Countries all over the world have been impacted by COVID-19 with no end in sight. With many property owners and managers unable to rent out their properties due to stay-at-home orders and travel restrictions, they’re stuck wondering how they can make light of the situation.
Now is the time to stay positive. Take this as an opportunity to be able to do things that you couldn’t before (or maybe that you didn’t have time for). Below, we are going to cover Whome’s recommendations on how to capitalize on your newfound availability:
1. Assess the Condition of Your Property
With renters constantly coming and going from your Airbnb, you probably haven’t had a chance to properly take stock of its condition in quite some time. Pay special attention to air conditioning and heating elements, electronics, appliances, entrances, and flooring. These tend to need the most maintenance due to their high use and traffic. Replace or fix any broken light fixtures, outlet covers, or furniture pieces.
2. Complete a Deep Cleaning
In light of recent events with the Coronavirus, people have become hyperaware of the cleanliness of the places they visit. Knowing that your Airbnb is as clean as it can be will not only give your renters a better state of mind but you as well. We recommend cleaning and disinfecting with bleach solutions or any type of EPA-approved cleaners.
Now is the time to think about things that you tend not to think of when cleaning – like flipping mattresses, get rugs professionally cleaned, and scrubbing the trash can (that’s right, we said trash can). You never know what kinds of bacteria can live on these surfaces!
3. Go Back Through Reviews and Feedback
While you hope to please everyone, there will always be someone unhappy with something. Take the time to respond to each review – positive or negative – to keep your Airbnb top of mind with previous renters. Even though a negative review might seem like the end of the world, responding and offering to fix an issue can often turn a disgruntled renter into a repeat customer! Offering a solution shows that you care about your renters – something that potential renters love to see.
4. Rethink Decorations
Designs can change at the drop of a hat and many Airbnb renters want to stay at properties that reflect trendy styles. One of the best ways to find ideas on how to style your rental is by looking at social media – people love to share, like, and comment the most on trending décor styles. Another way you might find ideas is by directly searching the internet for hashtags like #moderndecor, #trendingdecor or #interiordesign.
Consider updating furniture or repainting cabinets for a more modern look. For those with a smaller budget, gathering stylish pillows and comfy throws can make all the difference in a comfy living room!
5. Invest in Added-Value Items
When people travel, they tend to want to stay in places that offer luxury and ease. Offering Wi-Fi, keyless entry, a Netflix subscription, smart appliances, and outside security are all added benefits renters will love! Don’t be afraid to take this time to invest in your property and upgrade it. This is a way that you can even increase your rates in the future!
6. Crunch Your Costs
With fewer people going through your Airbnb because of this virus, you’re likely losing out on a lot of revenue. To help offset that, take a look at your expenses. Can you cut back on any unnecessary subscriptions or fees? Could you sell any old furniture that doesn’t fit the space anymore? When you start to compare costs across several months, you just might notice a discrepancy in utility or trash bills you wouldn’t have noticed before.
7. Optimize Your Property for Businesses
Even with a pandemic, some essential businesses are still forced to travel. Keep your Airbnb a top pick by offering 24-hour check-in, a comfortable office area, and even leaving travel-size bottles of necessities businessmen and women might have forgotten at home (shampoo, body wash, toothpaste, etc.).
Another way to entice businesses to use your property is to act as an expert in the community. Compile a list of great restaurants and coffee shops, favorite cab drivers, quickest routes to the airport, and best happy hours to add that last little touch of helpfulness.
8. Update Your Listing
What can you do to make your listing sound more appealing to your target renter? You could hire a professional photographer or videographer to showcase the property, entirely rewrite the description of the rental, or even ask past renters to leave reviews if they forgot to! Highlight the best parts of your property and use enticing language to hook your potential renter. Anything that can add or boost the appeal to your property, you should do.
9. Research How to List Your Property on Other Sites
It’s no secret that the more ‘visible’ your property is online, the more likely it is to get booked. Take this opportunity to look into setting up your rental on sites like Booking.com, VRBO, FlipKey, and Expedia. The more listings you have, the easier it will be for people all around the world who use different platforms to find you!
10. Consider Hiring a Property Management Company
Maintaining a rental property is no easy feat – but it can be when you don’t have to worry about any issues that might arise. Property managers can take the stress out of your investment so you can go on to do bigger and even better things. Whether you need full management or simply consultancy services during this uncertain time, you can rest assured that Whome has your property in good hands.
Final Thoughts to Consider
With social distancing in full force, we want you to be safe. During this pandemic, we want you to know that we’re here for you – no matter what you’re in need of. We would love to lend a helping hand to you so that you can spend your time on other things. Contact Whome for further advice on how you can come out of this crisis in full force. To comply with stay-at-home regulations, we can meet with you virtually and consult or give advice on your property management! Get in touch with us today to see how we can help.