Business Travel

How to increase your profits with Airbnb

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Airbnb has become a source of money not only for people offering their rooms for rental but for several business and companies that have risen around this multi-billion company (according to a Business Insider piece the company now is worth $25.5 billion).

The key for succeeding in Airbnb is having your place occupied the whole year  and getting great reviews, but sometimes these to tasks are not so easy to accomplish.

Reviews are the base of  the Airbnb system because they are like the star rating for a hotel: they determine if you are a good host, if your place is clean enough and even if you gave clear instructions to your guests.

There has been a “boom” of successful industries and startups like Hostmaker, Boxpitality or Guesty that provide external services like rental management or hospitality boxes that will help your business to become more profitable.

WE also give you 5 pieces of advice that will help you get better reviews and manage your business like a pro:

1-Be organized: you must try to handle your add like a professional giving a rapid answer to your potential guests and organizing your calendar. If you happen to a have a very busy agenda you must consider using external management services like the ones provided by Hostmaker that will help you give a better service and get better reviews.

2- Communicate: rules should always be clear because although it might seem a hotel but it is not. You must establish from the beginning boundaries and accepted/rejected behaviors on your property, that way guests will know how to behave and what should they expect from you.

3- Be a good host: you are most likely to collect good reviews if you provide a nice space with basic facilities like hot water, towels, AC/heating, soap. Try to treat your guests they way you will like to be treated and for sure you will receive great reviews.

4- Understand your business: try to develop a commercial eye and identify your low and high seasons so you can adjust the price of your property based on supply and demand.

5- Develop a commercial sixth sense: take good pictures of your property, offer promotions and special deals and try to accommodate to your client´s needs: you will see your reviews and Airbnb profits soar.

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