EP175: How to Integrate Airbnb in Your Real Estate Business
Summary
This article discusses integrating Airbnb into a real estate business through a re-leasing model. It offers insights into selecting suitable properties, determining your target guest, and designing an appealing Airbnb listing. Hosts can learn how to potentially double ROI through short-term rentals.
Key Insights
- •Eric suggests a budget of $5,000—$7,000 for furniture and painting.
- •Eric Moeller determined he could double his ROI by pursuing short-term rentals rather than long-term rentals.
- •With 70% occupancy, re-leasing should generate 2X the amount of rent.
Action Items
- ✓Research properties in your area on Airbnb to determine your target guest and note design and amenities.Effort: lowImpact: medium
- ✓Analyze the numbers to determine ROI.Effort: mediumImpact: medium
Tools & Resources
- →Get Paid For Your Pad: Listen to the episode on Get Paid For Your Pad.
- →AirDNA: Utilize tools like AirDNA and Rent Responsibly.
More from Growth & Marketing
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This article discusses the emergence of a new platform designed as an 'Airbnb' for hourly creative spaces. It aims to solve the difficulties creators face when finding and renting spaces. While not directly about STRs, it highlights a potential niche market that could be applicable to hosts considering offering hourly space rentals, indicating a shift towards accommodating creative industries.
Airbnb is offering a $750 incentive to attract new hosts to list their properties for the World Cup. This move aims to ensure sufficient accommodation for visitors during the event. This initiative highlights the importance of short-term rentals in accommodating large-scale events and provides a financial benefit for new hosts.
Curated by Learn STR by GoStudioM