Conrad Hilton (founder of Hilton hotel chain) used to say, « It takes three things for a successful business – location, location, location. » And it seems that what was valid for hotels 70-80 years ago, applies today to Airbnb …
There are of course many more factors to consider as a host for Airbnb to maximize and increase your income. Beyond good pricing, you can also further optimize your Airbnb home experience – or you can let the experts take care of it.
Here are a few tips:
Just like for a hotel, your location is one of the determining factors for your pricing. And as a host, you need to be realistic about your expectations. It is obvious that an apartment on the heights of Montmartre will be more successful than an apartment in the vicinity of Bercy. However, the location is relative depending on the context. If you are located right next to the Palais des Sports, and Beyoncé is in concert on a weekend, you could set a higher rate at that time than during a weekend in normal times.
Our clients are attracted to our services because we maximize rates and therefore their income, while guaranteeing easy access to their apartment when needed. The summer period is a classic example where Paris is driven by tourists and hotels are complete, so this is the right time to put your apartment on Airbnb and potentially receive an annual rent in just 120 days.
What your last travelers thought of you is exactly what your future travelers think you are. It is essential to make sure that they have a memorable stay so that those you are going to stay have the certainty of enjoying your apartment. At Hostmaker we improve their experience by quickly answering their questions, by recruiting our own cleaning team and our own Parisian and sparkling reception team to welcome your travelers.
Deadline for implementation
There is an ideal delay in receiving the best bookings. On average, the best bookings in terms of prices are made between 30 and 40 days before arrival. Knowing this deadline gives you ample time to maximize your income, while giving you the flexibility to adjust prices according to demand, in case there are vacancies in the calendar.
Whether travelers compare prices from hotels to Airbnb apartments, or that their choice is based solely on price, this is a myth. Unlike a hotel, travelers have the option of booking the size of the apartment that best suits their needs and they do not have to stay in separate hotel rooms. This makes a 2 bedroom apartment with a sofa bed (which can therefore accommodate 6 people) much more attractive than 3 separate rooms in a hotel. Of course, there are several parameters, such as the unique charm of the apartment or the reason for the stay.
Even if you are not a fan of tennis, you can become one if you host travelers at the Masters of Paris. All the matches are held in Bercy, so it is not surprising that in this neighborhood the hosts are used to increasing their rates compared to the hosts located in other more central neighborhoods, despite the fact that October is considered As an off-season period (These price increases also take place during other sporting or cultural events in Paris). There are of course many other tips that could determine the price of your Airbnb apartment. If you want to know more, call us!