1st Airbnb in Tampa Bay area

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1st Airbnb in Tampa Bay area

Member since 2023 · 41 posts · 17 votes

I just listed my old primary residence on airbnb. Instead of moving all my furnishings to my new place, I figured I would leave them all in place and rent on airbnb. My ultimate goal is to have airbnb across the country. So I figured why not start now. It's a 2/1 SFH in a quiet neighborhood in Largo FL. I'm 10 mins from the beaches, and 15-20 to all other attractions. I'm currently booked from June until mid July. I dont have any booking from July-December. Any advice on what I could do to increase my occupancy rate? I have it listed at $100/n. I would like to be in the $1800-$3000/m range. Also, does airbnb have a slow season? Thanks for all the help

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Sarah KensingerPro Member

Real Estate Consultant · OH · Member since 2023 · 2k+ posts · 1k+ votes

I'm repeating hearing that bookings are "last minute" this year. No more then 6-8 weeks out, so good chance you'll have more late summer bookings. But make sure you have chosen you niche, and the property is tailored to that group of people you're marketing too. I would be cautious to lower the nightly rate because bookings aren't coming it. That can be a quick way to price yourself right out of business! You want to be competitive to other properties that have similar amenities as you and not the lowest guy on the block. Instead see what you can do to give your property an edge...extra interior design or an amenity that other STR in your area don't offer. Also reevaluate your cancellation policy or if you have a minimum nightly stay, making a few tweaks to those can help as well.

[email protected]330-557-3021

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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
3y
Airbnb doesn't have slow season but specific markets do usually have slow times. This is usually market or even property specific.
If your not getting bookings there are things you can do.
Lower your price, this will also help you get more reviews.
Professional pictures, better description, add amenities etc.
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Andrew SteffensBusiness Member
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
3y
@Matt Smith
Hey Matt we manage about 80 in the area and at least a dozen in largo. You will be busiest Feb-Aug and depending on finishes and amenities should average $150-250 in those times. Probably $100-140 or so in off peak. Holidays would get peak price. Shoot me a message if you have any other questions about the area!
[email protected]813-563-0877
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Matt Smith
OP
Member since 2023 · 41 posts · 17 votes
3y
Quote from @John Underwood:

Airbnb doesn't have slow season but specific markets do usually have slow times. This is usually market or even property specific.
If your not getting bookings there are things you can do.
Lower your price, this will also help you get more reviews.
Professional pictures, better description, add amenities etc.
I dont have any reviews yet. I'm hoping that will increase bookings as well
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Maurice W. Evans
Property Manager · Queens, NYC · Member since 2016 · 110 posts · 58 votes
3y
Monitor pricing. Find a niche (families, pet owners, themed or unique unit). Slow season is the season you are not marketing. Don't rely solely on airbnb, use other OTAs and do your own promotion as well. Airbnb across the country, keep in mind every city has rules (that change over time) in regards to STR, make sure you understand them before you get into a market, especially if you do not live there.

which attractions are you referring to that are only 15-20 minutes from largo, tho?
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Sarah KensingerPro Member
Real Estate Consultant · OH · Member since 2023 · 2k+ posts · 1k+ votes
3y
I'm repeating hearing that bookings are "last minute" this year. No more then 6-8 weeks out, so good chance you'll have more late summer bookings. But make sure you have chosen you niche, and the property is tailored to that group of people you're marketing too. I would be cautious to lower the nightly rate because bookings aren't coming it. That can be a quick way to price yourself right out of business! You want to be competitive to other properties that have similar amenities as you and not the lowest guy on the block. Instead see what you can do to give your property an edge...extra interior design or an amenity that other STR in your area don't offer. Also reevaluate your cancellation policy or if you have a minimum nightly stay, making a few tweaks to those can help as well.
[email protected]330-557-3021
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Michael BaumPro Member
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
3y
Hey @Matt Smith, lots of good advice here. I will say that the first year is on the thin side. You are just getting going with no reviews so it will take some time to build up the rep and it will help drive more bookings.
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Matt Smith
OP
Member since 2023 · 41 posts · 17 votes
3y
Quote from @Michael Baum:

Hey @Matt Smith, lots of good advice here. I will say that the first year is on the thin side. You are just getting going with no reviews so it will take some time to build up the rep and it will help drive more bookings.

So you would suggest I be patient and see what happens this first year? I am cashflowing, but I could prob get a consistent 2k/m if I did it as a LTR. I want to do airbnb for more reasons then one, which is why I have it listed there instead of as a LTR

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Michael BaumPro Member
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
3y
Well @Matt Smith, in most areas, you are going to be on the lean side the first year. We were and others I know were also lean. Some areas start like gangbusters because of the location. Others will take time.

