Maximise Profit & Efficiencies: Air BnBs & Holiday Lets

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Whether your property is listed as a private room or an entire place, it’s important to streamline processes and actions to help you squeeze every penny out of your investment.

From the everyday stuff like the colour on the walls and the coffee table’s positioning, to investing in building management software – a super tool that can help track and record your energy consumption, maintenance schedules, and security systems all from one centralised platform – it can pretty easy to miss opportunities that will help manage your Airbnb more efficiently.

If you’re looking to improve your efficiency as an Airbnb manger, here are a few things to consider.

Manage your holiday let with property management software (Image: Andrea Davis/Unsplash)

First Impressions

They say you should never judge a book by its cover however people form first impressions within the first seven seconds of seeing something.

This means that the way you present your listing will have a huge impact on its performance.

Pictures

People looking to rent an Airbnb will largely make their decision based on the pictures provided by the property owner.

Try to make sure all the rooms are well lit and immaculately clean and uncluttered, nothing will put people off like a mess.

Try to capture the rooms from the corners or doorways to ensure they seem as big as possible. Don’t include too many useless pictures, and try to avoid repeats.

If this all feels overwhelming, then that’s okay. In fact, Airbnb actually offers a professional photography service.

Pricing

Price your accommodation too low and you could be missing out on potential extra earnings while pricing it too high will leave you with no booking whatsoever.

A great way to get a good idea of price is by checking the properties in your area. This will allow you to match your price with similar properties, and even beat the prices of ‘premium’ properties nearby.

Listing Description

Keep the listing description light and informative so more people to engage with it. Be mindful that packing too much information in can be off putting.

Avoid spelling mistakes and break up the text to avoid a large chunk of text for readability on mobile. Get someone to look over and edit your description can be incredibly valuable too.

Efficiency is Key

One of the crucial elements that is frequently overlooked by people looking to utilise their properties fully is the time element. It’s super easy to list your property, get some great pictures, write an awesome description and away you go!

Managing a property can take up a lot of time, which eat into your profit margins. Whether you are using property management software to handle data or just doing everything yourself, there are three key elements to grasp in order to maximize your efficiency.

Organisation

If you work full time and rent out your spare room to visitors, then cleaning and making beds in your down time could quickly become a drag.

Make sure your cleaning supplies are stocked up and easily accessible. Keep track of linens and deliveries with a well organised store cupboard that has clearly labelled areas.

If you use cleaning companies, laundry services and maintenance teams, try grouping them all into one space and empowering your teams to be as efficient as possible. Time is money.

Preparation

Backup your cleaning supplies and products to ensure a swift turn around between guests.

Creating a check out list for guests to follow when they leave is a great way to save time. This way, the property will be left in the right state for the cleaning team to immediately begin work, saving an incredible amount of time after several changeovers.

It’s The Little Things That Count

If you have a unique property with interesting features, then lean into this. Airbnb is known for its quirky, idiosyncratic properties and you may be able to charge more for your space.

Filling an area with collections, or theming rooms can be a great way to generate interest and keep people talking about your property too.

Extras

If you have any special skills, then offer people experiences and lessons. Woodworking, pottery, interior design - these can all be used to create saleable extras experiences during someone's stay.

Every successful Airbnb is unique and interesting, and the hosts can be a big part of that. Don’t be afraid to express yourself and offer your local knowledge and insight as a guide.

If you partake in any sports then offer your services as a coach, or simply create a local restaurant guide for your guests- going the extra mile can really make the difference in the reviews.

Tailor your Property to your Target Audience

If you are in the city centre, then decorate your Airbnb with local goods and art.

Include a leaflet or information area where your guests can find out what’s happening nearby, or where the best museums and galleries are. Try to provide workspaces for people who will work during their stay.

If you’re near some of London’s incredible parks then create running routes, point out private swimming spots and gorgeous dog walks.

Help your guests out with bike rentals, or see if you can wrangle a deal with local shops – If you make it as easy as possible for people to enjoy their stay, you will get good reviews.

For more information, visit lumiformapp.com

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