If you're looking for a way to make some extra money, consider running a series of Airbnb properties. Airbnb has taken the world by storm, and there is no doubt that short-term rentals are a profitable real estate investment. However, it can be time-consuming if you try to manage everything yourself. That's where a property management company comes in. You can hire a property management company or manage your own series of Airbnb properties. Either way, Airbnb hosting is an easy and fun way to make money, or you can even turn it into a full-time business. This blog will cover everything you need to know about running multiple Airbnb properties and how you can effectively market your Airbnb accounts.
What is Airbnb?
If you're unfamiliar with Airbnb, it's a vacation rental platform that allows homeowners or property owners to list their properties for short-term rentals. You can think of Airbnb as an online marketplace for vacation rentals. Airbnb has become extremely popular in recent years and is now one of the most popular ways to find vacation rentals. It's popular with tourists looking for a personal touch on their vacation rentals and those wanting a homier feel while exploring. If you have a property that's not being used, listing it on Airbnb is a fantastic way to make extra income. There are rules and standards in place when you set up your Airbnb account, especially if you have more than one property.
Airbnb Rules and Regulations
You'll need to agree to their terms and conditions when you set up an Airbnb account. This includes having your property meet their requirements for safety and cleanliness. You'll also need to describe your property and photos. Once you've created your listing, potential guests can contact you to inquire about renting your space. You can set your own price and availability for your property. You can also add additional services, like a cleaning fee if you'd like.
For hosts with multiple listings, there are several ways to go about managing them. However, Airbnb rules do state that one host may not have more than one account on the site and that those with more than one listing should use a single account. Why does this matter? Well, Airbnb accounts are what are used to rank the properties for potential guests to find. They monitor accounts by using IP addresses, so it's not easy to sneak by that rule. Having multiple accounts would increase the chances of your house showing in search results. Despite their rules, the risk of having multiple accounts is that your accounts could all be banned.
Property Management for Airbnb
As we mentioned, running multiple Airbnb properties can be time-consuming. If you're not interested in managing your own listings, you can hire a property management company to do it for you. An Airbnb property management company will take care of everything from pricing and availability to listing your property and responding to guests.
A property management company will also handle the check-in and check-out process for your guests and any cleaning that needs to be done between guests. This is a great option if you want to be hands-off with your Airbnb business but still make a profit.
Several property management companies specialize in managing Airbnb properties. Doing a quick search online will give you a list of potential companies to work with. When searching for a property management company, be sure to read reviews and compare pricing. Some companies will only handle the physical property maintenance; others will also take care of marketing your property to potential guests. Communication is key to a successful relationship between homeowners and property management companies. Ensure that your expectations are clearly communicated and that you fully understand the depth and scope of their services.
Another option is to find a co-host. A co-host is someone who helps you manage your listing, but they don't technically own the property. This can be a great option if you're not ready to hand over the keys to your property but could use some help with the day-to-day tasks of running an Airbnb business. A co-host may have many jobs when it comes to managing your property. They may be responsible for cleaning and upkeep, while some are solely in charge of marketing and listings. Be sure to establish trust with your co-host. You don't want to turn over your keys to someone you don't trust.
Things to Consider When Running Multiple Airbnb Properties
You'll want to keep a few things in mind when running multiple Airbnb properties, whether you're managing them yourself or hiring a property management company.
The first is occupancy. You'll want to make sure that your properties are consistently booked with Airbnb guests so that you're making a profit. Having more guests more often will result in your property being fully occupied as well as generating extra income. One way to do this is by offering discounts or package deals for those looking to stay at multiple properties.
Another thing to consider is seasonality. If you're in a location that experiences a lot of tourism, you'll want to ensure your property is available during those times. However, if you live in an area with less foot traffic, you may want to consider only making your property available during the peak seasons.
You'll also want to make sure that your property is appealing to potential guests. This means having quality photos, a detailed description, and great reviews. If you're not getting many bookings, take a look at your listing and see if there's anything you can change. You may also want to consider lowering your price or offering discounts.
You'll also want to make sure that your properties are in good condition and are well-maintained. This includes regular cleaning and repairs and seasonal maintenance like landscaping and snow removal. Your Airbnb listing with the property's condition should be as up-to-date as possible.
Your property should run smoothly. This means having a system in place for things like guest communication, check-in and check-out, and cleaning services. The last thing you want is for your guests to have a bad experience because of something that could have been easily avoided.
Finally, you'll want to consider your Airbnb guests' experience. This includes everything from the initial contact and booking to their stay at your property. You'll want to ensure that you're providing clear communication and instructions and a clean and comfortable space for them to enjoy.
Airbnb Automation and Vacation Rental Software
There are a few ways to automate your Airbnb business, from using a smart lock to having vacation rental software. Automating your business will help you save time and money and provide a better experience for your guests. Airbnb recommends a few features and tools that will help you manage multiple properties, like a Pro Marketing page which is where you can group together listings and showcase them all under your single account. They also offer tips for homeowners who run multiple properties, like using a bulk edit feature to update your listings all at once.
A smart lock is a great way to automate your guests' check-in and check-out process. This means they'll be able to access your property without meeting you in person or fumbling around with a key. This is especially helpful if you have early or late check-ins. Smart locks cost around $200, but they're an excellent investment if you're running multiple Airbnb properties.
Another way to automate your rental business is by using vacation rental software. This type of software will help you manage your listing, pricing, and calendar. It can also help with things like guest communication and automated cleaning. Vacation rental software typically costs between $50 and $100 but is well worth the investment.
AirDNA is software that compiles data from Airbnb and other vacation rental sites to help you make informed decisions about your business. It offers insights on things like occupancy rate, seasonality, and average daily rate. AirDNA costs $99 per month. You can use AirDNA to see how your rental is performing and get insights into your area's rental market. This is one great way to automate your property management because it takes the guesswork out of your listing goals.
MashVisor is another software that offers similar insights as AirDNA, but it's a bit cheaper at $69 per month. It's one way to monitor your property and keep up to date with analytics. MashVisor also offers a free 14-day trial, so you can test it out before committing to anything.
Automating your business will help you save time and money and provide a better experience for your guests. While running a successful Airbnb business without automation is possible, it can be time-consuming and expensive. If you're running multiple properties, we recommend using a smart lock and vacation rental software to help you manage your listings and guests.
Marketing an Airbnb Rental Property
The first step to marketing your Airbnb rental property is to create a listing that stands out. This means having great photos and a well-written description. You'll also want to make sure that your price is competitive. Using SEO (search engine optimization) in your listings is one way to make sure your target market finds your properties. SEO keywords are words or phrases potential guests and renters are searching for when looking for a place to stay. You should include these keywords in your title, description, and tags.
Once you have a great listing, it's time to start promoting it. Social media is one way to promote your property. You can create a Facebook page for your business and share your listing there. You can also use Instagram to promote your property. Use hashtags, as well as location tags, to make sure potential guests can find you. You should also consider creating a website for your business. This is a great way to showcase all of your properties in one place.
You can market your Airbnb rental property by getting involved in your local community. This can be done by attending local events and partnering with other businesses in the area. For example, you could partner with a nearby restaurant and offer a discount to guests who stay at your property. You can also list your property on vacation rental sites like VRBO and HomeAway.
Another great way to market your Airbnb rental property is to become a Superhost. This designation is given to hosts with high ratings and positive reviews. Superhosts get more bookings, so it's something to strive for. You can become a Superhost by providing an exceptional experience for your guests, being responsive to their needs, and going above and beyond expectations. For more marketing tips for Airbnb rentals, check out this previous post about Airbnb marketing.