 50,000 members, and this is the biggest independently owned and operated SCR Facebook group, and it has been curated by yours truly, cash flow Car. Join us on Facebook. Search the groups for short term rental long term wealth. That's short term rental long term wealth on Facebook. Here we are, ready to party. Short term rental management long hair Luke, with Margot, which is lovely to have you. I know you very well from, well, not personally, but from Avery's podcast, you were on her show about a year ago. So tell us a little bit about yourself and what you do. [00:01:46] Speaker B: Well. Hey, everyone. My name is Margot Schmorack. I'm the CEO and co founder of Hostfully. I live in San Francisco. I've worked at some other tech companies in the past. And yeah, hostfully is a short term rental property management software company. So we help focus on software solutions that help any sort of host to property manager with managing their property. We have two products, a property management platform, which it's like a PMS, which is like the worst acronym in the history of our industry. But basically it helps you with getting reservations from different bookings platforms. So if you have a property you're listing on Airbnb, you can use hostfully to also get that property on booking.com and verbo and increase your occupancy and change your pricing, manage guest messaging all in one place. So it's pretty cool. And then we also have a digital guidebooks product, which maybe some of you have heard about. It's a freemium product, so the first guidebook is free, and then if you want more under your same account, you pay us a small subscription for that. We got our start, really, with a lot of the folks, I think, are listening to your podcast, which is like, the smaller scale property managers. My co founder, David, managed his own properties out of his house here in San Francisco, and he and I met back in 2015, and he was iterating on, well, basically, he made, like, a really crappy word document guidebook for his property. And he was like, there's got to be a better way. So that was the origin story for hostfully, but, yeah, that's hostfully in a nutshell, and happy to go into more stuff later. But, Luke, I have to say that, like, super psyched to be talking to you today, and I hope listeners listen soon ish, because we have this crazy event coming up next week called Integrations Palooza. I don't know if you've heard about this, but I want to talk about that. Okay, good. [00:03:35] Speaker A: Yes, I have. Let's talk about that. Go ahead. [00:03:38] Speaker B: Okay, cool. So this is our first ever conference that we're running with customers and integration partners, and the vibe is really like we're putting on a big party, and we're inviting lots of different companies in our industry to come and talk about what they do. And I hope that people out there will come to some of the sessions, because it's just this really great way of going to a conference without having to pay or travel and getting the inside scoop on what all these different software companies are doing within our space. And we're doing it because hostfully, uniquely integrates with so many other companies. We have more than 60 different integration partners, and so we really know the who's who in the industry. So we've invited a lot of those best in class partners to come and talk about what they do. And so if you're thinking about dipping your toe into software, this is a perfect way to just get an overview and understanding without having to commit money, time, resources, or even your own time traveling to a conference to do it. [00:04:38] Speaker A: So, is it my understanding that this started as the guidebook which came first? The management, which, by the way, thank you for making the acronym joke. I don't know that anybody's ever done that, and thanks for taking it there. But guidebook first, management software first. Which one? [00:04:53] Speaker B: Well, it's kind of chicken and the egg. So guidebook I joined with David. We made a guidebook company. At that same time, there was another person named Stefan Osmont who was inventing the PMS, the property management platform. And around 2000 and 716 17, we integrated with his product. And David and I also were thinking, like, we have to figure out a way to make a product that's more urgently needed by our customers. And so we met Stefan at a coffee shop called Flywheel, right here by Golden Gate park. And we were talking about integrations and working together. And I walked away, literally that day. I walked away and I was like, oh, I wish we could get these two companies together. This is the co founder that we need and this is the company that we need. So we approached him and said, how do you feel about making this more serious? And we ended up doing a merger of the two businesses together. It was a lot like dating. I don't know if any of you people out there have done mergers, but it's really like dating. You want to ask the question, but you're not sure how deep the question should be. But I'm kind of like a crazy person, even in my dating life, actually, too, where I just like to put the hard stuff first. So I was like, let's just start out with the juiciest part of this, which is like, what's the new thing going to be called, who's in charge and how much do you think you're worth? And we basically went from there. So it was a merger that we did early. [00:06:24] Speaker A: Where did the name come from? Did he have the name? Did you