Got a place you’re not using all the time? Hosting guests can bring in extra income. If you’re considering renting out your apartment, residence, or property on Airbnb, Keep these tips for running a successful Airbnb business in mind.
- Quality Photographs
- Time
- First Impressions
- Individualized Experience
- Price
- Legalities
- Cleaning
Quality Photographs
Investing time in taking high-quality photographs can increase bookings. Take photographs that capture the character of your place and any amenities. For example, you may want to include a photo of your kitchen if you offer food preparation services. Consider hiring a professional photographer to take photos of your residence, which stands out from the rest.
An Airbnb customer reported that he traded a night’s stay at his property for professional photography services, and increased bookings resulted.
Time
We know how busy life can get. With Airbnb, you can rent a room anytime, anyplace, anywhere. But you need to stay on your toes because the time and commitment required are sometimes substantial. Especially if you want guests to wait as little as possible to hear back and see that someone is looking after them as a host. You only need to respond whenever there is a question or problem with the reservation, but it all depends on how much time you want to devote to hosting guests.
First Impressions
In a new city, arriving at a new home can be daunting. Knowing that a host is friendly and approachable can help make the experience more special, regardless of the home type. Successful hosts often can imagine themselves as a guest, and it’s a good idea to reply quickly and pleasantly to all guest queries, which creates a better rapport and connection. This will increase the chances of guests choosing you over someone else.
Individualized Experience
Elevate your listing by creating an experience unique to your location and target audience. Studies show that people are much more likely to buy a product when they can visualize themselves doing so, which is why it is important to think about the ways you can create a personalized experience for your guests that they won’t be able to get anywhere else.
Price
Airbnb’s dynamic pricing system is designed to calculate the optimal nightly price for a listing based on demand and availability. While some hosts have opted for manual pricing, the smart pricing feature is an automated way to optimize one’s earnings in a given period. The more flexible the pricing (i.e., weekday vs. weekend), the better results will be in booking out your property during busy or slow seasons.
For example, if your own travel schedule is busy over weekends due to work, Airbnb’s dynamic pricing system will increase your nightly rates during those weekends instead of leaving you with an empty house. Airbnb provides analytics that helps hosts determine where they can make more money by knowing how their local market compares to the country’s average daily rate.
Legalities
Legalities vary from city to city, so it’s best to check the laws where you live. You’ll definitely need to pay an occupancy tax on your rental income if you live in San Francisco, Portland, or Paris – and in New York City, it’s illegal to rent a property for less than 30 days if the primary resident isn’t present.
Cleaning
Cleaning the property before and after a guest visits is one of your most important responsibilities.
Those looking for an additional income stream or interested in being their own boss could benefit from listing their space on Airbnb. By creating a helpful and inviting atmosphere for guests, you can earn thousands of dollars per month without being there, the company says. So, I hope these tips will help you to achieve your goals. Best of Luck!
