EP161: Lessons Learned From 7 Years of Airbnb Hosting in Taipei
Summary
This article discusses lessons learned from a 7-year Airbnb hosting career in Taipei. It offers insights into negotiating with landlords, adapting to market changes (like Smart Pricing), and managing guest relationships. Hosts can learn strategies for property management and guest communication.
Key Insights
- •The introduction of Airbnb's Smart Pricing significantly altered the market, coinciding with Chinese policy reducing tourism to Taipei.
- •The article references revenue management routines and workflows for short-term rentals and offers insights on how to manage booking windows, pacing, and pricing.
Action Items
- ✓Understand the landlord's relationship with neighbors to mitigate potential issues when renting units for Airbnb.Effort: lowImpact: medium
- ✓Take the high road with unpleasant guests, even if it isn’t fair to maintain positive reviews and a good reputation.Effort: lowImpact: medium
Tools & Resources
- →Get Paid For Your Pad: This article is an episode from 'Get Paid For Your Pad' podcast.(getpaidforyourpad.com)
- →Hostfully.com: The article mentions Hostfully.com as a tool to create custom digital guidebooks.(hostfully.com)
Common Mistakes
- ⚠The article highlights that introducing Smart Pricing altered the market, a potential pitfall.
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Curated by Learn STR by GoStudioM