have the name? [00:06:27] Speaker B: Hostfully was our name. His name was Orby Rental. And it's a challenging name because you don't know how to say it when you see it written. It's hard to know how to spell. It starts with an o. There's like some branding challenges with that name. So, yeah, anyway, we felt pretty strongly that we wanted to do that. [00:06:46] Speaker A: Is he still involved? [00:06:48] Speaker B: Yeah, he's still my co founder. [00:06:49] Speaker A: Oh, wonderful. Wonderful. Okay, so all three of you are still involved? [00:06:52] Speaker B: Yes. [00:06:53] Speaker A: Okay, great. And this is 2017 ish, you said. And that's kind of when this whole scene was really exploding. Right? It was 2018. My recollection when Verbo was started to kind of break down their wall and let you in, what did that look like? [00:07:09] Speaker B: Well, actually, it was around that same time. Yeah, 2018, when the APIs of all the platforms opened up. So it wasn't just Verbo, also Airbnb. It was like 2017. Verbo actually had an API earlier, I think, than Airbnb did. I don't know. I have to fact check myself on that. But it was all around the same time. I have two amazing co founders. So Stefan had a relationship with Airbnb before we started working together. And so that was really helpful and it helped us get started with working with Airbnb more closely and then David is a rabid. Okay, and I'll just side note for a second. So Salesforce is another company that was built with a platform strategy where it's like you put your data in Salesforce and you could do a lot of really amazing things with Salesforce, but you also tack on all these additional software tools on top of Salesforce to make it personalized for your business. Whether you need really good customer support and you're in the medical industry, or whether you need really great marketing intelligence and you're in consumer products, Salesforce allows you to select different software partners to cater to that industry. And David had a vision to do that in our industry and so hostfully is a platform product where you can tack on additional. So at that time, David understood, and I did too, but he really understood it better, honestly, because he's a day to day property manager. He understood how important it would be to start to develop these relationships with Airbnb, Verbo and booking.com and others. And we started building out this partner network and we just got elite status with Verbo this year and we're a preferred plus partner with Airbnb. We're actually one of only three companies in the world to have this top level status with Airbnb, Verbo and booking.com. So it's something we've been working on for a long time. I mean, I think this is one of those fallacies of startups is that it's easy to get going and make a successful, you know, I know now that it just takes time. You need to work well and quickly, but you also just need time to make it happen. [00:09:16] Speaker A: So to have all three of them is a huge, like some, there's a lot more people that may have just Airbnb or just verbo, but to have all three is the pinnacle, really. What do you make of all that? How many of these, there's hundreds and hundreds of them. Now, how many of them were around when you first started versus how many came along? And then where do we see those going? [00:09:38] Speaker B: Like PMS or PMS? So, yeah, there's always been so many, and I don't know if people in the audience have seen this slide. It has like a million logos on it that shows all the different companies in the space. It kind of stresses me out, to be honest with you. There have always been many, many companies out there, and that's because there's a lot of smart property managers who've basically started and built the software for their own business. And then they were like, you know what? Maybe I could sell this to somebody else. And as soon as they do that, they're commercializing their own software. So they're basically like creating a little company. I will be honest with you, and say that about four years ago, it felt so crowded and so noisy and so confusing for the customer. Everyone's just like throwing out words left and right and not being really clear about what they provided. I was not sure that we were going to be a frontrunner. I mean, I was like, I'm going to keep going, but this is a very noisy space and this is very unpleasant to be in because even if we tell the truth, it's just really hard for our customers to verify that. But fast forward to today. We've seen a lot of consolidation. So a lot of companies have been taken off the market that are good companies, like guessibot, Myvr. That was kind of like a big signal to us that there was some real consolidation going. You have the whole inhabit IQ consortium of companies now that have all banded together, like streamline and LMPM. And I'm blanking on the other companies in that group. But basically there's a bunch of different kind of consolidated entities right now. And we've had the advantage of just putting our heads down and focusing on building really good technology and a really good business. And it's like I was running a marathon and it was super crowded in the beginning. And all of a sudden I'm at like mile 20 and I look up and I'm like, where is everybody? That's how it feels right now. It's great. I'm actually really enjoying it. We really appreciate our customers for sticking with us through that really crazy time. And we were excited to continue to build a good