9 Insider Tips for AirBnb Property Owners
If you own an Airbnb, then you know that being a host is a full-time job. A short-term rental business requires a great deal of time, effort, and energy to manage. However, knowing that you run your own business, the process is mostly enjoyable and fulfilling.
Whether you are just starting to look into the vacation rental industry or trying to find ways to improve current listings, the following 8 insider tips for Airbnb property owners will make the task easier. So, let’s get started!
#1 Be Flexible
Being flexible with the length of stay is likely to attract the most attention. Some Airbnb property owners require a multi-night stay, which can deter guests looking for a quick getaway. If your property has a great location, but you’re not getting bookings, you should consider doing one-night minimums and allowing same-day bookings.
#2 Ask a Fair Price
As with any other market, pricing your rental too high will scare most customers, and pricing it too low will cut your profit. Price is one of the biggest factors when guests choose a property to stay in, so do plenty of research in your local area to set a comparable price. You can always go in around peak season or holidays and increase it accordingly.
#3 Display Accurate Photos
Having nice photos is important for attracting attention to your listings. Just be sure that these photos are good representations of your property. Take each photo so that it accurately depicts each area. If you take the photos by using a wide-angle lens for every shot, guests may be disappointed when they arrive and realize the space is much smaller than they expected.
#4 Provide Plenty of Amenities
Though staying in an Airbnb is inherently different from renting a hotel room, guests still enjoy having lots of amenities at their convenience. Some listings even specify exactly what extras are offered, such as blankets, toiletries, towels, clean sheets, coffee, snacks, and more.
#5 Become a Local Guide
Many Airbnb guests are booking more than just a place to stay; they are booking an experience. Including information about local transportation or attractions is helpful info that most people will appreciate. You can include coverage on tourist sites, bars, restaurants, subway stops, etc.
#6 Respond to Reviews – Good and Bad
Receiving a guest review can either make your day or sour it. Regardless of what type of reviews are left, it’s essential to respond to every one of them politely and positively. Use the negative reviews to learn from the guests and find ways to improve and implement changes to improve future stays. Doing this will show potential guests that you are attentive and engaged, so most of them will overlook past experiences if they feel you handled them properly.
#7 Establish Trust
Building trust is something that starts at the beginning. Your first step is to ensure that your profile is completely filled out with accurate information. This helps establish trust with guests and search engines! Do not skip steps; ensure your property details are the same across every platform.
#8 Vet Your Guests
Ultimately, you’ll be inviting a stranger into your home, so conducting some research is helpful. There are several ways you can go about this, with the first being to read other reviews from past Airbnb hosts. If they have no prior reviews, feel free to ask questions about them and their trip. If you feel unsure about any guest, it’s best to move on and not rent to them.
#9 – AirBnb Investor
Did you know if you are the actual owner of an AirBnb property or want to become one, (not as a tenant on a lease) that you can apply for a mortgage loan using the AirBnb rental income? All you need to provide is either the last 12 months of AirBnb income receipts or get a no doc investor loan without rental income. Find more information on this page of our website.
