Investing in Airbnb rentals has become a favoured strategy for many real estate investors. In fact, hosting on Airbnb makes for an enjoyable experience in 2019 and it can make you plenty of cash if managed well.
Airbnb hosts have to meticulously plan their Airbnb rentals whether renting out a single room or buying property for Airbnb. Exelair has put together 7 of the best Airbnb tips to help you succeed with your short term rental property.
Airbnb Tips for 2019 #1: Consider your location
If you are considering buying a rental property for the sole purpose of renting out on Airbnb, then you must consider the location in your valuation. When looking for rental properties, particularly an Airbnb property, you have to study Airbnb rental data within your desired location. Select a location with the highest occupancy rates in order to succeed in your Airbnb renting business in 2019 and beyond. At Exelair we use professional tools to analyse the Airbnb market in Cyprus and can help you with metrics to get the best real estate investment with the highest potential for returns.
Airbnb Tips for 2019 #2: Study Regulations and Legality of Renting Out on Airbnb
Because the hotel industry has been suffering from the rise of short-term rentals such as Airbnb, its lobby has been pushing for more severe regulations on short term rentals. In some cities around the world, Airbnb regulations have been straining, forcing many property owners to opt out of investing in Airbnb. The trends are expected to continue in 2019 as well. Therefore, it is important that you study regulations before you decide to buy an investment property for the sole purpose of renting out on Airbnb or a similar platform. Refer to our blog post on the Cyprus Aribnb regulation may impact short term rentals.
Airbnb Tips for 2019 #3: Take Professional Photos of Your Airbnb Rental
You might wonder how to get more bookings on Airbnb. Well, displaying high-quality photos showing your property in the best possible light will certainly do that. In order to attract guests and make the most out of your Airbnb rental property or room, you should have an attractive profile and one that offers plenty of pictures.
Photos make up for an important factor in the decision of renters. This is because Airbnb guests often come from afar and do not have the accessibility to visit the property beforehand. Therefore, they often resort to pictures to decide on the livability and the option of renting your space.
As a matter of fact, photos are THE most crucial factor in obtaining bookings. You should certainly invest in professional photography to sell your service. Fortunately, Exelair offers professional photography services. Make the most use of this service and increase your property listing’s attractiveness today.
Airbnb Tips for 2019 #4: Maximize Your Airbnb Reviews
Real estate investors often fail to give Airbnb reviews their weight. When screening for Airbnb properties, one of the important elements renters consider in their bookings are reviews. Good reviews will incentivize renters to select your Airbnb property.
Make sure to offer to your guests the best experience and they will automatically write you good Airbnb reviews. And the more positive reviews you have, the more bookings you will land. Beware that one bad review might put your Airbnb property at jeopardy because reviews cannot be deleted or modified. Do not forget to remind your guests to write reviews for you at the end of their stay.
As part of the Superhost package, Exelair, we can help you achieve those coveted 5* reviews.
Airbnb Tips for 2019 #5: Maintain a Clean Property
Maintaining a clean property is an important factor to consider in order to increase your clientele. When your property is clean, guests are happy. When guests are happy, they are more likely to come back again to your rental. Moreover, they are more keen to provide positive reviews and, again, the more positive reviews your property gets, the more guests would want to book your property.
Make sure your house is clean before guests check in, and be wary of all the small details. We are aware that maintaining a clean property might be tedious, but fortunately, you can rely on our team at Exelair to take care of all that as part of our Co-host and Super-host packages.
Airbnb Tips for 2019 #6: Use Instant Book
In order to succeed in renting out on Airbnb, consider the various features that Airbnb provides. One of these great features is Instant Book. Instant Book allows guests to rent right away without having to wait for approval from Airbnb hosts. Instead, renters select their travel dates and would only have to discuss check-in protocols with the host.
Make sure to enable Instant Book for your listings to achieve a higher occupancy rate and succeed magnificently in your Airbnb renting experience in 2019 and beyond. This feature not only facilitates bookings, but it also allows renters to confirm reservations for no additional fees. If you feel uncomfortable with the Instant Booking, you may cancel it. Please refer to Airbnb’s Terms and Conditions for further information on how to use Instant Book as a host.
Airbnb Tips for 2019 #7: Make Offers
In order to succeed in your Airbnb investment in 2019, we recommend that you make offers often. When the season is low for Airbnb, try offering discounts. Offer a discount on your rate for a short period of time or include a bonus for staying for a certain number of days in your property. Assess Airbnb trends within your location and learn of the seasons where Airbnb is not the most lucrative, or Airbnb occupancy rates are the lowest. Do not offer discounts in high seasons because you will already have plenty of guests who would want to stay in an accommodation!