A plan for increasing the Airbnb occupancy rate should already be in your pocket before investing in short term rentals. The number of real estate investors drastically increases as investing in Airbnb rentals is seen as a gold mine in certain states. In the real estate market 2018 especially, the competition is very serious. Thus, it is our goal to show you how to maximize Airbnb occupancy rate, exclusively during the peak season. Constant attention to your tenants, a proactive strategy when owning an Airbnb and much more is needed to increase the Airbnb occupancy rate. Therefore, check out some real estate investing tips that will help you increase your Airbnb occupancy rate. Moreover, with this blog, we intend to help a landlord get the most out of owning an Airbnb business while the peak season is still on.
#1 Be Prepared for the Peak Season to Maximize Airbnb Occupancy Rate
We would like to start by presenting one of the most important real estate investing tips when increasing Airbnb occupancy rate. Ready? This is, namely, planning ahead in order to be prepared for the coming peak season. It is not complicated to manage the bookings when there are just a couple of them. Yet, during the peak season, the whole situation of keeping up with the reservations may become chaotic. This usually happens when the landlord does not plan upfront. Moreover, every landlord should keep in mind that the peak season may vary depending on the year. Consequently, the peak season in the real estate market 2018 will differ from the one in 2020, for example. Therefore, you should adapt as much as you can for the upcoming changes.
Another thing the landlord should estimate is the change in demand for his/her short term rentals. The landlord should ensure in advance that he/she will have all the needed resources to operate efficiently. Moreover, the Airbnb rental income will differ depending on the demand rate. Consequently, you should have an answer to the question “How much should I charge for rent?” Hiring an Airbnb property management company can be of great help here. However, if you want to do everything by yourself, we strongly advise using Mashvisor’s Airbnb profit calculator. To learn more about our product, click here. Also, if you are interested to learn more about boosting your Airbnb occupancy rate, make sure to read “How to Boost Your Airbnb Occupancy Rate.”
#2 Give Your Short Term Rentals a Seasonal Look
One of the great ways to increase your Airbnb occupancy rate is by giving your Airbnb rental income property a summer look. Of course, your rental property should look great all the time. However, giving it a summer makeover will show tenants that the landlord is keeping his/her Airbnb investment property in perfect shape. You do not need to spend a lot for the summer season look. Implementing only a few things for décor would be enough. For example, lighter bed linens, summer dinnerware sets, etc. would attract the tenants’ eye to your Airbnb investment property.
Additionally, after updating the décor, do not forget to upload photos so that your potential tenants can notice them when selecting the best Airbnb rental income property. This is a way to use the peak season as a great chance to make your short term rentals shine. The same will be valid for the winter if your property is close to a ski resort, for instance. Consequently, this might result in a serious increase in your Airbnb occupancy rate. Moreover, do not forget that this will also positively influence the quantity of positive Airbnb reviews.
#3 Become a Proactive Landlord to Increase Positive Airbnb Reviews
Of course, when owning an Airbnb rental business, providing quality service to tenants is the key to success. That is specifically valid during the peak season. Consequently, after your quality service, you may expect to receive positive Airbnb reviews. The more positive reviews you get on your Airbnb investment property, the more reservations you can expect. Thus, having high Airbnb occupancy rate will not be just a dream.
So, what are your tasks as a super landlord? Well, first of all, make sure to provide friendly service all the time. Second of all, do not make your Airbnb guests wait for too long for an answer to their questions before and during the stay. Finally, make sure that every guest enjoys their stay and experiences a cozy and safe atmosphere at your Airbnb investment property.
Now take this advice very seriously! You should ask your guests to leave feedback after their stay. Do not wait until your tenants leave some Airbnb reviews, just because they may not consider this as an important thing. Yet, for you, every positive review may give a great competitive advantage. Ready to find out how to earn positive Airbnb reviews? Make sure to read “How to Always Get Positive Airbnb Reviews.”
#4 Check Your Short Term Rentals for Outdated Information
Outdated information is one of the reasons you cannot maximize Airbnb occupancy rate. So let me ask you a question: How long has it been since you have posted pictures of your Airbnb investment property? Additionally, if you haven’t updated the house rules since day one, we strongly advise you to do it straight away. Why you may ask? Well, you are still planning on increasing your Airbnb occupancy rate, right?
When you are planning on increasing the Airbnb occupancy rate, there are certain things you should take seriously before posting your Airbnb investment property online. Make sure you do not mislead your potential tenants with the information you provide. Moreover, check your grammar as typos and poor vocabulary may have a negative impact on your Airbnb occupancy rate. Ensure that the information and pictures you provided create interest in your Airbnb investment property.
#5 Hire an Airbnb Property Management Company (Optional)
Well, hiring an Airbnb property management company is an option. Still, working with such companies has its own benefits. For instance, wondering “How much should I charge for rent?” or researching Airbnb regulations by city will not be your concern from now on. Moreover, a landlord may get great real estate investing tips when working with good Airbnb property management companies. Consequently, an Airbnb investor will be prepared for the real estate market 2018. Yet, hiring an Airbnb property management company is an additional expense, so make sure you consider this step carefully. Ready to know if hiring an Airbnb property management company is worth the costs? Make sure to read “Is Professional Airbnb Property Management Worth the Cost?”
Investing in short term rental property is a worthwhile activity. However, you should know how to manage your Airbnb investment property in order to have high Airbnb occupancy rate. Therefore, when looking for expanding your real estate investing business, consider using Mashvisor’s Airbnb profit calculator. The reason is simple. You need the best short term rentals with good real estate metrics to become the best in this business. So do not wait for too long, as it is the right time for action!