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12 Essential Management Tips for Airbnb Owners

Airbnb hosting is a profitable business no matter where you live. People are always searching for the best deals to rent to make their holidays unique. Since hotels are impersonal and cost double the price, people flock to Airbnb hosts.

With a booming market, this short term renting service had 5.6 million listings in 2020 and continues to grow. Almost anyone can list their home or room on the platform, but to achieve success, you need to know how to manage it.

Airbnb management in the UK is a great place to start, as this country is a top tourist spot, welcoming approximately 7 million people yearly. Managing a business is not always so straightforward, so UpperKey has compiled a list of management tips you should consider to succeed in the rental industry.

1. Know How the Renting Business Works

Before listing your home on Airbnb, it’s best to research the market in your area. Travellers love using Airbnb because it’s more flexible and offers unique accommodation, and they are your target customers to grow your business.

One easy way to be ahead of competitors is to check their prices, amenities, and facilities. You should be able to offer your potential guests the same features or more to stand out. You can also find out valuable information by reading their reviews.

Reading bad reviews helps learn more about proactive business practices. This way, you know how to apply certain things and what not to do. For example, let’s say you read a review where the heater didn’t work during winter renting. Before you receive your guests, you can ensure that everything is working accordingly.

2. Insurance

Sometimes guests can leave a mess and break things. Other times, items can go missing. You want to be insured when or if these unfortunate things happen. Usually, people have regular home insurance, but if you apply for Airbnb rentals, you will need to double-check if your insurance applies.

Make sure your home insurance applies to your rental.

Contact your home insurance company to see how it works or if you need to go to a broker specialist to get liability insurance. Although Airbnb offers a Host’s Guarantee, there are always exemptions. The company also states that this option does not replace actual insurance.

3. Legal Renting

There are a few legalities you need to do first before becoming an Airbnb host. You will need to check with your landlord, mortgage provider, and local council to verify if there are any permits you should have.

Some leases do not let occupants from renting or sub-renting, so you always need to check the fine print. Mortgage companies need to get notified as well. It is in case the mortgage contract needs to be updated or changed entirely. You can also be liable for extra fees when you start renting.

If you own your house, as a full-time Airbnb host, you might need to register for a change of use. Sometimes when you change the use of a property, you need to obtain permission.

Experts at UpperKey explain how short term rental in London is only legal for up to 90 days per year. If you go above, you need to get a licence. There are many rules and regulations you should check before becoming an Airbnb owner.

4. Time

Booking an Airbnb property is different from booking a hotel room. Clients only need to make one interaction to book a hotel room, and the rest is automated. Unlike traditional hotels, Airbnb owners should dedicate extra time to make it work.

Travellers usually have multiple interactions with the host before getting to the location. Generally, they introduce themselves and provide a check-in hour. The host then must approve the booking and confirm whether the check-in hour is appropriate or not.

Once the details get sorted out, the booking gets confirmed. Some locations can be too intricate to reach, so it’s up to the host to meet the travellers at designated points to show them around. It takes more time and dedication to grow your Airbnb business.

5. Short Term Letting Agents

If you do not have enough time to handle renting on Airbnb, you can always work with Airbnb letting agents or property management companies such as UpperKey who are experienced with short term lettings management UK wide.

Professional companies know the ins and outs of managing properties, and you can rest assured your house is in good hands. You can take the backseat while they deal with the paperwork and handle the account while you earn passive income.

While you still need to pay a fee for each stay, or a monthly fee depending on which agency you work with, at least you will know everything is in order. Your guests or short-term tenants will get a proper welcome into their new place.

6. Quality Photographs

The photographs are the first thing potential customers see when they go through Airbnb listings. Taking high-quality pictures of your house/room is essential. Knowing how Airbnb property management UK works will save you lots of time.

Taking expert pictures will enhance the property's appeal. You should always photograph from good angles with enough light so people can inspect the room. Take multiple shots of the amenities, especially the ones in the bathroom. Most people want to know if the bathroom comes with a shower or bath.

Hiring a professional photographer can help increase your property value.

Another way to impress travellers is to show pictures of outside elements. An overview of the house, balconies, rooftop terraces, or gardens will do. Snaps unrelated to the accommodation, like nearby sights, are unnecessary. People only want to see what they get when renting from you.

7. First Impressions

First impressions matter, especially if you are a business owner. If people think you are a reliable host, they will recommend you and leave fantastic reviews. Getting enough positive reviews will upgrade you to the SuperHost status.

Becoming a Superhost means your listing will show in the top results, and Airbnb will push it more to viewers. To impress your customers, you can give them tips on getting around, the best places to eat and drink, and other tourist information. You can always quickly reply to your guest’s queries to create a fantastic connection.

8. Airbnb Price

Renting from Airbnb is more cost-effective than opting for a hotel. It is the main reason people choose to go this way. Offer a competitive price to incentivise potential guests to choose you over hotels or other listings.

Take into consideration that a lower price will attract more customers. In return, the more happy customers you get, the more you will receive positive reviews. When people see many positive reviews, there are more inclined to choose one listing over another. It becomes a full circle.

9. Self Check-In/Check-Out for Airbnb Guests

Another way to increase the user experience for guests is to offer them the possibility of self-check-in/check-out. A flexible host is more appealing rather than one with strict hours. Sometimes flights get delayed, buses are late, and these sorts of things can impact the arrival time.

You can install a lock box to not wait around after your guests and vice versa. This way, guests will have access to the accommodation whenever they arrive, even in the middle of the night. You can set up some ground rules for self-checkout to ensure a smooth experience. For example, turn off all the lights before leaving. This way, you minimalise potential confusion.

10. Airbnb Cleaning Service

To maximize your rental profit, you can tackle laundry and cleaning by yourself. It will require more of your free time, and it’s possible if you are a full-time Airbnb owner. However, cleaning after really short-term guests can be time-consuming, which makes renting more complicated. If you plan to do this as a side business, you can invest in a professional cleaning service.

Some hosts outsource this task and charge guests a cleaning fee when they book their homes. They charge a small amount and make the listing look more professional.

Outsourcing a cleaning service can help save time.

11. Attention to Details

Superhosts achieve this status by providing the best accommodation possible concerning location and price. Another way is to equip the house with more than just the basic necessities. This attention to small details can leave a powerful impact on customers.

People will be surprised to find board games, cards, or DVDs as entertainment options. Extra amenities like tea or coffee make the place more welcoming and are bound to make people leave good reviews.

Some hosts even provide wine service at a price and even breakfast options. Other owners provide their cars for airport pick-ups. There are many other things you can offer to stand out and make a great impression.

12. Leave Guest Reviews on Airbnb

Leaving reviews works both ways. When a customer leaves you a review, you can also leave a comment on their page. It will make you look like an active and involved owner that cares about their guests. It will leave a mark on former travellers, who are more likely to recommend and share your listing.

Knowing how to manage your Airbnb business cat transform you from a regular host to a Superhost in a short time. Successful entrepreneurs know how to build trust with their guests and receive 5-star reviews constantly.