Short-term rentals are a good investment for hosts. Some of the benefits include:
Short-term rental property investors make a lot more than other rental property investors. Airbnb hosts can adjust their prices depending on the season. Prices usually skyrocket during peak tourist seasons in specific tourist attraction areas.
Another advantage of short-term rentals is that as a host, you can adjust your schedule anytime to suit your needs. You can choose dates to block hosting and use that time for maintenance or take some time off. It also makes it easy for guests to book, unlike in traditional systems like Resorts or Hotels.
While short-term rental properties can be a good investment, a lot is required to have a successful business. Effective management is key. Between receiving guests each time, you have to ensure that you clean your property, and make it guest-friendly by providing clean items such as bedding. You also have to maintain active communication with your guests to ensure that they are provided with everything they need. The goal is to get a good rating from every guest and as many positive reviews to fuel your business.
A compelling listing is very important for short-term rentals since your target audience is mostly online. Here is how you can do that;
Other than compelling listing and effective management, good quality photos are as important for short-term rentals. Your potential clients depend on what they see to decide whether they are going to book your property or not. So you can imagine what bad-quality photos can do to your business. Ensure you use the best possible lighting to showcase your property.
As discussed above your target audience is people who probably have never been to that particular area or even country. They wouldn’t know what your property looks like and where it's located unless you show them and give a good description. Present yourself as a professional and serious host. Describe your property, its amenities, local tourist attractions, and your hospitality.
Even with high-quality photos, words are equally important. Using the right keywords will point your target audience in your direction and increase your chances of getting bookings.
Clear communication in the short-term rental business is mandatory or else you will go out of business. Here is why:
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You should consider using online platforms designed for short-term rentals. These platforms make it easy for clients to send inquiries, book reservations, and get confirmation messages, all in one. This makes it easy to handle all clients because it is organized and also adds professionalism to your business.
Ensure to provide alternative means of communication to your guests or potential guests in case they can’t find you. You could use phone, email, or even messaging apps such as WhatsApp. This shows that you are serious about your clients,
Cleanliness is key to any successful rental business. Dirty properties in the short-term rental business world will harm your business for sure.
On top of a clean environment, providing toiletries, clean towels, and linens will charm your guests further. Providing toiletries, clean towels, and extra bedding is a good gesture.
There is more that you can do to show your guests that you care for them. For example, a welcome note, snacks or fruits, etc.
Most guests are most likely new to the area and would rely on their hosts for information. You can create a recommendations list on the places they can visit or experiences they should look out for. This shows that you’re also interested in their welfare and not just your business and you’re likely to get repeat bookings.
Create a smooth check-in and check-out process that allows your guests to move in and leave by themselves for efficiency. You can use smart lock doors that use apps or codes to unlock. You could also appear in person to receive them yourself or have the property manager do so. Include Check-out instructions such as telling your guests to throw trash away, placing the dirty laundry in a bin, and how to lock up doors after their stay is over.
Having a smooth check-in and check-out process saves time for you as a host and for the guest too. Clear instructions to your guests on how to access or leave the property offer a sense of security and reduce the chances of theft.
Make sure you can keep up with cleanliness and proper sanitation. you need a system that won’t fail you. You can employ someone to be in charge of housekeeping or use a cleaning company that you can trust to clean your couches, carpets, curtains, etc.
Also, have regular maintenance checks such as drainage, blockage, or electricity socket checks to ensure everything is smooth for your guests.
Short-term rentals can be difficult to manage, especially if you have a lot of them. You have to keep up with every inquiry, every guest and their needs, and also very many guests especially in peak season. This can be tedious and draining for one individual. That is why it is recommended to use property management agencies. You can use regular property agents or join short-term rental management companies such as Airbnb as a host. They will help you manage your property with expertise and provide quality services on your behalf. However, compare the cost of such a service against your profits to see if it makes sense for your business.
Pay attention to both positive and negative feedback. Appreciate the good reviews and have the guests who had a negative experience that you have noted the issue and you are working to resolve it immediately.
A: The right price for your property should be competitive. However, it is important to consider your investment, the season, and also the location of the property.
A: Legal requirements for operation vary from place to place. Research on what are the local requirements to operate such a business in your country or state.
A: You can market through advertising or by partnering with travel companies for them to recommend your property to tourists.
Book a demo with us to learn how Bomahut can help you improve rent collection and save time on property management tasks.
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