Factors to Consider When Investing in an Airbnb Vacation Rental

There was once a time when hotels and motels were the only options to stay overnight when traveling. Thanks to Airbnb and other “homeshare” services, this is no longer the case. But Airbnb offers much more than just a place to stay. For a homeowner, by utilizing Airbnb, you now have an investment opportunity.

Big investments don’t always mean big buildings, buying companies, or betting on high-risk stock options. Big investments can also come in small, disguised packages that aren’t always evident. The fact is, your vacation rental could become a literal goldmine with Airbnb.

The trick with making Airbnb work for you is all about the services you offer, the crafting of your listing, and the area in which you live. For those interested in seeing how much money you can potentially earn with Airbnb, the following article will unpack the details of how to make this a reality.

Why Location Matters

Just like any business owner learns, the success of your endeavor largely depends on location. Basically, if you live in the middle of the desert and you want to rent your home as part of Airbnb, chances are you probably won’t have too many people clicking on your listing.

Of course, you might get a few desert enthusiasts or random travelers from time to time. But this isn’t exactly a premier destination that most vacationers frequent.

The key to making your location intriguing, no matter where you live, is by describing the aesthetic qualities that your location offers. So, if you live on a cliff, chances are describing a “cliff view” with sunsets that are the paragon of all sunsets would be a logical way to try and entice a potential customer to stay at your home.

We can’t all live on the beach, either. But if you live close enough to the beach, a short drive or walk to get there is also worth mentioning on your listing. The bottom line is, mention the great parts about your location, especially if your home is located in a remote, or lesser-traveled area.

Amenities Do Matter

According to a survey conducted by Airbnb, reporting showed that 97 percent of those surveyed claimed that amenities play a huge role in deciding where to stay. And this should be fairly obvious. People crave a catered experience, and the more you offer during a stay, the more attractive that offer becomes.

For most people, convenience is king. Travelers want to be catered to, but they also want convenience and comfort. When your amenities check all these boxes, you’re playing with a winning hand.

In truth, when it comes to amenities it’s really the simplest of things that people want. And, whereas you might think that most travelers would prefer WiFi as a top amenity, it’s actually air-conditioning that tops the list along with pools.

Simple things like a kitchen stocked with cooking utensils, glasses, and flatware are all items that people look for when deciding on where to stay. If your listing reflects that basic needs and desires will be met through your amenities, chances are your listing will be visited often and you’ll be able to charge a higher stay price.

Make Your Investment Bigger

The great thing about owning a vacation rental is that you can modify it to suit any style. If you’re interested in targeting a certain clientele, you’ll be able to do this by modifying your amenities, and your home.

Let’s put it this way, a vacation home with a picnic table is great. But a vacation home with a courtyard and a pool is even better. And if you choose to sell your home later on, these additions only add value.

If you’re in business to make money, you’re going to have to spend a little to make the kind of income that you envision for yourself. This means making additions that add value, quality, and convenience for your guests. In doing this, you’ll be able to grow your listing and its earning potential.

This article does not necessarily reflect the opinions of the editors or the management of EconoTimes