business. [00:11:35] Speaker A: Yeah, and it's weird because they came out of nowhere, too. I mean, it was literally like 20, 15, 16. Like it didn't really even exist. And if it did, nobody really knew about it. You had escapia and a couple of early adopters, which of course is verbo in house, basically. And then all of a sudden igms kind of popped up a little bit and then you started hearing about some which that one, it's still around, but it's very. [00:12:05] Speaker B: Company. I think journey actually started around that time. There's a bunch of other PMS companies that started at that time, and then. [00:12:12] Speaker A: Literally, like overnight there was hundreds of them. [00:12:15] Speaker B: Yeah. [00:12:16] Speaker A: And I was completely overwhelmed because it's always been my job to teach people how to manage vacation homes. And I had all these questions coming out of nowhere. What is this software? That software? And I'm like, I'll be honest, man. I don't know. It's only been around for two weeks. [00:12:34] Speaker B: Totally. I mean, I was going at that time, I was going to the trade show and sitting through other people's demos. Nobody knew who I was. It was great. I would pretend I was a customer and I'd be like, yeah, can I see a demo? And they would just show me their software. And it was very confusing because I even felt confused. I'm the one who's making it. It was terrible. [00:12:59] Speaker A: What do you think sets yourself apart from the ones that aren't going to make it? Just good old fashioned hard work or what is it? [00:13:06] Speaker B: I don't think it's hard work. I think you have to work hard to have a successful company. But I actually feel like it really comes down to planning and really good financial management and having a wonderful aligned team on what your goals are. So, for example, at hostfully, we've known that from day one, we want to grow really thoughtfully. I've had investors who've said, I really want you to tell me you can ten x this company which grow ten times in a year, and I just say, no, that's not this kind of business. And they're like, well, that's unfortunate because you won't qualify for investment. I'm like, well, okay, we'll have to find another investor. I think from day one we've been really good about drawing boundaries around what we think is realistic. It works well, honestly, it works really well because I don't attract the wrong investors. But it also works really well with customers. We don't over commit to customers. We never say we're going to do something, then don't deliver on it. We don't over commit to employees when we say we're growing. We did like one tiny layoff at the end of 2021 with like 2% of our workforce. But other than that, we've never done any sort of big layoffs, chunks swaths of people in the company. And at that time it was regrettably that we had to do that. But it was like one to two people, really. That was just like planning challenges. But I think that overall, what we've done is be really thoughtful about how we want to grow. And we've never had the luxury of having a ton of capital. Maybe I'm bad at fundraising or just was hard for whatever reason. And so we just never really even had the opportunity to get ahead of ourselves. And that's something that just is luck, because we were raising money at tough times, just the way that the money was used in the business. And I think it's like good planning, hard work and timing. Timing of which it's just fate. Like, I can't control that. But I do think that the planning and thoughtfulness is really important. I see now when I'm evaluating companies, sometimes I do like small checks in startups, very few, and we're talking like really small checks, investing in them. What I'm looking for is the thoroughness and planning. I think a lot of people have great ideas, and ideas are kind of cheap, and they can talk about them and sell other people. But I think what sets really good entrepreneurs apart is in the planning. [00:15:47] Speaker A: Join me live every Thursday for a weekly Q A. All about short term rental if you like my vibe. If you're digging the long hair extraordinaire cashflow Carl and want to ask me questions in real time, join [email protected]. It's a lot of fun. Stressions.com are you a host yourself? [00:16:11] Speaker B: I am. I have a vacation rental in Windsor, which is like in Sonoma county. We don't rent it out very often, though we usually use it primarily for our own. [00:16:22] Speaker A: Great. I'm in long term as well. And that space, you really only have like three top dog management softwares, give or take. You got bildium, appfolio, and apartments.com. Those are the ones that come up most often. And especially if you're going to go with a professional property manager, it's really going to be one of those two portfolio. We're building them. So do you feel that's where your space is headed? We're going to narrow this thing down to three or four big guys, and then everybody else will just get, will they get swallowed up by the other companies or will they disappear or both? [00:17:01] Speaker B: I don't think it's going to happen overnight. I do think we will get to a consolidated form of market. I think it's probably going to be more like three or four solutions versus like two. I just think it's going to be a little bit more because technology is easier to build right now than it was when Appfolio and bilium were built. Also, appfolium and bildium don't use the same platform strategy that