It started with social media oversharing. Then ride-sharing. Now, it’s home-sharing. Our interconnectedness is making a massive dent against corporate accommodation services like taxis…and now hotels. If you have an extra room, a house that you are looking to sell that isn’t selling, or a vacation home, you can make some serious money. Here is how to make an extra $3000 to $5000 using Airbnb.
Be Competitive and Comparable
If you own property in a city that many people visit like San Francisco, New York, or Seattle, then you might be sitting on some serious cash. Don’t underestimate your place. People aren’t paying for Airbnb to be treated like the Ritz Carlton. They’re choosing your place because of location. Scope out how much other people in the neighborhood are charging. Then see how close they are certain attractions. For instance, if there’s a place that is 3 miles from the Riverwalk in San Antonio and your place is 2.5 miles, try charging an extra $20. If people are still biting, then think about slowly increasing the prices.
View this post on Instagram
Put the BNB in Airbnb
Are you renting out a room, in-law, or pool house? Go the extra mile and cook them breakfast. Eggs, toast, and coffee go a long way in impressing guests and boosting the overall perception of your rental.
Not to mention, these ingredients are pretty cheap! You are guaranteed to get a high return on your investment based on a gesture that cost you less than ten bucks. Besides, you need to eat too. This is all about sharing. Share your breakfast with your guests! Advertise Your Airbnb
Want to make an extra $3000 to $5000 with your rental? Treat it like a business. Invest in getting the word out there. Make flyers and put them in common areas that hold community boards such as the post office, grocery store, or even Starbucks. Also, share your Airbnb profile on social media. Encourage your friends and family to share. After all, who better to have in your place then people your loved ones trust?
Make it Look Good
Appearance is everything. From the listing to the actual rental itself. Make sure your photographs look pristine. Keep your profile simple and to the point. You don’t want to turn off potential renters with mouthy jargon or dark pictures.
Then there’s the actual rental. Sure, we said you can charge more based on location rather than the place itself. However, if you are offering a mattress on a floor, you’re not going to make $3 let alone $3000.
There’s a certain mystique that surrounds the words “BNB.” Keep the rental spotless. You must meet some, if not all of those expectations if you are going to find any success with your Airbnb rental.