Want to do more in the Airbnb business? Then it’s not enough to have the advantages of an ordinary landlord. You need to get rid of the disadvantages that are inherent in landlords. Read about the typical mistakes of entrepreneurs on Airbnb and effective ways to succeed in this article.
Types of Entrepreneurs Airbnb
- Entrepreneurs with an opportunistic approach to business. They tend to make a big profit in the high season. They don’t work full-time.
- A traditional homeowner. Usually rents an ode or two of the rooms in his house. Considers options with long-term contracts.
- Full-time entrepreneur on Airbnb. Aims to create better conditions for customers, and increase revenue. Carefully develops the tactics and strategy of the business.
Which option would you choose? Most prefer to work closely with Airbnb on a permanent and long-term basis.
Rental service should have first-class management. The level of service will affect customers’ reviews. Rent management is not limited to cleaning. The owner of the property should be in full confidence that all the necessary equipment is in order. Faulty furniture should be replaced with a new one. Real estate should be equipped at the level of the latest technological advances. Find out more by clicking here: https://www.hostyapp.com/
Effective business plan
The work of an entrepreneur working on a permanent basis in Airbnb has its own peculiarities. These are:
- Additional workload;
- Having a business plan from the start;
- Inclusion in the plan aims for the near future and long-term perspectives.
Clear business planning allows you to track the stages of progress and take interim measures to improve productivity. If you want to achieve good results with Airbnb, you should follow the plan exactly, making the necessary changes, depending on the circumstances.
You should also be prepared for force majeure. Following the plan, you should remember that you have to have spare options. If plan A does not meet the conditions, plans B, C, and even D should be prepared. Take away from the strategic plan elements that reduce your competitiveness. Don’t forget about bonuses and advertising!
Growth through expansion
To grow business income you need to increase the number of rentals. You can’t make great strides if you rent one or two rooms every year. The amount of your annual income will hardly change. If you start investing in expansion, you will get significant benefits. A large number of objects will bring you a good total income. More work on business organization will give you the opportunity to better explore the market and respond to changes.
Pay special attention to the location of the properties. Good infrastructure around automatically increases the number of bookings.
If you want to be successful in the Airbnb service, you should create special conditions for your guests so that they return to you in the following years. What’s more, they can attract additional tourists for you. You can improve the conditions for a more pleasant and interesting pastime of your guests, namely:
- Put a hot tub instead of a regular bath;
- At times, organize free breakfasts from local cuisine;
- Take care of organizing guides.
Tourists will appreciate your efforts, and it will bring additional income.
Modern information technologies render great support to entrepreneurs, providing significant savings of time, money and nerves. You can’t do without them if you’re going to work with Airbnb. Automation tools can be used to solve many decisions:
- Support for a pricing system;
- Increase in the number of bookings;
- Improving business profitability.
You can also automate the process of sending and receiving messages.
To maximize opportunities for Airbnb rental businessmen, Hosty software automates many other services, including reviews’ writing.
To have the maximum benefits from business activities, you need to strive to become an Airbnb Superhost. This status gives great advantages to the rental owner. These include:
- Highlighting among millions of ads;
- Getting a higher rating in the Airbnb search engine;
- The ability for customers to view your ads with the filter on;
- High probability of booking your property.
Status is easier to obtain than to save. Super-hosts who have managed to hold out in status for a year are awarded tourist coupons.
To get the Superhost’s orange badge, you should meet the following requirements:
- Give answers to 90% of requests within 24 hours;
- Get reviews from 50% of guests, of which 80% must be five-star;
- Make 10 trips during the year to the evaluation date;
- No cancellations without valid reasons.
To achieve such success, you need to show such qualities as honesty, benevolence, creativity as well as activity in business. Having received the status of Superhost, try not to lose it. It will always be your reliable assistant.
Let’s sum up the results of the correct organization of business activities on Airbnb. For successful business, it is necessary to plan with a choice of strategic direction.
High achievements cannot be possible without the use of automation. Hosty software is a sure help for entrepreneurs on the road to success. In vacation rental management, features such as Multi-Calendar, Unified Inbox, Task Management are indispensable.
Good luck at Airbnb!