Category: Hosting Tips

[2023 Edition] The Complete Airbnb Furniture Checklist + Printable PDF

Post author By Delia Valdez
Post date January 7, 2022

Airbnb Furniture Checklist is a complete guide that will provide you with useful tips and a complete checklist to get started on your Airbnb listing’s furnishing journey.

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Airbnb Furniture Checklist is a complete guide that will provide you with useful tips and a complete checklist to get started on your Airbnb listing’s furnishing journey.

October 6, 2023

There are a few steps that Airbnb hosts need to complete before posting their short-term rental listings on platforms. In this article, we’ll talk about staging and furnishing, which are both important parts of the amenities that will be offered.

Think about how this will impact your revenue and rating on platforms like Airbnb. We know that furnishing can be a nerve-wracking process, but we are here to help!

While it’s important to think of the factors to consider when furnishing a property we’ll also give you tips to make the best decisions possible and we’ll even include a FREE Airbnb Furniture Checklist PDF (printable) so you can track your furnishing progress.

Factors to consider when planning to furnish your property

1. Budget

The first important step is setting the budget. By writing down a minimum and maximum amount and then analyzing a reasonable amount to spend on this task, the next steps will be easier.

Our suggestion is: don’t skimp too tight but don’t splurge too high either! Not all your pieces of furniture have to be brand new and high-end. There are stores where you can find beautiful and cheap second-hand furniture.

According to other hosts’ experiences, furnishing a 1 bedroom apartment cost around $5,000 to start with. This includes furniture, decor, and other amenities. If your property is much bigger than that, then, you can estimate about $1,000 per bedroom.

If we’re talking about an entire house property type, let’s increment the budget to $6,000 for the house and $2,500 per bedroom. These price tags can vary with the size of the property and how you plan to style it.

2. Styling

When it comes to designing a place, you should not only think about the individual items but how they all come together. You can also visualize these pieces against different flooring or wall colors.

There’s no need to go over the top with every room. You don’t need fancy items to set up. There are simple themes and color combinations that work well.

Styling a room is not a job that everyone can do. If decorating is not your cup of tea, you can hire a professional interior designer/decorator. But doing so means you’ll have to increment your budget depending on your preference. Another suggestion from hosts is to ask a real estate stager if they’re willing to do it for you.

3. Property Size

If your property has a very reduced space, don’t worry! There are still creative ways to furnish and style it.

In this case, you can either request the help of a professional designer or do it by yourself. There are some resources like YouTube videos you can use for inspiration.

Make sure to take the measurements and dimensions accurately, especially if you plan to buy furniture online so you don’t end up with the wrong size.

4. Identify your audience

When you understand your target audience’s needs, you’re at a great advantage. This means you’ll be able to fulfill them with success and provide an exceptional guest experience.

For example, families with children will appreciate high chairs, diaper-changing stations, and a playground with some toys and books.

Business travelers and remote workers would love an office place with free WiFi, a dedicated office table, and a printer they can use.

Similarly, couples looking for a getaway place may like a sofa bed for more comfort, a hot tub, and the like.

If you’re setting up your first listing, ask your local host community what kind of guests they usually attract and what kind of listing they offer.

If you already own an STR and have experience in managing it, investigate your previous and future guests. This will help you find out what kind of people they are, what brings them to your area, and have an idea of what they are looking for.

5. Timing

Similar to other projects, furnishing and staging your listing should take a certain and reasonable amount of time. When planning this task, it is best to make sure to have a timeline.

To achieve this, you can make a schedule and assign 1-3 days (which can vary depending on size, theme, and state of the room) to every room on your property.

Setting this schedule will help you focus and prevent you from overthinking every detail and going over your budget.

This means it should take 1-3 days to plan one room. Once you have it all planned out, you start with the next one. This doesn’t mean that you need to have all the furniture within 3 days, but those days should be allocated to select, buy, and collect the needed items.

You can start the staging once you’re in the buying stage or at least 60% done.

The ideal time to finish this task would be 2 to 3 weeks. Once again, this depends on many factors but you can aim to finish it as soon as you can.

Ideal furniture for your listing

1. Entire House / Condo / Apartment

Living Room

Furniture (Average $819)
- Sofa ($286.95)
- Armchair ($125.99)
- Coffee table ($129.99)
- End Table ($84.95)
- TV rack ($59.98) | TV wall Mount ($27.47)
- Bookshelf ($68)
Appliances (Average $630)
- Lamp ($30.98)
- Smart TV ($297.49)
- AC ($314.99)
Decor (Average $326)
- Painting ($11.47) | Pictures ($1.49)
- Wall decor ($28)
- Curtains ($20 per panel)
- Rug ($35)
- Fake Plants ($159.99)
- Decorative Ceramic Set ($35)
- Figurine Set ($15.96)
Office furniture and appliances (Average $2,068)
- Desk ($174)
- Chair ($290)
- Computer ($1,299)
- Printer ($229)

We usually see the living room as a resting area or a venue for reunions. So the best advice we can give out is to keep it simple but cozy.

When selecting the sofa and armchairs, take into consideration the materials, how much weight they support, quality, and the like.

We recommend you get a smart TV, depending on your preferred size. However, guests will appreciate a smart TV with streaming services available for them.

In case you’re setting up the office space, make sure to do it in a place where there are a lot of electric outlets available and very close to the WiFi router.

DINING ROOM

Furniture (Average $1,145)
- Dining Table & Chairs ($694.25)
- Cabinet ($99.99)
Decor (Average $130)
- Painting ($14.99)
- Wall decor ($99.99)
- Fake Plants ($32.98)
- Decorative Vases ($29.99)
- Placemats ($19.99)
- Coasters ($9.99)

It can also depend on the space you have available, but a six-seater dining table sounds reasonable. If you can do a four-seater, that is good as well.

In case you find more space in your dining room after placing the dining table, there comes the cabinet. It’s just optional yet cute, simple, and adds personality to the room.

Placemats and coasters are a must and you can find them in any shape and color. They help a lot with the maintenance of your bare table or tablecloths (if you use them).

KITCHEN

Appliances (Average $1,730)
- Fridge ($989.99)
- Microwave Oven ($72.99)
- Range Oven ($989.99)
- Coffee Maker ($89.99)
- Kettle ($29.99)
- Toaster ($27.99)
Tableware
Kitchenware

There will always be guests who’ll struggle to operate your appliances. Your work will be easier if you select the easiest one to use. You can also place easy-to-follow instructions on some appliances like the coffee maker, toaster, kettle, etc.

Not all hosts like to provide kitchenware and that’s fine. But it’d be really thoughtful of you to offer them, guests will love the gesture! Since these are items that get easily damaged, make sure to get the affordable good-quality items but replace them every 5-8 months on average.

Toilet & Bathroom

Essentials
Decor

People often forget to put the same effort into decorating and setting up the bathroom as in other rooms. Bathrooms are an important part of your listing: if it doesn’t look nice and clean, guests surely won’t like your listing at all and won’t come even back.

Offer the essentials for a reasonable amount, let’s say 2 towels per guest and 3 toilet paper per stay, depending on the length of stay.

Getting a new mirror, toilet seat, and shower head is optional. But it would be best if you could replace the already existing ones with new ones if these have +2 years of use already.

Bedroom

Furniture
- Bed: Headboard & Mattress
- Dresser
- Night Stand or Side Table
- Arm Chair
Appliances
- Lamp
- TV
- AC
Decor
- Mirror
- Curtains
- Painting
- Wall decor
- Fake plants
- Decor items: decorative ceramic or figurine set

The type of bed depends on the number of bedrooms you have in your listing. For the master bedroom, hosts usually select a king-size bed. For the second and third bedrooms, they usually select a queen size; this also depends on what you’re doing for the other bedrooms, a normal bedroom or a kids’ bedroom.

