With recent research revealing that hosts in Australia are second only to the USA when it comes to earnings – with an average monthly income of around $3000 – savvy entrepreneurs are realising the potential income gains to be made by listing their properties on Airbnb.
There are several things to consider before starting an Airbnb business. Not only do you need to make sure your property is guest-ready, but you should also be aware of how much time and effort you have to spare, whether you want the business to be a side-hustle or a full-time venture and which Airbnb management company to partner with.
Whether you have a property portfolio or are just starting out on your Airbnb hosting journey, here’s how you can build your Airbnb business in 2022.
Get the basics right
You could have the perfect rental property, but if your Airbnb listing is poor, you’ll struggle to get any bookings. The most successful Airbnb listings contain the details potential customers want to know: accurate descriptions about the property, what facilities are available for guests and information about local amenities. High-quality images are vital so make sure photos are clear, well-lit and show each area well. Don’t price yourself out of the market, but equally, don’t undersell yourself either. Spend some time researching similar properties to make sure your offering is competitive. Finally, improve your host rating through positive reviews.
A good host rating will improve your search ranking, so don’t be afraid to reach out to guests and ask them to leave you a review to help build your rating more quickly.
Utilise technology
Today’s travellers are tech-savvy, remote working, and looking for the latest innovations to enhance their Airbnb experience. Fortunately, there is a range of smart devices to incorporate into your Airbnb business to benefit both you and your guests.
Keypad locks remove the need for physical keys altogether, or smart lockboxes can be used to enable remote check-ins, meaning you won’t need to be on-site each time a new guest comes to stay. If a physical set of keys is necessary, a trackable smart tag can be attached to the fob, giving you peace of mind against lost keys. Inside the property, items like smart thermostats and lightbulbs can be installed and remotely controlled, helping you monitor usage and keep the bills down. Extras like streaming services, smart TVs or digital assistants are a relatively inexpensive way to provide your guests with home comforts that might just give you the edge.
Make the most of professional partners
The downside to being an Airbnb host is the amount of time and energy it can take up, particularly when it comes to sourcing guests, dealing with queries and changeover between bookings. Fortunately, there are a whole range of professional services and Airbnb management companies out there that you can partner with. These companies have the expertise to manage the complete hosting process for you and can deal with any questions, disputes or damages that may arise, and work with you to ensure you’re targeting the right guests, have the right pricing and are providing the best service for your guests. It gives you the freedom and reassurance to be as hands-on or hands-off as you wish, giving you more time, money and freedom to spend as you choose.
If you want to maximise income from your property in 2022, Airbnb hosting is a great way to do it. However, further investment into your Airbnb business is vital if you want to make it a real success. Making sure you have strong listings, are using the technology available and partnering with professional Airbnb management companies will enable you to maintain a steady flow of income and cost you less time, effort and stress while making sure your guests have the best service.
