There is no denying that the travel industry has been affected by the pandemic in the last 15 months or so. Airlines had to furlough their employees while cruises have to stop their operations. And because of this, the vacation rental industry has also been affected. The effect of the pandemic on the travel industry has trickled down to the small players who put up their real estate properties on Airbnb.
In case you are new to the vacation rental industry, you might be thinking about whether or not it is a good idea to invest your money in this type of business. Steve Barbarich has explored the vacation rental industry both in its highs and lows. He has come up with different approaches that allowed hosts to find success in the industry.
During the pandemic, it requires a bit of creativity to be able to find your niche and gain profits. Here are some strategies that can come in handy.
Focus on longer bookings
A lot of people nowadays want to stay longer in one place. Who could blame them? Travel restrictions have changed the way people live their lives. A lot of people stayed in one place for the longest time last year. Many are looking for a new place that they can explore. Some would stay for the entire week in one property only to jump to a nearby location. This also means that you only need fewer bookings every month.
Increase the price in exchange for more services
A lot of hosts are hesitant to increase their prices. And who could blame them considering the number of people who are still hesitant to travel? So why increase the price during this time? What you can do is offer more to your guests. For starters, you may offer them the entire property with no other guests. It means that even if they are paying more, the guest can be confident that they are not interacting with people who are strangers.
Ask for proof of vaccination
Vaccine passport is a highly debatable topic. Some people are still hesitant to show proof of vaccination saying that it’s a violation of their privacy. If you are looking to accept multiple guests, this might be a good idea to ask for proof of vaccination. If not, you can ask for a negative COVID19 test before accepting the guest. It can be a tricky process but it is for the good of all your guests.
Make the place conducive to work
Next, you also want to take advantage of the trend that companies are now letting people take their work at home. For those who are tired of working inside their home, vacation rentals can be a breath of fresh air for them as they can get exposed to a new environment. If you plan on attracting people who are going to work on your property, might as well invest in a good table and chairs.
Prioritize your cleaning and disinfection procedures
Sanitizing your property is a must for every after guest. You want to make sure that you also let your guests know that they are staying in a place that has been cleaned and sanitized.
Steve Barbarich Airbnb tips can help hosts from different parts of the world. It is possible to maximize your profits even during a pandemic.
