Why Monetize Your Property Using Airbnb
The why’s and how’s of using Airbnb for the Filipino entrepreneur
Many Filipinos today make use of Airbnb as it is easy to use, raises the total monthly rate, and keep tabs on tenants. That is why we listed the reasons why YOU should consider Airbnb and how to start earning from it.
Easy to Use
Airbnb is an app that can be downloaded on your mobile phone or accessed through your personal computer. With this, it is easy to respond to potential tenants right away. Using it is made easier by their user-friendly interface that would basically walk you through the process. Here’s how:
- Sign up as a host. Click here to sign up.
- List your property. If you don’t know how much you should rate, there is a suggested nightly rate in the app based on your location, number of rooms, and amenities. Here, you can also list available dates when your place could be rented out.
- Describe your space accurately. Your goal is to up the good reviews and ratings. And also, to encourage the market to book your place instead. Hence, you don’t want to put up your guest’s expectations just to leave them disappointed.
- Inform through quality photos. The photos are your tool to win the market. Make sure that it would highlight the benefits of the property, but is not deceiving. How to do this? First use good lighting, or as much as possible, use natural light. Dark pictures are 67 percent less likely to attract people than the good quality ones. Second, show the spaciousness of the rooms and the view from outside through the photos. Third, remove clutters. Lastly, show corners that may create an adverse reaction from visiting guests, or at least inform them (ex. Dirty corners).
Raises the Total Monthly Rate
Since the rate is daily, there is potential to raise your monthly income 2x or 3x to that of long term tenants. Plus, there is less commitment so it is more likely to find interested travelers.
Keep Tabs on Guests
The app allows the guests to place a review on the hosts that they visited, likewise, hosts could place a review on the guests who booked their place. This means, as a host, you can choose quality guest who treats their visited places with respect. But in case of theft or broken appliances, Airbnb insures up to $1,000,000.
While using Airbnb on your property may be easy, double or triple your income, and filter tenants, there are downsides. Some of these downsides are the maintenance of the property in between tenants (cleaning, fixing of appliances, etc) and managing tenants (answering of inquiries, payments, etc.). One option for these is using applications that help you with the work. Another good option is enlisting your property to companies who specialize in Airbnb monetization, where you can just sit back and enjoy the fruits.
By: Jel Vinculado
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