Keeping the profile of your apartment updated is only the first step if you want to make Airbnb a reliable source of income
Since its inception in 2008, Airbnb has become an important tool for travelers and hosts, since it allows its users to easily find cheap accommodation as well as earn money by taking advantage of spaces that are not used on a day-to-day basis. However, it is often difficult for hosts to know how much to charge for a flat or how to make their offer more attractive. Below, we present a few tips and statistics.
Leer en español: ¿Cómo y cuánto puedes ganar con Airbnb? Descúbrelo aquí
According to the portal couponshot.com, there are 4 keys to maintain your accommodation on the first page of Airbnb which guarantees greater visibility and therefore makes it more plausible that this accommodation is being used.
1. First, it is important to update your calendar of available dates constantly (including removing certain dates from your availability only to then reopen them). This is because "one of the factors of the algorithm that has most influence on Airbnb SEO is the frequency with which you update your dates and prices."
2. On the other hand, although Airbnb has different reservation modalities such as those through the form, which must be validated by the host before finalizing the application, direct reservations without the need for approval give a higher score on Airbnb, since users are more interested in the simplest processes.
Additionally, the forms through which the hosts must validate non-direct reservations expire 24 hours after the reservation is requested, then, if you cannot be reviewing your host profile every day, you will probably lose customers if you have this booking method.
3. It is also profitable to offer short-term reservations, even for a single day, as many of the people who use Airbnb plan short stays.
4. Finally, it is important that the accommodation file shows the maximum possible information, not only about the accommodation but also about what can be done nearby and the means of public transport that allow users to get from your accommodation to the main tourist sites of the city. In addition, increase your offer of services including things like washing machine, WiFi, or parking; they will allow you to increase the profitability of the apartment, because these services are usually not used, but you can charge more for them.
How much to charge?
On the other hand, to know how to make your accommodation more profitable was created Eliot & me platform which calculates the price for which you can rent your accommodation depending on your location, the number of places for guests, the number of rooms and the number of bathrooms. In addition, this platform also recommends the most profitable seasons according to the events in your city and the weather.
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We consulted the platform in different Latin American cities and discovered that on average (although this can vary by specific areas and seasons), an apartment with a bathroom and a bed for two people can be rented for 64USD per day in Bogota. However, the highest profitability occurs in November, December, and January because of the increase in supply, and apartments with terrace and outdoor spaces, can be better used in March (being the warmest month) and in June and July for being the least rainy months.
- For an equal floor can be charged 68USD in Buenos Aires, and in March and April it is possible to charge 25% more because of the Easter holidays, low rainfall and temperate temperatures.
- In Mexico City, an average of 75USD is charged for a flat of this style, but this is the most profitable city between December and January, since the excess demand allows to increase prices between 100 and 150%.
- In Lima, the average price is 36USD and in the second half of January sunny weather allows prices to rise by 50%.
- Finally, the most profitable city to put a flat for rent is Panama City, where you can charge up to 193 USD per day, in addition, this possibility of charging remains stable throughout the year.
If you want to make money with Airbnb without having to rent your flat, Forbes tells us that now this platform is no longer just for rentals. During the last Airbnb Open conference in Los Angeles, the company announced its plan to become a more comprehensive travel company.
The first step for this is the tool called "trips" that can already be found on the platform. Here the venues can offer all kinds of cultural experiences and tours which, to guarantee safety, are evaluated by the Airbnb staff before being offered to the public.
According to Forbes, "this is also a radical change for the company in that it opens a new opportunity for people who do not receive guests in their homes to participate and make money from the platform. In addition, one of the most intriguing aspects of the experiences is that you can now use Airbnb to connect with travelers and get extra money from them, even if you do not share your home with them".
LatinAmerican Post | Sofía Carreño
Translated from “¿Cómo y cuánto puedes ganar con Airbnb? Descúbrelo aquí”
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