Focus on Guest Experience
First off, you’re not just providing a bed; you’re curating an experience. The better the experience, the higher the reviews and, in turn, your revenue. Think about amenities that go beyond the basics, like smart TVs, espresso machines, or unique local art. Who’s staying at your place? Cater the amenities to best suit their needs. If you have a family friendly Airbnb, provide activities for kids. If you allow pets (Highly recommended), make sure you have a dog bed. Designing to your audience and theme is key to attracting bookings.
Quality over Quantity
Quality trumps quantity. Investing in premium bedding, an intuitive check-in system, and five-star-worthy amenities doesn’t just meet guest expectations; it shatters them. And when that happens, stellar reviews follow. You know what follows stellar reviews? A higher nightly rate and more bookings!
But you don’t always need to invest in the most expensive furnishings. As a rule of thumb, the more a piece is actively used, the more you want to invest in durability and comfort. When it comes to items like light fixtures and art, you can save money and still purchase a beautiful piece.
Price Appropriately
Dynamic pricing is your best friend. Seasons change; so should your prices. Local events, holidays, even the weather—these all affect demand. Use specialized software to adjust your pricing in real-time and make sure you’re not leaving money on the table. Price labs, Wheelhouse, and Beyond Pricing are 3 great options to look into depending on your need.
Automate What You Can
Automation, when used right, can supercharge your operation. Smart locks, automated guest messaging, and other hands-free solutions not only make your life easier but also eliminate potential friction points for guests. The smoother the operation, the happier the customer.
If you have multiple listings, it would be wise to invest in property management software such as Guesty or Lodgify.
Upsells
Don’t just rely on room rates. Upsell. Offer additional services that enhance the guest experience, like local tours, or bike rentals. If you can provide it, there’s probably someone willing to pay for it. In our experience, up to 60% of your guests will purchase an upsell for a popular service like a prestocked fridge or a fun local tour, all things you can offer via the Houstr platform.
Clear Communication
Transparent communication is vital. Lay it all out—amenities, house rules, local tips—so your guests know what they’re walking into. The more upfront you are, the less room there is for negative surprises and bad reviews. Start with making your listing as descriptive as possible. Services like 3dMyrental allow you to create a 3d map of your property that guests can view before they ever book, keeping surprises to a minimum and 5 star reviews more likely (:
Data is your Friend
Now, the best hosts don’t fly blind; they use data. Airbnb offers analytics tools that provide insights into your listing’s performance. These numbers aren’t just metrics; they’re the diagnostics you need to fine-tune your approach for maximum profitability.
Services like bnbcalc and Airdna are great resources to see what the most profitable rentals in your market are offering to keep their occupancy rates high. Emulate them and watch your profits soar.
Retain Happy Guests
Acquisition is expensive; retention is not. Keep in touch with past guests. Capture their email and offer them special rates or exclusive packages. If you have a direct booking site (Recommended) – even better. You’re now building your own brand and avoiding the expensive fees of 3rd party marketplaces. Remember, the cost of retaining an old customer is often much less than acquiring a new one.
Leverage your Market
Specializing can set you apart in a crowded marketplace. Close to the beach? Stock some surfboards. Near a national park? How about some hiking gear? Think about what makes your location special and double down on that. BONUS: Include some freebies with your rental, but offer additional upsells like bicycle or kayak rentals to increase your profits.
Diversify
Finally, diversification is key. Don’t solely rely on Airbnb. Consider spreading out your listing across multiple platforms like Booking.com, VRBO, and Google or niche marketplaces like LodgeLovers. More exposure means less risk and more potential for bookings. Utilize a channel managers to list across multiple platform with the click of one button and prevent double bookings.
To sum up, breaking through the SuperHost ceiling requires more than just listing a property; it demands a guest-focused and data-driven operation. So go ahead, make your move. It’s a competitive world out there, but with the right strategies, your short-term rental operation should operate efficiently and profitably.
