Airbnb can be a great way to earn money by renting out your property but there are also some things you need to know in order to get the most out of your Airbnb experience. These days the competition is very big, especially in a major world city such as London, so you will likely need something original to stay ahead of competitors.The growing popularity of Airbnb has enabled many people to rent out their rooms or apartments but this doesn’t guarantee success, as there are many factors which contribute to a great guest experience.
We have prepared a short list of essential tips to help you run an Airbnb business in London.
Know What You Want
Before you actually become a host and start receiving your first guests, it’s very important you decide what your goals and expectations are. Are you just seeking a little extra income and have a spare room that would fit for purpose? Or you want to go full-time and commit a serious amount of time and effort into running an Airbnb business?
A lot will depend on your choice, namely, the risks involved as full-time hosts will require significantly more effort to run their business.
Have Good Communication Skills
Running an Airbnb business means that you will be receiving a lot of people in your home or rental unit. Good communication is the key to a great guest experience so it’s essential that you are able to communicate with your guests in the best way possible.
It’s likely that as a host, you will have to interact with your guests several times a day. Good communications skills on your part will guarantee that the guests feel welcome during their stay.
Stand Out From Your Competitors
One of the major features of running an Airbnb business is the type of experience that you will be offering to your guests. Many guests will look for a completely individualized experience, in line with their specific interests and expectations.
Make sure you always provide a full list of activities near the space you’re renting, such as bike lanes, hiking trails, local sights, and restaurants. The more specific you are, the greater the chance you will attract more guests.
Work on Visibility
Even if you have the best accommodations to offer, your business won’t be successful if it’s not visible on the internet. London is a large city and you’ll face many competitors which is why you need to increase your visibility.
One of the best ways to do it is by contacting a rental management company. An airbnb management service London can significantly increase your visibility by getting your listing featured on sites such a Booking.com and Tripadvisor.
Set the Right Price
In many cities worldwide, Airbnb is significantly cheaper than hotels but the opposite is true for many other major world cities. Setting the right price for your listing is not always an easy task as there will be many factors you need to enter into the equation.
If you’re just starting your Airbnb business, it might be a good idea to offer a lower price to be competitive and earn good reviews.