The Airbnb Era: Making Money Out of Short-Term Rentals
A milestone that is important to so many people is purchasing a home. The path to homeownership is long, winding, and even tumultuous for some aspiring buyers. But they will enjoy the sense of accomplishment that will fill them once they enter their first home.
However, it isn’t always happiness and sunshine. Over time, mortgage and utility fees won’t be the only things to fret over. Homeowners from Brisbane, or anywhere else for that matter, will have to worry about managing the home as they spend years in it.
Some parts of the house will need slight touch-ups, such as wallpaper or flooring. Other items may need to be replaced, such as doors or shower screens. These are easy to manage with a simple door or shower screen installation by experts.
The house being in tip-top shape is something to take pride in. Taking comfort and appreciating the aesthetic of one’s home is enough of a reward for most people.
Renting your home out
For others, this is not the case. In recent years, more and more people are profiting from being homeowners. Those who are fortunate enough to own more than one property have double (or even triple) to worry about, which is mainly the costs. But this can be easily alleviated by renting the properties out on either short-term or long-term bases.
Properties located in vacation destinations, maybe somewhere in hotter or colder climates, are likely to be advertised as short-term rentals. These rentals are sometimes referred to as Airbnb or instant hotels, and they are taking the modern world by storm.
Travellers are now opting to stay in these properties mainly because of their affordability compared to the typical hotel. Due to the high demand, more homeowners are now drawn in by this concept. Are you aspiring to become an instant hotel owner? Take note of the following things.
Pampering your guests
Many believe that the devil is in the details, and this is very much true in the renting industry. You must meet, if not exceed, the price that they have set for their properties. This means maintaining the cleanliness of the place, ensuring that the rooms are spotless and the linens clean.
Moreover, amenities such as food and drinks should be fully stocked, and some form of indoor entertainment should also be provided. You can also offer welcoming gifts to your guests to make their stay feel extra special.
Advertising your property
You must know the importance of public perception. High-quality photos that capture the character of the property and highlight the amenities are much appreciated in this business. Furthermore, the writeup for the home should be in-depth and accurate.
While some people may feel that over-selling their property is the best way to gain profit, this will only backfire when the renters see the real thing and feel that you have tricked them.
Giving a good impression
The rating of the property is not only affected by the home itself. Sometimes, interaction with you as the owner can impact the number of stars received also.
But even without this star-system, you must be warm and welcoming when you first meet your guests. This also means having the property ready by the time of check-in, and being able to quickly respond via text or call should the guests encounter any problems during their stay.
Profit may be your main reason for considering entering the instant hotel business. Nonetheless, you must remember the importance of providing quality service so that you can earn the prizes of being in this business.