The dresser doesn’t need to be big but you’ll be good with a medium size. It won’t be used often but it gives more life to the bedroom as decor.And in long-term stays, guests may get to use it.

TV is also optional. They’re more common in the master bedroom only.

The decor is super important. The bedroom is a place to rest and the atmosphere should be light and easy stay in for a long time. Think about the colors you’re going for and the amount and theme of items you’re getting for decor.

Studio Apartment

Since the space in a studio apartment is much more reduced, I’ll be making a checklist separately where we can list everything it can fit.

Living room furniture and appliances

A single armchair should be enough in order to not take up so much space and provide another place to rest aside from the bed, the coffee table is not necessary.

Dining Room / Kitchen furniture & appliances

Dining Table (2 or 4 seaters)
Mini Fridge
Microwave oven
Electric oven
Ceramic cooktop (2 or 4 burners)
Coffee maker

Tableware & Kitchenware

Looks like a lot but you can accommodate all of this in a single kitchen space, 4 of each tableware item and 2 of each kitchenware item will work fantastically.

Office furniture & appliances

As we mentioned before, make sure to have a multi-outlet extension and the WiFi router very close to this area, guests will appreciate it.

Bedroom furniture & appliances

If the bed takes up a lot of space then you should consider a Murphy bed, some of them can have a sofa underneath or a built-in closet on the sides.

Bathroom Essentials

General

Tip: There’s no need to overload this place with decor, there are smaller options or you can still go for the regular-size items but put very few of them.

Conclusion

As you can see along with this blog, furnishing your Airbnb is a task that takes a lot of time and effort but you can always have fun and enjoy it! After all, once you have the experience, when you have to do it again it’ll be a piece of cake.

Once you’re all done and ready to go live, don’t forget to take high-quality pics and if possible hire a professional photographer, it’ll be worth it.

We hope all the resources we provided you will make your listing’s furnishing journey the easiest and best possible, Happy furnishing!

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Complete Airbnb host community & forum list (2022 updated)

Post author By Delia Valdez
Post date December 23, 2021

What would be of Airbnb without the hosts, right? We all know it’s completely possible for hosts to learn everything for themselves, but it feels great and it fills you with trust to know that you have a community of people behind you that are always available to help you.

Today we’ll be talking about Airbnb hosts online communities, since Airbnb is a platform used all around the world, it’s important for hosts to feel a sense of belonging to this particular world, to feel connected.

When we have a problem we’ve never run into before, how are we supposed to know what to do? Well, luckily, now we have many online groups or forums with +1000 members that may have been through what you’re struggling with right now and are happy to share their experiences to help you.

The craziest and coolest thing about these communities is that you can find a ton of groups dedicated to hosts from specific locations, hosts doing the same particular type of business (investors, rental arbitrage, corporate leasing, etc), hosts doing Airbnb and other rental platforms (VRBO, Booking(dot)com, Guesty, etc) and even hosts looking for services like cleaning person/crew.

There’s nothing you can’t find the answer to on an online community/forum, even the smallest thing you’re insecure about, there’ll always be a host happy to help you and reassure you.

We’ve been engaging with a lot of these communities and couldn’t help to feel amazed by how helpful everyone is.

You can find answers to:

Basic and technical questions about how to use Airbnb and how to deal with problems on the site;
Area restrictions;
Taxes;
Cost of investment;
Where to buy products for your short-term rentals, where to find a crew to help you maintain your STR;
What would guests rather;
You can even ask other hosts to give feedback on your listing!

Let us give you a little walk around all these communities we visited:

Facebook Groups

Facebook is one of the largest social media of all time, used all over the world and by billions of people. It is not surprising that there’s a feature so you can build a “small” group for people with certain topics in common.

While wandering through these groups we’ve found out that most of them are private groups, which means you have to get through a filter to get into them. It’s as simple as answering some questions, accepting the group rules and submitting your request, then some time after or immediately after an admin will accept your request if they consider your profile and answers good for the community.

Airbnb Masterminds

This is a community for Airbnb hosts from everywhere to share their experiences, tips, questions and even jokes or memes to have a good laugh!

Most of the members are always actively engaging in the posts and actively posting as well.

To get into this group you’ll need to send a request, answer some questions and submit them; staying in this group after that is granted as long as you follow the rules and respect the community.

Short Term Rental University

Open to all rental platforms hosts and STR investors, entrepreneurs and newbies. This is a great group for all of them to interact and share their ideas.

In this group you’ll be able to find all kinds of posts and content, people asking and giving advice, sharing their personal experiences, problems and solutions that they have encountered, etc.

With respectful and active members, this is a really good community you can join.

Airbnb Hosts Of Florida

This is one of the many communities dedicated to hosts from a specific location, this time we’re talking about Airbnb hosts from the state of Florida. Hosts from all over the state share their thoughts, experiences, advice, and even insights from their area’s STR market.

To get into this group you have to get accepted first so we advise you to do it with your personal and trustable account and answer the questions kindly.

Airbnb Official Community

Airbnb Community Center

Airbnb has its own official community, you can access it just by logging in with your regular Airbnb account, it has a forum layout with different discussion rooms where hosts and future hosts can post about different topics. You can find discussion rooms such as: New to hosting; Help; Hosting; Airbnb Update among others.

This community is moderated by local admins and it’s open to hosts all around the world, so you’ll often find posts in different languages.

You’re free to post and interact with other hosts’ posts as much as you like, remember to be respectful and kind.

Other STR-Related Communities

BiggerPockets

BiggerPockets is an educational platform centered around real estate investment, they provide all types of content and resources for investors to learn from. They also offer tools to run property analysis and rent estimator reports and, of course, a community as a set of forums on their website. There’s a forum dedicated to Short-Term and Vacation Rental Discussions you can post and comment on.

To access this site you’ll have to create a free account by registering with your email address or Google account, once your account is ready you’re good to go!

Airhost Forum

This is a forum run by hosts for hosts, filled with interesting daily discussions and valuable information. This is a good and well-moderated community where you can find all the answers to your questions, share your experiences and find colleagues.

To participate in this community you’ll need to register with a valid email address, confirm it and you’re ready to start contributing to the community.

The first thing you’ll need to do is create a Reddit account to join these communities, once you’re done setting up your account use the search bar you’ll find at the top of the main page and search for:

And click the “Join” button on the right side of the subreddit’s main bar.

Once you join these communities, you can start wandering through them and the most recent topics will appear in your timeline.

Other Facebook groups

Since Facebook is the social network with most Airbnb/STR-related communities, we would like to give you a downloadable spreadsheet with all the Facebook groups we know and their links so you can easily join them.

To access the spreadsheet click here.

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List of all Airbnb cost to owners [2021 Updated]

Post author By Shivam Kaushik
Post date November 23, 2021

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Airbnb cost to owners

In a move that parallels how rival platforms operate, Airbnb is asking most professional hosts outside of North America to include all Airbnb service fees in the rate displayed to visitors.

AirBnb will prevent hosts who use third-party software to manage bookings from adding a “service fee” to the listing price. Instead, hosts will pay a flat rate of 15%, up from the current 3%.

What are Airbnb service fees, and how much do they cost?

Upon confirmation of a booking, we charge a service fee to keep Airbnb running efficiently and to cover the cost of products and services, such as 24/7 customer support.

Fees for reserving a hotel room

Guests and hosts both pay service fees when booking accommodations. Alternatively, hosts only pay service fees when booking accommodations.

1. Fee-splitting

This is the most prevalent fee arrangement. In exchange for the service fee, the host withdraws his compensation, and guests also pay a fee.

