Rental Home Financing Investment Loans
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.