How do you make massive money from your short-term rental property?
Are you looking for the most profitable platform for publishing your listings? Here’s your exclusive guide to strategically publish your listing on high-traffic websites to get maximum visibility. Since you already know a smartly managed short-term rental business trumps long-term rental business every single time, here’s a powerful tip on how to turn your business into a mega success.
Minimize the risk: Publishing on different platforms
Do you find yourself biting your nails when opting for the right rental website? Many business owners tend to mindlessly publish on several websites leading to chaos, redundant reservation, and client mismanagement.
Instead of moving the needle they end up digging their own grave! What you should do instead is to target websites that attract host of warm relevant traffic to skim the cream of the crop. As you read on, I’ll share with you the list of top 50 sites that should instantly turn your listing super-profitable.
Before you publish your listing on a website, you should watch out for the kind of traffic that frequents it. Not only the quantity matter but also the quality. For instance, if you want to go mainstream you can never go wrong with Airbnb; it attracts tons of interested travelers who wish to wander the world like a local. Most of the guests who use Airbnb are from different walks of life. Some people who fly during Christmas, or any holiday season, or sports club fans who are visiting for the match or Digital nomads who work while traveling and so on.
Whereas in Home-stay, guests typically are students who go abroad on an exchange program and stay in a shared accommodation. Most of the times, the guests enter in collaborative consumption, in which not necessarily money is exchanged in return of services (also known as barter economy or gift economy). Do keep in mind that when you put out your listing here, you’re ideally sharing your house with a guest and cannot rent it individually.
Why publishing on many listings in never a fully automated process?
Publishing on multiple sites isn’t all that easy. Most websites limit the number of images and words you can use for description. In such a case, the infamous style of copy and pasting does not work. Keep your eyes open for sites that support embedding videos in the listing, because there are publishers that prohibit video uploads. Here’s a tool that digs deeper into the traffic, frequency and commonly used keywords on a website.
How to get more visibility for your listing?
Ideally, your home-website should become the stepping stone to publishing elsewhere. This gives you the advantage of promoting your listing using the keywords that relate the most to your locality. By targeting the search query relating to listing in your area, you’ll attract swarms of visitors. Moreover, you’re not bound by the restrictions imposed by third-party platforms.
Another simple yet a million-dollar tip is to get your listing published on a specialty website. What’s a specialty website?
It’s government board that promotes special interests. Is your house located near a scuba-diving site? Or is your listing close to a golf course? Then in such cases, you can maximize your occupancy and also not have to worry about screening as the most of the guests that you’ll encounter will be certified enthusiast.
How to choose the price when the listing in on multiple platforms?
Alright now that you clearly know how to choose the ideal listing sites, it’s time to take a look at the existing price trend. It is as simple as ABC to get the best rent pay-out.
All you need to do is browse through few of the properties, filter them on the basis of price from lowest to highest. Compare the size and price, then place your property slightly higher, if you’ve got better accessibility and amenity. Otherwise on lower spectrum, if you’re offering a vanilla experience.
Never quote a dirt-cheap price just to jumpstart your business, because you’ll invite trouble more often than not. After all, it’s your business and you must treat it like one by carefully considering the cost of photography, listing fees, set-up cost and hosting charges. Decide on a bottom line price and always, always quote it higher than your total expenses.
Learn the rules of the publishers, because you’re here to make bank. Airbnb is the kingpin of short-term rental business and you’re bound to rake in a lot of profits from here because it does not cost a penny to publish. Another visitor-rich yet tacky-looking website is craigslist that you cannot afford to miss. It is flooded with landlords and tenants, you should let the long-term tenant settle at the bottom to scoop short-term visitor off the top. There are few notable sites that should be on your mind to increase your visibility online.
Manage your listings like Dr. Octopus with this secret app!
As you garner momentum or once the ball sets into motion, it’s time you put your manager’s cap and administer the listing by synchronizing all of them. Wait, what exactly does synchronizing mean in this case? Right! It may sound complex but it’s simple, easy and highly effective.
It’s integrating the reservation across every publisher on a single calendar application. As a result of this, you don’t fall in a soup because you’ll have the calendar pro-actively giving you updates based on the reservation made on various website. No conflicting check-ins, no more infuriated guests.
One last takeaway from this guide before I leave. Listing on multiple platforms may be tempting, but you’re the best judge on which publisher best suits your apartment’s profile. Always read the major terms & conditions before going live on a platform to minimize mishaps.
There are certain sites that take a cut of the listed price for the transaction occurring within the platform which is yet another point to keep in mind while pricing your listing.