Kristina Storey's Blog: 4 Ways to Streamline Your Airbnb Business

Sunday, 29 October 2017

4 Ways to Streamline Your Airbnb Business

If you own a lot of rental properties, you already know that you need to find ways to maximize the cash flow from these investments. To that end, since the advent of Airbnb, many hosts have started listing their properties for rent on this site.

With the right approach and a little help, you will be able to reduce the amount of time that you spend handling the details of renting your property. That will give you more time to enjoy the profit this can generate. Here are just some of the ways you can make Airbnb management easier and more efficient.

1. Engage the Right Cleaning Service

The main thing you need to consider when you’re trying to keep your Airbnb appealing is keeping it clean. Therefore, after guests check out, you have to make sure the rental is cleaned thoroughly.

If you are like most people, you do not have the time to do this type of work on your own. This is especially true if you are a host with multiple listings. Ideally, you will want to hire a cleaning service that is available 24/7 and experienced in the cleaning of Airbnb rentals.

Get a few onsite estimates to narrow down the list of available cleaning companies in your area. In case you don’t want to spend too much for cleaning company services, you can hire a cleaner who will do the job. Ask your friends for recommendations. Sometimes even in your neighborhood you can find some outstanding candidates.

2. Find the Right Automation Software

Keeping up with all of the details of renting an Airbnb can be difficult. Rather than making mistakes regarding the managing of your vacation rental business, getting Airbnb automation software is a great option.

When you’re looking for software to use for this purpose, you will need to get an idea of the jobs it can handle. Getting a piece of comprehensive software to help with things like communications with guests, bookings, maintenance and customer management is a great way to save time and effort.

Especially take into account that some of them, like AirGMS, offer a free subscription plan. In order to find out more about a particular software, however, you will need to do your homework. Find out what other Airbnb owners have to say about a particular program. By doing this, you will have no problem narrowing the selection of available automation programs out there.

Also, there are some software review platforms like G2Crowd where you can compare different options.

3. Get Help with Your Airbnb Finances

Before starting to rent out your home or apartment on Airbnb, you need to set up a separate account for the income this will generate. Trying to put this money into a personal bank account will create a lot of problems when tax time rolls around.

You will also need to seek out some help from an accountant as well to keep your finances straight. They will help you with managing your money as well as the taxes that you have to file each year. Additionally, you will be able to find out what type of tax deductions you can qualify for. The last thing you want to do is pass up a chance to write off some of the expenses associated with owning a rental property due to a lack of knowledge.

4. Buy Supplies from One Place

Usually, you will have a variety of supplies to buy in order to keep your Airbnb rental looking great. The best thing you can do when you need supplies is to buy them from one place. By doing this, you will be able to get the best possible deal.

If at all possible, set up a commercial account so you can get the supplies you need tax-free. You will have to do a bit of research in order to figure out which of the suppliers in your area can offer you the best deal on the things you need. The time you invest into this research will pay off when you are able to make an informed decision.

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