How to Make the Most Money Out of Short Term Rentals on Airbnb
A lot of people today use their property in order to generate extra cash. And in some areas, this is becoming a serious business. The good thing about short-term rentals is that you can monitor the property regularly. You don’t have to worry that damage to your property has accumulated. One problem that homeowners encounter is that long-term renters typically incur damage in the property more than short-term renters.
Now, the question is actually how to maximize the money that goes into your pocket monthly as a host? Keep in mind that it is important to increase the number of people that stay in your home every month. So how do you actually do it?
Improve The Property
You have to understand that the property should be comfortable for your guests. The guests may not be paying the same price tag as a hotel but this doesn’t mean that the experience should be less impressive. What people expect is a great experience when they stay in your vacation rental. You need to first fix all the amenities from the kitchen to the other common areas.
Maximize the number of people staying in your rooms
You can also maximize the property by increasing the number of beds that it can accommodate. And for this reason, you may even have to spend some money on renovations. However, keep in mind that though it is a bit expensive, this can be a great move on your part.
Focus on the interiors
You also want to make sure that you take a closer look at the aesthetics of your property. In this case, you want to find someone who can redo the interiors in order to make the property feel warm and welcoming. You also want to make sure that it looks good in the photos.
Focus on your marketing
Marketing is key in order to get people to book your property. You would want to maximize social media. There are some hosts that even make sure that the house has an area wherein people could take their photos and even make use of their hashtags. This way, you can improve your network and get more people to go to your property.
Communicate with your guests
You also want to make sure that you are going to communicate with your guests. Since you are dealing with short-term rentals, you have to be patient. You will be getting calls and receiving messages from different people every now and then if your business is doing good.
If you don’t have the time to answer everything, you can hire a freelancer who can cover for you. However, if there are concerns regarding the property, you have to immediately address the situation.
Minimal contact with guests
You want to make sure that there is minimal contact with your guests as much as possible. For this reason, you want to have clear instructions how to book in your property. The doors should be digital in order to allow your guests to just check themselves in and check out on their own without your assistance