Service charge for the host – Airbnb Plus hosts, hosts listing in Italy, and hosts who use Super Strict cancellation rules may have additional fees. For this fee, Airbnb subtracts Airbnb fees and taxes from the booking subtotal (the nightly cost plus cleaning fees, if applicable, but including additional guest fees).

To check the service fee for a specific booking, go to:

Open the Transaction History page.
Select the reservation code next to the reservation you want to review.
Look for the Airbnb Service Fee under Pay-out.

Fee for guest service

The majority of guests pay a service fee that is less than 14.2 percent of the total booking price. The cost fluctuates depending on a variety of booking parameters and is displayed to guests before they make a reservation, including during checkout.

2. Fee for the sole purpose of hosting

There is no Airbnb service fee, as the service is taken out of the host compensation.

The host-only fee is usually between 14 and 16 percent and is required for hotels and some other hosts. Additionally, software-connected hosts need a certificate unless most of their listings are in the United States, Canada, Argentina or Uruguay. Airbnb Plus hosts and hosts with strict cancellation policies may pay a higher fee. Hosts must pay a 10% service fee for listings situated in mainland China.

Airbnb Service Fees

Airbnb cost to owners / host

We charge a 20% service fee to hosts who provide experiences. This is deducted from the host’s remuneration and is computed based on the price of the experience. For select social impact experiences, we waive this cost.

Fee for guest service

We don’t charge a guest service fee for experiences right now.

Service fees are subject to VAT.

In some jurisdictions, the host and guest service fee may be subject to VAT. When applicable, these VAT costs will be included in the service fee.

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Airbnb become a host

Post author By Shivam Kaushik
Post date October 28, 2021

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Airbnb become a host

Airbnb connects people all around the world with places to stay and things to do. The network is fueled by hosts, who offer their guests the unique option to travel like a native. You might have considered renting out a spare room in your home or even your entire apartment on Airbnb become a host. It wouldn’t be just you. Around four million people have the prestigious title of “Airbnb host,” having welcomed over 800 million guests in nearly every country on the planet.

Whether you live on a catamaran or in a log cabin, own a property in a big metropolis or a small hamlet, chances are your location has the potential to be a profitable Airbnb venue. As of September 2020, the platform’s listings span more than 220 nations and every style of residence imaginable—and some of the most popular venues are also the most basic, demonstrating that you don’t need to possess a fancy penthouse to hang your shingle in this market.

Here are the steps to becoming a host on Airbnb if you want to meet people from all over the world while also earning extra money.

How to become a host on Airbnb?

Begin by listing your items

Tell us the fundamentals-

First and foremost! We’ll inquire about your location, the type of home you’re renting out, and the number of bedrooms and bathrooms your visitors will have access to.

Take pictures of the area-

When it comes to deciding where to stay, guests enjoy looking at photographs. Clean up your surroundings before taking shots to achieve the best results. Take photos of each area, preferably in natural light and in landscape mode.

Identifying unique details is important-

Consider what makes your place unique, such as a view or a pool, when writing your listing title and description. Also, include a note of any information that guests should be aware of prior to bookings, such as stairwells or parking.

Controlling your environment

Add your own set of house rules-

Add regulations for your areas, such as prohibitions on smoking, dogs, or parties, to let guests understand your expectations.

Make a note in your calendar-

Update your Airbnb calendar with your availability to ensure you only get reservations you can host. You can also specify how much notice you require or how far ahead of time guests can book.

Set your own prices-

It’s always up to you how much you charge, but we have tools to help you match your prices to demand, as well as bespoke pricing limits for weekends and specific seasons.

Examine the legislation in your area-

Some cities have home-sharing regulations in place, such as night limitations, registration requirements, or specific levies.

Getting your space ready

Clean it up-

Clean every space accessible to guests, including bedrooms, bathrooms, and the kitchen. Make the bed(s) with fresh sheets and check for hair, dust, or mold on surfaces and floors.

Keep your valuables safe-

Consider putting jewelry, passports, and other valuables in a closed room, cupboard, safe, or storage facility. You might also leave them with family or friends.

Stock up on necessities-

Consider giving amenities like soap, shampoo, toilet paper, bed linen, and towels to assist guests to feel at ease. It’s never a bad idea to have a few extras on hand.

Provide check-in information-

Prepare to check people in and out, or enlist the help of friends or family. You can always utilize a lockbox, an electronic lock, or another kind of self-check-in if no one will be present.

Finish with “finishing touches” –

The small details attract guests’ attention. Guests might receive a guide with directions and tips from the house. A bottle of wine or a small gift can make guests feel even more welcome, but it’s not necessary.

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Useful tool alert: Try Vacation Rental Calculator to estimate your income in 2022

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All About Airbnb Hosting Tips

Discover: How Much Can You Make on Airbnb?

Post author By Shivam Kaushik
Post date September 28, 2021

Do you want to start an Airbnb business but want to know first how much profit you can make? Then you’re reading the right article! If you want to calculate Airbnb income from your rental property, then feel free to use this calculator to get the exact numbers.

The majority of people who start their STR (Short-Term Rental) journey are usually for the purpose of having a side hustle. Many are looking to rent out a spare room, a second home, an attic, or a vacation home. On average, most Airbnb hosts make roughly $1,000/-month on Airbnb as a side hustle. But there are also several hosts who are doing STR as a full-fledged business and making a fortune.

In fact, did you know that most people who are making a fortune doing Airbnb full-time are mostly doing Rental Arbitrage? Since this does not require purchasing a property right away, it’s perfect for those who are on a limited budget and want to test the waters first!

Airbnb Experiences Revenue: Based on Airbnb Host Experience

Let’s face it, operating an Airbnb business can be lucrative as long as the right goals are met by conducting Airbnb market analysis. While the majority of hosts use Airbnb hosting tools to save time and boost their return on investment, it’s still important to rely your decisions on accurate data.

Let’s reflect on this host’s story and learn about the average income for Airbnb:

Jennifer Ward, an Airbnb host in Tallahassee, Florida. She was living with her dog in a 4-bedroom house working a 9-5 job. She decided to rent out 2 rooms as she was having a financial crisis due to her poor health. Also, she was worried about not having any source of passive income in case she was unable to work any longer.

So in 2018, she started renting 2 bedrooms on Airbnb. Being new to the business, she was quickly crushed by the competition. She told us that she used to get some bookings here and there but it wasn’t predictable. As a result, the income was not stable.

The average income from Airbnb that she received was ranging from $650 to $920 a month during that time. Also, the competition was very professional and was beating her by providing better amenities at cheaper prices. Furthermore, she wasn’t aware of what amenities she should provide and how to price the property correctly in different seasons.

This led her to struggle for a while, but she slowly started talking to other hosts on FB Groups and Community. This led her to understand what she needs to improve and what others are doing in the industry. She upgraded the amenities and changed the decor of the house to make it cleaner and more professional in photos.

She also started using data to plan her pricing strategy to help her keep track of the competition. After 4 months of struggling, she saw an increase in booking and also consistency. This happened after learning all the minute details of this STR business

Like Jennifer, there are many success stories out there. But as many success stories are out there so are unsuccessful ones. What’s the difference? Let’s take a look at what separates successful hosts from unsuccessful ones.

Average Income on Airbnb

Renting out on Airbnb is a great idea as it allows you to use an existing asset, your house, and make money from it. If you set up things properly it can even be a very passive source of income with little to no involvement of yours. This is the reason why Airbnb short-term rentals are very lucrative.

On average, Airbnb host earnings can be around $1,000 a month. But this number can be very different based on your location, property, and your hosting skills. If you are able to provide some kind of unique experience to your guests. Then you can even look at making 6 figures just from this side hustle of yours.

