This is an interesting conundrum. Is Airbnb wrecking the industry through its 'Become a Host" marketing efforts? The latest ads bost earning an extra $1,185 per month.
I think the biggest issue with Airbnb is that they are turning a professional vacation rental business into a ‘host in your home’ gig that anyone thinks they can and/or should try to earn some extra income.
The Airbnb platform for hosts really is clunky and basic. There are relatively low statistics to track your performance and their easy automated pricing doesn’t take into consideration key performance indicators (ie: think waterfront location versus landlocked, hot tub, pools, etc…) when pricing your home for you… leaving dollars on the table.
Hosting guests is a real business and if you want to be good at it, you need to put some hard time, money and effort into it. You need to educate yourself on a number of different factors before even starting:
I could go on and on… luckily there are great resources digitally and workshops and conferences you can attend to help you understand and master the VR and Airbnb Hosting business.
I recommend reading up with Vacation Rental Formula, VRMB, and listening to podcasts, etc…
You can also attend industry events to help you get ahead of the curve like VR Mastered (use coupon code FLARBO for a discount), Vacation Rental Success Summit, Vacation Rental Women’s Summit, Vacation Rental World Summit, etc…
It’s not as easy as Airbnb market’s it to be a great host and optimize your profits, but if you are dedicated and have a passion for it it’s a fantastic business.