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Earn More with These Airbnb Rental Strategies

By: Elite Legacy Education, June 28, 2017

Airbnb offers a unique opportunity for people around the globe looking to generate an additional source of income. It really opens up the world of real estate investment to more people than ever before. Namely, the fact that you don’t even need to purchase another property has much to do with this. You can simply rent out an extra room in your house on a per night basis. With that said, let’s get into more detail about all of the rental strategies available to Airbnb hosts.

 

Different rental options you can offer.

 

  • Shared Rooms – Starting with the least elegant of offers, you can provide a shared room. These rooms usually contain multiple beds that may be occupied by other guests, or a room that other people have access to. This can be as simple as offering up a pullout couch in your living room. Of course, shared rooms usually provide the least amount of income.
  • Private Rooms – The next step up is to offer a private room. Whether it has access to a private bathroom or not is up to you. Often, people expect to share amenities when reserving a private room unless otherwise specified.
  • Entire House or Apartment – The most private of all options is to offer an entire house or apartment. In this case, the property is completely separate from the host’s own residence. This is also the most expensive type of listing on Airbnb.
  • Multiple Units on One Property – This option combines any of the three above, though it usually applies best to the second option of offering private rooms. Often times, Airbnb investors have many private rooms available at a single location with shared amenities (i.e., kitchen, bathrooms or showers).

 

Additional tips for whichever strategy you’ve chosen from above.

 

  • Get creative with the name of your listing. Feel free to name your accommodation like a resort, hotel or retreat. This can make your listing appear to be more fun and legitimate to potential guests.
  • Use property listing descriptions to your advantage. Highlighting attractions in the area and reassuring guests about the safety of the neighborhood can help attract more visitors.
  • Leverage nearby attractions. Whether in the title or description of your listing, try incorporating elements of nearby attractions. This too can help to appeal to new visitors that are familiar with the attraction.
  • Provide additional services. Offering additional tourist services to generate even more income is a great idea for Airbnb hosts. From food to different kinds of equipment rentals and so on. All of this helps to further monetize your listing. In some cases, you can even set up agreements with local tourist attractions where you earn commissions from referring your guests.
  • Share your local expertise. Providing expertise about the local area is always appreciated by guests. This includes giving tips about what to do and even offering free brochures. Guests love learning about the community through inside knowledge from its locals. Help to improve someone’s trip by pointing out the hidden gems in your community.
  • Speak a common language. Being able to communicate in a common language with your guests can go a long way. If you need to, try using Google Translate for this. Your guests will appreciate being able to communicate with you especially if they speak a language that is not native to your home country.

 

Ultimately, the more you help your guests to enjoy their stay at your accommodations and the surrounding community, the more likely it is that they will leave a positive review. And remember, guest reviews are an essential part of Airbnb since people are more likely to visit places that have been verified by other travelers. Anything you can do to help improve your guest’s travel experience will help you in the long run.

 

Today's market is filled with many opportunities for the savvy investor. Our Elite Legacy Education trainers will introduce you to proven strategies that can help you launch your career as a successful real estate investor.

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