How Much does it Cost to Start an Airbnb?

Most travelers are used to luxury hotels and homestays when they are traveling. Your house might be a perfect abode for you and your needs, but you’ll have guests with different expectations. You might need to invest in the decor and remodeling of the house when you start your STR business. This can be very expensive or super cheap depending upon the current condition of your house.

To begin with, you can always start by renting out the extra space in your home if you think that it won’t meet your financial status for the time being. Airbnb startup costs can range from $5,000 to $7,000, depending on your list of essentials for the room, kitchen, and bathroom amenities.

At the same time, since you are competing with other hosts, some of whom are doing it full-time professionally. This results in people having higher expectations after staying in different homes. And if you aren’t able to match those expectations then you might end up getting average reviews and unsatisfied customers. This will impact a lot on your overall revenue in the long term.

How much can you make on Airbnb in your neighborhood?

Once you have made up your mind to start your own STR business, you might start thinking to yourself: Is my neighborhood good enough to attract a decent amount of tourist traffic? If it does, where does your house stand compared to the others? And exactly how much revenue do other properties generate in the neighborhood?

To answer all your doubts and give you an accurate estimate of revenue and occupancy rate in your neighborhood, you can use Airbtics. By entering your address in the search bar, you can seamlessly go through your preferred neighborhood and compare the performance of your competitors in one comprehensive dashboard – helpful to make the wisest investment decision!

How Much Taxes Would I Pay for my Airbnb Income?

If you rent out your property for more than 14 days in a calendar year, then you need to disclose your Airbnb Revenue to the IRS. In addition to this, f 10% of the total days it’s rented out to visitors, then you’ll need to disclose your Airbnb revenue and costs to the IRS.

If you earned more than $20,000 or made 200 or more reservations in a calendar year, you’ll need to submit Form 1099-K. If you fail to submit the 1099 form, then the company you are using to do STR can withhold 28% of your revenue generated. So it’s better to do the proper paperwork as you’ll pay far less than 28% if you file your taxes!

Apart from paying Uncle Sam, hosts also have to pay a fee of 3% to Airbnb. There are some variations to this. If you’re an Airbnb Plus host who lives in Italy or has an exceptionally rigorous cancellation policy, your fee percentage will be higher. For all hosts with Airbnb listings in China, the fees will be a whopping 10%.

When planning out your first Airbnb, it’s very important to keep all these costs in mind. Taking note of all the taxes and service fees will help you calculate accurate profits when planning out.

Expectation management

It’s easy to get excited to see booking come in and revenue go up after you get better at hosting. But the real profit is after paying off the IRS, cleaners, repairs, maintenance, and replacing damages.

After talking to many hosts we found out that you can expect to spend anywhere from 10 to 20% on repairs, cleaning, and other business expenses. Many new hosts don’t factor in all these expenses and end up not generating a profit in the long run.

To manage this, one shouldn’t go all in at once. Start slowly, rent out 1 room and see if you were able to generate a profit after all the expenses are paid off. This progressive method will save you from making a huge loss that will take a long time to recover from.

Always keep a rule of thumb to set aside 30% of revenue for operational costs. This is based on the volume of reservations and the quantity of the procedures, such as the management and cleaning services.

Conclusion

The Airbnb hosts that often make the most are those who have an entrepreneurial mindset and treat their rental properties as a company. There are many advantages to becoming a host, but it’s important to remember that doing it well requires effort and spending money on operational expenses.

In order to track your potential Airbnb profit, you can always do your research online or ask several hosts on forums such as Bigger Pockets, Quora, and Reddit. It could certainly be difficult to accurately estimate your revenue manually, which is why you’ll notice that the majority of professional hosts use short-term rental analytics tools.

In the digital era where everything is almost available at the tip of your fingers, don’t waste your time and energy on investing in the wrong property! Try Airbtics today and get ahead of your competitors in the market.

Trending: Airbnb Estimate Income

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Top 10 Property Management Companies in California

Post author By Shivam Kaushik
Post date September 13, 2021

Why these Property Management Companies?

The Aim of this list is to give you a resource of reliable Top 10 Property Management Companies in California. This list is compiled by checking all of these property management companies on several parameters. Reliability, Experience, Past Reviews, Existing Portfolio, Customer Service, Market Reputation and use of Technology to name a few. All the management companies on this list are the best at what they do. You get our seal of approval to choose any of them for your management needs in California.

Ps: These companies are not ranked in any particular order.

Ziprent

Ziprent aims to provide the most efficient property management experience for their landlords and tenants. Through the perfect integration of technology and hands-on customer service, their platform provides the highest level of property monetization, maintenance, and utilization at the lowest cost possible. They charge flat fees with best-in-class service so that leaves more money in your pocket. Get started with by having them find you a tenant for $1,250 or have them fully manage the property for $125 per month.

More Info

Ziprent

1161 Mission St, San Francisco, CA 94103

Phone: (415) 688-6660

Email: [email protected]

Area’s Served:

Alabama

Arizona

Connecticut

Florida

Georgia

Nebraska

Nevada

North carolina

Oregon

Texas

Utah

Virginia

Washington

Chandler Properties

Chandler Properties was founded by its CEO, Carolyn, in 1979. It aims to provide complete property management services from large to small apartments, buildings, and independent homeowners. With an expert and customized team, they aim to provide the highest level of services for all property needs. For example property rental management, maintenance, tenant screening, etc.

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Chandler Properties
2799 California Street
San Francisco, CA 94115

3475 California Street2799
San Francisco, CA 94118
Phone: (415) 921-5733
Email: [email protected]

TrueDoor Property Management

Founded by Kyle and Bryant, True Door Property Management, one of the top property management companies in California. They had been taking care of the property management needs of owners in Stanton and throughout Orange County. Their Staff includes a local passionate and knowledgeable team of experts who provide solutions to maximize returns on property. Additionally, True Door experts keep a track of the market’s conditions and recommend their clients from time to time about property potentials.

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TrueDoor Property Management
15234 Transistor Lane
Huntington Beach, CA 92649
Phone: (714) 899-2200

Pinnacle Property Management

Established in 1989, Pinnacle Property Management is a licensed company from the Department of Real Estate, based in Los Angeles. Serving the Southern California community for more than 30 years now. They had been providing complete expert services to the property owner from tenant screening, marketing, to 24 hrs property maintenance. Certainly, Pinnacle has an excellent reputation in the market and has a huge portfolio to back it up.

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Pinnacle Property Management
22700 Crenshaw Blvd.
Torrance, CA 90505
Email: [email protected]
Phone: (310) 530-0606
Fax: (310) 626-9786

Mynd Property Management

Started in 2016, Mynd has its headquarters in Oakland, California, serving around 8000 properties in 16 markets. With a highly skilled team and innovative technology, it provides customized solutions to the small residential sector in real estate. They do this by increasing the efficiency of the owner and providing a comfortable living for the tenants. It is amongst the top property management companies in California.

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Mynd Property Management
1611 Telegraph Ave #1200
Oakland, California 94612
Phone: 510-607-9292

Area’s Served-
SF East Bay
SF North Bay
SF South Bay
Sacramento
San Diego

RentPros Property Management

A family-owned company, Rent Pros Property Management, has been serving the Sacramento area for the past 30 years. They are amongst the top property management companies in California. Specializing in Single Family Homes, Condos, Duplexes, Fourplexes, and small apartment buildings with less than 16 units. They aim to give a stress-free and profitable service with smooth handling of issues related to the property rentals for their clients

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RentPros Property Management
730 Sunrise Ave, Suite #130
Roseville, CA 95661
DRE #01391164
Phone: (916) 789-3500

Cal-Western

Cal Western provides property management services in San Jose and throughout Silicon Valley. Being the owners and investors themselves they have the advantage to use their personal as well as professional experience while providing the services. They specialize in leasing/renting the property. Ensuring the maximum profitability to the owner, suitable tenants, frequent maintenance is what makes them one of the best.

