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4 Ways to Make More Money As an Airbnb Host in 2021

It’s clear that travel looks far different at the start of 2021 than it did at the beginning of 2020. With the global pandemic shifting travel patterns and guest behaviors around the world, hosts can’t rely on the same old strategies if they want to see continued success.

A savvy host, however, can use this time to build up his/her business and take advantage of new opportunities. Here are four ways you can breathe new life into your Airbnb business and make more money from hosting in 2021.

1. Re-optimize your listing

At the beginning of the year, it’s always a good idea to revisit your listing and improve your optimization. Replace low-quality photos with better ones, break up big chunks of text to make your listing easier to skim, and be sure to include keywords in your title that will make potential guests want to click.

If you haven’t already, now is a great time to add information about your cleaning process to your description. Guests want to feel safe while booking, and they’re more likely to choose a host who is taking the concerns of guests seriously.

2. Improve your communication

In this day and age, travelers are more cautious than ever when booking their travel. There are more questions than usual to ask before booking, such as whether you offer contactless checkin or if local attractions are open.

It’s important to improve your communication and reply to any messages as quickly as possible. A delay can mean losing out on a potential guest to one of your competitors. Set up alerts on your phone so you’re notified the second a message comes through and you’ll be able to respond right away.

3. Know the local scene

As mentioned above, there’s more uncertainty than usual when it comes to travel during the global pandemic. Local restrictions and regulations can change week to week, leaving travelers wondering if their plans will pan out.

You can make the process easier for your potential guests by keeping your listing up to date with all of the important information they’ll need about your area, such as whether restaurants are open and what attractions they can experience while they’re there. You can win over more guests simply by making the booking process as convenient as possible.

4. Offer online experiences

Airbnb has recently launched “online experiences” as a way to help hosts make money even if visitors aren’t traveling as much as they used to. These experiences allow hosts to capitalize on their talents by filming video classes or experiences that anyone can pay to watch.

These can range from meditation lessons to tarot readings to escape rooms—the possibilities are endless! If you have a knack for cooking or a passion for yoga, you can share it with the world while opening a stream of passive income for when the travel season dies down.

Although it’s certainly a challenge to adapt to the shifting travel landscape that 2021 has to offer, a savvy host can still find success. By thinking outside the box and simplifying the process for your guests, you can ensure that your business stays active, no matter the news.

This article originally appeared in our twice-monthly Guest Book newsletter.

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Testimonials

At first I tried to take care of all of the cleaning process myself, and it turned out to be a bigger headache than anything else. So a friend told me about MaidThis and its been fantastic. I’ve been working with my cleaners for a few months so far. I recommend you check out the service for yourself.
Brent
Airbnb Host in LA
90+

Hours
Saved

I definitely think that as a company we've been able to make more money, not only because we're saving money by using Maid This, but also because they're helping take a few of the necessary evils with doing vacation rentals off of the property managers plate.
Laura G
Airbnb Host in LA
90+

Hours
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Should You Increase Your Nightly Rate?

increase nightly rate airbnb

 

Spring is a great time to re-evaluate things: Did you set goals for the new year? Time to revisit them and make sure you’re on track. Do you want to achieve something special this season? Write it down and make a plan.

When it comes to your Airbnb business, the majority of your success hinges on your nightly rate. Set it too high and you may be missing out on bookings. Set it too low and you may be missing out on money.

If you’re not sure how to determine your ideal nightly rate, here are 3 easy steps to help you find that sweet spot.

1. Look at your occupancy rate over the past year.

This can be a challenge if you don’t consider yourself to be much of a “numbers person,” but it’s well worth the effort.

Look back over your records from the past 6-12 months: How often did you have vacancies when you didn’t want them and what was your nightly rate?

Now, if you were booked a good amount of the time and are, overall, happy with your performance, look closer. How many weekends were you unwillingly vacant that you would have preferred to have been booked?

If you had few – or even better, no – vacancies over weekends over the timeframe you’re observing, chances are you can stand to raise your rate.

2. Look at your competitors in your area.

Spying on the competition is one of the best ways to get top-shelf information.

Run a search on other vacation rentals in your neighborhood. What’s their availability like over the next 4-8 weeks? Based on their photos, listing description, and reviews, do you think they should expect to be booked more or less than what they currently are?

Now, zero in on the money: What’s their average nightly rate? Again, based on a quick overview of their place, do you think it’s worth what they charge for an average or nightly rate? Do you think guests would be willing to pay more for their place and if so, how much? What about the opposite – are they charging too much? Should they lower their rate?

As a fellow host, you’re a bit of an expert. Go ahead –judge the competition and compare your notes to your own listing’s details.

3. Run an experiment: Raise your rate just a tad.

We don’t recommend doing this with vacancies that are just around the corner. Instead, look further into the future, a good 4-8 weeks ahead.

Keep yourself focused on your project. This will take some true observation skills.

Start small here – don’t get too excited. You know the (horrifying) anecdote about the frog in the pot and how he doesn’t notice as the water gets increasingly hotter? Apply the same principle here (without harming any amphibians).

You might begin by adding a small amount, say, $5-10 a night. Alternatively, go with a percentage instead, like 1-5%. Anything above $10 or 5% might be too high to really track differences, so be mindful of your price hikes.

Give it some time and watch what happens. Keep increasing your rate, little by little, until you hit a place where you either no longer feel comfortable inching higher or you start to see a (minor) dip in bookings when you think there shouldn’t be. Go back to that last “comfortable” rate and stick with it through the high season.

 

Finding your ideal rate truly is a science and requires a bit of elbow grease and patience. But for those who put in the effort, the payoff is (literally) worth it.

 

Clean my
Vacation Rental


single-blog-sidebar-vacation-rental
  • Automated Scheduling
  • Cleaning Report with Pictures
  • Never a No-Show. Guaranteed.
Book Now

Testimonials

At first I tried to take care of all of the cleaning process myself, and it turned out to be a bigger headache than anything else. So a friend told me about MaidThis and its been fantastic. I’ve been working with my cleaners for a few months so far. I recommend you check out the service for yourself.
Brent
Airbnb Host in LA
90+

Hours
Saved

I definitely think that as a company we've been able to make more money, not only because we're saving money by using Maid This, but also because they're helping take a few of the necessary evils with doing vacation rentals off of the property managers plate.
Laura G
Airbnb Host in LA
90+

Hours
Saved