With stunning natural wonders, beautiful beaches, and vibrant nightlife, it is easy to understand why Perth is one of Australia’s most popular destinations.
Due to Perth’s fashionable nature, it is also no surprise that visitors to the city love to go upmarket with their accommodation. As a result, it makes sense for you to list a luxurious property on Airbnb for rent.
After all, there are several advantages of using Airbnb rather than renting traditionally. Yet before you can start profiting from this venture, there are various points to take into consideration before listing your property on Airbnb. The following article will list five points to ponder.
1. Getting set up
Your first step is setting up your Airbnb listing – which can take longer than you may expect. You will have to craft a detailed, accurate description. Visually appealing images of your property are a necessity.
It is also vital to look at the other luxury listings in Perth to see what type of pricing is standard. If you feel that your property is superior and people will pay for it, you can charge more than others – although you may have to go through a game of trial and error before you hit that optimum pricing.
2. Dealing with emergencies
Unless you are willing to cut into your profits by hiring a listing manager, it will be your responsibility to deal with any property-related emergencies. This can be particularly time-consuming if you are not prepped for the potential emergencies you will face.
For example, the water heater could suddenly stop working and require fixing right away. This way, you will need the right plumber on speed dial. For instance, Pascoe’s is a reputable Perth emergency plumber that can sort out issues straight away – and before your next guests are scheduled to arrive.
3. Analyzing the competition
Remember: running an Airbnb is ultimately a business. This means you have to cover all of the standard aspects of running a company, like marketing and customer service. Another vital point is to conduct market research and analyze the competition.
Besides the price as mentioned above, researching the competition will give you a greater idea about what works in terms of the description, presentation, and extra perks that entice customers to choose their place.
4. Potential loss
As much as you vet guests and set rules, it is inevitable that your property will suffer losses during your Airbnb adventure. This can include everything from damaged furniture and stolen items. While Airbnb Host Guarantee can protect you in cases like these, you still need to prepare for potential loss, and make sure that you have appropriate insurance.
5. Keeping up with feedback
When guests start staying at your property, they are going to start leaving reviews. These reviews can provide you with an excellent insight into the type of expectations and improvements your guests seek. The result: you can further refine your property and deliver a greater customer experience.