It’s no secret that Airbnb is a great way to supplement your income, but how can you maximize your profits with weekly rentals? Continue reading to find out.
Find a Profitable Location
The most important thing to do is find a property in a profitable location. A good area for weekly rentals is near popular tourist attractions and good amenities, such as restaurants, malls, gyms, and shopping centers.
In addition to great tourist attractions, you need to be mindful of the local laws and regulations regarding short-term rental properties.
Make Sure Your Listing is as Attractive as Possible
Take photos at the right angles and with appropriate lighting. Make sure your listing titles are short and interesting. Your descriptions should also be intriguing. Your Airbnb listing should be attractive to guests to entice them to check out your property.
Use Dynamic Pricing
This means you need to consider what other properties around the area are rented out for on a week-by-week basis. You also need to consider seasonality and special events that might bring more people to the area. Optimize your rental rate based on booking trends.
Use Multiple Booking Platforms to List Your Property
While Airbnb is the most popular option, there are other booking platforms that you can add your listing to. These include HomeAway, Vrbo, Bookings.com, and others.
Hire a Professional Airbnb Cleaning Company
Guests are wary of the cleanliness and sanitation of weekly rentals. Your property must be adequately cleaned. Hiring an Airbnb management company to ensure your property is cleaned correctly and staged can help make sure that you’re maximizing your profits.
Add Amenities for Your Guests
Consider adding amenities to set your property apart from the other listings available. This means you should pay attention to the type of guests frequently visiting your property to understand better which amenities you should include. For instance, if you notice a lot of professional types frequenting your property, you might want to have a working station or office space to your property.
Offer Additional Services
You can earn additional income by offering other services for a fee. These services can include laundry, restaurant recommendations, pick up and drop off, cooked meals, guided tours, and more.
Provide Excellent Customer Service
The higher your reviews, the higher your ranking will be. To achieve this, it’s essential to provide the best customer service possible. This ultimately boils down to how you treat your guests and respond to their inquiries and requests.
Keeping up with all these tips might seem like a full-time job. For some simply looking for a passive income source, this seems like a lot of extra work. Thankfully, vacation rental companies can take care of all the work for you. At Majestic Vacation Management, we handle everything from location consulting and home staging to cleaning, landscaping, linen service, and security. We can take care of everything for your vacation rental property. Contact us for more information.