You've seen those Airbnb "gurus" online or on social media, right? They make it look so easy! All you have to do is join their super expensive mastermind. Buy a property in Anywhere, America. Fill it up with the lowest price furnishings you can find on Amazon. Make an Airbnb listing and voila! Guests will book your place like crazy. All you have to do is watch the money start pouring into your bank account. You're gonna be so rich!
Do I still have your attention? If so, you probably already know the cold, hard truth.
But first, let's quickly go over a few pieces of terminology:
Vacation rentals - In vacation destinations (think beach or mountain towns), people with (usually) second homes have been renting them out to other travelers for decades. This is where vacation rental management companies have stepped in to oversee that transaction and care & maintain each property.
Short term rentals - A more broad definition of vacation rental industry that covers many different types of homes in all kinds of destinations.
Airbnb - A publicly traded company started by Brian Chesky (well, there was another guy early on, but he doesn't really matter at this point). Airbnb is an online travel agency (like Expedia or Kayak) and is a tool to connect travelers to accommodations. Overtime, the name Airbnb became synonymous with short term rentals. Just like how the brand Kleenex became the word you used when you needed someone to pass you a facial tissue. When most people nowadays are looking for a short term rental, they often say they're looking for an Airbnb.
Okay back to the cold, hard truth...
Starting a short term rental is hard.
Operating a short term rental is hard.
Maintaining exceptional guest experiences is hard.
But we have good news! Before getting started on your short term rental journey, you can make your life a little easier if you Don't Do These 10 Things!
Skip the Research! Not every home can be a successful short term rental. Find a home that would be a good fit for your ideal traveler. Understand what drives tourism to the area. Talk to the local officials about short term rental regulations (what's on the books now? what changes are being discussed for the future?).
Ignore Safety Standards! The question is not "if" but "when" something bad happens to your short term rental. Guest safety should be your top priority. This should drive every decision you make, including what brand & type of smoke alarms you install in the home (and where), the design & layout of your furnishings, the amenities you include, even the type of exterior lighting you add to the property.
Take Your Own Photos! Maybe in 2015 you could use your own phone to take pictures of your home. Not anymore! Professional photos are a must and will help your listing stand out from the competition.
Cut Corners on Cleaning! Guests these days expect hotel-level cleanliness. One missed hair and your guest will start to see all the other cleaning short comings in the home. Have a cleaning operations process in place so every turnover is completed exactly the same way, every time. At Pro Familia Homes, we use & highly recommend Breezeway to assist in the operations of your short term rental (tell them Lynn at Pro Familia Homes sent you!).
Overlook Clear House Rules! House rules that are clear and direct will help prevent misunderstandings between you and the guest. Ultimately, the house rules are there to keep your guests safe and the property in good condition. Set the boundaries upfront to ensure everyone’s on the same page.
Accept Every Guest! Your short term rental is not a good fit for every traveler out there. Know who your ideal guest is (and isn't). This will help you screen your guests so you can ensure they are a good fit for your home. At Pro Familia Homes, we use & recommend SuperHog for additional guest screening. This helps us know that the person staying at the property is who they say they are.
Set and Forget Your Pricing! If you only offer two prices: a weekday price and a weekend price, you are leaving money on the table. Use a dynamic pricing tool (at Pro Familia Homes we use & recommend Wheelhouse) to help you make pricing adjustments 24/7/365. These tools analyze millions of data points in your market so your listing can stay competitive and have a greater chance of getting booked.
Set Unrealistic Expectations! Over-promising and under-delivering is the surest way to get a negative review. Be honest about your property’s features and amenities. We like to include a "Home Truths" section on each listing, so guests understand the home's quirks and limitation. Guests appreciate transparency and are more likely to leave positive reviews when their expectations are met or exceeded.
Skimp on Amenities! Don't cut corners on amenities to save a little money. We like to offer a "starter package" of basic supplies for each stay. These starter supplies (such as trash bags, dishwasher pods, laundry supplies, paper towels, toilet paper and toiletries) should get the guest through the entire stay. Going the extra mile with thoughtful touches like chocolates or snacks can earn you glowing reviews and repeat bookings.
Hire an Inexperienced Co-Host! An inexperienced co-host can make or break your short term rental. They might overlook important details, mishandle guest communications, or fail to resolve issues promptly. A seasoned co-host brings expertise, ensuring smooth operations and happy guests. Your property deserves the best care!
Read through the list and thinking to yourself - "Ain't nobody got time for that"!?
At Pro Familia Homes, we co-host short term rentals for other property owners who don't have the time or want the hassle of managing their property and being available for guests 24 hours a day, 7 days a week, 365 days a year.
Feel like you've got this? Awesome! Just remember, hosting is not just about providing a place to stay—it's about creating a memorable experience for your guests. Prioritize safety, cleanliness, and clear communication, and you'll set yourself apart as a top-notch host. Happy hosting!
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