Aren’t we all always on the lookout to tweak our investments? Make them more attractive? Earn a bit more per week? If you have made the jump from traditional renting into the exciting world of short-term vacation rentals we have good news for you. In this niche of the market it is much easier to increase your revenue with a few nifty tweaks that cost nothing in most instances.
Allow One Night Stays
Many people shy away from welcoming guests for one night only. However imagine over the year you have 60 extra single nights booked. Even at a conservative nightly rate of $100 you would make an extra $6,000 per annum.
Allow pets to stay
Now that might sound scary initially but remember most people that can afford to travel with their pets are actually people at the top end of the market. People generally also travel with their pocket sized dog and not their Husky. Since there are not many properties that offer pet friendly stays you will tap into a market that has much less competition and people are also willing to pay a premium to be given the freedom to bring their pet. This option could add up to $3,000 per annum to your general income.
Offer substantial last minute discounts
Of course we would like to be booked all the time at the best and highest rate. However the reality is that sometimes nights are empty. If your property is empty a day or two out halving the price seems extreme but remember: Making 30 times $100 for one night instead of nothing because its still listed at $200 makes another $3,000 dollars difference for you at the end of the year.
Allow guests to book instantly
Guests that are allowed to book instantly through Airbnb already have to fulfill quite a number of requirements. And in the end if someone is looking for a place and finds something they like and can book on the spot they will not message you and hope and pray that you will accept their request, they will just book the other property. Also remember Airbnb is built on trust and just like you, most people are responsible human beings. Not offering instant book because you are worried one in a thousand people could not treat your home responsibly is a false economy in our eyes. By allowing instant book you can increase your occupancy substantially which could add thousands of dollars to your yearly revenue.
Log into your Profile daily
The more active you are on the Airbnb Platform the higher your property shows in the search results. The higher it shows in the search results the higher your changes of getting booked.
Implementing all of the above might seem a lot at once. But start with something you feel comfortable with and take it from there.
And if you like to hand the responsibilities to the professionals….We are here for you….
AirKeeper is a new property management agency that is changing the way residential real estate is leased. We maximize value in homes by transforming traditional long-term rental properties into five-star, short term rental homes.