Despite its permanence in society, the internet and all of the weird, wonderful parts of it are still very, very new. Think about it, 15 years ago, AOL, Hotmail, and AskJeeves.com were still widely used, and Facebook was just becoming the online juggernaut it is today. Because we’re still in the “wild, wild west” of the internet, things change quickly, and some of the rules aren’t quite set in stone yet.
This is true not only for social media sites and search engines but for virtually all online businesses as well. Airbnb has revolutionized the sharing economy and created a lucrative income stream for homeowners and driven entrepreneurs. The cutting edge nature of the business model has made it a fantastic industry to become part of, but if you’re looking for a rulebook to help you learn how to play the game, it’s still in the works.
Basically, what we’re saying is that the secret sauce for success in Airbnb is constantly changing. As the online sharing economy is new, it’s not yet an industry with cold hard facts or infallible. However, the platform has been around long enough for users to glean some ways that can help them to be winning Airbnb host.
So how do you become one of the most successful Airbnb Hosts?
At Hosty, we know the Airbnb community well. Because we want our hosts to stay ahead of the crowd, we’ve done some excellent research and found the ways how to be the best in the business. We’ve analyzed the patterns of some of the most successful Airbnb hosts to find the things that contribute to their fantastic results. We hope that these tips will help you as well.
Now, as we mentioned, everything is changing, but we do know what the most successful Airbnb hosts have in common. Let’s learn from what makes them most successful and dive into Airbnb Strategy 101.
More rooms= More money
Obviously, if a host lists their entire home or more than one property on Airbnb, they’ll make more money, but that’s not what we’re getting at here. If an Airbnb host has multiple listings or is renting out an entire home, their listings will be more attractive than those of host that can offer less. Renting out an entire home or having multiple listings signals to a guest that the owner is professional, successful, and is running a legitimate business. All of these scream “safety” to the potential guest which is incredibly important as most people aren’t yet accustomed to using Airbnb or similar sharing sites.
Location, Location, Location
Not surprisingly, having a home in a popular location is probably one of the best ways to become a successful Airbnb host. Either fortunately for you, if you live in downtown Los Angeles, or unfortunately for you, if you live in the middle-of-nowhere, the location of your property really matters. Some of the most profitable areas to start an Airbnb business are places that are warm, sunny, have a high number of tourists and have high property values. Now we know that not everyone can jet off to these places to start a business, but if you do happen to live somewhere warm and sunny, your success rate is looking pretty good.
A Little Polish Never Hurt
You probably know that going to an interview in your pajamas isn’t the best way to set yourself up for success. The same you can say for your Airbnb host profile. If you post poor quality pictures, don’t offer a lot of information, or aren’t transparent with the intricacies of your listing, you may as well post a “Don’t Book My Place” banner on your listing and go take a nap. Having a well-organized profile, sufficient information and some beautiful photos of your listing is the best way to show off your property. Taking some time to create a good profile is one of the best strategies that you can have to promote your Airbnb success.
Don’t Forget about Legality
Now that home sharing has become pretty ubiquitous in modern society; some cities are enacting and enforcing more stringent home sharing laws. This could make it harder for people like you to operate a successful Airbnb business. The main takeaway on this one is that you should simply be diligent. Know the laws in your city, be transparent and do what you can to keep eliminate complaints. Keeping both your guests and your city hall happy should be an important aspect of your business and will ultimately be the cornerstone of your success.
Now that you’re armed with tips on how to become the best Airbnb host you can utilize Hosty’s Airbnb property management software to make the process even easier. Organize your listings, quickly respond to messages and keep guests happy and well informed throughout the entire Airbnb process. Couple the tips above with the world-class service and support from Hosty, and you’re on your way to a success in your Airbnb Business.