Many people want to know if the property they are buying would make a good Airbnb property. However, just because you purchased a property doesn’t mean you can start renting it out for premium Airbnb rates. There are a variety of characteristics that will make a property a lucrative Airbnb. If you understand what people want in an Airbnb, you are more likely to purchase a property that will serve your purpose as a property that demands top dollar as an Airbnb rental property.
The following are the key items that tourist say they want when they are looking for an Airbnb rental:
Choose a Popular Location:
Location is the most important factor in determining if you have a successful Airbnb rental property. You want to choose a location where people are going to be looking for a place to stay. Popular tourist and vacation destinations make a great place to purchase an Airbnb property. Near beaches or in the area where Disneyland or Disney World are located are great choices. Other hotspots like Florida or Hawaii are also great options. The most popular city for Airbnb properties in the city of San Francisco.
Most large metropolitan areas tend to rent well and are worth your investment in an Airbnb property if it’s located in the right area and near main attractions.
Offer Outdoor Spaces:
When choosing Airbnb properties, especially in warmer climates, consider purchasing a property that offers guests outdoor space to gather. Many guests will wish to spend time outside, whether they have a yard, a pool, or just a deck area where they can gather. Summer is a popular vacation time, and the outdoors are popular, especially in warmer climates like Florida or California. A property with outdoor space can be even more appealing to guests.
Consider Sleeping Arrangements:
Choosing a property that can accommodate more guests can attract larger families or groups to your property. Being able to accommodate larger groups allows you to appeal to more clients, increasing your chances of booking your Airbnb and doing more business (thus making more money on your investment).
Consider Allowing Pets:
If you are looking to rent your Airbnb out to families or parties, many will wish to bring a pet or two along to enjoy their trip. Being a pet-friendly location for cats or dogs will attract pet owners to stay at your property. Charging a small (potentially refundable) fee for pets to stay at the property with guests can help mitigate the risk you take allowing pets (who could potentially make messes) to stay at your rental.
Clean Thoroughly After Each Guest:
Be sure to clean the property thoroughly between guests. From providing fresh towels and bed linens to ensuring the kitchen and bathroom are free from signs of previous guests, clean living quarters are essential to attracting good reviews and more paying customers. The effort you put into keeping the property clean now will pay dividends (literally) in the future.
Charging a Fair Price:
Knowing the market prices for an Airbnb rental in the city where your rental is located is key. IF you charge too little, you are missing out on the profit you could make. IF you charge too much, you will lose business to other nearby properties where the prices are fairer. The prices can change seasonally, so you may need to adjust your prices throughout the year to stay profitable and competitive with surrounding properties.
Be a Considerate Host:
Accommodating the needs of your guest is critical to good reviews and repeat business. No matter how nice the property you have is, the reviews that people leave will reflect it if you are a lousy host. Being considerate as a host is as simple as responding to inquiries quickly, offering a reasonable cancellation policy, or even saying “please” and “thank you.” Being accommodating to those who keep you in business can go a long way in making you a successful Airbnb investor.
In the end, you want to offer a good, clean, safe place for guests to stay at a price that is affordable to the client. It’s recommended to focus on larger metropolitan areas or a home near a large attraction like an amusement park or beach if you want the property to rent well.
Being a good host is just as important as offering a property in an attractive location where people want to visit. As you build more positive reviews, more people will want to stay at your rental properties.