For the majority of hosts, their financial bottom line is the most important thing. Knowing how and when to boost your Airbnb earnings is important for bringing some financial stability to your business. One of the greatest challenges is knowing when to unleash these strategies to boost your Airbnb earnings. Some can be adopted on a permanent basis, and some should only ever be used with caution.
Over the years, we’ve developed an extensive selection of blog posts aimed at increasing the financial stability of your Airbnb vacation rental property. We’ve touched on topics including pricing strategies, using discounts, special rate pricing, split stays, and more.
Eight Steps to Supercharge Your Airbnb Earnings & When to Use Them
Always: Run an Optimized Listing Page
Your Airbnb listing is like an advertisement for your property. It should be both attractive and informative while highlighting your property’s unique features and amenities. Use descriptive language to paint a picture of what it’s like to stay at your property, and include details like the number of bedrooms, bathrooms, and any other amenities that your guests can enjoy during their stay. Always highlight the unique parts of your property, like high-end amenities or features like pools and Jacuzzis.
Always: Keep Your Response Rates High & Fast
You could argue that your responsiveness as a host is the most critical aspect of the operations of any Airbnb. Why? Because it affects your search rank. Responding promptly to guest inquiries shows that you are reliable and committed to providing excellent customer service. Set up notifications on your phone or computer to ensure that you never miss a message from a potential guest. Respond to inquiries as quickly as possible, even if it’s just to let the guest know that you’re looking into their request.
Always: Keep Your Property in Five-Star Shape
A spotlessly clean and exceptionally well-maintained property is so important to ensuring that your guests have a comfortable and enjoyable stay. Make sure that your property is spotless before each guest arrives, and provide fresh linens and towels that smell and feel luxurious. Regularly check for any maintenance issues, such as leaks or broken appliances, and address them promptly. We recommend staying in your property at least twice a year to detect any minor issues, like dripping taps, loud appliances, lumpy mattresses, or noise issues.
Always: Use Professional Photography
The photos of your property are the first thing that potential guests will see, and they can make or break your listing. Investing in high-quality photos is a must if you want to attract guests and maximize your earnings. Hire a professional photographer or use a high-quality camera to take photos that showcase your property’s best features. Use natural light and include shots of the interior and exterior of your property, as well as any amenities that set it apart from other listings.
Seasonally: Adjust Your Pricing
It’s almost impossible to succeed in the vacation rental game with one pricing strategy for the entire year. Visitors are after different things at different times of the year, and it’s essential that your pricing reflects that. Most hosts opt for higher prices and lower minimum stays in their busier periods and lower prices with higher minimum stays in their less popular periods. With DPGO, your prices are updated on a daily basis using live market data, but still kept within the borders of the pricing limits you set via your Performance Dashboard interface.
Seasonally: Alter Your Listing Description & Imagery
As we stated above, travelers at different times of the year want different things. In summer, people are looking for outdoor activities like pools. In winter, they look for cozier amenities like Jacuzzis and fireplaces. Altering your listing description and images to better reflect these seasonal demands is a great way to give your listing an extra boost. It does mean more work from the host or property manager, but in reality, few hosts do this, and that gives those who do a distinct advantage.
Seasonally: Offer Discounts
Discounts are a great way to stimulate bookings and boost those Airbnb earnings in less busy periods. There are creative ways of offering discounts without necessarily decreasing your prices. We’re big fans of the ‘stay three nights and get a fourth-night free’ style of offers, especially when it comes to weekends. If a guest wants to check in on Friday and check out on Sunday, offer them Sunday night for 50% of your normal booking price. You can also allow two extra guests if they stay an extra night. Discounts don’t always have to mean daily rate decreases. Look at them as an opportunity to get creative!
Annually: Refresh Your Property
With social media apps like Instagram and TikTok filled with advice on how to complete cheap yet impactful miniature renovations, hosts have no excuse not to give their properties an annual refresh. Switch the bedrooms around, buy new linens, paint a wall or three – there are so many ways to inject some new life into your property. Over the past years, we’ve seen an increase in guests booking the same properties again and again. This influx of repeat business makes an annual refresh even more important. Give your guests something new to get excited about!
Comments are closed.