New to Real Estate · Grants Pass, OR · Member since 2020 · 13 posts · 6 votes
I am posting this question for someone else, but would also love to hear some feedback on those experienced with running Airbnb properties. What are some of your tips and suggestions for running a successful Airbnb and what would you suggest NOT doing etc!
Gosh @Joselyn Malik, that's like asking a 1000 people "How do I make money." It would take forever to cover this question.
Your best bet is to run down all the posts in this forum. It is chock full of all the info anyone could ever need. Successes, failures, tips, tricks, BKM's, what to buy, what not to buy, etc.
Don't rent to anyone that has some story of needing a temporary place to stay. They will say something like they sold their old house but are waiting for the owners of the house they are going to buy to move out.
@Joselyn Malik AirBNB is all about reviews. Anything less than 5 star review is bad so focus all your efforts on getting good reviews. You need good reviews to get superhost status which helps you get higher in search results, more bookings and higher priced bookings.
Getting good reviews is about setting the right expectations for guests ahead of time and exceeding those expectations. If the house is on a noisy street, say that upfront. The point is don't hide the negatives, so that people only book if they are ok with that. It is less likely they will ding you on reviews if they knew about an issue upfront.
Things that are important to people may vary by location, but generally speaking good communication, cleanliness, comfortable beds, good location, good internet and good parking are all important. I should clarify that cleanliness is most important. People find one hair in the shower and they freak out. Cleaning for AirBNB is different than cleaning your own house. Read up on what and how you clean.
Early on you may need to discount the property to get bookings when you are new and have no reviews. As you gain good reviews, you can increase price.
Also keep in mind that AirBNB is only one short term rental platform. VRBO and Furnished Finder are two other popular platforms.
I focus on vacation rentals, so some of this info will be specific to that niche:
It’s very important to make sure your location, design, and furnishings are cohesive and create an enticing guest experience. You are not offering them a place to sleep, you are offering them an unforgettable vacation experience.
Use professional photography to make sure that experience translates well into your listing. Use those photos to build a nice IG page and ask your Airbnb guests to tag you in IG.
Go ahead and use airbnb or vrbo to get started, but if you’re trying to run it like a business (you definitely should!) then you’ll want to start taking direct bookings as soon as possible. Set up a Lodgify account (or similar) and build out the site with their help. Then direct your IG followers or anyone else who reaches out to you directly to book there (it’s cheaper for them anyways).
Do everything you can do develop your own list of customers and future customers so you are not at the mercy of Airbnb or vrbo.
Try to be the best option in your area, all STVR’s are booked right now, but eventually things will cool off and you want to be the one that stays booked.
I focus on extended stays... that's stays longer than 31 days.
The biggest "don't" is .... don't use anyone's instant book feature UNLESS your unit is vacant and you've failed to create adequate marketing assets and are helplessly reliant on airbnb and vrbo to provide leads.
The 2nd biggest "don't" is... don't stop your marketing efforts once you're booked. Strive to get bookings without the assistance of online travel agencies such as airbnb.
Most important things in the STR market are: #1) Location - quaint cool desirable town or area, #2) as close as you can buy to the center of this town or area, #3) exceptional house - not necessarially expensive, but cute/funky/quaint/memorable, #4) Clean. Super clean. All the time.