Among the most lucrative businesses out there in the sharing economy is Airbnb hosting. In the first six years since the launch of the website that allows anyone to rent out their homes, the company has made billions of dollars, but it has also made tons of money for the rental hosts. In Australia alone, the listings have skyrocketed from 5,000 in 2012 to a whopping 148,000 in 2017!
However, you don’t have to offer luxury accommodation, but there are some things to bear in mind that will give you the upper hand once you decide to venture into the world of Airbnb rental.
Make an effort with your photographs
Good photographs are the single most important aspect of marketing for your rental property. This might seem too obvious, but many new hosts deeply underestimate both the power of good image and their own photography talents. Most Airbnb photos today look so good that it’s essential you go above and beyond to stand out.
Great photos will certainly increase your bookings, but even if you can’t afford a professional photographer, there are simple little things you can do to make your photos better. Add some fine touches such as a cheese plate and wine on the table, a perfectly made bed, creatively folded bathroom towels, and throw in a few photos of local attractions Sydney has to offer. Accent your amenities, the character of the place, the location and all its appeal.
Set up reasonable prices
In general, people trust staying at a hotel more than at an Airbnb property, and they opt for the latter for two reasons typically – the possibility of staying somewhere unique, and the potential money savings. Expert advice is to rent your property all the time at one third of the price. People like to save money so they will choose a reasonably priced place. And if you leave them satisfied, they will leave you a nice review.
Have the place well-stocked
Before your guests arrive, make sure your place is well stocked with all the necessities, but include recreational items as well, in case bad weather or personal choice call for a lazy day indoors. It doesn’t have to be food, but ass some condiments, coffee, tea, biscuits, and toiletries in the bathroom. Throw in the latest magazines, books, DVDs and board games. Go a bit retro and find a classic radio or a record player with a small record collection – your guests might be thrilled trying it out!
In addition to providing everything guests need, make sure your place is fully functional. Emergencies never come announced and they could happen day or night. The last thing you want is a broken toilet in the middle of the night, so it’s practical and wise to have professional plumber from North Shore on your speed dial. In this way, come any emergency, you’ll have it fixed in no time.
Sell the experience
While photos and price are the important factors that influence a guest’s decision, Airbnb users commonly look for more than just a “trip.” They choose Airbnb because they want a different experience from the cookie-cutter places and enjoy something affordable but authentic. Aim your Airbnb listing on selling the experiences, not the property facts – instead of saying you offer a state-of-the-art kitchen with stainless steel appliances, say that the farmers’ market is close by and your guests will be able to make a gourmet meal in the fully equipped kitchen.
Finally, complete the experience with a little welcome present as well.It doesn’t have to be expensive but rather tailored according to your guests – a few lollipops for a family with young children, for newlyweds it’s a small bottle of scented massage oil or just a small token of appreciation such as a welcoming note and an inspirational quote on a chalkboard.
Running an Airbnb is a complex business and does take a lot of time, effort and resourcefulness. These tips are just a few to help you get going, but once you start, you’ll learn the tricks of the trade and improve yourself and your business as you go!