we're seeing in our industry. So the platform strategy leaves more room for creativity and innovation, which is honestly good for everybody because it means that companies are going to get better at more specific needs that they're trying to solve versus trying to solve it all and building them and applio are kind of like a do it all in one kind of. I mean, for the most part, I think you could tell me I might be wrong, but in our industry, what I think is there's going to be continued platform nature in the industry. There's going to be like three to four big players. But I think this is all not going to shake out until like five to ten years from now. It's going to take some time. I think it would be really hard for another pms to get started today or in the future and win. So it's kind of who's on the field right now that I would bet on. [00:18:14] Speaker A: I agree. And I think it's been very confusing for the consumer as well because this space just went nuts. I mean, it's almost like it's a brand new space, but it's really been around for a couple of centuries. It's just changed so much with the Airbnb coming around again. People forget Airbnb has only been around really since about 2010, eleven. It started in seven, but it wasn't even a thing yet until about, I think they had a Super bowl commercial in 2010 or eleven was like their big break or whatever coming out. [00:18:44] Speaker B: Yeah, exactly. [00:18:46] Speaker A: And that's only 1213 years ago. And of course, Burbo has been around since the late 90s, but it's been very confusing for a consumer to come into this because as a guy like me, I feel like I have to know every detail about all of the software before I can make a decision on which one to use. And I have a very much of a maximizer way of doing things where I completely obsess to the point where, okay, this is why I don't want that one, and then I can finally move on to the next one. And it did get super overwhelming there for a while. And I think you're right. I think it's probably going to be a four or five year shakeout kind of thing and we'll be left with, I mean, really, it already is. I feel as a consumer, it feel like it's pretty much already there. There's like the top six or so, and then there's a bunch of them that I never hear of or nobody ever talks about, but. Wonderful. So what do you see in store for not only the industry, but for you guys before we talk more about the palooza? [00:19:56] Speaker B: Well, it's a great time because of this competitive dynamics that you're talking about for consumers to be in the industry, like using software, because as a software company we are hard pressed to stay super competitive and innovate really fast. And so one of the things I always tell consumers to look out for, and I think this is what's coming next in the industry overall, is the velocity of innovation in a software company that you're going to work with. So it is what features they have today and what functionality they have today. But it's also how many releases are you releasing and what were your last big things that you launched? When did that happen? Can I see documentation of that? We're seeing a real differentiation between real software companies that are pushing on innovation and leaning on that, and then companies that are kind of like, for whatever reason, not going as fast. And actually, even with hostfully, we love to go fast, but we're not even going as fast as we'd like. So it's just opening the door a little bit to what it feels like on the inside. We want to do more than we can. But one of the most important things that I would tell a friend if they were shopping in this industry, is look for the software innovation and look for the customer care and support, like how communicative that company is going to be with you around what changes are going to be happening. And use that as a way of betting on what tool you want to use. Because it's a pain in the butt to switch. [00:21:22] Speaker A: Oh, it is, yeah. Switching is a lot, especially if you got a lot of properties, it can be a big pain in the rear. Can you explain to me for the end user the relationship between the guidebook and the management software? Is it the same username and password? How does that work? [00:21:39] Speaker B: No, it's actually two different platforms because those companies were separate in the beginning. So because hostfully's PMS is built with a really strong API, we have an open API for customers to use, but we also have a partner API, which is really powerful. We hooked up the two products together with an API. So it is two different logins and passwords, but the information is synchronized across both. So if you want to sign up for a hostly property management platform, you can create guidebooks that automatically have all the addresses of your properties. For example, you can also do cool things like push lock codes into the guidebooks. As a field, you can turn on the guidebooks and turn them off at certain times based on the stay dates, you know what I mean, for your reservations. So there's a lot of cool things that we've done to integrate the two together, but they are separate products and they're sold separately. [00:22:33] Speaker A: But I could use the same username and password if I wanted to. The software, it wouldn't know the difference. [00:22:37] Speaker B: Yeah, you could. Although we don't recommend that for security purposes. [00:22:41] Speaker A: Oh, really? Yeah. Well, yeah, of course. Did I just sound