Maybe you started your Airbnb business because you travel a lot and didn’t want your home to sit empty. Maybe you wanted to make some extra cash and saw the potential in the platform. Or, maybe you’re using the sharing economy to foster your very own small business. Whatever the reason you chose to start hosting on Airbnb, we’re sure that you did it with at least a small desire to make some money. Now that your account is all set up and you’ve had a few guests, it’s time to make some changes that will set you up for success and increase your income. With a few tweaks, you’ll be surprised how well you can do!
Tips to increase your Airbnb rental income:
Up your occupancy
One of the most cost effective ways to increase your Airbnb rental income is to increase the number of people your space sleeps. By adding a sleeper sofa or turning an unused junk room into an extra bedroom, you can advertise a higher occupancy rate which will allow you to increase your prices significantly.
Make changes with profits in mind
Remember that increasing your Airbnb rental income doesn’t matter if you’re not also increasing your profit. Making improvements to your property that cost more money than they make won’t do any good. Make your home better, but do so with your return on investment (ROI) in mind.
Pro tip: Want to go all out and offer a luxury vacation experience to your guests? Learn more in our luxury vacation rental article.
Cater to business travelers
Business travelers are a fantastic group to have as guests. They’re usually polite, clean, and travel during the week. Cater to their needs, and you can increase your profit quite a bit. Learn more about how to appeal to business travelers.
One of the easiest ways to increase your Airbnb rental income is with Hosty. Our professional vacation management software helps you manage multiple Airbnb accounts and stay on top of your daily tasks and keep organized in ways you never thought possible. Try us out, today!
Making huge strides in your Airbnb business can be easily achieved. All it takes is a little diligence, hard work, and an eye for detail. Follow our tips, and before you know it, you’ll have increased your Airbnb rental income (and hopefully your profits) significantly.