Having a vacation rental is not as easy as it looks, many people can attest to how much work can go into a vacation rental after just a few experiences. Just like anything else, there is good and bad, and there are some nuances to being successful with it.
Think about the time
I have heard so many people say that they want to start to Airbnb out their room, their house, their garage, their hammock. Yes, they did say hammock and they do Airbnb that sucker out, but I don’t think they make a lot of money. Anyway, the point is, it takes some time regardless of what you are renting out. Many people get their vacation rental going and then they get out quickly. Why? Because they didn’t realize how time consuming it CAN be (unless it’s just a hammock). Put some thought into how much time you have to dedicate to a vacation rental. It takes work to be successful.
Think About the Service Industry
If you’ve bartended, waited tables, cashiered, you are grandfathered into the service club, and you know what I’m talking about when I say, think about the people that you are going to have to deal with. Now, when I had an Airbnb, the vast majority of people were really cool and I would love to see many of them again. Notice I said vast majority. Hey man, the world is full of people, and you are bound to get some doozies – the worst are the demanding or unreasonable ones and we all get them, can you handle it? I mean with poise. People aren’t easy, but it’s part of the deal, make sure you can handle the pressure of difficult people and think about how you will work with challenging people.
Clean, Clean, Clean
This is always worth mentioning because it is the biggest part of having a vacation rental in my book. Who is going to clean that thing? Do you plan on having more than one? Cleaning can be a lot of work depending on whether it is a space in your space, or its an investment property or your own house that you plan on using Airbnb when you are away. Cleanliness is ALWAYS mentioned in reviews, so take it seriously. Really seriously. Remember those unreasonable people? They will be the ones picking you apart if your place isn’t immaculate. Therefore you must find a good Airbnb cleaning service.
If you cannot commit to doing it yourself, hire a vacation rental cleaner – it is worth every penny once you find a good one! A good reliable vacation rental cleaner is worth their weight in gold and will likely save your butt on more than one occasion. Don’t let this detail be an afterthought.
Pricing Your Space
This is a tricky one for a number of reasons. First of all, Airbnb has a cool little tool which will tell you what the competitive prices are in your area. However, I always ignored it and priced it out myself. Take a peek at what others are charging for what they have to offer and try to stay in the ball park. You can (and should) always be looking to tweak your pricing when necessary. Also consider where you are, and what might be going on that will effect the pricing of a vacation rental.
After 10 solid years, Airbnb is growing steadily and shows no signs of stopping, its good for both the renters and the guests. Talk to some people that are in the game, and the next time you stay in one, talk to the owner if you can and get their feedback. The vacation rental market isn’t going anywhere, and with now 400 million guests hosted (isn’t that crazy!) since 2008, it’s not a bad gig to be a part of!
About the Author: Lisa is a professional Airbnb cleaner located in Denver, Colorado. To view Lisa’s profile or to book Lisa for your next short term rental cleaning, visit her profile or find an Airbnb cleaner in your area.