Most hosts quickly discover that making money on Airbnb can be real tough. That’s why so many of them drop out after a couple of rentals.
It does not have to be this way because there are lots of great Airbnb hacks that can enable even a novice host to start making money. Best of all, many of these hacks are free or low cost, yet few people think of them.
If you are sick and tired of not making any money with Airbnb rental here a few really great Airbnb hacks. None of these suggestions is a guaranteed money maker but they can make life easier and perhaps more profitable. Nor is every one of these hacks for everybody but they can help you cash in on short term rentals.
The Best Airbnb Hacks Around
Some of the best Airbnb Hacks around include:
- Rent multiple units on Airbnb. There is no limit to the number of units a host can rent out. That means if you have an extra rental unit or some extra cash to buy or lease another place consider renting it out on Airbnb. One big advantage to this is that you don’t have to share your pad with short term guests.
- Cater to business travelers. Business travelers are often a lot less fussy than vacationers, all a lot of them are looking for is a place to sleep. They’re more likely to be gone during the day and they travel all year round. There are some ways that you can optimize your place for business travel such as putting in high-speed internet or offering a free ride to and from the airport for guests.
- Take advantage of Airbnb Trips. Trips is a new feature that allows hosts to cash in on their passions and knowledge; by playing tour guide or creating experiences. Take a look at the Trips feature on Airbnb for some ideas. Creating a Trip is a great way for an Airbnb host with a lot of extra time such as a stay at home mom to increase bookings.
- Get yourself some extra working capital with Payfully. Payfully is a factoring service for Airbnb. That means it buys future or unpaid Airbnb bookings for cash. Hosts get extra cash right away; usually within 48 hours, and it will not affect your credit report or increase your debt load because it is not a loan. Among other things you will not have to buy it back.
- Buy your supplies in bulk online or through a membership warehouse like Sam’s Club or Costco. Both Sam’s and Costco offer business memberships. Online you can get a big discount buying supplies in bulk from Jet.com (with free shipping on orders over $35) or use Amazon Prime. To add icing to the cake your Amazon Prime, Sam’s or Costco membership and any supplies you order for your business are tax deductible.
- Make life easier by using a professional Airbnb cleaning service. There are a number of these around including GuestPrep; which operates in Denver, New York, Austin, and Washington DC. On the West Coast you can try MaidThis! Operates in Los Angeles, San Francisco and Orange County, California.
- Another way to cut down on your workload is to use a professional Airbnb property management company. There are number of these around including Host Tonight. Host handles everything including communications, listing, optimization, key exchange services and cleaning.
- Learn from the Super Hosts. The Super Hosts are rock stars of the Airbnb universe because they’re the guys and gals who are actually making money from short-term listings. Studying them and their listings can take your Airbnb business to the next level. One great to learn from a Super Host is to rent a place for one for the night or the week. Then take notes and learn from the best.
- Go the extra mile for guests. A good way to do this is to offer services other services don’t. For example offer to do grocery shopping, pet sitting, babysitting or errand running for your guests. Other simple things you can offer include cooking meals and driving guests to the airport or train station.
These hacks are not for everybody but they are a good place to start. Remember Airbnb is just like every other business the more knowledge and experience you get the more money you could make.
The good news is that a lot of real people here in the real world are making real money on Airbnb. All you need to join them is some imagination, persistence, patience, hard work and commitment.