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Cal-Western
1270 South Winchester Blvd.,
Suite 127 San Jose, CA 95128
Phone: (408) 554-1818
Fax: (408) 246-8941
Email: [email protected]

Jamison Management Company

A South Bay-based, 20 years old family-owned and operated property management company. Jamison Management Company deals with single family and multi family pay properties. With a licensed team of Real Estate brokers and Certified professionals managers, they commit towards providing a reliable and profitable well being of its clients. They serve the area of South Bay with great focus to their properties at Hawthorne and the Beach Cities. They provide all-around service from management and broking.

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Jamison Management Company
107 W Torrance Blvd Suite 104
Redondo Beach, CA 90277
Phone: (310) 798-9154
Fax: (310) 798-9164

Alliance Property Management

Alliance Property Management has its operations in Sonoma County – serving communities such as Santa Rosa, Windsor, Rohnert Park, and the surrounding areas. They target safe and comfortable staying conditions for tenants with a highly responsive maintenance team and providing stress-free, profitable services for the owners. Their aim is to serve a first-class housing experience for both the owners and tenants and their past reviews act as a proof of that.

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Alliance Property Management
1101 College Avenue Suite 250
Santa Rosa, CA 95404
Phone: 707-524-8380
Fax: 707-527-1255
Email: [email protected]

Area’s Served-
Santa Rosa
Cloverdale
Rohnert Park
Windsor
Rincon Valley
Sebastopol
Sonoma

Management One Property Management

Management One was established in the year 1983 by Ron at Inland Empire of Southern California. With the experience of over 30 years, the organization has leased more than 10000 properties and managing thousands. More than 3000 owners from Riverside, Corona, Moreno Valley, and Perris have entrusted their properties with them. They dedicated the success of their company with qualitative leadership, expert and creative management skills. Vision provided by Ron is the guide for the company as well as the current system in use by the sub-offices.

More Info

Management One Property Management
6800 Indiana Ave Suite 110,
Riverside, CA 92506
Phone: 951.735.2000
Fax: 951-924-7241
Email: [email protected]

Area’s Served-
Riverside
Moreno Valley
Perris
Corona
Eastvale
Rancho Cucamonga
Ontario
Fontana

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Top 12 Property Management Companies in Florida

Post author By Shivam Kaushik
Post date September 4, 2021

Why these Property Management Companies located in Florida?

The Aim of this list is to give you a resource of reliable Top 11 Property Management Companies in Florida. This list is compiled by checking all of these property management companies on several parameters. Reliability, Experience, Past Reviews, Existing Portfolio, Customer Service, Market Reputation and use of Technology to name a few. All the management companies on this list are the best at what they do. You get our seal of approval to choose any of them for your management needs in Florida.

Ps: These companies are not ranked in any particular order.

Ziprent

More Info

Miami

Address: 25 SE 2nd Ave ste 550, Miami, FL 33131

Phone: (786) 313-5247

Email: [email protected]

Jacksonville

Address: 1200 Riverplace Blvd, Jacksonville, FL 32207

Phone: (904) 371-7311

Email: [email protected]

Tampa

Address: 610 E Zack St suite 110 3080, Tampa, FL 33602

Phone: (656) 207-7191

Email: [email protected]

Orlando

Address: 255 S Orange Ave suite 104, Orlando, FL 32801

Phone: (689) 303-6407

Email: [email protected]

Campbell Property Management LLC

Established in 1953, Campbell property management has been serving the people of South Florida for more than 6 decades now. They have expanded to more than 6 cities in South Florida. With a renewal rate of more than 98%, they are one of the best property managers out there currently in operation. Their timely responsiveness and frequent updates to all of their clients have been a major factor in this success. Clear cancellation policies and extensive knowledge of the local area are also a big plus point. They have an image of being trustworthy and professional and have 6 decades of experience to back it as well.

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Deerfield Beach – Headquarters
1215 East Hillsboro Boulevard
Deerfield Beach, FL 33441
Phone: (954) 427-8770
Fax: (954) 427-6692

Lake Worth
9897 Lake Worth Road, Suite 304
Lake Worth, FL 33467
Phone: (561) 432-2703
Fax: (561) 432-2181

Jupiter
401 Maplewood Drive, Suite 23
Jupiter, FL 33458
Phone: (561) 203-7910
Fax: (561) 277-2481

Central Broward
3500 Gateway Drive, Suite 202
Pompano Beach, FL 33069
Phone: (954) 968-4481
Fax: (954) 970-9367

West Broward
8010 N. University Drive, First Floor
Tamarac, FL 33321
Phone: (954) 739-1600
Fax: (954) 739-1604

Port St. Lucie
525 NW Lake Whitney Place, Suite 202
Port St. Lucie, FL 34986
Phone: (772) 218-5405
Fax: (561) 277-2481

Miami
1680 Michigan Avenue, Suite 700 #200
Miami Beach, FL 33139
Phone: (305) 942-2490

Premier Property Management LLC

Premier Property Management has 40 years of experience in management and long history of great service. This company is definitely one of the top 10 Property Management companies in Florida. They have a team size of 10 based in Naples, Fl. One of the reasons for their success is, providing peace of mind to their clients. They take on all the work from start to finish. To name a few Marketing, Photography, Virtual Walkthroughs, Tenant Screening, and Background Checks and all can be tracked using their online portal. This level of convenience and detail is what brought them to this list of the top 10 property management companies in Florida.

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Premier Property Management

739 5th Avenue S

Naples, FL 34102

PHONE: 239-321-6650
FAX: 888-352-8646

EMAIL: [email protected]

Pristine Property Management LLC

Pristine Property Management manages residential, multi-family and commercial properties in the Miami and Fort Lauderdale metropolitan areas – representing clients from the US, Europe and Latin America. They provide a personalized level of attention to each of their clients and their properties, which allows them to gain the trust of many people.

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PRISTINE PROPERTY MANAGEMENT LLC
9480 NE 2nd Ave #128
Miami Shores, FL 33138

Phone: 305.400.4842
Email: [email protected]

Smart Move Short Term Property Management

Founded in 1992 by Larry Isakowitz, Smart Move is really a smart move if you are looking for Airbnb property management in Florida. They are based out of Fort Lauderdale and have a vast knowledge of the local market. According to their website, they have served more than 100,000 guests and clients which is a feat in itself. Their full-fledged service, which includes Professional Photography, Overseeing Renovations, Managing Maintenance and Repairs & Collecting, and Distribution of rent is a huge plus.

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Smart Move Accommodations
412 SE 23rd Street,
Fort Lauderdale, FL 33316

Email: [email protected]
Phone: (954) 525-9559
Fax: (954) 527-0595
Skype: smartmovecrew

Hours of Operation
8:30 AM – 5:30 PM EST
Monday – Friday
For After-hours and weekends, please call the office number (954) 525-9559
Press #9 and leave message – we will return the call as soon as possible.

The Realty Medics

Founded by Thomas Weclew in 2004, The Realty Medics is an Orlando-based property management company. Though they serve more than 29 areas in Florida. They are a great property manager if you are based outside of the US. Their diverse team of 30+ employees is very experienced in handling clients from outside of the US.

