Robert High Hawk said:BoneDaddy said:SNIP
Another issue is that the competition on the short-term rental platforms has gotten fierce in popular areas. If you post up a listing with zero reviews, how are you going to compete with all the other listings with dozens of five-star reviews, professional staging, photography and decor? That's the reality of the market right now.
So true. If you want to make money with AirBnB you need to be DIFFERENT. You have to have some kind of property that is unique and distinguishable.
Think way outside the box here. There will be DOZENS of condo's apartments 1&2 bedrooms available with EZ check in and fast wifi.
How about an RV that you lease with a awsome (and safe/quiet/secluded) parking spot/hookup that you also lease? That's just something that literally is off the top of my head. Maybe retarded and undoable, maybe a huge potential there. Convert an old schoolbus maybe? (actually I'm going to look into the economics of this immediately following this post)
In my area, unless you have a ridiculously high end place with awesome location, you won't be standing out. OR you are original. Some dude with a literal shack/tree house cleans up and charges good money because it has a nice view and it's fun and quirky to stay there. Nobody else in the area provides that kind of experience, so it stands out.
One easy way to stand out is being able to accommodate lots of people.
The minute a large group (think bachelor party) gets together for a trip, they start looking at large AirBnBs were they can ALL stay. And they will pay a premium for this kind of space. Bridesmaids groups. Family groups for weddings, etc... Not many places can accommodate more than 4.
Anyway, that's how it goes these days. Very tough market, lots of rules, stay ahead of the game and be original as heck to get your place to stand out to people searching for it.
Could not agree more. Your post is absolutely on point. I've been at this for a while now and still doing very well, but always looking for ways to raise the bar and stay ahead of the competition.
Every hot destination has lots of beautiful, clean properties and differentiation is key. All of mine are detached single family homes, so looking for things to rise above the noise. Possibly turning an unused space into a game room. Maybe half sports bar theme, other half Legos for the kids of all ages. Maybe bar + vintage arcade games. Perhaps additional outdoor spaces, fire pit and outdoor kitchen.
Would be great to kick some ideas around if anyone is interested.