Your property's Airbnb occupancy rate is perhaps the most critical factor in your vacation rental business. The higher your occupancy rate, the more you can earn from your rental property during a specific period.
However, Airbnb optimization to boost your occupancy rate isn’t easy — it takes more than just a listing on Airbnb. To help increase your occupancy rate, we’ve compiled a list of several strategies that will lead to more bookings for your vacation rental.
Location, Location, Location
If you are a novice investor, the first thing you need to look into is where you can buy an Airbnb investment property. Real estate investing is a fast-paced business, so you need to get started quickly. You should look at the availability of properties within a reasonable range of your hometown or city of choice.
First, check if there are any seasonal monthly limits on how many days you can rent the property out and how far in advance you need to do it. Seasoned investors recommend buying rental properties in cities with no seasonal limits. This way, you will be able to rent it out for most of the year.
Finally, check local regulations to ensure your actions comply with local laws. This will help you avoid legal troubles and fines while improving your Airbnb optimization.
Once you’ve determined the right location, you can price it correctly. Don’t set premium rates for a vacation spot in the middle of the desert, and don’t set cheap rates in communities accessible to amenities.
To maintain a high Airbnb occupancy rate all year round, you should consider your pricing strategy. Start with researching your competitors’ prices to determine how you should price your vacation rental home.
Your price should be competitive, but it should also cover your expenses so that your business remains profitable. As a rule, savvy hosts suggest regularly changing their properties' nightly rates. The market is constantly shifting, so why shouldn’t the price?
Moreover, by modifying the rate to reflect the spikes and troughs in demand, you will be able to increase your income. If you change the rate of your listing every week or so, it will be highlighted in the search results. This will increase your Airbnb optimization and occupancy.
Highlight the Amenities
Speaking of amenities, promote them heavily to ensure a continuous influx of reservations and a continuously-enhanced guest experience. This includes reasonable pricing and communication and amenities that guests find pleasant.
If you want to know what your target guests are looking for in an Airbnb, you should set up a profile for them so that you can get their needs and wants. If you can identify their needs, you will be able to find the best amenities to offer.
Once you know what your target guests are looking for, you will be able to update your listing’s description, which is the first thing they see. Then, you can add new professional photos of your listings featuring those amenities. They are what will draw more guests to book with you.
To Be Concluded
This is only part one of our Airbnb optimization article, so head on to part two if you want to learn more about boosting your listings, visibility, and ranking! Remember that you need a good location, which will dictate the price based on the surrounding amenities your property is based in.
But, if you’re ready and eager to learn more about how to maximize your Airbnb optimization, click the link to join me at BeyondBNB.io for my next free training event. I'll detail how we've helped hosts increase their earnings by 112 percent! What are you waiting for? Join now!