How to Run a Sucessful AirBnb Rental Property
There are over 7 million Airbnb listings worldwide, spread across more than 191 countries and regions. Many property owners turn to the service to help them earn extra money. Listing a room, apartment, or home on the site is fairly easy, and hosts maintain a lot of control. This can make being an Airbnb host a great side hustle, but only if you approach it properly. If you want to make sure that you run a successful Airbnb rental property is a success, here’s what you need to do.
Post Great Pictures
When you list a property on Airbnb, you get to add pictures to show off the space. These serve as a first impression to would-be renters, so you want to make sure that they stand out and showcase the best of what your rental has to offer.
Make sure everything is clean and well lit. Include shots that show the room(s), surrounding area, and available amenities. Try to capture your property’s personality and add a few niceties, like fresh flowers, to make the images enticing. If you’re having trouble, then investing in a professional property photographer might be a smart decision.
Be Available and Personable
Before a renter can secure an Airbnb property, they have to interact with the host multiple times. If you aren’t timely about responding to messages or making decisions, you might miss out on some great customers. As a result, you need to make sure you have time for these interactions if you want to be an Airbnb success. Additionally, aim to be professional and friendly, as building a rapport will increase your chances of landing a guest.
Set the Right Price
Since hosts get full control over the pricing, you want to make sure that your property hits the right target. You want to be more affordable than comparable hotel options and competitive to other Airbnb rentals in your area. While you don’t have to be the cheapest, your price does need to be fair based on what your property offers.
Install a Lockbox or Smart Lock
If you want to make it easy for guests to enter the property, a lockbox or smart lock is a great addition to your rental. It allows guests to get inside without you having to physically hand them the keys, so it doesn’t matter if they are running late and miss their anticipated arrival time, as they won’t get stuck waiting for you to get there.
Know the Laws in Your Area
The laws about property rentals can vary from one city to the next. In some locations, you have to pay an occupancy tax. At times, renting out a property for less than 30 days is actually illegal if you aren’t physically present. If you don’t know the laws, you might break one, and that could cost you big.
Add a Nice Touch
Having certain niceties available for your guests can help them have a more pleasant stay. Make sure you have basic toiletries on-hand and consider making board games, movies, or other kinds of entertainment available. Stock the room or kitchen with a coffee maker, coffee, tea, and other pleasant gestures. If you want to go the extra mile, you could have fresh flowers and a bottle of wine or other welcome gifts.
Running a successful Airbnb can be challenging, but it can also be quite lucrative when done right. By following the tips above, you can increase your odds of success, allowing you to secure some great reviews and earn some income from your property.
Do you run a successful Airbnb rental property? Do you have any tips that can help other hosts succeed? Share your thoughts in the comments below.
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