Airbnb’s listing platform is now domineering the vacation rental industry. Airbnb is now a household name for both home owners and vacationers. It has made renting an investment property an extremely viable option while getting a substantial return on investment (ROI). To optimize rental potential, having a high quality team like Skye Management can help you quickly reach Super Host status and further increase your reservations and monthly income.
If you have a vacation home, you may be struggling with the decision of whether to find a long term tenant or use it as a short term rental. This article will address the benefits of using Airbnb to make your home a short term rental mecca.
There are many advantages that come with being an Airbnb host, here are just a few!
- Flexibility and personal use of your Airbnb. This is a great way to both enjoy your vacation home and establish some income. With Airbnb, you can simply block off specific dates on your calendar. This allows you, your family and friends to enjoy your vacation home anytime. Most host management companies and vacation rental companies do not offer this option. Skye Management understands that sometimes that, as a host, you want to enjoy a vacation of your own. We encourage our hosts to enjoy their properties as much as guests do!
- Less wear on your home. Since an Airbnb home is not occupied 365 days a year, there is less wear and tear on the property. Plus, consistent and thorough cleanings keep your home in great shape throughout the year. You also have the opportunity to check on your property personally when you use it for your own vacation, making sure everything is up to par.
- Higher ROI. A short-term rental with Airbnb has great potential to provide a higher rental income than committing with a long term tenant. Although income may not be as consistent, the short term ROI should be significantly higher than the long term. Owners have the opportunity to charge higher rates during peak times during more frequent travel times. Peak rates occur mostly during holidays, spring, and summer time. Skye Management’s experienced staff can help you determine the best pricing options for each season, helping you find a balance (number of days your home is rented versus getting the highest rate possible for each stay). Additionally, tax breaks are given to short-term rentals due to property related costs such as advertising and operating expenditures. Check out the IRS website for more benefits related to short term renting so you can maximize your return.
- Provide an invaluable service for great guests. If you choose to interact with your guests, you will find that everyone’s lives are enriched as you share lifestyles, hope and dreams. There are horror stories about terrible guests that we all hear about. However, the truth is that with a good management company and a little faith in humanity, the majority of your short term rental experiences will be exceptoinal! Providing unparalleled hospitality is a very fulfilling way to share your home with the world.
Airbnb has revolutionized the way people vacation. No more cookie cutter, one-size-fits all trips. You can offer your unique style, experiences and home to people that want to get the most out of their vacation. It’s a win for everyone. So the real question is, why wouldn’t you use Airbnb?