Airbnb Someone Else’s Property?
The birth of the home-sharing industry has brought business-minded people in unison to earn a handsome amount of profit monthly. For this example, Airbnb has allowed property and homeowners to get on their feet and start a short-term renting investment. It may have its pros and cons, but one thing’s for sure it still thrives for both travellers and hosts.
Airbnb in Canada is used mostly in highly crowded cities such as Vancouver, Toronto, and Ontario. There are restrictions imposed on short-term renting, especially in apartment buildings and condominiums, but condo boards and property owners let their tenants use it for Airbnb. But if you’re an aspiring property manager who wants to Airbnb someone else’s property, here are some tips and tricks to consider before anything else.
How do you do that?
If you plan to manage someone else’s property, you have to build a reputation first. You can’t just waltz into the picture without having good credibility and authority and expect them to let you manage their property. Fraud and scam are pervasive, and trust should transpire between you and the homeowner. The rest will follow in the course of time.
So, how do you build trust? Gain experience. Everyone in the industry started learning the best practices and applying them to the properties of each handle. Potential clients need a company that can cater to their needs and be displayed while interacting with them. Your capacity and experience are one factor that they’ll consider before anything else – so you have to work on it.
Investing valuable time
Your business won’t grow if you don’t invest time and effort into it. As someone who wants to Airbnb another property, you should devote a number of hours attending, responding to inquires, contacting cleaners, updating the calendars, and more.
If you have prior experience, running an Airbnb requires you to be available to your guests at a given moment. If you prefer physical interactions, then you can be present when handing over the keys or if you need to know the guests better as they’re going to stay and take care of your place. The more properties you handle, the more time it consumes, so you have to manage your time correctly, set what’s more important, and the rest will follow.
Realize the legalities
Short-term renting is accepted in some cities and countries as long as you know the legalities before you start accommodating guests. Airbnb is frowned upon by traditional property owners as they either haven’t grasped the process of short-term rentals or they find this style tiresome and inconvenient. Thus, it’s your job to educate these people to build trust and empathy to take a leap of faith in venturing into the home-sharing industry.
You must first attain information if your condo board or property owner allows short-term renting or subletting for additional income. Some cities allow it as long as you have a license issued by your local government and the condo board’s full consent. There might be fees here and there, but you will eventually get it back once you start generating reservations.
Furnished homes or spaces are a must!
You can’t run an Airbnb business if the properties you handle are hollow and flat – without amenities inside. Once you enlist a property, you have to make sure at least the basic ones are there:
- Bath towels
- Clean bedsheets and pillowcases
There should be ample space where your guest can cook food and cleaning apparatuses to maintain the place.
The property should be flexible enough to entertain different types of guests. Business travellers prefer those with conducive working spaces, while families prefer a homey vibe with kid-friendly and safety features. You can also showcase how accessible the property is, like a 3-minute walk to grocery stores or a 5-minute drive to the airport. This way, you can attract more guests who will likely book a night or two.
Guests appreciate thoughtful gestures. You can include personal touches such as stocking up coffee or tea, extra towels and linens, and a fast internet connection. Almost all guests bring their cell phones and laptops with them, so take it into consideration to leave a positive experience after their stay.
Cleanliness is everything
Cleaning and maintaining the property is an essential step to gain good traction. Clean it as if you’re the guest who will stay for a time period. Make your guests feel the space is adequately sanitized and smells good when they arrive. Trust us; it will leave a good impression.
Guests can leave reviews, and it’s better to start right so it will end right. What we mean here is in order for your guests to leave you a positive review, the property should be welcoming, complete with amenities, and you were able to meet their expectations. Some will forget about a missing cable wire, but they will certainly not forget a stinky property.
Continually produce results
Producing positive results must be one of your end goals here. If you’re managing multiple properties, you have to make sure that each property has a steady stream of bookings. To make your clients happy and satisfied, a fair amount of revenue is one way to keep them. Let them feel that you’re in charge of everything.
The experience you gained after all those years managing reservations will translate to the results you develop. The more you generate, the more clients you will attract as they’ve seen how you work to make it happen. Keep yourself with the best practices so you can realign and reassess your methods and techniques from time to time.
Prowess Property Management offers up-to-date services and has served clients across Canada. From beach houses to chic apartments, we’ve got you covered. We would be happy to hear what’s on your mind with regard to your property’s potential. Give us a call at 1-888-538-7769 or e-mail your queries at email@example.com