Airbnb is a game changing eco-system, and while it features everything you need to comfortably start your business, there’s also a number of third-party companies that can greatly streamline your journey. Plus, these apps can even increase your return of investment tremendously.
Pricing is a tricky subject, and you should never keep your rates the same for every day of the year. When there’s a major festival or perfect weather, it makes sense to charge more. However, in the off-season, you’ll want to quickly lower your prices to stay competitive. Instead of constantly checking nearby properties, studying trends, and busting out the calculator, you can use a service like Beyond Pricing to automatically have the perfect price.
Beyond Pricing is one the most popular apps of its kind, and all you have to do is link your Airbnb account to get started. The service will then accumulate all of the data and trends of nearby properties to see which prices work best at what time. The app will automatically change your price each day, even if it’s a tiny amount, so you can stay competitive in this highly competitive market. On average, users have found that they increased their revenue by nearly 20-40% after switching to this service.
We have review several Airbnb Pricing Tools for you.
Streamlined Property Management
Services like Guesty simplify your management responsibilities by putting all of your data into one piece of software. From here, you can effortlessly set cleaning tasks, confirm and track payments, and get instant notifications about what’s going on with your business. This software among other similar types can also automate responses for you so you never have to rush to respond.
Software like this can be immensely beneficial if you have multiple properties or are busy with other ventures. You can simply use it as an organizational tool, or you can opt for more personalized services that come with receptionists and account guides.
Check out our list of Property Management Systems
Full Service Management
These full-service management companies will prepare your listings, take care of check-ins and checkouts, and they will write all of the reviews and responses for you. With the software-only systems, you’re simply organizing everything into one simplified place; but with management companies, you’re handing over the key to your business. Deciding which to go with, or even if you want one at all, depends on a number of circumstances. Study the offerings to see if they can tangibly help your business, and compare the cost of the services to the potential increase in profit you’ll get. They may not always be worth it, but if your business expands beyond what you’re comfortable with, they can be an essential tool for keeping everything under control.
Some tips to know if you should start using a Management Company