How to get your property Airbnb ready and generate higher returns

Answers-

So you’re ready to be an Airbnb host, you’ve got a sweet space and you’re ready to list. The first step on your Airbnb business plan: make your home Airbnb ready.

We know that hospitality and guest experiences are the best ways to get great guest reviews and rank better on Airbnb. But how do you make sure your house is ready for the best Airbnb guest experience?

Key Elements to Make Your Home Airbnb Ready

There are some standards to follow to make your home Airbnb ready, but first you want to understand the key elements of creating a hospitable space. Ask yourself these questions:

  1. How does my space provide comfort?
  2. How does my space provide convenience?
  3. Does my space offer information about the neighborhood?
  4. What are the basics my guests will need during their stay?
  5. Is there information about common questions and concerns, am I offering a means of problem-solving for other challenges?
  6. How can I go above and beyond a luxury hotel?
  7. Get more booking with these 154 power words to use in your Airbnb title
  8. Transforming Your Airbnb Space from Personal to Guest Friendly
  9. Cleaning Your Space
  10. One word: spotless.

This is how your space must be for each and every new guest. You are competing with hotels and luxury brands, even the worst hotels have this basic standard of service. You have to be sure this is done every time. Hiring a professional cleaner may be more your speed if you’re not a fan of scrubbing.

Read the guide for how to clean your Airbnb space

Removal of Personal Items

First, you want to be sure you have removed all personal items that are not functional for your guests. These are items that are not things you would generally share with others. You’ll want to store these in another place, or in a pantry you can lock.

Broom / Vacuum

Time for Sleep, Make Sure Your Guests Get Some

Nothing is worse than a terrible night’s sleep. Especially when you’re staying somewhere for more than a couple days. It can totally bomb a guest experience. Be sure not to overlook this major detail with some very minor solutions.

Tips for Running a Successful Airbnb Property

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Quality Photographs Make a Difference

The time that you invest in taking high-quality photographs is well worth it. Ten photos of your residence is optimal. Take photographs that capture the character of the place, the surrounding area, and any amenities. You should also consider hiring a professional photographer because the average quality of photographs has markedly increased on Airbnb’s website over time. Professional photos can help your listing stand out from the rest. One host reported that he traded a night’s stay at his property for professional photography services and it resulted in increased bookings.2

Time

Renting out a property on Airbnb requires a substantial time commitment if you want to be successful. Be prepared to devote some portion of each day to the task. One advantage that traditional hotels offer is time, because booking a hotel room only requires one interaction. By contrast, getting a place on Airbnb requires multiple interactions with the host. So to reduce the amount of waiting time for guests, you need to pay constant attention to notifications and be ready to respond at any given moment.

First Impressions

As simple as it may seem, friendliness is a distinguishing factor for Airbnb hosts. Successful hosts are often those who are able to imagine themselves as a guest, and it’s a good idea to reply quickly and pleasantly to all guest queries, which creates a better rapport and connection. This will increase the chances of guests choosing you over someone else.

Price

One main reason why individuals rent an Airbnb property is that it’s more cost-effective than staying at a hotel. Pricing the listing reasonably can also increase the likelihood of guests posting a good review, which in turn creates a multiplier effect that’s crucial to running a successful property. In addition, hosts can use Airdna, a website designed for hosts to assess how they can make more money by using analytics.

Response Time

Responding quickly is essential for creating the best experience for your guests and can also reduce the chances of potential guests booking somewhere else. Creating prepared responses can help save time when responding to inquiries from prospective guests.

Installing a Lockbox

If guests are running late or have travel delays, one way to save time is to consider installing a smart lock or lockbox. This way, hosts won’t have to be hanging around late in the evening to give the guests their keys—guests can essentially check themselves into their Airbnb residence.

Finding a Desirable Location

You have decided to invest in Airbnb, got your finances ready, and you are now thinking of buying an Airbnb investment property, where do you start? Well, to begin your property search, you must first find a suitable location. The profitability of your Airbnb rental will greatly depend on its location. You can always change the property to how you want it to be, but location is permanent. Therefore, finding the right location should be your priority, even before the rental property itself.

Understand the Local Airbnb Regulations

After finding an investment location, the next step to ensure success with the Airbnb strategy is to check the local Airbnb laws and regulations. To avoid paying hefty fines that will affect your ROI or even getting your Airbnb investment shut down, it’s vital to do things by the book. Just because the Airbnb rental strategy is quite popular nowadays doesn’t mean that you can invest just anywhere. Some cities don’t have friendly regulations for short-term rentals.

Searching for a Profitable Rental Property

After ascertaining that the Airbnb rental strategy is both lucrative and legal in your city of choice, you can now begin searching for properties for sale. There are a number of vacation rentals in the market, all of which are different. This makes zeroing in on one investment property a challenging task. Your budget will also determine the kind of property you can afford. To quickly find the best property for you, it’s good to have an investment criterion.

Analyzing the Investment Property

To find the best deal, you need to run the numbers. Success in real estate investing depends on the numbers behind the deal. These numbers determine whether buying a particular investment property makes financial sense. You need to account for all expenses associated with owning an Airbnb rental so as to estimate the expected profit. Some of these expenses include Airbnb service fee, insurance, mortgage payments, taxes, etc.

Sources- https://www.housing.vic.gov.au/

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