like an old person? Is that what you're the flashlight on on my phone right now? [00:22:49] Speaker B: We recommend using lastpass or one password to do all your password manager PSA to everyone out there, use those things. I just started last year. Much better. [00:22:58] Speaker A: Okay, great. Okay, cool. All right, so let's talk more about the Palooza, which actually started yesterday. Basically, you're giving all of your partners the opportunity to talk about themselves, and it seems like a really cool event. And it does continue today starting at noon east. If you can tell us a little bit more about that. [00:23:18] Speaker B: Yeah, so it's the integrations palooza. Very exciting. We are going to be having so many partners. So today, which is March 5. If you're listening to the podcast today we have remote lock clearing, beyond which is a price dynamic pricing tool. Homes and villas by Marriott boostly safely charge automation. That's today. Tomorrow we've got links. Guest guru Verbo Hudson Creative studio. They make websites vacate my way, which is an OTA price labs, which is dynamic pricing and breezeway. And then on March 7, we have. I'm not going to keep reading, but anyway, go to our landing page, which I think we're going to link to in the show notes, and you can check out all these partners. And what you can do is actually register for each of these sessions individually, so you can just pick off the ones that you want to go to. We're not going to have a wraparound software that does a whole conference. It's just like coming into the different sessions, but you're going to have not just the partner that's going to be there, but also a hostly team member who will be in the room, too. So if you have any questions about the overall event or about hostfully, you can also be asking them there. So just feel free to join. [00:24:27] Speaker A: Love that the short term shop needs to be in on this next year, although we're not a software, so that probably doesn't really work. [00:24:34] Speaker B: It's kind of a cool idea, though, actually. Like having an influencer hour or something like that. [00:24:38] Speaker A: Yeah, we'll get Avery in there to tell jokes or. But anyway, so, yeah, it starts today, around noon ish. It started yesterday, but it will resume today around noon. And man, this is a star studded cast. You basically got everybody in the business here. [00:24:53] Speaker B: Yeah. I also wanted to say that if people are listening to this late, you can go to the link and watch the recording, too. So all this content will still be available. [00:25:04] Speaker A: And how do I find that? It's just on your website. It's hostly.com integrationspalooza. [00:25:10] Speaker B: That's right. Yeah. Hostly.com integrationspalooza. And just click into any of these ones, any of these sessions, and I'll make sure that we can get to the recording. It doesn't show it right now because we're recording this beforehand, but I'll double check it later on and make sure that people can get to that recording later on. [00:25:28] Speaker A: Yeah, this is super cool. Very cool. I love it. So did beyond change their name? Is it no more beyond pricing? [00:25:34] Speaker B: That was a while ago. [00:25:35] Speaker A: Oh, where have I been? [00:25:37] Speaker B: I think actually that was pre verbo. [00:25:39] Speaker A: Oh, man, I'm outdated. I'm outdated on that. Well, let's give me a little bit more on the future of the business. Where are we going with this thing? I feel like we got a pretty good future as far as quality of bookings and health of my listings. I'm excited. I'm excited for a new year. So do you have any warm thoughts that we can leave the listeners with for a 2024? [00:26:03] Speaker B: Yeah, a couple of things. One is do your planning, your financial and operational planning, because it's going to help you. I think I've said that a couple of times, and I know that's different for property management businesses compared to software businesses, but it's still so important. So don't forget to do that. The second thing is that we're going through this big wave of professionalization in the industry where you're seeing things that are really interesting that I think we all knew were going to happen, but we're seeing them actually happen, which is like when you think about staying in an accommodation, whether it's a hotel or a short term rental, those two things are being used interchangeably now. So what that means for property managers is that they need to think about the guest experience like it's that of a hotel, meaning it's consistent, it's high quality, it's very clear to the guests. So I would spend energy thinking about your brand and your messaging and your communication strategy and your responsiveness when it comes to guests because I think that we're seeing this dovetailing of the two industries a little bit, and consumer expectations are really high for short term rentals compared to where they've been before. So that's something that we continue to need to work on as an industry. I also think this is a time to be open minded about and investing in technology. And we've seen companies use automation in their operations, of course, in their software, but just all over their business and become very successful doing so. And it's all about leaning into a like there. There's one property manager based in New Orleans. This is actually, if you go on LinkedIn, you can see there's a case study about him, and he's just leaned really hard into