How do you know if you need an Airbnb revenue management company? While every Airbnb investor's story and situation are different, there are five signs that indicate you could use some help from experts.
Sign One: Less than 90% of Your Nights Are Booked
If your Airbnb calendar is more open than booked, that's a big indicator that you could use an Airbnb revenue managment company. Why? Because occupancy is what drives revenue. If you do not book your nights, you're not making money.
As Airbnb revenue management experts, we take over our client's calendars and pricing so we can optimize more maximum occupancy AND maximum revenue. It's a lot of science and a little bit of an art - that's why a personal touch is so important. You can't just set it and forget it when it comes to pricing.
Sign Two: You Are Barely Covering Your Airbnb's Mortgage
Do you keep hearing about other investors making tons of money and wonder why you're barely covering the mortgage and paying your housekeeper? So many Airbnb investors pick the right property in the right market, and then pick the wrong pricing strategy and a make a few poor choices on Airbnb listing settings. Unfortunately, it's difficult to figure out exactly what you need to change to increase your bookings and in turn increase the income generated by your Airbnb.
That's where we come in! With our 15 personal properties running at 95% occupancy year-round and the hundreds of clients we have coached - we have the "data set" to analyze the Airbnb algorithm and know exactly what need to be changed or implimented to get your property on page one of Airbnb's search for your market so guests see your property, book it, and pay top dollar for those stays. And guess what? That's when you start generating a profit that leads to financial freedom and living a life that you love.
Sign Three: Your Life Is Busy
While everyone can eventually learn how to manage their pricing and occupancy and what software tools to use - not everyone has the time to continuously monitor page rank, weekday rates, weekend rates, occupancy, and filling orphan nights. If you worry that you're leaving money on the table, but can never find the time your Airbnb needs to be optimized for revenue generation - that's a good indicator that you would benefit mentally and financially from an Airbnb revenue managment company.
It's a lot like the stockmarket. Most of us have a basic understanding of how it works, but we don't have the time to become experts in stocks and all of the factors that impact the Dow Jones. We don't want to lose the money we've invested in the stock market, so we hire experts to manage our portfolio. If you want to maximize the investment you made in your Airbnb(s) - consider hiring an Airbnb revenue managament company. You can set up a free discovery call with us to explore how we can help you stress less and make more!
Sign Four: Numbers Make You Cringe
While we LOVE data, numbers, algorithms, and constantly testing theories to increase Airbnb revenue, some people don't. In fact, we hear from clients all the time about how much they hate numbers and dealing with software. They love being Airbnb hosts and interacting with their guests, but loathe the ecommerce component of succeeding as an Airbnb investor.
We're huge fans of delegating the things you don't enjoy so you can focus on what makes you happy. Don't sell your Airbnb because it's not making the amount of money you hoped for. Hire an Airbnb revenue management expert to handle your calendar, pricing, and page rank so you can lean into being an amazing host and giving your guests 5-star stays!
The Big Question
Are you wondering, "Can I afford an Airbnb revenue management company?" In most cases the answer is yes. We charge $300 per month to manage your calendar, page rank and pricing. Our average client increases their revenue by 30%. Do some simple math - or schedule a discovery call with us and we'll do the math with you!