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The Realty Medics

10027 University Blvd
Orlando, FL 32817

Phone: (321) 947-7653
Fax: (407) 965-3312

Property Management Inc

Founded by Stevem Hart PMI is a trusted franchise in the world of Property Management. They have more than 300+ partners scattered throughout the country and 40+ scattered throughout just Florida. If you are looking for someone reliable with a presence all across the state of Florida then look nowhere else. Their experience and professionalism have been tested & proven over the last 13 years of their operation and their clients love them. Their rapid growth and expansion act as a seal of approval for that.

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Address
2940 Maple Loop Dr.
Suite 104 Lehi, UT 84043

Phone: 801-407-1301
Email [email protected]

Central Florida Property Management

CFPM is one of the best property managers in Central Florida. Why do we say that? Well, their flexible and transparent policies and great reviews have to do a lot with it. They are a locally owned business as well and have extensive knowledge of the Central Florida Area. Their Network in this area ensures high occupancy of your property all the time. They have also heavily invested in their online portal and financial reporting to deliver accurate data to their clients 24/7.

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333 N Ferncreek Ave
#101, Orlando, FL 32803

Phone: (407) 429-4834
Email: [email protected]

Gulf Coast Property Management

Gulf Coast Property Management should be your go-to choice if looking in Bradenton Area, Florida. They have a vast knowledge of the area and surroundings. They serve both long-term and Airbnb property management, clients. This flexibility makes them a good choice for anyone who is in the future wanting to switch to Airbnb Management from traditional renting. Having them as your managers gives you the flexibility to make the decision to switch whenever you are comfortable. Plus you don’t have to change your management company.

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Address
501 Village Green Pkwy #21
Bradenton,
Florida 34209

Office Hours
Mon-Fri: 9:00am – 5:30pm
Sat: 9:00am – 5:00pm

Phone – (941) 827-0706
Email – [email protected]
——————————–

Address
11051 Gatewood Drive
Lakewood Ranch,
Florida 34211

Phone – (941) 782-1559
Email – [email protected]
————————–

Address
243 N Lime Ave.
Sarasota, Florida 34237

Phone – (941) 213-4800
Email – [email protected]
——————————-

Address
1846 S. Tamiami Trail, Suite 15,
Venice, Florida 34293
United States (US)

Phone – (941) 552-4200
Email – [email protected]

R. Russell Property Inc

R.Russell Property was established in 1982 with the aim to provide the best property management service to the people of central Florida. They serve more than 25 areas in Florida as of now (List available in the more info). Their strong understanding of the local market and their network is what gives them an upper hand over any other firm out there. They have managed more than 7,000 homes to date and the majority of their client seemed to be very satisfied with their services.

More Info

R. Russell Properties, Inc.
498 Palm Springs Drive, Ste 210
Altamonte Springs, FL 32701-7805

(407) 339-2233 | (407) 339-2238
[email protected]

Vacasa

Luxury Property Management Care

Founded by Liran Koren and Sivan Gerges, and headquartered in Boca Raton, FL, Luxury Property Management Care is Florida’s Only Full-Service Property Management Services and Investment Concierge. We do more than just manage real estate—we add immediate and quantifiable value to your business that more than offsets our fees. In short, we’re not a line item expense but the savviest investment you can make that will keep generating you more wealth for years to come. Real estate investing can be your ticket to boundless wealth, or a bottomless money pit. The real difference between those landlords living the dream of running a real estate empire that generates endless passive income and those forced to work every day to stay above water is all about finding the right property management partner.

More Info

Property Management Office
9950 Peninsula Corp Cir APT 2008, Boca Raton, FL 33487

(561) 468-3973 | (561) 362-2275

[email protected]

HIGHEST OCCUPANCY RATES IN FLORIDA?

We have that! Check out the average Airbnb occupancy rates by city & learn more.

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5 Short Term Rental Tools for Perfect Pricing

Post author By Shivam Kaushik
Post date August 8, 2021

Figuring out how to price your property is one of the most crucial parts of Short Term Rental Business. Pricing your property too high will reduce your number of bookings drastically. Most of your competition will undercut your pricing and swoop away all the guests. Price low then, Right? Price it too low and you’ll be leaving money on the table and end up not making enough profits to cover maintenance and end up being non-profitable in the long run.

So what to do? Use Dynamic pricing tools! Since the launch of these dynamic pricing tools, both by Airbnb (which works just fine) and other companies(a few good ones here). Property managers got let off from manually scraping data and analyzing trends for hours to figure out the right pricing for their property. Dynamic pricing tools are a great addition to any property manager’s arsenal. They can help you boost your overall booking by suggesting the most optimized pricing. You can grow your revenue, increase your occupancy rate and save hours of manual work.

Let’s look at the best 5 Short Term Rental Pricing Tools in the market and which one would be best for you.

Read More:

Airbnb Smart Pricing Too Low

AirDNA vs Mashvisor

Why Manually Setting Your Price Sucks!

Just a few years ago, you would find property managers spending most of their time with spreadsheets and yearly pricing brochures to guess what they should price their property. Many small managers just used guesstimation to price a property. Without considering seasonality, events or demand.

This will not work anymore! You can make your guesstimation manually to a certain extent. You could be having some leads on demand spikes in the future based on upcoming holidays, events, etc. Maybe you have been seeing similar patterns regularly for years and just want to follow them. But, there are so many factors that affect the price of property nowadays. Major events, Seasonality, Competition, Saturation, Supply/Demand, and tons more.

How does dynamic pricing work?

Dynamic Price tools optimize your listing’s performance by dynamically adjusting your listing’s price based on supply and demand. These price suggestions are generated in real time based on the number of bookings happening in your area. This method takes multiple factors into consideration to give out final pricing. Demand, Supply, Property Size, Property Type, Reviews, Events, and Past Performance.

Using pricing software in your workflow can help you boost your revenue significantly and save you a lot of time that you would have spent manually researching. Many pricing tools claim that after using their pricing software revenue managers have seen as much as a 40% increase in their revenue.

Top 5 Short Term Rental tools for Perfect Pricing

A good short term rental pricing tool should not just be able to provide accurate data, but also integrate with other vacation rental software like Channel Managers, Property Management Systems, and Property Listing Sites for a better workflow and ease of use. Companies in this list have been in business for many years now and have very refined tools with great track records. All of them have been frequently updating their tools and improving on suggestions from their users. Many of these companies have even raised millions of dollars to maintain a high standard of accuracy and customer service.

Let’s take a look at the best short-term rental pricing tools out there.

1. Airbtics

Airbtics developed its own dynamic pricing tool in 2019. They have taken its Yearly Price Calendar, which allows users to filter daily prices of similar rentals, a step ahead. This short term rental pricing tool recommends the price of properties based on machine learning algorithms that are fed real-time booking data. This allows it to be accurate and even consider events and short-time spikes in supply and demand to give accurate results. It also helps you with custom integrations with any PMS or software you are using.

Airbtics team has tested this software with many vacation rental managers and has seen accurate results. The best part about this software and the reason we have put this on top is that it charges a fixed fee. Unlike many other pricing tools that take a commission anywhere from 1% to 2%. Airbtics charges a flat fee depending upon the number of listings and the size of the area. Free 15-Day Trial for property managers with more than 5 properties.

See Airbtics Pricing for your City

2. Beyond Pricing

Beyond Pricing has built an advanced dynamic pricing tool solution that accounts for changes in demand on a daily basis to help you maximize your short term rental revenue and occupancy.

The software assigns a pricing Health Score to your properties to make sure you’re always aware of opportunities for optimization.

You get detailed insights with every price recommendation, so you don’t need to wonder why prices are going up or down in your area on a given day. The tool also helps you plan ahead by providing a preview of pricing recommendations for the next year.

The Beyond Pricing platform connects seamlessly to the most popular property management systems and Channel Manager.