Occupancy overall in the Largo area is about 64%. So at $100 a night is just about what you are expecting it to rent for as a LTR.

Making it a LTR seems like the way to go. Steady income, less work etc.

I would take a hard look at what @Andrew Steffens said. He is in that area and knows the deets.
Plus, post the listing so we can get a look at it.

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Matt Smith
OP
Member since 2023 · 41 posts · 17 votes
3y
Quote from @Michael Baum:

Well @Matt Smith, in most areas, you are going to be on the lean side the first year. We were and others I know were also lean. Some areas start like gangbusters because of the location. Others will take time.

Occupancy overall in the Largo area is about 64%. So at $100 a night is just about what you are expecting it to rent for as a LTR.

Making it a LTR seems like the way to go. Steady income, less work etc.

I would take a hard look at what @Andrew Steffens said. He is in that area and knows the deets.
Plus, post the listing so we can get a look at it.

Quaint Largo Home-King’s castle - Houses for Rent in Largo, Florida, United States - Airbnb
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Michael BaumPro Member
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
3y
Hey @Matt Smith, ok, so what's with the photos? Is that when you lived there? Is the TV box still there? Are all the small appliances sitting out? What about the guitars? Fridge magnets? The stand fan? Is that a tetanus post in the back yard?
Close the shower curtain. Get rid of the post. Get rid of all extra stuff and put it away. More art in the bedrooms. Etc. Take new photos.
The pics are pretty rough. Did you take them yourself? It's not that the photos themselves are terrible, just there is too much clutter and it looks partially done.
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Matt Smith
OP
Member since 2023 · 41 posts · 17 votes
3y
Quote from @Michael Baum:

Hey @Matt Smith, ok, so what's with the photos? Is that when you lived there? Is the TV box still there? Are all the small appliances sitting out? What about the guitars? Fridge magnets? The stand fan? Is that a tetanus post in the back yard?
Close the shower curtain. Get rid of the post. Get rid of all extra stuff and put it away. More art in the bedrooms. Etc. Take new photos.
The pics are pretty rough. Did you take them yourself? It's not that the photos themselves are terrible, just there is too much clutter and it looks partially done.

Its as I lived in the house haha. And yes I took em myself
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Joseph Stern
Investor · Tampa, FL · Member since 2020 · 287 posts · 152 votes
3y
@Matt Smith airbnb is a game of filters so you want to check off as many of their filters as possible. For example, superhost, hot water, parking, pets etc. this will give you the best shot to get the most bookings. In FL it seems October-April is the prime season and the other part of the year is slower but I still get booked just at a lower rate. Get some professional photos taken of your listing as well.
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Sarah KensingerPro Member
Real Estate Consultant · OH · Member since 2023 · 2k+ posts · 1k+ votes
3y
Quote from @Matt Smith:

Quote from @Michael Baum:

Well @Matt Smith, in most areas, you are going to be on the lean side the first year. We were and others I know were also lean. Some areas start like gangbusters because of the location. Others will take time.

Occupancy overall in the Largo area is about 64%. So at $100 a night is just about what you are expecting it to rent for as a LTR.

Making it a LTR seems like the way to go. Steady income, less work etc.

I would take a hard look at what @Andrew Steffens said. He is in that area and knows the deets.

Plus, post the listing so we can get a look at it.

Quaint Largo Home-King’s castle - Houses for Rent in Largo, Florida, United States - Airbnb

I was curious to see your listing the first time I posted on this thread...thanks for sharing the link!

Did you already change up the photos? The listing didn't look as bad as I expected, although I would second getting professional photos taken. I loved how you pulled out some of the kitchen items and took a photo of what is there for guests use. For someone who cooks a lot when we travel, it's so helpful to know before I book a property what is available in the kitchen!
I would definitely suggest adding an extra edge to the home design. Wallpaper some walls, add neon signs, add some fun-colored throws and pillows, make an "Instagramable" space, and add some fun amenities to the backyard. These are the things that catch people attention, draw them into the listing and make them what to stay there.

If you seriously want to have STR across the country this is a good taste in what to expect as a host. If you already thinking LTR is a better option for a part of FL that has a high STR occupancy rate, you might want to decide if this is a business for you. There are so many resources out there and many successful people that are willing to mentor/teach on how to run a STR business. If it's something you're interested in find a mentor/coach that fits the business model for you and soak up everything they are willing to teach. You'll be just as successful if that is what you want and work towards!

[email protected]330-557-3021
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