Since its launch in August 2008, Airbnb has grown to become one of the leading platforms for short-term rentals and, subsequently, a highly reliable means of income for property owners. With access to more than 150,000 registered users worldwide, reaching potential guests has never been so easy, hence why more and more people are turning to Airbnb as their go–to when it comes to renting out their space. Setting up a profile on the website is easy enough, however there are a few factors that need to be taken into consideration before you start offering your property out online.
Get familiar with the laws in your area
Increases in demand are inevitably followed by increases in regulation, which can put a serious, if not terminal, obstacle in the way should they apply to the area in which you are hoping to set up a short-term rental. Understanding the rules before you make your property available – whether it requires you to register with the local authorities, get a permit, or obtain a license – may be a time consuming process at the start, however it will save you considerable complications further down the line.
Services like Gerald Eve’s London Knowledge offer consultancy on legal matters to property owners, developers and investors to help them determine whether preparing their property for Airbnb is the right decision.
Find a niche
There are an estimated five million spaces currently offered on Airbnb, which means that finding an original quality to set your property apart is more important than if you were advertising it elsewhere. Not only that, there are also many listings on the platform that have built up an established reputation and accumulated countless reviews over the years, making it even more difficult for your new listing to stand out amongst the competition. Finding a niche can help elevate your rental and doesn’t have to mean the offer of 360 degree panoramic views or distinct architectural design either. It can include:
Hire a professional photographer
Other than guest reviews, the most viewed item on an Airbnb listing is the selection of photos. Potential visitors do not tend to give too much weight to descriptions until after they have decided they like somewhere, instead opting to flick through pictures of the property to form their own idea of a place. This means hiring a professional photographer to capture your property in its best light is money well spent,and will more than likely prove to be an investment that quickly pays for itself.
Maintain good communication with guests
Once you have a guest interested in your listing, the next step is to maintain a good level of communication with them in order to inspire confidence. Airbnb is a platform largely built on trust between property owner and customer, therefore being present and quick to respond to guest queries is essential for getting a good review.