Pricing: 1-1.25% of total revenue. 30-day free trial available.

3. PriceLabs

PriceLabs offers customizable data-driven pricing to help boost your vacation rental revenue. Their price recommendations take into account market supply and demand, seasonal and day-of-week trends, special events/holidays, and lead time. They pinpoint dates that are in high demand by looking at data from nearby listings and hotels, track seasonality based on historical data, and analyze your listings’ performance to suggest pricing tweaks. Customization options include setting dynamic minimum stays, enabling occupancy-based adjustments, and more.

PriceLabs connects directly to over 30 PMSs and Channel Managers.

4. DPGO

DPGO is a dynamic pricing tool that was built keeping in mind the needs of professional property managers.

It has an AI-driven dynamic pricing algorithm with real-time market data. It helps you optimize your listing prices to match market demand, increase your occupancy and reduce gaps in your calendar. Not only that, it controls your length of stay and incorporates longer bookings into your strategy for more revenue.

The platform is all about giving you control. DPGO seamlessly integrates with tools that you likely already use so there’s no need to migrate or manually enter your data.

Pricing: Starts at 0.5% of the booked price or $1 per booked night (for 1 vacation rental property). 30-day free trial available.

5. Wheelhouse

Wheelhouse helps Airbnb hosts, vacation rental owners, and property managers run their businesses more efficiently with tools like dynamic pricing, powerful data insights, and a personalized revenue management strategy. They help you stay competitive throughout the year with more than 240 unique rates per year.

Wheelhouse many parameters into consideration when suggesting a price. Base Price, Last minute discounts, Minimum Night Stay, and many more. Advanced settings help you control how aggressive you want your pricing strategy to be and align it with your overall business goals. Wheelhouse integrates with several popular PMS providers.

Pricing: 1% of total revenue. 30-day free trial available.

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Airbnb Smart Pricing Too Low?

Post author By Shivam Kaushik
Post date August 1, 2021

Since its launch in 2015, Airbnb Smart pricing feature has been getting mixed reviews from hosts all over the world. Some like it, some just use it and some outright hate it. If you are not familiar with Airbnb smart pricing, let me tell you. It’s a feature that helps you set the ideal price for your rental listing on Airbnb so you don’t leave anything on the table. But does it? That’s what we’ll be discussing in this blog and provide you with some alternative dynamic pricing tools as well.

If you have already used this feature then you must already know all the benefits it claims to provide. Dynamic pricing, competitive rates, optimized listing with better conversion rate, and higher booking rate to name a few. All these features are great to have as an Airbnb host but after real-life testing, over the years many hosts have reported issues with this feature. When it comes to Airbnb pricing and a lot of hosts don’t seem to be satisfied with the features and report that Airbnb smart pricing is too low and it undervalues their property.

What is Airbnb Smart Pricing?

Airbnb Smart Pricing is an Airbnb feature/tool that will help you dynamically price your property. It does this by analyzing similar properties in your area and their pricing data to help you dynamically change your price for more optimized bookings. It automatically changes the pricing of your listing based on the demand and supply in the market after analyzing the booking data of similar properties. You can choose to set a minimum and maximum price so your property isn’t undervalued when the demand is low.

How does Airbnb Smart Pricing work?

The smart pricing feature checks the demand and supply in your neighborhood for similar houses like yours. The criteria are that the houses should be of similar size and have similar amenities. Based on the occupancy rate and average booking price it dynamically changes the price of your listing to ensure a higher booking rate.

What criteria are used to dynamically price a listing?

1. Property Type

What kind of property or room you are offering plays an important role in determining the dynamic smart price. Usually, Airbnb’s algorithm will find similar properties in your area to estimate the price. Also if you want to have an edge over the other listing, try adding some amenities that most properties in this price range generally don’t offer. It can be an extra air bed, or a TV, whatever your budget allows, this will show Airbnb’s algorithm that you are offering a better property at a reasonable price and it will push it more to its users.

2. Demand in your neighborhood

If the number of bookings per week is on a decline in your area for some reason, smart pricing usually gives a discount on your property to encourage people to book more in this area and make it more appealing to guests and vice versa when the booking rate is high.

3. Listing characteristics and amenities

Having more amenities and character in your house also affects your listing price. Offering more amenities makes your place a steal and an ideal property for Airbnb to promote.

Don’t worry if you have a limited budget and can’t invest in more premium amenities like pools etc. You can also positively influence the algorithm by highlighting the characters of your house which makes it more unique than the house next door. It can be an open brick wall, or a fruit garden in your backyard, highlighting anything that will make smart pricing recognize your house as unique and promote it to more guests.

4. Average Rating of your listing

If your property is constantly getting good ratings and positive reviews Airbnb algorithm will publish it to more people searching for similar properties in your area. This will also help you yield higher prices as more than amenities and character people like to have a hassle-free experience with a good host and having positive ratings will help you with just that.

Why shouldn’t you use Airbnb smart pricing?

With all the benefits Airbnb claims smart pricing has, it sounds pretty obvious to use it right? But the ground reality is most hosts avoid using smart pricing. Hosts have told that their overall monthly revenue decreases when they use smart pricing or that this tool underprices their property even during the peak season. They feel more in control when pricing the property by themselves. Let’s see if we have also seen similar results or not!

Still speculation, but many guests believe that dynamic pricing prioritizes the number of bookings over the host’s earnings because commissions on each booking increase Airbnb’s revenue. This has not been confirmed by Airbnb officials.
The dynamic price may offer your property for cheaper than you would have otherwise, affecting your overall monthly revenue.
Smart Pricing algorithm doesn’t properly consider specific things about your house like the quality of furniture, quality of flooring and overall feel of the house, it will put you in the same category as other same-size apartments in your area even if your place is much nicer.
Some hosts complained that their listing was receiving bookings for almost the same price throughout the year. They complained that the tool sometimes doesn’t consider the seasonality. Although Airbnb denies these claims.
One of the major downsides of Airbnb smart pricing is that it doesn’t recognize upcoming events in your area until it’s too late. As it makes its decision to up the price based on demand going up and many people book their Airbnb weeks prior to the event.

How should you strategize and price your Airbnb?

Even if you are using Airbnb smart pricing or any other dynamic pricing tool, you should do some research of your own and spend some time figuring out what pricing strategy works for you the best. Here are some things you can consider while making your pricing strategy.

1. Max Booking Price Possible Strategy

In this method, you aim to charge the highest someone is willing to pay for your property. This can be found easily out by an incremental increase in your per night charges to see when the bookings drastically drop. This method will bring fewer bookings but the goal is to cover up for that lost revenue by charging higher than average. For this method to work you should have a high ticket premium property so that guests are able to justify the premium they are paying to stay at your property.

2. Maximum Occupancy Strategy

In the pricing strategy, you aim to book your property for a less-than-average price but for longer durations.

You need to undercut the price of similar properties and also choose booking dates wisely to keep your monthly occupancy rate at the highest. This will help you keep your house occupied for more days thus bringing in more revenue. The downside of this strategy is the same as well. Due to longer booking durations maintenance, time and effort will increase.

This is an ideal strategy if your area is in a low season, and if you have some credible resources to keep your cleaning turnaround time low. Just make sure not to undercut the market too much as you would not be able to make a profit after paying off other expenses.

3. Balanced Airbnb Pricing Strategy

The Balanced Airbnb Pricing Strategy is a combination of max occupancy and revenue methods to earn the most revenue possible throughout the year even in low seasons.

It’s based on a flexible approach, meaning that during your low season you can use the Max occupancy pricing strategy to keep your property filled. Then, during your high season and any special events, you can employ the Maximum Revenue approach to optimize your earnings.

