As Airbnb is gaining more popularity in the real estate investment world and challenging the traditional short-term rental systems of hotels and motels, the number of people investing in Airbnb is increasing. Airbnb is actually a great way to generate money; however, since Airbnb depends on the nightly rate income, the biggest challenge facing investors is how to increase their Airbnb occupancy rate and constantly have guests. Although many fixed factors affect the Airbnb occupancy rate such as location and seasons, there are various techniques real estate investors can enhance to push Airbnb occupancy rate up. This blog discusses the best ways to push your Airbnb occupancy rate up and, therefore, secure constant positive cash flow.
Focus on Proper Advertisement
When travelers look for Airbnb rental properties, the first thing that stands out is pictures and rental’s description. Pictures say A LOT about your Airbnb rental property, so you should put great attention to getting professional and good photos that show the property and its amenities because people are visual in nature, and taking good photos of a cleaned and organized property will significantly increase your Airbnb occupancy rate. Write an eye-catching and descriptive title, tell travelers what they want to hear, but be honest and focus on designing a description that represents the advantages and usefulness of the rental, what you offer, and what makes it special.
Related: How to Market Rental Property All the Way
Offer Special and Needed Amenities
People tend to use Airbnb because it is available and provides basic tools they need throughout their travelling including but not limited to: access to a fully equipped kitchen and living room in case you are renting out a room inside your house, good WiFi, comfortable mattress, AC, heating, extra bed and bath sheets, shampoos, and breakfast if possible. Cleanliness and tidiness are essential factors to raise Airbnb occupancy rate because no one wants to pay for a dirty place even if they want to stay for one or two days, so focus on that. You will eventually notice that all these small details will drastically raise your Airbnb occupancy rate and the quality of your property.
Provide Affordable Price and Occasional Discounts
Realistically speaking, most people go with the Airbnb option because it is affordable, and price is a crucial factor for travelers and guests to decide on whether to rent out your Airbnb or not. Do not price your Airbnb based on hotels’ standards because it is not a hotel and should be affordable for almost everyone. Users of Airbnb are mostly travelers on limited budget who want to discover new places, so when pricing your Airbnb, keep in mind these points and let your Airbnb welcome as many guests as possible in order to push your Airbnb occupancy rate and secure constant cash flow. Moreover, making some seasonal discounts is also a plus. For instant, during winter or seasons when people generally tend to travel less, try to make some discounts from your Airbnb rental price in order to encourage people to rent out your property and attract more guests, which will notably push up your Airbnb occupancy rate.
Related: How do I price my Airbnb property?
Stay in Constant Contact with Guests
Being responsive to inquiries and in constant communication with guests before and during their stay is significant and adds a plus to the quality of your Airbnb rental property. Good communication and flexibility with friendly tone and manners with people who inquire about the property will absolutely encourage them to rent it out, which will consequently increase your Airbnb occupancy rate and also add positive impression on you as a host as well as on your entire property. Moreover, it is important to be responsive and friendly with guests to get good reviews which will make your Airbnb stand out in the crowd on the Airbnb app.
Provide Friendly Environment
What differentiates Airbnb rental properties from other short-term rentals is their ability to provide guests with friendly and warm environment that hotels and motels lack, so make sure to use this advantage. With affordable budget, you can design and decorate your Airbnb rental property in a way that makes it comfortable and feels like home for guests. Put some air fragrance spray, hang some nice quotes on the wall, and put some extra tools like moisturizers, a list of suggestions for places to visit in the area, and a welcoming letter. These extremely simple ideas and details leave a positive impact on guests, making them feel like home, which will increase the quality and value of your property and eventually push your Airbnb occupancy rate up.
Focus on Getting Good Reviews
Reviews are the most important feature for guests to evaluate an Airbnb property and considered to have the biggest impact on Airbnb occupancy rate. Reviews give potential guests a first-hand knowledge about previous experiences of other guests which significantly help them assess the property. Similarly, many hosts read reviews on guests’ profiles to decide whether to accept them or not. There is certainly a link between Airbnb property’s quantity and quality of reviews and Airbnb occupancy rate. The more reviews you get, particularly positive ones, the more people would want to rent out your property; therefore, your Airbnb occupancy rate will go up. That is why both Airbnb hosts and Airbnb guests should submit feedback and reviews of their experiences.
Related: Everything to Know About Airbnb Reviews
Bottom Line
The good thing about trying to push your Airbnb occupancy rate is that it is totally possible and affordable if it is done in the right way. Simple things like uploading good pictures of the property, creating a friendly environment for guests, staying in constant contact with them, and providing needed amenities do not require a huge budget and are not time consuming. You just need to pay some attention to these details and always put the satisfaction of your Airbnb guests as number one priority in order to push your Airbnb occupancy rate up, generate cash flow, and succeed in this domain.
Mashvisor analyzes Airbnb rental properties across the US and uses data and numbers to estimate Airbnb rental properties’ income, which helps investors assess these properties and their profitability. Do not think twice and check it out right now!