A lot of people today are using Airbnb. In fact, it is a growing business. There are over 3 million listings worldwide. And if you will look at the numbers, around 11% of adults in the US have tried using Airbnb and similar websites. The fact that it is so popular today, many homeowners are actually looking to turn their home into a growing business. But is this really a good idea considering the number of things that could happen to the property?
There are many drawbacks that you have to anticipate if you are going to be a host. Steve Barbarich Airbnb provides some of the best options out there. However, before you even follow the same formula, it is a good idea to understand what to expect from this industry.
Not Getting Fully Booked
If you are expecting that you are going to have a fully booked month all the time, then you are completely mistaken. There are some properties that are actually lucky if they can fill up even half of the month. Do not be frustrated if this is the case. This is expected from the travel industry. Expect the peak days and expect the weekdays.
The good news is that there is something that you can do if you encounter a week month. You can adjust the price for your guests. You also want to engage in different types of marketing efforts and not just rely on your potential guests to find your property. You can make use of Facebook and even have your own site. Here, you can showcase what makes your property standout compared to the other Airbnb properties.
Cost of repairs and renovation
You also have to anticipate the need to pay for renovation and for the repairs. A home that functions as an Airbnb means that it should be perfect for the guests that are planning to stay. It is important to check every detail from cleanliness to the functionality of the home before you have it rented out.
Not getting the reviews that you want
Keep in mind that there will always be guests that are hard to please. You can avoid this scenario by making sure that they are comfortable in your property. Also, take the time to screen who you are going to take inside your property. Also, you don’t want to get a guest mainly because he or she is willing to fill your rooms. You want to also check the background and the profile of the person. You want to make sure to not accept guests that have red flags written on their profile.
If you are going to have an Airbnb property, there are some things that you will have to know. One of which is that it isn’t actually as simple as you think. It requires a lot of effort in order to please your potential guest. And lastly, it takes a lot of money in order to run your business. You will have to spend on renovations as well as on maintenance.
