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Tips on how to make your home an attractive Airbnb rental

by emily

in Variety

Are you thinking about renting your home out? Well, Airbnb can be an extremely profitable business venture when you know what you’re doing. If you have never rented out your home, there are a few things to consider before you take the plunge. One of the most important is to make your home look as visually appealing as possible if you want to attract the masses and make money off of your home.

In the beginning, it might sound or feel strange. Knowing that you’re advertising your home for guests to stay in and enjoy is a risk but you will need to be willing to take it if you want to make some big bucks.

With so many options already out there, you need to try to make your home stand out. This requires a well-thought-out strategy. Here are a few tips to help you get started:

  • Learn more about Airbnb and their policies

Before you go ahead with a “business strategy”, make sure you have a clear understanding of what Airbnb is about, what the legalities are and how the payment process works. As it stands, it costs nothing to list your home on the site. However, the company collects three percent of the host service fee per reservation. Once a guest has booked their dates, they will pay before they can access your home. And after their stay, the guest will rate their experience at your home, as well as yourself. There are many variables that you will rate your guests on, and this will determine if you will allow them back.

  • Establish your customer base or target audience

If you own a beach house, for example, you are bound to have more tourists visiting your home than locals who can afford a quick night or weekend away. The type of people who visit your home will also help you determine your rates, as well as the neighbourhood around you, of course. You want to keep your rates competitive because you want people to choose your home over the equally beautiful home down the road from yours. But, in order to do so, you need to attract the right target audience and dress up your home to meet these customers’ expectations. In your business plan, you will need to include these variables. Look at the public transport options available, the restaurants around you and any local attractions. Tourists are likely to spend their time in an area which allows transport in and out of the neighbourhood without having to make too much of an effort to find their way around the city. If the restaurants are pricey, it will also determine the people who will be visiting this area.

All of these factors will play a role in how much you are able to charge your guests. If you are new to the Airbnb experience and are unsure of what to charge, a good rule of thumb would be to start off lower than your expected rate in months to come. You need to start familiarising yourself with the experience and having people choose your home. Once you are comfortable with how the visit works, up your fees.

  • Always be honest and upfront with guests

Advertise your home in such a way that you would want to view it online. Do not change the images in Photoshop or speak about facilities that you do not have. Of course, you need to go the extra mile and photograph your home with a high resolution camera, but always be honest and upfront with your information. Advertise according to the area’s price, even if something doesn’t work or look as attractive as you’d hoped for it to be. You never know who might be looking for an affordable stay in your area.

Another important tip is to consider making a minimum night stay. For bigger homes, the minimum stay is for two to three nights. It usually increases over the busier seasons such as summer and the festive season. This way, you can have a more lucrative return on investment when hiring out your home.

Lastly, spruce up your home. As much as you want to advertise your home as it is and hope for the best, you need to make your space look inviting to others online. Some of the most frequently searched for features are pools, WiFi, pet-friendly homes, free parking and outdoor areas. Set up a budget and go according to what you are financially able to spend on your home to improve the look and feel. Focus on the details, such as the sheet sets. A white sheet on a bed is always welcoming and clean. Look at investing in an expensive set of winter sheets for the colder months and lighter ones for the summer. Also, try to incorporate the basic amenities into the rooms such as toilet paper, soap, a coffee machine, a fully equipped kitchen and more. The money you spend, you will make back with bookings.

Final words

As you can see, there is plenty of potential in hosting your home on the Airbnb site. If you spruce up your home and decorate it according to your target market, you’ll be able to make some money on your home.

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