10 Tips for Running a Successful Airbnb Property

  • 18th May'22
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Airbnb was launched in the market when finding a place to stay was inexpensive, especially in a new place or city. Several start-ups have taken the Airbnb business model to another level. It allows staying overnight just like a homestay or overnight accommodation. With these, they provide the facility to find rental homes for regular stay and PGs in a new city. You should also know about revolutionizing hospitality experience with touchless technology, for creating innovation and creativity in your business.

So if you also have the plan to run a successful Airbnb Property, then the article is for you!

 

Travel Airbnb

 

Running a Successful Airbnb Property

Airbnb has achieved unparalleled growth in the past few decades. The option for anyone to list an extra room on Airbnb has contributed to the company's success. So if you are thinking about renting your house, apartment, residence and extra room or any other property on Airbnb, then here some prime tips for running a successful Airbnb property are described as under:

1. Set Economical Rental Rates

The prime reason for booking the Airbnb property is that it is more cost-effective than staying in a hotel. If you price reasonably then it can increase the likelihood of guests posting a good review. Besides this, the hosts can use Airdna, a website that is designed to give ideas on how you can earn more money. If your property has some distinct features then you can charge a premium only. You should discount the property on occasion, as it will give your business enterprise more ratings.

2. Great First Impression

Friendliness is the most significant feature for Airbnb hosts. You should put yourself in the shoes of the guest and then treat them. This can provide you with an idea of how to deal with guests. It is good to reply to the guests quickly and pleasantly, as it creates connection and better rapport. 

You can do some innovative and delightful activities at the time of the first arrival of the guest. You can provide a basket of flowers, gift baskets, welcome notes and other thoughtful expressions so that your guest can remember that. This will create an immense impact in the minds of the guests and they will choose you over someone else. 

3. Respond Immediately

Responding immediately and quickly is the essential aspect to have the best experience. In the hospitality industry, it is essential to revert all the guests at once and with pleasure. It helps in attracting them to your services. It includes responding to the queries too. It is a simple trick, the faster you respond the faster you get the chance to win over them. 

As it has happened with me also, I was searching for a few properties for rent and due to the late revert back of the owners, I had to choose another property. Thus a timely and efficient response gives pleasant confidence about the rental experience. 

Thus to resolve every query of the guests, is the most significant tip or suggestion that can help you in running the Airbnb business successfully.

 

Travel Airbnb

 

4. Be Committed

Renting out an Airbnb requires a commitment if you want to be successful. You should always be prepared to devote some portion of each day to the task. There is an advantage with traditional hotels, that it requires one single interaction to book a hotel room. On the other hand, getting a place on Airbnb requires multiple interactions with the host. So you should be prepared to reduce the waiting time of guests and need to pay constant attention to notifications and be ready to respond to any commitment given by you. 

5. Have Great Photos

A picture indeed speaks thousands of words, rentals can have a look at your staying property, which can be based upon your pictures and words. The more pictures they will see the more comfortable and quicker decisions they will take. Tell me, would you buy an outdated car after seeing the negative impression of the inside and outside of the vehicle? Not exactly, Right? 

So in the commercial era, there is a great role for photos. So here what you have to do is click some adorable pictures of the inside and outside of your rental property like the pool, beach, a mountain view, lake or golf course. Thus the time and expense that you spend or invest in this process are well worth it. Take photographs, and capture the place, surrounding area and any other amenities. 

Recommended: 22 Best Travel Accessories of 2022: Save Time and Money

6. Knowing the Local Laws of Airbnb

As far as laws of renting out property on Airbnb are concerned, these vary from place to place. San Francisco, Portland and Paris have different Airbnb laws that force the hosts to pay the occupancy tax. In New York, it is illegal to rent a property for under 30 days under the multiple dwelling law if the primary resident is not present. Thus you have to be aware of the laws of your city or place. 

7. Cleaning Service

You need to maintain a clean and sanitary rental. Cleaning the property yourself rather than paying any outsider for cleaning it, can cut your costs. With this, some Airbnb hosts say that they hire outsiders to clean the rentals and then charge the amount to the guests. Well everyone has a different business idea but you should focus on cutting the cost as much as possible. 

8. A LockBox

If your guests arrive late or have travel difficulties, then the most impactful solution is to consider installing a smart lock. By opting for this mechanism the guests will not have to hang around late in the evening to give the keys to guests. As the guests can check themselves into their Airbnb residence. 

 

Travel Airbnb

 

9. Keep an Accurate and Complete List

You have to be sure about the listing details and keep those up to date. The proper listing provides you with the facility to have contact information up to date. Be sure that your listing details have all the essential information about your property and its amenities. This would help you with repeat customers and keep you out of trouble with rental regulations and contracts.

10. Individualize the Experience

Here you have to think about the experience that you can create for the guests. A successful host can imagine himself in the place of guests. You can list and highlight the features of the location, nearby activities and types of experiences that guests could have to gain more attention than those who simply put the details. 

Thus these are some tips that can help you in running a successful Airbnb Property. Besides this, you should also know about mistakes people make when booking summer travel, as it will provide a travel idea to you.

 

Conclusion

Airbnb has accelerated the growth of the hospitality industry and shows no signs of slowing down. Those who want to take advantage of these amazing opportunities would be wise to do so. They can put more attention and focus on their rental or Airbnb business. 

If you have a worth living property and a business idea for the Airbnb app then you can go ahead to monetize it. It has a highly profitable and enriching scope for your business.

 

We at OpenGrowth, are committed to keeping you updated with the best content on the latest trendy topics from any major field. Also, both your feedback and suggestions are valuable to us. Do share them in the comment section below.

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Roshni Khatri, OpenGrowth Content Team

A keen observer, who loves to spend time with nature. A fun loving person, enjoys to explore the new aspects of life. Passionate about reading and learning new things. Roshni is dedicated towards her work and has worked in different professions.


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