According to ZipRecruiter, the average Airbnb owner makes over $130,000 per year renting out property.
If you want to be a top Airbnb earner, you have to rise above the local competition. Milwaukee has a great tourism industry and there are always plenty of visitors looking for vacation rentals, but you need to appeal to them and build your reputation as an Airbnb host.
Today, we'll give you some Airbnb management tips that should help you set your rental apart from the others. There's a lot of information out there about how to run an Airbnb properly. Keep reading, however, and we'll boil it down to make it simple and clear for you.
Showcase Your Property in the Best Light
When you're starting your journey as an Airbnb owner, you'll be at a disadvantage to your competition. Renters are always going to look at the top-rated units so that they know they're working with an experienced host.
To combat this, you need to showcase your property as best you can. Hire a professional photographer, stage the home, and write a thorough property description that includes information about the amenities and the surrounding area. The more information you provide, the easier it will be to book your unit.
Pricing your Airbnb can be tricky. You always want to get as much as possible to increase your profits, but you don't want to go so far as to hurt your chances of getting bookings.
This is where you can look at the competition to see how similar rentals in your area are priced. Given what you're providing, try to price your Airbnb fairly - even affordably - at the start to drum up business. Once you get a sense of how it all works, you can boost your prices so the unit is more profitable.
Prioritize Guest Services
A successful Airbnb prioritizes customer satisfaction. While people are occupying your rental, make sure they have everything they need, whether it's fresh towels or coffee in the cupboard. You also need to be available to take care of any issues that may or may not arise during their stay.
If you're an absent host, your guests will be left wanting. If you're an overzealous host, your guests may feel uncomfortable. Strike the right balance between being attentive and relaxed, and your guests will give you a good rating.
Maintain the Unit
Every vacation rental property goes through an inordinate amount of wear and tear with so many different groups coming through. It's important to stay on top of maintenance after every Airbnb booking to keep your rental functioning and comfortable.
Think about it as an investment and the cost of small repairs and cleaning won't feel so bad. Maintenance goes a long way toward protecting your investment.
Professional Airbnb Management Perks
Owning a vacation rental property doesn't mean that you have to do all of these things yourself. You can always hire Airbnb management to take the burden of creating listings, taking care of guests, and repairing the unit off of your shoulders.
PMI of Greater Milwaukee is a top Airbnb property manager in the area. Contact us today to learn more about our services and how they can help you run a successful Airbnb.