3 Tips to Increase Airbnb Demand

What’s up guys, in today’s video, I’m gonna be sharing with you my three tips to increase the demand for your short term rental property. Now in this video, I’m literally going to show you exactly how to increase demand for a short term rental property, meaning more people that want to book your place. But before I do that, I do want to remind you guys that there are, as we’ve discussed, in other videos, a number of different things that could be causing your slowdown, if you’re clicking through to this video, I suspect that you probably have gotten a few viewer bookings than you are hoping to get. And so I just want to remind you guys that more traffic and more demand for your listing isn’t necessarily going to actually fix the problem. Being able to identify why you’re not getting as many bookings in the first place is the first step. And it’s not always because you don’t have enough demand for the property. With that being said, let’s jump into it, I do want to share with you in case demand is the issue a couple of ways that you can ratchet it up. So number one, pretty basic, pretty obvious, lower your price, I’m not going to go into this too, too much. But I do want to include it in this video, because I think it’s one of those ones that so many people just overlook and don’t think about. But just naturally in any given market, there’s gonna be more people who want to book a property for $100, or more than there are people that want to book a property for $1,000 or more, you’re just lower your pricing is going to give you more access to more demand. So again, it’s not always the thing you should do, but that will increase demand. And for those of you who are, you know, have ego in the way of lowering your prices, who think your property is just worth this much, and I’m never going to lower my price beyond that. This advice is for you, you’ve got to be able to lower your price in order to optimise returns. If you’re okay with leaving money on the table, that’s a different story. But if you actually want to optimise the performance of your property, it’s better to get some money than no money at all. So keeping your price super high. And then not having those dates Get Booked isn’t always the best strategy. So you have to know know exactly when to lower your price and when to do it the right way. But that will increase your demand. Now, next tip for you is a little bit more of an advanced one. I don’t recommend playing around with this too too much. If you’re just getting started, you’re new to short term rentals and optimising performance dialling and pricing, but it’s gonna be playing around with your minimum night stay. Now, by and large, I recommend at least a two night minimum stay for just about every property with a few small exceptions, I’ve found that having one night stays is going to open you up to a lot of issues. So in smaller properties and urban centres like a one bedroom or studio apartment, sure, maybe where you’re going to be kind of hotel equivalent, one night stays are going to be worthwhile. But for the majority of properties out there two nights or longer, you’re just going to avoid a lot of issues by doing that and make your life a whole lot simpler is my experience. And so what you want to do is play around with your minimum night stay settings to just be able to fluctuate the demand for your property. Again, naturally, if there’s this many people that are looking to book a property for four nights, or more than there’s going to be this many people who are looking to book a private property for three nights or more. And then this many people looking to book a property for two nights or more. And so by lowering your minimum night stay, you’re increasing the amount of demand overall for your property. Now, what’s really cool about this is that because you increase your demand, without changing the price, you can actually increase your price at the same time as doing this so that you bring your demand back down a little bit. But you can get a higher nightly rate given that you’re going to be renting out for a shorter length of stay. That’s how you can kind of use the first and second tip in tandem. But overall, one of the things that I love to do is what we found is that in slow season, if you just lower your minimum night stay a lot of the time you can avoid having to drop your pricing down to the floor, you can still get high quality guests but just have them staying for a little bit shorter. And again, getting two nights booked is a lot better than getting zero nights booked if you have that three night minimum stay and just sit vacant. So again, not something I recommend playing around with too much I would recommend keeping it super basic and just having a two night minimum stay and not playing with that at all for most people when they’re just getting started. But if you are more advanced and you’ve been playing around with three or four night minimum stays or longer than just naturally decreasing that is going to increase the demand for your property. Now the third thing that you can do and this is again an even more advanced tip, guys just want to take a quick break here to say that for those of you watching who want to build cashflow, and long term wealth by purchasing Airbnb and short term rental properties, there’s a link in the description right down below for a free training that will walk you through my exact strategy for investing successfully in Airbnb ease. Now if you’re not ready to actually buy properties and you want to get started managing other people’s properties on Airbnb the same way I got started and build a full time income managing other people’s properties. There’s actually another free training link to the description down below as well, there’ll be a really great fit for you. So whether you want to invest in short term rental properties and actually build amazing cash flow and long term wealth by acquiring the assets, buying the properties themselves, or you’re looking to earn a full time income, managing other people’s properties on Airbnb, we’ve got some awesome trainings that are linked in the description down below, that will definitely help you out. When you sign up for the trainings, we’re also going to send you a few other tools and resources completely for free just to help you get started. Again, the links to sign up are in the description down below. And both trainings and all the tools are completely free. So make sure to register for the trainings, links in the description down below. The third thing that you can do, and this is again, an even more advanced tip, and I think a lot of people actually do this right off the bat, which I do not recommend. But this is something that I recommend, if you’re more advanced and you’re more dialled in is expanding to other platforms. So naturally, again, if you’re listed on one platform, like for example, Airbnb, then if you list on two, you’re gonna get a boost in the amount of demand for your property, because some people only look for places to stay on VRBO or only look on, let’s say, Instagram, if you’re going promoting your property there. So by expanding out to other platforms, you can just increase the overall demand for your property, which again, may give you the flexibility to increase your prices or to to increase your minimum that like the state. So again, all three of these can be used in combination with one another to varying extents. But the reason I don’t recommend expanding to multiple platforms right off the bat is because each one is nuanced. Each one’s a little bit different. Airbnb is by far the easiest, most intuitive platform to use. And so if you aren’t doing a really great job there, and then suddenly you have a bunch of problems that you’re not really doing great, you’re really under optimised and then you expand on to VRBO, let’s say, it just means you’re going to be expanding a problem expanding a system that ultimately isn’t really working that well to begin with. And so it’s probably not actually going to make a positive impact, it’s probably gonna be a negative impact overall on your life and your listings performance. So I would recommend expanding out to other platforms, when you’re ready to do so. And do it in the right way. We’ve got other videos on this channel that explain and go into some of the nuances of the different platforms, and the ins and outs of them how to optimise differently on different platforms. But if you want to learn more about that, like I said, that’s in other videos on this channel. This is another tip though that I wanted to give is that you can just expand other platforms to increase your demand for your property. Now, with that in mind, again, just really want to reiterate and stress here that not all platforms are created equal. So there’s a right and a wrong way to do this. For example, if you’re going to expand onto let’s say, Instagram and try to drive a direct booking strategy, or what I see a lot of people making mistakes with is they’ll go and just do paid ads, those things are going to be really high risk. Because if you’re not, you don’t have insurance on the platform, you’re using your own payment processor, you’re doing all your own guest screening, and you’re potentially putting your own money behind advertising on this, then there’s just a lot more risk as opposed to expanding on to a platform that you’re familiar with where you can minimise that risk and do it the right way. So I do caution on that. But with that being said, those are my three tips for how you can increase demand for your property. If you want to learn more about different ways to increase the performance overall of your property, then let me know in the comment section down below what questions you have or what insights you’d like to get my thoughts or opinions on. And as always, if you’d like this video, hit the thumbs up button, give the video a like. 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