Did you know Airbnb vacation rentals host more than half a billion guests each year?
Vacation rental sites like Airbnb, VRBO, and Booking.com have changed the way people travel. With 15 million tourists visiting Tampa, Florida, each year, the city is a significant player in the vacation rental space.
Tampa even made Fortune Builder’s list of Best Rental Markets in 2022, thanks to its high tourism and relatively low housing prices.
If you’re considering getting into the vacation rental game or already own an Airbnb in Tampa, working with a reputable Airbnb rental management company could boost your earnings significantly.
Experienced Airbnb owners earned an average of $21,000 in passive income in 2021. You could see the same results in a hot destination like Tampa if you properly manage your Airbnb or vacation rental.
Keep reading to learn how using a property manager can maximize your Airbnb revenue.
Happy Customers Drive Revenue
Your customers are on vacation. They want a fun, relaxing, memorable experience in Tampa. Having a great time is what they’re thinking about when browsing vacation rentals on Airbnb, VRBO, and other vacation rental sites.
According to a study by Airbnb, some of the top criteria Airbnb guests look for are:
- Reliable Wi-Fi
- A fully stocked kitchen
- Well-stocked toiletries and household essentials
- Easy self check-in
- Free parking
- Air conditioning
- Pets allowed
Not having one or more of these items can be a deal breaker, and even just one negative review can be disastrous to your bookings. That is why it’s essential to provide a top-notch experience that encourages positive reviews and minimizes negative comments.
Working with a professional Airbnb property management company like Emperor Airbnb Rental Management means your guests will have a positive experience. They are guaranteed excellent communication, a spotless environment, and everything they need to have a good time.
Working with a property manager ensures your Airbnb meets the basic requirements to make guests happy and can also take your Airbnb from “meh” to mesmerizing.
Achieving Airbnb Superhost Status
According to Air DNA, Airbnb Superhosts earn 60% more daily revenue than standard hosts. They enjoy more bookings, receive perks and bonuses, and have more visibility on the website. Qualifying as an Airbnb Superhost is an indisputable way to increase your cash flow.
Are you curious about what it takes to earn Superhost status? Here’s what Airbnb is looking for:
- Maintain a 4.8 or higher rating
- At least ten stays or three reservations that total 100+ nights
- Less than 1% cancellation rate
- Respond to 90% of messages within 24 hours
Airbnb checks all hosts every three months based on their previous 365 days to see if they qualify for Superhost status.
Becoming a Superhost is no easy feat. Only 19.4% of hosts earn the title. No person is an island — you improve your chances of making Superhost status if you get help.
When you begin working with a trusted property manager, you could start meeting Superhost criteria on a regular basis. Emperor Airbnb Rental Management has experience as a Superhost with several vacation rental properties. We design our services to meet and exceed Superhost standards.
Get Your Airbnb in Front of More People
Your Airbnb, VRBO, or vacation rental only generates income for you when travelers book it. Great reviews will increase your bookings, but what if you’re just starting out?
Getting your vacation rental in front of as many eyes as possible is key to increasing your booking rate. You need to post high-quality listings on as many vacation rental booking sites as possible.
Airbnb is the undisputed king of online vacation rentals with 150 million users worldwide, but overlooking other prominent players in the vacation rental space could mean losing thousands to missed opportunities.
VRBO has two million users worldwide. Booking.com has 420 million visitors each month. Flipkey has users in 190 countries and offers free listing for hosts.
But we get it — creating content for multiple websites and responding to inquiries across various platforms is a lot to juggle.
When you work with a property management company, we handle everything for you. Your property will be advertised on top websites, including Airbnb, VRBO, Flipkey, Expedia, Booking.com, and more.
We not only post and manage your listings, but we also create compelling descriptions and advertising copy based on proven marketing principles, including:
- An eye-catching name
- Vivid word choice
- Stellar Airbnb host profile
- Brief yet exciting descriptions
Studies show Airbnb users are more likely to book a property when the listing includes high-quality photos, an accurate and honest description, and a friendly host.
How you market your listing matters. Professional Airbnb management in Tampa will help your rental stand out from the crowd online. You can trust the experts at Emperor Airbnb Rental Management to handle your listings and get you more bookings.
Strategic Pricing to Maximize Your Airbnb Revenue
When pricing your Airbnb, you want to think like Goldilocks. Not too high, not too low — just right.
Overpricing your AirBnb will alienate guests who otherwise would have loved to book it.
On the other hand, shoppers tend to shy away from the lowest-priced Airbnb.
Underpricing can raise red flags and make vacationers think there’s something wrong with the property or that it’s in an unsafe area. It could also cause travelers with higher budgets to overlook your Airbnb.
Pricing right will attract the most interest and lead to the most bookings. But how do you determine the right price? We use a proven formula based on comparable listings in the area, extra fees such as pet fees, and market demand to determine the best possible price for your Airbnb.
Speaking of market demand, you need a pricing strategy that fluctuates based on your busy season, holidays, and off-season in order to maximize income.
