There’s no doubt that with the rise of AirBnb renting out your primary or secondary residence as a short-stay or holiday rental to boost your income has never been easier. To give yourself the best chance of success, follow these few short tips.
Do you homework
If you’re considering listing a property as a holiday rental, it’s useful to know your market and check out the competition. Noelene Cason, who has been listing her Sydney granny flat for nine months began will some simple research. “I researched online to see what was available in the local short-term rental market, I was certain I could provide something better and the research helped me price competitively”. On the other hand, get out there and rent a few yourself; a disappointing stay at a property rented through AirBnb or other platforms will teach you what not to do.
Kit it out
Extensive facilities help attract a higher rental price for your property. Noelene added a full kitchen and cooktop to her studio and installed a washing machine and dryer. “The laundry facilities mean the studio is truly self-contained,” she says. “We didn't want to share our own home’s facilities, and this also adds more flexibility for guests – they can wash and change linen whenever they want. Plus again, it adds value to the home.” She adds: “I spent wisely to avoid cost blowout; I sourced my tiles from Bunnings and looked for specials.” On the other hand, be cautious about the furniture you buy; not all guests are going to treat everything with care equally.
Go the extra mile
In addition to big-ticket appliances, think about what your guests may find useful depending on where your property is located. If it’s by the beach, does it have a clothes rack to hang beach towels outside? If it’s suited for children, think about the addition of a few board games.
Further, kitting out the property with enticing extras such as an Nespresso coffee machine or microwave could add surprising benefit for your guests. Even if you know you may have a couple staying celebrating their anniversary, leaving a bottle of wine on the bench for their arrival could make the difference between an average and an excellent review. At the end of the day, it’s the little thoughts that count and the things your guests may remember you for.
Sell it well
Attract your bookings with a well-written, clear, informative listing highlighting your property’s key assets. Paint a picture of how lovely it feels to be in there. Take care in uploading photos of the property and interior that actually represent the listing; consider hiring a professional photographer.
Think like a tour guide
Make sure your listing outlines key features relative to where your property is located. Think about what would be convenient for you if you were staying in that city; what landmarks is it near, how close is the nearest supermarket, how far from the airport or how close to public transport is it?
Courtesy: Adapted from SMH & HomeAway