Getting the most out of Airbnb can be tricky at times. Although it’s one of the world’s largest vacation rental networks, there’s still a lot to discover. Maybe you want to make more money, have a higher occupancy rate, or even automate your messaging. These are all great ideas, and in this quick guide we share what you need to do to get the most out of your listings!
Don’t want to set it up yourself? Visit www.awayagents.com and we’ll do it for you.
You took all of the pictures, you wrote the descriptions, you even fixed the dishwasher, but something’s still missing. It’s the payoff. One of the biggest challenges on Airbnb is pricing. If you set the prices manually without research, and you risk not being competitive; however, if you let Airbnb price your listings automatically, you usually lose out on the rates you should be getting. So what’s the solution? Research.
Start by looking at what other people are charging for your area! This is a great free way to gauge if you’re competitively priced. Are your competitors getting bookings at that price? Check the reservation calendar and reviews to find out! Another option is paying for a service such as AirDNA. These services provide monthly metrics so you can price your Vail Airbnb listing more effectively. If this isn’t the best solution for you, visit www.awayagents.com and we’ll get you set up! We have access to all of the data and strategies.
Your listing was packed in February, but now what? Maintaining a high occupancy rate year round is critical to your success! The second biggest challenge on Airbnb is occupancy. Of course, price and occupancy are directly related. Once your prices are competitive, your occupancy should naturally rise (read above). If you’re looking to compare your occupancy with the market standard, do some research on who else is booked and write it down in a spreadsheet. Or subscribe to a data platform and they’ll send the data your way.
Your listing is doing great, but your response time is slow, and your response rate is far from high. That can cost you as vacationers often book elsewhere if they don’t hear back immediately. How do you fix it? Automation.
Automated messaging can be a lifesaver once it is set up for your account! To start, you may simply want to have pre-written messages in your phone. Just copy and paste for the right situation! Although this is a great solution for free, it still doesn’t help you save time or catch those missed messages. We suggest going with property management technology such as what we offer! Once utilized, your response rates will be nearly instant and your response percentage will near 100%.