How to make your real estate investment earn on Airbnb

By
Real Estate Agent with Lebrau Property

Anyone can turn an affordable luxury accommodation into a highly sought after listing on Airbnb. You can make it so your apartment or house is always fully booked. Here are four simple tips to do that trick.

Prime locations is key
People often think that you must always purchase real estate at the heart of the action. It’s the most expensive and high in demand. However, it is often overlooked that many people might forgo convenience if they cannot afford it and choose to live someplace a little further, opting to commute a little longer if it means they can save more.

Therefore, even if not in the hub, as long as it is within a reasonable commute, there’s no reason why it shouldn’t be as popular as one right smack in the middle of the city - especially if the price tag is half of what they will get living downtown.

Also, if it’s remote enough, it can also be considered a prime location for people who want to get away from the city, but not wanting to go too far. Think of it as a staycation spot for weekenders. Before purchasing your home, think about what you want it to be eventually. Think first about what you want, perhaps in the future it can be your holiday home, or a studio apartment for the kids in the city. Then make the investment pay for itself by renting it out on Airbnb until such time when you need it.

Think about theme
Will your apartment be meant for a bachelor? A couple? Is it dog friendly or child proof? These are the things you must take into consideration prior to diving into interior designing. If its child or pet proof, you might want to add a few finishing touches, such as a bedroom slide for the kids or a fun little doghouse (or cat castle). This is also when you decide colour and if you want to give the entire place a concurrent theme. It can be from a fictitious world, such as Hogwart or from real life, and you can emulate an artic (or underwater) stay by setting up a teepee and painting the walls and ceiling the colors of the northern lights.

Unique selling points
What makes your apartment stand out from the rest? Is there a hot tub, a pool table? Preferably this unique selling point will tie in with your theme. So if it’s meant to be a bachelor pad, perhaps a theatre could be installed, or if it’s meant for the ladies, it won’t hurt to throw in a little walk in wardrobe or bath. If you’re hoping to draw in the artistic types, a studio or study. But if it’s meant to be a weekend getaway, you can opt for some entertainment type features such as a karaoke room. A unique selling point should be something that no other apartment in the vicinity offers, making it unique to yours and yours alone.

Use online marketing and collaborate with locals
Create a Facebook page, make a listing on other room-renting websites such as Booking or Agoda. You want to make sure that your page is accessible everywhere and information easily found. Collaborating with local influencers is also one of the many ways to break into the market and stay relevant. When enough people know about your accommodation and if it ticks all of the boxes, you don’t have to worry about additional marketing because the place will virtually market itself.

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Topic:
Real Estate Best Practices
Tags:
renting
airbnb
optimized real estate

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Craig Lebrau

Property Geek in Upper East Side NYC
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