From early October to around the end of March, tourism is booming in Sidney. Massive throngs of travelers visit the city from far-flung locations all over the world, and if you’re listing is even moderately optimized, you can probably do pretty well. But then, something unfortunate happens during the Airbnb off-season.
The inquiries start becoming fewer and farther between, and in many cases, bookings dry out completely. What felt like a solid extra income just a few months prior can start to feel like a dead weight hanging around your shoulders. The good news is, it doesn’t have to be this way.
Let’s take a closer look at a few things you can do to keep your listing profitable, all year long.
Take advantage of local events
One of the simplest mistakes many inexperienced users make is not continually optimizing their listing based around what’s happening in their area. For Sydney, this means updating your listing to reflect major events such as the explosively popular Vivid Festival, as well as City to Surf, the International Food Festival, and other events that draw in crowds from the surrounding area and the world at large.
This can be as simple as updating your heading to include the title of the event in question, and re-writing your bio to really show off why your property is uniquely suited to the festivities. Get creative with this, and you’ll be rewarded handsomely.
Lower your prices on Airbnb during the off-season(the smart way)
Let’s face it; none of us want to make less per booking on any given day. Despite this, lowering your rates during off-peak times can be a very effective way of keeping the business flowing in, provided you apply a little tactical planning (and a dash of finesse).
Start by doing some basic research on your competition; look around Airbnb’s website and seek out similar properties to yours. Do they have tons of 5-star reviews? Are their calendars reasonably full, despite the slow season? If so, take a page out of their book and look for patterns you can improve upon.
Once you’ve done this, go ahead and lower your pricing to a competitive rate, but remember to keep weekend rates a bit higher to match the extra demand they carry. Do this correctly, and travelers will see your low rates as an excuse to go ahead and book your spot.
Take a moment to reflect on how unique your listing is
Take yourself out of a sellers mentality and into the minds of your buyers; would you book your own property over the hundreds of others in your area? If not, think about what you could do to add some identity to your place. Maybe you could serve breakfast to guests, or provide them something truly unique that they won’t find anywhere else. A few examples include:
- A super original piece of furniture that looks amazing in your listing photos
- The password to get into that super fancy speakeasy bar downtown
- Backstage passes to an event near you
- Gift cards to favorite local restaurants
- Dinner & drinks during one night of their stay
As a bonus, if you pulL these sorts of stunts when business is booming, you’ll be sure to receive tons of glowing reviews that can really give you an edge when the slower times come around again.
Remember, succeeding on Airbnb is a constant cycle of improvement.
You have to be in it for the long haul to really build up a business that is stable enough to weather the slow season. If you consistently take steps to set yourself apart, you’ll find that you have a side hustle capable of bringing in some serious cash, regardless of the season.