Wondering what makes a property “good” for short-term renting? Could essentially any property be used as a short-term rental? Technically yes, but that doesn’t mean they’d all be successful ones. Keep reading to know what you should consider when assessing or establishing a stay.
Location
Similar to any Real Estate investment, it’s all about location, location, location. As far as how to consider the best locations for the area, think about if you would love to stay there for a vacation.
Downtown vs suburb will attract different types of guests, for their different types of travel plans. Both scenarios have their pros and cons, so it will be up to you to identify the type of STR you would like to create. Generally, downtown STRs see higher turnover and shorter stays but generally demand higher prices. Suburb STRs are great for families or bigger groups, as well as longer stays (2-3 weeks).
Attractions and events nearby can create above average nightly rates which is a huge opportunity when taken advantage of appropriately. Attractions nearby can create a steady flow of consistent bookings, when specific events can’t bump up nightly rates for those time frames. Keep in mind that you might need to be in direct proximity, but if you are conveniently located it may do just as well.
Themed Properties/Stays
Theming involves styling your property to fit a certain theme such as a pirate, Star Wars, or Harry Potter theme.
By theming your property, you can easily differentiate yourself from the competition. When guests scroll through Airbnb listings, a stay designed uniquely will catch their eye and make them pause.
This is called a pattern interrupt and is crucial if you want guests to notice and book your property.
If you’re new to theming, you’ll ideally want to start off with smaller-sized properties. While they are a little cheaper to purchase, that’s not the main benefit. A smaller-size property will require less time, resources, and money to theme out because you have less space. This makes the process a lot more manageable.
Additionally, you’ll want to build up a network for all your renovations. This network should include people such as handymen, painters, and plumbers. If you have a good contact list on your phone for those people, you can get things done pretty quickly.
Some hosts have been able to complete total renovations within 2 weeks, so don’t underestimate the power of a little organization in your project management!
Benefits of Theming:
One obvious benefit of having a themed Airbnb interior design is increased bookings. People who resonate with the theme (e.g. Harry Potter fans) will definitely book. Those who aren’t super into the theme may also book because you’re providing a unique, cool experience for them.
Another benefit is increased attention. If you do something boldly different in a market, you’re going to get discovered with minimal effort. Some owners have gotten their stay featured on travel and tourist sites by reaching out and getting their unique experience displayed. At the end of the day, that’s free marketing and publicity for you, worth the time it’d take to reach out.
If your theme is related to a local attraction, you can build local partnerships with them to cross-promote. For instance, if you’re located in Las Vegas and have a pirate-themed Airbnb, you can reach out to the pirate shows in town.
You may be able to build a partnership where they promote your property and you promote their show. And if you’re a good negotiator, you might even get them to offer your guests a discount on the show. This would be a huge hit with your guests so don’t be afraid to get in touch with your local attractions!
Getting Booked
Because themed properties can be somewhat niche, you can leverage targeted marketing to get bookings. You want to find where the niche is online, join the discussion, and target them. Facebook makes this really easy to do with Facebook ads. You can also target people coming in for conferences and events that fall under the umbrella of your theme.
Theming also makes it easier for you to partner with social media influencers. You can offer them a stay at your themed Airbnb hopefully getting them to share the awesome experience they’d have if they accepted with their followers. With this technique, you’ll be able to leverage the influence of the individual and get eyes on your stay.
If you have a themed Airbnb, and you really want to get crafty, you can create products around your theme and sell that merchandise to your guests. The opportunities to earn more really do go as far as your imagination and determination take you.
Amenities
These include anything that can enhance the experience for the guest. Amenities can include the basic necessities of travel such as toiletries, iron and ironing board, hangers, and small kitchen appliances. Another type of amenity might include property or community amenities such as a pool, hot tub, gym, and office or desk area. Understand and create the availability of as many amenities for your guests as possible to ensure a pleasant stay.
According to a consumer survey commissioned by Airbnb, an overwhelming 97 percent of US travelers surveyed say amenities impact their travel experience. And while accommodations have the highest impact on vacation quality, amenities come in second for US travelers, ranked ahead of shopping/dining, location, culture, and family/friends. But for Brazil, India, Italy, and Mexico, amenities reign first.
Functionality First
Did you know functionality is the top-rated amenity trait followed by thoughtfulness?
For the most important traits travelers look for in an amenity, the majority of the countries surveyed by Airbnb rate functionality first, like a coffee maker or a full set of wine glasses, with strong showings in Australia (57%), China (46%) and the US (43%), and thoughtfulness second, like a bottle of wine, a bicycle to get around town, or a beach bag already packed with everything needed for a day in the sun.
Comfort over connectivity
Did you know air conditioning is cited as one of the most important indoor amenities over internet/wifi?
In today’s world of being constantly connected, it was a surprise to find modern vacationers value comfort over connectivity, with the majority of those surveyed in the US (59%), Australia (46%), and Italy (39%) citing air conditioning as one of the most important indoor amenities over internet/wifi and full kitchens.
Pools, parking, pets
Everyone loves the luxury and look of a beautiful pool, but perks like free parking, and pet-friendly rise to the top too. The majority of countries surveyed rated pools a top amenity but people in the US, Australia, and Canada prefer free parking. Pet-loving travelers appreciate the ability to bring along their most trusted companions with 29% prioritizing pet-friendly as an important amenity.
