Getting into the AirBNB Space
Have you thought about going from long term rentals to short term rentals? There are pros and cons to each, but what I have found, is that you can have a mix of both types of rentals, each one having their own unique process for screening, marketing and maximizing your dollar amount for each.
On a short term rental the key factor is location - you should ask these questions when considering a short term rental:
- What is the attraction to the area - why would people want to book your property?
- Who are you trying to market to - beach goers, mountain adventurers or theme park travelers.
- Will you allow pets?
- How will you manage the property? Is it within an area you live OR will you need to manage from afar?
- What support staff do you have in place? Cleaners, handymen, plumbers, etc.
When we started down this road of having a short term rental, we found the most difficult aspect: finding good, reliable cleaners to show up, tidy up our place, take pictures. When having a vacation rental, I can't stress the importance of a good cleaning team.
Imagine your guests showing up, and your property is not clean, think dirt on windowsills, ceiling fans not dusted, or sheets that have spots on them!! Yuck - no one is going to be happy with that situation.
To make matters worse: those same guests are going to let everyone know the condition they found your vacation rental, and they might affect the number of bookings you could have had!
So before taking the leap into short term rental, ask yourself the above questions AND start early getting a good support team. We have enjoyed being hosts, and has been a good source of income. You can venture into vacation rentals with an action plan of location, marketing, management and cleaning! Good luck.
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