Emperor Airbnb Rental Management handles all of this for you. We have proven strategies to determine your vacation rental’s most effective base price.
We adjust the price based on travel trends. When travel is slower, we offer discounts to encourage bookings. During busy travel periods, your Airbnb bumps back up to the full price.
Free Up Your Time to Expand Your Business
Vacation rentals are often touted as passive income sources. For many Airbnb owners, though, it doesn’t take long to realize their business may not be as “passive” as they had hoped.
There’s a lot that goes into running a successful Airbnb. Communication, scheduling, advertising, and cleaning are just a few. Without help, your Airbnb can start to feel like a full-time job.
When you free up your time, you can truly enjoy the perks of owning a passive income-generating business. For many, that means exploring new ways to invest.
Perhaps you want to add more vacation rentals to your portfolio. Real estate is a stable investment because values consistently go up over time. Investing in real estate offers tax breaks, cash flow, and equity building.
Maybe you want to improve the Airbnb you already own. There are all kinds of things you can do to create an irresistible Airbnb to increase demand and justify raising your prices. Some of the most profitable Airbnb amenities guests swoon over are:
- A washer and dryer
- A pool
- A dedicated workspace
- Outdoor dining/barbecue grill
- Baby items (changing table, baby gates)
- Pet items (bowls, toys)
- Extra towels and linens
- Accessibility features (step-free entry, wide entryways)
Whether you want to grow your real estate portfolio or improve the business you already have, you need time to think creatively and plan for the future. With a property management company handling the behind-the-scenes work, you can leverage your resources to explore new revenue streams.
Offer Services That Sell
One way you can leverage time and the help of a property management company is by adding profitable services to the Airbnbs you already have. Here are six ideas for popular add-ons to enhance your guest’s experience and increase revenue.
1. Airport Pick Up and Drop Off
Travelers flying into Tampa will appreciate that you are making transportation from the airport to their Airbnb convenient for them. Make sure this add-on is well priced so they won’t want to go with Uber or another car service instead. You can use a short-term rental management company to coordinate the driver to pick up and drop off your guests.
2. Extra Cleaning
Extended stay guests will appreciate extra cleaning during their stay in addition to the deep clean that happens before they arrive. Offer additional cleaning as an add-on service and talk with your guests about how often they would like the cleaners to come. Be clear about the price upfront so they won’t be surprised by extra fees at checkout.
Your vacation rental management service can book and schedule the cleaners so you don’t have to.
3. Prepared Meals
Business travelers, extended stay guests, and guests with children may appreciate not having to dine out for all of their meals. If you can offer your guests breakfast, lunch, and/or dinner, consider including this add-on option in your listing. Your Airbnb or VRBO rental management company can coordinate catering or a private chef to suit you and your guests’ needs.
4. Laundry Service
If your Airbnb doesn’t have a washer and dryer, extended stay guests will appreciate having the option to get their laundry done. You can include laundry service as an add-on fee. Use your property management company to coordinate pick-up and drop-off with a local laundry service.
5. Special Decorations
Did you know Airbnbs are popular destinations for weddings? It’s not only weddings; people book Airbnbs to celebrate birthdays, anniversaries, and other special events. If you’ve found many of your guests use your Airbnb for a special occasion, try offering decorations or special goodies as an add-on.
Some ideas include rose petals and champagne for wedding nights or anniversaries; partnering with a local florist or wedding decorator for weddings; or providing photo booths, balloon arches, and other party decorations for birthdays or other get-togethers.
6. Airbnb Experiences
Launched in 2016, Airbnb Experiences is a subset of Airbnb in which guests can book virtual or in-person activities hosted by local experts. What kinds of activities can you offer to your guests visiting Tampa? Some popular ones currently listed on Airbnb Experiences include boating, guided kayak tours, bike tours, fishing trips, art classes, and photoshoots.
The possibilities are endless. If you or someone you know can help you host a cool Airbnb Experience, it could be a huge revenue booster to your vacation rental business.
Maximizing your guests’ experience will create loyal fans who book your Airbnb again and again. Emperor Airbnb Rental Management can help you coordinate special services like these to create an unforgettable experience and increase your revenue.
Maximize Your Revenue with Emperor Airbnb Rental Management
If you own an Airbnb, VRBO, or another vacation rental in Tampa, Florida, there’s no reason why you shouldn’t be generating tens of thousands in passive income each year.
If you’re not managing your property effectively, you could be missing out on potential bookings and thousands of dollars, not to mention hours of lost time. Pricing your AirBnb correctly, providing an exceptional experience, and strategic marketing all play a part in how much revenue your vacation rental brings in.
Contact Emperor Airbnb Rental Management Today
You are not alone. Emperor Airbnb Rental Management in Tampa has the expertise to help you achieve your goals. Our Airbnb rental management strategy is designed to help property owners like you make the most amount of money possible from your Airbnb.
Are you ready to increase your cash flow from your Tampa short-term or vacation rental? Please fill out our online form for a free property evaluation. We will reach out to discuss what Emperor Airbnb Rental Management can do for you!