Get ready for 2017. We all know having an Airbnb investment property can sometimes be much more profitable than a traditional rental property. It’s just about being at the right place at the right time.
Every year, there are numerous holidays, festivals, conferences, and many other events in the United States that bring national and international guests to the same spot. Those guest are usually seeking for short-term loading, which is when those with Airbnb investment properties or vacation rentals are able to reap the benefits of investing in property.
These are some of the most anticipated events of the year and have proved to be successful for Airbnb in the past.
Related: Rio 2016 Olympics: Airbnb Wins
Inauguration Day | Washington, D.C. | January 20, 2017
Inauguration Day is a turning point in the U.S. that takes place every four years. It is a ceremony that marks the beginning of the U.S. President’s new four-year term. Americans from all over the country come to D.C. to watch the swearing-in ceremony and the inaugural parade. When President Barack Obama became president in 2009, over 1.8 million attended, setting an all-time record.
This year’s Inauguration Day, however, will be like no other before. Not only is President-Elect Donald Trump one of the most controversial presidents in history to become president, but Airbnb projected a 600% increase in the number of bookings from President Obama’s second inauguration in 2013.
Despite the estimates from Airbnb, some are estimating that Trump will not receive as large of an audience as Obama did in 2009. Many people booked Airbnb properties months in advance to attend the Inauguration and many supporters of Hillary Clinton later cancelled, after Trump’s victory.
Nevertheless, Airbnb properties are going for nearly three times the normal price for this event. f you haven’t listed your Airbnb investment property yet, there are surely some people still looking for a list minute booking.
Tip: It might be best to not discuss politics with guests.
Super Bowl LI (51) | Houston, Texas | February 6, 2017
The Super Bowl is the National Football League’s annual championship game. While millions of Americans stay at home and watch the game on TV, many travel to see the game take place in person and to watch the halftime ceremony.
Last year, Roman Harper from the South Carolina Panthers football team listed his own home on Airbnb for guests to rent during the Super Bowl, and watch him play while sitting on his very own couch. His property was listed at $5,000 per night, and all proceeds went to his charity, Harper’s Hope 41 Foundation. This shed light on the popularity of Airbnb during the Super Bowl and the potential increase in profits Airbnb hosts and investors could make.
While increasing the nightly rate during the Super Bowl is a given, be careful not to raise it too high. Unlike with the Inauguration, there will likely be more listings than people attending. During Super Bowl 50, many hosts observed the increase in hotel rates and decided to mirror their pricing model. Unfortunately, there became more listings than bookings, resulting in low Airbnb occupancy rates. If you’re planning on renting out to the Super Bowl, feel free to raise the prices but know there will be plenty of other Airbnb Houston listings.
Tip: It might be best to not discuss which team you’re rooting for with guests.
Mardi Gras | New Orleans, Louisiana | February 28, 2017
Mardi Gras is a religious holiday and series of different celebrations, enriched with culture. This is one of the most exciting times to be in New Orleans. Parades begin in January although the most popular time to go is the weekend before Mardi Gras, from February 24-28.
Mardi Gras refers to Fat Tuesday, which is the last day of festivities before Lent begins on Ash Wednesday. Before Lent begins, there is Carnival, which is nearly a two-month worth of celebrations in New Orleans, and people from all over the country come to join.
South by Southwest (SXSW) | Austin, Texas, | March 10 – 19, 2017
SXSW is an annual conference and festival that takes places in Austin. The events are meant to celebrate the film and music industry and their union. The 10-day event consists of different exhibitions, sessions, screenings, and networking events so that professionals in these industries can come together. On the last day, there is a music festival that is open to the public.
Owners of Austin Airbnb investment properties are used to the expected success and increase in rental income during SXSW. Last year, hosts reported doubling and tripling their nightly rate. However, there’s an even bigger chance to make more money if properties are rented to out to the big companies that attend the conference. An apartment in downtown Austin rented for $10,000 a night during last year’s event.
Tip: Search for the top Airbnb neighborhoods and properties on Mashvisor. Find the expected Airbnb occupancy rate, rental income, and cash on cash return.
While these events can be great for you Airbnb occupancy rate and rental income, be sure not to go crazy with pricing. You want to take advantage of these but you don’t want to turn guests away. Here’s to 2017 being a successful year for real estate investors.