It might seem like everyone and their mother are now Airbnb hosts. And with over 7 million listings and nearly 3 million hosts all over the world, that probably is the case! Many people are realizing that being a full-time vacation rental owner can be extremely profitable but they also might feel like they could get more results.
Fortunately, it is possible to significantly improve your Airbnb income, but it will take a lot of hard work, creativity, and sacrifice. If you are not willing to invest time, money, and hard work, it’s unlikely your Airbnb revenue will grow.
If you’re eager to grow your business but you don’t know what steps to take, you’ve come to the right place! Check out these 13 ideas to boost your Airbnb earnings and take your vacation rental to the next level.
Even simple touch-ups – like a fresh coat of paint or better amenities – can make your place more appealing to guests. Bigger changes such as new floors and improved disabled access can transform your guest experience and lead to much happier clients.
Offer experiences in your city
Hosts can create unique experiences based on their passions or interests. For example, introducing out of town foodies to your town’s restaurant scene. Successful experience hosts can generate more great reviews and of course, more cash!
Accommodate more people in your listing
You could add a functional sleeper sofa in your living room and easily have space for two more people. This would allow you to increase the price per night significantly.
Make sure that you have an adequate source of financing
There are tools, such as Payfully, which allow you to cash out your future Airbnb bookings whenever you want – meaning you don’t need to wait for your guest to check-in to get paid. Payfully enables you to get the cash to invest in your property and to deal with any unexpected expenses.
Become a co-host and help others managing their listings
This will require more time and extra effort, but it’s definitely worth it! All co-hosts receive a commission, so it’s a nifty source of extra income.
List all year round
Many hosts make the mistake of only listing their properties at certain times of the year. Try to keep your units listed all the time for the best chance at full occupancy, even when it’s the low season.
Make your listings kid and pet-friendly
Many people like to travel with the whole family – children and pets included. Making it easy for them to find suitable properties from the outset can lead to winning you more bookings – and more revenue as a result.
It’s also important to note that many vacation rentals are not kid-friendly. By going the extra mile and ensuring that the little ones are just as satisfied as their parents, you’ll score some extra points and increase the likelihood of returning guests.
Use a professional Airbnb cleaning service
Guests will always prefer a place that is adequately and professionally cleaned. Even one negative review saying cleaning wasn’t up to scratch can damage future bookings. Hiring a professional cleaner will make sure no spots are missed, and your ratings stay top!
Business travel is one of the fastest-growing segments on Airbnb, and it’s great because it’s year-round – not affected by the seasonality of your location. Taking a few steps to attract workationers, such as adding high-speed internet, can quickly increase your number of bookings.
Learn more about Airbnb
Knowledge is power and everyone knows it! Taking the time to learn more about Airbnb and the vacation rental industry will help you increase your revenue significantly. Take some time out of your chaotic day and read guides to truly understand how to run your Airbnb business.
Optimize your listing
If you’re not familiar with SEO (search engine optimization), then you’re missing out on a lot of potential bookings. Optimizing your Airbnb listings with the right keywords and phrases can boost your ranking on Google and make it much easier for guests to find your property.
An easy way to generate more income is to start upselling services such as luggage storage or special activities. Teaming up with businesses nearby will not only help the local economy but will also lead to a much higher average daily rate for your vacation rental.
An Airbnb vacation rental property management software like Lodgify is one of the easiest ways to increase your income. Not only will you have access to a channel manager that syncs your calendars, bookings, and rates from different online travel agencies onto one centralized dashboard, but you’ll also get to use a variety of different tools for automation and task management. Save time, provide the best customer service, and earn a lot more!
Increasing your Airbnb income is far from impossible, but it will take time and a few adjustments. The hosts who make the most money are those with the patience and persistence to succeed, and those who devote as much energy to their business as possible.
About the Author
Payfully is a platform that allows hosts to get paid faster. Payfully offers hosts the possibility to get paid in advance, instead of waiting for the guest to check-in. Users will then invest these funds back into their properties in order to achieve better reviews, more bookings and of course, higher income!
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