You’ve ventured into the short-term property rental market by listing on Airbnb. You’re enjoying hosting guests and loving the extra income. Now, you’re wondering if going for gold with Airbnb’s Superhost Status is worth it?
From strategy to profitability
In short, absolutely! A strategic approach as well as your time and effort, do make a difference to your short-term rental profitability. So, for hosts wanting to provide exceptional and consistent experiences for their guests, read on.
Only top-performing hosts get the Superhost accolades, but once you’ve jumped through the hoops to get there – or outsourced them to an Airbnb property management company – the benefits include more search results, more guests, and ultimately more profit.
What to consider for your strategic plan?
If your account is in good standing then the Airbnb management criteria to reach Superhost status include:
- Completing at least 10 trips or 3 reservations that total at least 100 nights
- Maintaining a 90%, or higher, response rate
- Maintaining no more than a 1% cancellation rate (some exceptions that fall under Airbnb’s Extenuating Circumstances policy), and
- Maintaining a 4.8 overall rating (based on the date guests leave a review, not the date they checked out, over the past 365 days)
Tips for running your Airbnb property like a pro
Get ready for guests and be organized
To ensure you have no cancellations (or at least below 1%), your calendar is key. Make sure it’s always up to date with when your property’s available.
No slacking on communication
Maintaining a response rate of 90% or higher means you’ll need to respond to guests on the fly, or certainly within 24 hours. Apps are available to help handle messages or have someone manage the whole process for you.
When all is said and done
To achieve an overall rating of 4.8 or higher you need your guests’ experiences to be as faultless as possible. They’ll be ranking you on the accuracy of your listing, communication, cleanliness, location, the check-in process, and value.
Running your Airbnb property as profitably as possible
Improving your Airbnb income (and therefore your profit) takes considerable work, creativity and sacrifice. If you’re not willing (or able) to do this yourself, Airbnb rental management companies can do it for you.
Factors such as location, the size or capacity of your Airbnb, whether you’re open all year or just seasonally, and unexpected costs can all affect your income.
Of course, your ultimate goal will be getting as much from your investment as possible.
The devil’s in the detail
To impress guests and increase your income, here are our top tips:
- Make improvements to your property and offer as many amenities as possible for the best guest experience.
- Offer memorable experiences for your guests and give them a guide to the area so they can get the most from their stay.
- If possible, make your listing furbaby and kid-friendly, you’ll appeal to a far wider audience.
- Keep it clean – particularly with the ever-present threat of Covid, guests will appreciate knowing the property is professionally cleaned and germ-free.
- Digital nomads are guests too! Make your property work-friendly by providing workstations and high-speed internet for those who need to add a bit of work to their playtime.
- Got anything you can upsell to your guests? How about joining forces with a local restaurant or a spa, or offering a shuttle service or local tour? The options are limitless and guests will appreciate your thoughtfulness.
The profitability of your business is up to you
The diverse short-term rental options, competitive rates, and an easy-to-use platform all contribute to your ability to make Airbnb management a success.
Whether you choose to grow your short-term rental business and make it as profitable as possible or keep it as a side hustle is completely up to you. But if profitability is your goal, then achieving Superhost status will help you create trust and differentiate your property from the crowded listings.
Thinking of listing your property on Airbnb, but not keen on the day to day chores associated with it? Or just want someone else to manage your property? Give us a call on 086 111 2842 or email the team at mystay@ctha.co.za and we’ll send you our information pack immediately.