upsell. So he knows how to offer guests the right offers at the right time. He does it using hostly guidebooks and the property management platform. And he makes extra money compared to other his competitors in region, not on the price of the booking, but on all the other instate services that he can provide. That's one example. Then we've got another property manager who's based in another place who's doing amazing things when it comes to revenue optimization. And they've been able to get more out of their business from just thinking more smartly about pricing and seasonality and other cool ways of maximizing occupancy. And both of them, I mean, they both could be doing the other thing right, but it's like they're not trying to do everything, they're trying to do one thing really well. So I think knowing yourself, knowing what you're good at, what you love to do, and then letting that lead your business is really smart. And we're in this time where I don't think it's going to get tremendously more competitive for short term rental property managers. But I do think the competition is pretty high, and it's going to stay there. And so it's going to be a hustle for a little while. [00:29:02] Speaker A: Would you say that most of your clients are third party or are self managed? [00:29:08] Speaker B: It's a mix. I mean, it's going to be kind of tied, honestly between the two. We have a lot of small scale managers that are just doing their own, and then we have a lot of professional ones. I mean, if you think about it by property count, definitely the professionally managed ones like overwhelmed, but by number of customers, it's probably like close to 50 50. I'd have to check that. [00:29:27] Speaker A: But let's say I'm a noob and I'm trying to decide what software to choose. I would have no reservations going with you, even if I only had one property? [00:29:35] Speaker B: None. And I mean, this is a type of customer that is a really good fit for us, is this single property customer, because we offer a lot of the more robust functionality that some of the bigger software companies offer, but we allow single users to sign up and some of those other companies don't like. They have a property minimum, for example, that you need to meet in order to get started with them. But for hostflow, you can start with just one property. Actually, we've had people who start with one property and they use it as kind of like a testing ground, and then they scale with us and it works really well because they've scaled in an easier way. They haven't played things so risky in their business where they're having to do things for 20 properties all at once. Right. They're just doing it for one. And once they get everything perfected, then they can scale it up to the others. [00:30:23] Speaker A: Right? Well, let's face it, it is very difficult to buy real estate and it's expensive to buy real estate. So taking your time is a wonderful thing. Yeah, you should probably do that. And I agree, budgeting is a huge deal that's very timely and topical right now because we're coming 1 March and a lot of people have been a lot of noobs. You'll see them struggle through it. Most market slow season is going to be Jan and Feb, right? Not every market, but most markets. So a lot of noobs didn't realize that was coming, and then they had to come out of pocket for two months. So she's right. Margo is 100% right. Now is the perfect time to get your budget going for next offseason because you blink your eye and it'll be offseason again. [00:31:04] Speaker B: Yeah. And actually, we see that even in people who talk to us with our team around this time of year. They are thinking really smartly around their seasonality. Like we like customers who come to us during slow season because first of all, they're being more thoughtful about their business overall. And secondly, when they're trying to make a decision, they're not feeling rushed and stressed because, you know what I mean? It's never good to be making choices or decisions when you're stressed out. [00:31:29] Speaker A: Just like I never thought about that. The perfect time to switch management softwares is off season, which again, not all the time, but usually in Jan, Feb, depending on maybe if you're in a ski market, it'd be in the summertime. Wow. Yeah. I always think of that as my time to paint and redo some tile. But you're right, man. If you have any interest in switching softwares or maybe may, it usually slows down a little bit sometimes, but wonderful, wonderful. Well, listen, you are awesome. The Palooza begins once again. Today's day two of the Palooza starts at noon eastern time, and you can sign [email protected] we'll put the exact link in the show notes. Margo, anything else you want to like. [00:32:13] Speaker B: A my door is always open if you or any of your listeners want to email me, my email is [email protected]. I'm happy to help you in any way. I won't hard sell you on hostfully. I built my career around helping, and I plan to live my life that way forever. So I really care a lot about this community and overall industry and just want to be here to support everybody. So if anybody wants to reach out, just have them reach out to me. [00:32:41] Speaker A: Wonderful. Well, you are a ray of sunshine, and I can't thank you enough for coming to party with us here at short term rental management. Enjoy the palooza. It's going on for a few more days. And on behalf of Margot from hostfully and long haired Luke Carl, don't overthink it.