This strategy does require more attention and time but will yield consistently high occupancy and higher income than sticking to one strategy or just Airbnb’s smart pricing tool. This can be a downside as well as you would have to put in extra work and more hours. To help you avoid that, in the next section we will be suggesting some tools that can help you implement the strategy of your choice and not put in extra hours each day on research.

So when it comes to Airbnb pricing you should take a look at your situation and consider what is your priority. No strategy is perfect, they all cater to different individuals with different goals. Some want to spend less time on research and maintenance of the listing, some are fine with it till brings in more revenue. Just one suggestion, always do your research before pricing and don’t just use intuition or guess to price your property otherwise you may end up not generating revenue.

Top Airbnb Smart Pricing Tool Alternatives

Airbtics: Airbtics Dynamic pricing is a great tool if you are a property manager or an investor who needs to be looking after multiple properties and research different areas at once. The biggest strong point that Airbtics has is the customizability of the data and the turnaround time. It also offers an interactive dashboard, API, and Downloadable data for more data manipulations.
PriceLabs: PriceLabs enables you to manage multiple listings at once with their easy-to-use dashboard. You can also integrate their tool with more than 50+ leading property management software.
BeyondPricing: BeyondPricing is a reliable revenue management software that’s been in existence since 2013. It offers dynamic pricing that is accurate and data-driven, its other tools also offer insights about the industry and personalized guidance to use them.
Wheelhouse: Wheelhouse is revenue management and market-insight software designed for effective business management. It also offers important comp set intel to help you understand how your rental is performing against the market.

Conclusion

Using any smart pricing tool is a great thing as it removes the hassle to look at data and figure out things for yourself. But if you are looking for maximum revenue generation then pairing good dynamic tools with some of your own research will yield a much higher return.

Airbnb Bad Review: Use them to your advantage.

All About Airbnb Hosting Tips

Ultimate Airbnb House cleaning checklist 2021

Post author By Shivam Kaushik
Post date July 27, 2021

A clean home is a happy home, even if it’s only temporary. Your Airbnb listing serves as a temporary home for your guests. When they walk through the door, make them feel the need to come back. One of the best ways to ensure a repeat guest or referral is to operate a clean listing. Whether you are a DIY Master and handling the cleaning tasks yourself or outsourcing the deed – do it right. We have created the ultimate 2021 AirBnB house cleaning checklist.

Access the home: Remove all trash and left-behind items of previous guests

The very first thing to do following the completion of a stay is to access the entire house. Take a few minutes and walk the home, inspecting each room. It doesn’t hurt to take along a pen and pad or take notes on your phone. If you see something that is going to need a repair of some sort, make a note. Identifying damage beforehand is necessary for any damages needing to be billed and repaired.

While some may prefer to focus on one room at a time, removing all large and obvious trash during your walkthrough will carve your cleaning time. It also allows an easier maneuver when cleaning.

Start the laundry: This can be done while simultaneously cleaning.

Before starting the actual wipe-down and sanitizing of your Airbnb, remove all linen and towels. If they are a color other than white, be sure to separate the laundry accordingly. Color separation is necessary to avoid any color bleeding or fading.

Now, your space is free of trash, all damages, if any, have been noted, and the laundry is going – let’s clean.

Clean the kitchen

Two spaces will make or break your listing. The kitchen is one of them. Follow this list to get a spot-free kitchen.

Clear the refrigerator of any items from the previous guest.
Wipe and sanitize the fridge.
Wash and dry the dishes. Clear the dishwasher as well. Place the items neatly in the cabinets.
Thoroughly wipe the stove and oven of any residue.
Clear the countertops, returning any condiments or other items to their rightful place.
Wipe countertops, appliances, and sink (hardware included).
Sweep and mop the floor
Empty the trash.

Clean the bathroom

The bathroom is the second space. A clean bathroom means comfort.

Clean the mirrors
Wipe and sanitize the sinks
Properly clean the toilets. No stains, no residue! Pro tip (When done cleaning, pour a little fragranced cleaner in the toilet bowl for a lingering clean scent.)
Clean the shower and tubs. If the shower has glass or tiled enclosures, scrub away soap residue and scum.
Sweep and mop the floor
Empty the trash.

Dusting, Tidying, Reset and Restock

A clean home gives a clean feeling. Your guests will appreciate the sense of cleanliness from the moment they walk through the door.

Dust the common areas, including nightstands, entertainment center, and other end tables.
Double-check the bulbs to ensure all are adequately lit.
Remove removable cushions to check for any remaining items, food, or other debris. Fluff the cushions and pillows. (Bonus tip, a fabric freshening mist will give the furniture a lasting pleasant smell.)
Straighten any ornamental decor (table magazines/books, flowers, centerpieces)
Restock all fresh items (milk, condiments, etc.) and paper and hygiene products (paper towel, shampoo, tissue, etc.)

The final thing to remember is to conduct a walkthrough to ensure you’ve taken care of each space entirely.

Keep in mind that the level of cleanliness can vary based on the home’s condition after the previous stay. It is also essential to conduct a deep cleaning of your Airbnb at least once a month. A deep cleaning will be the same as your typical cleaning except on a more intense level with greater detail.

During your scheduled deep cleans, be sure to inspect for cobwebs, steam clean the carpet, and check the wear of your linens and towels for replacements.

Pro Tip: Small things to keep in mind that can significantly impact your guest are in-home gifts such as a small basket of goodies. Great items to consider are wine and desserts or fresh fruits. If you prefer to avoid all food and beverage items, consider fresh flowers.

Tags Hosting Tips

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Factors to consider when planning to furnish your property

1. Budget

2. Styling

3. Property Size

4. Identify your audience

5. Timing

Ideal furniture for your listing

1. Entire House / Condo / Apartment

Living Room

DINING ROOM

KITCHEN

Toilet & Bathroom

Bedroom

Studio Apartment

Living room furniture and appliances

Dining Room / Kitchen furniture & appliances

Tableware & Kitchenware

Office furniture & appliances

Bedroom furniture & appliances

Bathroom Essentials

General

Conclusion

Quick Links

Quick Links

Facebook Groups

Airbnb Masterminds

Short Term Rental University

Airbnb Hosts Of Florida

Airbnb Official Community

Airbnb Community Center

Other STR-Related Communities

BiggerPockets

Airhost Forum

Reddit

Other Facebook groups

Airbnb cost to owners

What are Airbnb service fees, and how much do they cost?

Fees for reserving a hotel room

1. Fee-splitting

2. Fee for the sole purpose of hosting

Airbnb Service Fees

Airbnb cost to owners / host

Fee for guest service

Service fees are subject to VAT.

Airbnb become a host

How to become a host on Airbnb?

Begin by listing your items

Tell us the fundamentals-

Take pictures of the area-

Identifying unique details is important-

Controlling your environment

Add your own set of house rules-

Make a note in your calendar-

Set your own prices-

Examine the legislation in your area-

Getting your space ready

Clean it up-

Keep your valuables safe-

Stock up on necessities-

Provide check-in information-

Finish with “finishing touches” –

Airbnb Experiences Revenue: Based on Airbnb Host Experience

Average Income on Airbnb

How Much does it Cost to Start an Airbnb?

How much can you make on Airbnb in your neighborhood?

How Much Taxes Would I Pay for my Airbnb Income?

Expectation management

Conclusion

Why these Property Management Companies?

Why these Property Management Companies located in Florida?

Why Manually Setting Your Price Sucks!

How does dynamic pricing work?

Top 5 Short Term Rental tools for Perfect Pricing

1. Airbtics

2. Beyond Pricing

3. PriceLabs

4. DPGO

5. Wheelhouse

What is Airbnb Smart Pricing?