The Airbnb rental platform has allowed anyone and everyone who owns a property to benefit from short term property returns. While this is great for the economy (and for the holiday rental market in general), it does not mean that every property will be an automatic success.
There are many factors to consider when renting out property to holidaymakers and corporate travellers. From the property area you select to how well your property is prepared for guests, it is usually the smart property owners that benefit the most from short term rentals the most.
Essential Airbnb Rental Lessons
While we can’t promise that your property will become an instant hit, the following lessons may help you improve your chances as an Airbnb rental host…
1/ Short term lets are more about hospitality than real estate.
Sure, you are renting out your property. But short term and long term rentals are two very different things, and while the latter focuses on real estate, the former focuses on hospitality. You are essentially providing guests with a comfortable, appealing, inviting place to stay. Just as you would have a certain level of expectation when staying at a hotel or guest house, your guests expect your property to meet certain requirements. In addition to ensuring that the property is clean, well-furnished and free of problems, you can help to boost occupancy by providing extra details that enhance your guests’ stay. A bottle of bubbly, a welcome pack, concierge services, a stocked fridge… all of these help to further sell the experience as well as the actual room, apartment or villa.
2/ A well-managed property will always out-perform a poorly managed one.
On a similar note, it can be extremely valuable to consider partnering with a professional short term rental property manager. An experienced expert in the management of this type of property will know exactly how you can prepare your place for guests, while also giving you all the advice you need on how to get started. A good manager will also provide marketing and promotional services as well as guest services such as concierge. This means that your guests will be happier throughout their stay, and in turn, your property will be booked out consistently.
3/ Customer service is everything.
Do not ever under-estimate the power of customer service. It is dangerous to assume that guests will settle for whatever they get and that your only job is to provide them with lodging. How you interact with guests can make all the difference between a once-off (unhappy) guest and a repeat (thrilled) guest. Hiring a property manager is one way to ensure that your guests always receive the best possible care, from the moment of enquiry all the way to final check-out. You can also keep guests happy by being proactive and dealing with any and all queries promptly.
4/ Be clear on expectations right from the get-go.
What you promise had better be what you deliver… or you may end up having to deal with irate guests. Be fully clear of what your property offers so that your listing is clear, comprehensive and accurate. Decide well in advance what guests will need for a pleasant stay – hairdryers, bedding, towels, self-catering equipment, washer and dryer, towel hooks, iron and irony board, plug points for international appliances, and anything else you would expect to find at a good hotel. That does not mean you have to be unrealistic, but it does mean that you need to at least be able to provide a standard hotel experience.
5/ Invest in professional housecleaning services.
Even if you opt to try and go it alone instead of using a property manager, it is vital to invest in a reliable, professional housecleaning service that will ensure that your property stays in peak condition at all times. Even the most stylish, perfectly positioned property will quickly be left empty for months on end if you consistently have reviews about mess and disorder. Just as guests expect a certain level when it comes to facilities and equipment, they also expect to find a clean, organised home away from home.
The move into the short term rentals game is one you will likely find rewarding. Your results will be greatly effected by how well your property is managed however, which is why hiring a dedicated property manager is one of the best things that you could ever do to improve your Airbnb rental success.