Overall, pools are the top amenity globally, but free parking and pet-friendly follow closely behind.
What Guests Want Most Of Right Now
To dive a little deeper we’ve looked into our own experiences hosting short-term rentals and have more tips to make the perfect stay. This is a people-centric business at its heart so it pays to think of what guests really want. So what do they really want?
A home away from home
Guests aren’t always traveling for work, weddings, and other social events, so they may be spending a lot of time in your space—and wanting the comforts of home.
Guests are telling us that the top amenities they want currently are wifi, air conditioning, a kitchen, and parking. If you already offer these amenities, here’s what you can do to ensure they’re as guest-friendly as possible:
- Wifi: Make sure it’s working and that guests know how to log on. Consider placing a laminated, easy-to-clean sign somewhere in your space with helpful instructions.
- Air conditioning: We know that air conditioning isn’t as common in some regions. If you do have it, let guests know where to find the controls and how to use them—a laminated sign with instructions may be useful here, too. If you don’t have air conditioning, consider offering a portable unit for the hot summer months.
- Kitchen: Guests may want to cook all of their own meals during their trip, so make sure to include dishware, pots and pans, and cooking utensils. It’s a good idea to mention these items in your listing description, too.
- Parking: If you have a parking spot for guests, be sure to provide any instructions before they arrive. Don’t forget to select it as an amenity on your listing! Whether you host in a city where parking is in high demand or in a rural or suburban area, guests will want to know if you offer parking.
Outdoor spaces
Social distancing is still recommended in some or most areas depending on where you are, which may be why so many guests want to stay in places with outside activities. If your area offers great hiking trails and other outdoor activities, be sure to let guests know about them either in your guidebook or house manual.
Looking for ways to help them enjoy a little fresh air? Spruce up the outdoor areas in your space. If there’s a backyard, consider giving it a refresh. Make sure the landscaping is well-groomed, and you may want to add (or update) the following amenities:
- Patio furniture
- A barbecue grill
- Outdoor cups and plates
- Games and other outdoor entertainment
Cleaning supplies
Just because people are ready to travel doesn’t mean they’re not concerned about their well-being, this is hosting after all so be considerate of all kinds of guests. And no matter how well you clean the space, many guests will appreciate the chance to sanitize certain high-touch areas themselves. Consider stocking up on:
- Disposable paper towels
- Disposable gloves
- Multi-surface cleaner
- Disinfectant wipes or spray
- Antibacterial hand sanitizer
- Extra hand soap
Learn more about the cleaning supplies Airbnb recommends.
Who’s Traveling & How To Meet Their Expectations
We’ve also noticed some trends in terms of the types of travelers, which we’ll detail below. Think about your space and who it’s most well-suited for, then add the appropriate amenities.
Families with kids
You may not be hosting lots of solo travelers right now. The majority of guests surveyed said they’d be venturing out with others, and many are families. You can help parents with small children feel more comfortable in your space—and make packing up the car a lot easier for them!—by stocking some of the things they need most. That may include:
- Cribs
- High chairs
- Baby gates
- Kids’ cups and plates
- Changing tables
- Baby monitors
- Outlet covers
You should also make sure you have enough of the essentials to go around. Things like:
- Soap
- Shampoo
- Toilet paper
- Extra sets of bedding and towels
Pet parents
Since so many guests are driving to their destinations, many may want to bring their four-legged family members along with them. We know that it might be uncomfortable—or even impossible—for some hosts to offer a pet-friendly space. But if you can, now’s a great time to make the switch.
Keep in mind that this doesn’t have to be all or nothing. If you don’t want to allow pets in your house rules, you could mention in your listing description that you’ll accept pets on a case-by-case basis, then message guests individually to work out the details.
Remote workers
Lots of people have continued to do their jobs remotely, and many may decide travel to new destinations for a change of scenery while working. You can help them stay productive by including the following amenities:
- Fast wifi: Guests have higher expectations for fast internet now that so many of them are working remotely. If you can, consider upgrading to a faster speed.
- A laptop-friendly workspace: That means a desk or table near a power source, with a comfortable chair (even better if it’s ergonomic!). Want to go the extra mile? Add a cup full of brand-new pens, a stapler, and a stack of sticky notes. If you have a printer or copy machine, make sure to highlight those in your listing description.
- Coffee maker and tea kettle: Guests will appreciate a little help powering through their busy days, it’s a small luxury that can mean a lot.
Remember To Update Your Listing
Adding just a few of these amenities can go a long way toward making guests feel more comfortable in your space—and may even result in a great review. Don’t forget to showcase the changes you’ve made by updating your amenities, listing description, and photos!
Final Thoughts
Above and beyond the amenities, keep in mind, as an STR manager the main competition and guest management handbook is written by the hospitality and hotel industries. Guests choose STR for a different experience than going to a normal hotel. Whether it may be for the comforts of home during a longer stay, or bigger spaces when traveling with groups. What makes the STR hosts stand out is going above and beyond for their guests. Understanding what the necessities are is a simple step, but also preemptively having add-ons based on the type of stay may have a huge factor in their experience. Welcome gift baskets or having bikes available for a sunset ride are types of things that can and should be addressed to create the best experience for the guests. Take into account everything we covered and you can be sure your stay is fit for success!
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