Monday, 05 June 2017 00:00

Top 4 Tips for Renting Your Vacation Home on Airbnb

After you've gone through the process of finding the right vacation rental property financing and you've purchased your new assets, what do you do next? Maybe you've decided you want to use the home a few weeks out of the year and the rest of the year you want to rent your vacation home on Airbnb. This is an option many choose, and for good reason.

Airbnb provides one of the top options for those looking to book a vacation rental in some of the best destinations around the world. They have more than 1.5 million listings in over 34,000 cities with all kinds of accommodations. Here are seven tips you can use to make sure you get more bookings when listing your vacation rental with Airbnb.

Take Great Pictures

The one thing you have to set you apart from your competition is the picture you include with your listing. Sure, price might matter to some travelers, but if you don't show off great pictures, the price will become insignificant. If you have the means to get professional pictures taken, this is always a good option.

Scope Out your Competition

As soon as you list your vacation rental on Airbnb, you will be competing with other rentals in your area. Take a look at what others are offering and requiring. While you cannot change your house to include specific amenities, you can beat the competition when it comes to security deposits, cleaning fees, Wi-Fi, and rates.

Understand How Much Airbnb will Get

Before you list your property with Airbnb, it's important to know how much they will take. You want to make sure you cover all your financial bases when renting a vacation property. Airbnb will charge a service feet to the renter, but you may also need to pay a percentage, depending on the pricing model you choose.

Be Ready to "Wow" your Renters

When you decide to use any booking site for your vacation rental, you have to be ready to provide great service and a good experience for travelers. They will leave reviews and just a few bad reviews can sink your goals of making an income from your vacation rental. However, if you receive many good reviews, you'll start to see more traffic to your listing and you will likely gain more bookings, and earn higher rates.

There are several things to consider before you start renting your vacation property on Airbnb. Make sure you understand the process and what to expect before listing your vacation rental. It’s also important to calculate your net income based on the fees you will be charged by Airbnb and your loan financing. If you’re looking for a great way to offset the Airbnb listing fees, a blanket mortgage for your entire portfolio may be the right solution.

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