If you plan on making a venture investing in your own property and turning it into a vacation rental, it is a good idea to know the realities of this decision. There are properties out there that earn a good amount of money. Unfortunately, not all Airbnb rentals can be considered successful. For this reason, Steve Barbarich Airbnb is quite picky when it comes to choosing properties. So what are the most common reasons why properties are actually not earning money the way they should?
Keep in mind that some of these problems that we are going to mention can be corrected. Unfortunately, there are those problems that can’t be solved anymore. Simply put, there are properties that are simply not meant for this kind of business. So what exactly makes some Airbnb rentals fail?
Location is key
There are some properties that are not located in a good location. So what makes a good location? A good location is somewhere near a tourist spot. It is also imperative that the location of the property is safe. Safety is a primary concern for many vacation goers.
If the property is located in a bad spot, then there really is nothing that you can do to make this a good option for many vacation goers. The only way that you can attract people to rent on your property is to bring the price down. However, there are times when it isn’t actually practical anymore.
Another reason why some properties aren’t earning as much is because of the season. For instance, if you have a property to be rented out because it is near the beach, you don’t expect people to go to the location if it is raining hard.
This is something that you simply can’t control as well. In fact, you may have no other choice but to also drop the price during the off-peak season.
Not having the best photos
You also need to make sure that you are going to take the best angles for your property. This can be a simple problem that can be solved using a good camera. In fact, today, you can even make use of your own phone. Just try to add a good lighting to make the property stand out.
The property isn’t professionally managed
You have to consider the reality that your guest will be expecting you to take care of them professionally. Though you are offering something that is typically used as an alternative to a hotel, there are some guests that have high expectations towards your property.
You want to make sure that the rooms are clean and that there is someone who can take the call or answer questions whenever the guest has a number of concerns. Keep in mind that it is a common complaint by different guests that their host isn’t professional enough when it comes to handling these concerns.
If you really want to make some money using your property, you have to be prepared to take your best foot forward. This way, you will be able to have repeat customers and even get recommendations from other people who visited your property.