Increase income from your AirBNB property by 20%
Sometimes it only takes a few minor adjustments in your AirBNB listing to make a big difference in your income. It can be enough to take a free holiday.
You probably know many of these things, but the question is are you doing them?
One Night Bookings
Most people set the minimum nights to 2 in AirBNB so they don’t get lots of short bookings. A problem arises when you have one free night between long bookings. People cant book it because the minimum is set at 2. To avoid this problem, look through your calendar regularly for the single days and change the minimum nights setting to 1. Our company checks the calendar daily to maximise income for each apartment.
Quality photos make people think you have a quality apartment. If the photos don’t look good on AirBNB, it makes you wonder what else is wrong with the apartment. Many owners think near enough is good enough, but it can make a big difference in your bookings. Prague is a very competitive market for listings and there are many perfectly presented properties. Any potential guest will prefer a well-presented apartment. Some tips to improve your photos:
· Use a professional photographer. They will always do a better job and have more experience than you. I can recommend one.
· Lighting – take the photos on a sunny day and turn on all the lights in the flat so it looks bright
· Order – use your best photo first followed by the best photo of each room eg. view from balcony, lounge room looking out, kitchen, bedroom & bathroom. Many people only look at the first few photos. You can then add other photos after this group. It is also good to include pictures of surrounding attractions
· Setting – make sure the rooms are clean & uncluttered. Set the dining room table with plates and wine glasses so guests can imagine themselves being there. Do the same for the balcony.
· Highlights – show people what is special about your property. It could be the view, the pool, the high tech shower, etc.
· Captions – people don’t know what they are looking at unless you tell them. Sometimes guests don’t even read the listing description so captions will help you to get their attention
· Corner shots – shots taken towards a corner make the room seem bigger
· Local attractions – include photos of your local area to show how interesting it is
· Building – show people where they are staying
Honeco only uses professional photos with the best lighting and presentation
Have you ever been to the same hotel and wondered why they charge a different rate every time you visit? Its all about availability and demand. The price goes up when:
· There are less rooms available
· It’s a weekend
· Its summer
· There is a special event
· School and other public holidays
For some reason, many property owners think it is easier to charge one fixed daily rate for the whole month. This is a sure way to lose money. If you don’t know how to vary the prices on your listing, go to AirBNB and check the daily rates of similar listings. Only look at listings with a high occupancy. Low occupancy means something is wrong – price too high, poor presentation, etc. As a general rule, your Friday/Saturday night rate should be at least 20% higher than the weekday rate.
Another alternative is too use pricing software such as PriceLabs or BeyondPricing.
Honeco checks prices for each apartment daily
If you would like more information about short term property rental, feel free to contact us anytime on our Facebook page or our website Honeco.cz