Your Airbnb occupancy rate is the most important factor that determines whether or not your vacation rental business will be successful. As a host, you know that the occupancy rate is closely connected to how much revenue your rental property can generate. That means, the higher the occupancy rate, the more money you can make during a certain period.
However, maximizing your Airbnb occupancy rate is easier said than done. To help you boost your occupancy rate, we’ve created a list of the top 11 rental management strategies and tactics. Read on to find out what steps you need to take to improve your Airbnb occupancy rate and secure more bookings.
If you are just starting out, the first thing to consider is the location of your Airbnb investment property. Real estate investing requires a proactive approach and the potential occupancy rate is the first thing to take into account. Research different options on the housing market. The rule of thumb is to select those located in the areas with the highest demand among travelers.
Try to avoid locations that are highly seasonal, as they allow you to generate profits only at specific periods. Seasoned real estate investors suggest choosing properties in cities that have no restrictions with regards to the number of days hosts are allowed to rent out their short-term rentals.
Finally, check local regulations to comply with the law fully. This way, you will avoid legal issues and will be able to run your business smoothly in the long run.
Sticking to a well-thought-out pricing strategy can also help you maintain a high Airbnb occupancy rate all-year-round. Start with researching your competitors to price your vacation rental home on a par with them.
Not only should your price be competitive, but it should also cover your expenses to help your business to stay profitable. Savvy hosts suggest changing pricing regularly. The market is always changing. So, why should your pricing stay the same?
Moreover, by modifying your pricing to reflect the spikes and troughs in the demand, you can increase your income. If you change nightly rates regularly, Airbnb pushes your listing to the top of the search results. This way you will increase your listing’s visibility, thus increasing your occupancy rate.
To ensure a continuous influx of reservations, you should continuously work on enhancing the guest experience. In addition to good pricing and communication, guests value good amenities.
Identify your target guests and understand their needs. If you get their needs and expectations right, you can add the best amenities to your arsenal.
To let travelers know that you offer the amenities that they are looking for, update your listing’s description. The next step is to add new professional photos showcasing your amenities in the most flattering way. As the saying goes, a picture is worth a thousand words. So, by putting a spotlight on your best amenities, you can attract more guests to book with you.
If you want to increase your Airbnb occupancy rate, you need to create winning listings. Such things as misleading information, typos, or outdated photos will only drive potential guests away. Your listing should include only accurate information. So, it makes sense to update your listing once you make any improvements to your rental or purchase new amenities.
Another great idea to help you boost your Airbnb occupancy rate is to tweak your listing in accordance with the season. Take photos of your garden in bloom or showcase the coziness of your rental during the winter season. Make your listing stand out by uploading new photos that will resonate with your target guests.
In addition to photos, brush up other sections of your listing to unlock its full potential. Find the top strategies and best practices in our special guide.
Being a responsive host is crucial for growing the number of your reservations. In fact, before making a booking, travelers, on average, consider 8 properties and inquire about 5. It comes as no surprise that hosts who reply promptly get more reservations.
While it may seem like a piece of cake, it’s not always possible to respond as soon as you receive a message from a potential guest. This is where automation comes in handy. By taking advantage of vacation rental software such as iGMS, you can reduce response time and improve your response rate.
iGMS enables you to create and save templates, and get your messages organized within a Unified inbox. In addition to other automation tools and advanced features, iGMS offers automated messages that can be triggered on preset dates and times.
This way you will be able to keep your guests updated with the most important information and instructions at all times.
If you haven’t enabled the Instant Book feature for your listing yet, it’s high time you did it.
Guests want the booking process to be simple and fast. The easier you make it for guests to book your property, the easier it will be for you to achieve maximum Airbnb occupancy rate. Moreover, it can help you to improve your ranking on Airbnb.
If you are still concerned about enabling Instant Book, Airbnb suggests turning on special requirements that guests should meet to book with you. Thus, guests will be required to submit their government-issued ID and have positive reviews from other hosts to book your rental.
Quality customer service matters to your guests all-year-round. As a host, you know that meeting and exceeding guest expectations is essential for receiving positive feedback from your guests. In turn, positive reviews help you secure more reservations, resulting in a higher Airbnb occupancy rate.
Make sure that you always deliver consistent, friendly service. Provide fast and complete answers to any questions that your guests may have before booking and during their stay. By ensuring that every guest enjoys an easy booking experience followed by a safe and comfortable stay, you can receive more 5-star reviews.
Finally, to grow the number of positive reviews, make the first move, and review your guests after their checkout. Then, your guests will be prompted by Airbnb to review you in return. A vacation rental solution with a reviews automation feature can also help you increase the number of reviews. For example, iGMS vacation rental software offers review templates and allows you to publish reviews right via the system.
By employing automation, you can optimize multiple aspects of your business and make your daily operations less time-consuming. If you don’t know where to start, read our comprehensive guide, and discover the best ideas on vacation rental business automation.
Guests should always be impressed by your property. To ensure that your vacation home stands out from the competition, tune it up for a new season. This will show guests that you are dedicated to maintaining your property in the best condition possible.
Refreshing the design of your property shouldn’t necessarily cost you much. A few updates of the décor, new dinnerware for the dinner table, or lighter bed linens will attract more attention from potential guests.
You should also update your photos so that they focus on amenities that people tend to look for during certain seasons. For example, during summer guests can search for properties with a swimming pool or patio. By catering to the needs of your guests during specific times of the year, you can dramatically increase your Airbnb occupancy rate.
Obtaining a Superhost badge can open a whole world of new possibilities. Not only will it help boost your ranking, but it will also help to increase your Airbnb occupancy rate.
To become a Superhost, you should:
Listings of Superhosts enjoy higher visibility and look more trustworthy in the eyes of travelers. If you consistently work on enhancing your daily operations, your efforts won’t go unnoticed. Although a Superhost status requires a bit more commitment from your side, it is totally worth it down the road.
Reaching the highest occupancy rate might not be possible without a solid marketing strategy. Your other efforts can be in vain if you don’t take any action to promote your rental. Nowadays there are plenty of ways to create a buzz for your rental and generate interest from potential guests. The best course of action is to opt for multiple promotional channels to ensure the most extended reach.
Here are some of the best practices that you can consider using to advertise your property:
These strategies will help you to increase awareness for your fascinating rental and ensure a steady influx of reservations all-year-round. Learn more about advanced marketing strategies for your business in our ultimate marketing guide.
Peak season is the time to make the most of your vacation rental business. For many hosts, this is the opportunity to gain their maximum profits, as the demand for vacation homes soars.
However, managing your Airbnb business can quickly become chaotic during peak season if you don’t plan ahead. In addition, peak season may vary from year-to-year, often due to circumstances that are outside of your control.
If you consider how the demand for your listings changes during peak season in advance, you can get ready in advance. Be sure to set up automation software, select your third-party services, and take care of any other tasks that can help you prepare for a high guest turnover.
To make your business go a long way, you should continuously look for new strategies to increase your Airbnb occupancy rate. Keeping your property occupied regardless of the season ensures you have a steady income to invest in the growth of your business. To be able to dedicate your time to scale your business, consider employing automation. iGMS vacation rental software can help you optimize your operations and set your business up for long-term success.
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