The popularity of short-term rentals in Portugal has grown exponentially and, with it, the competition between properties to get higher and more profitable occupation rates. With so many people renting their houses short-term, how can you boost your rental income?
At Home With a View, we specialize in managing local accommodations and we guarantee a occupation rate of 90% with an average X?ove those who rent by their own. So there’s no need to worry: we’ll share with you some tips on how to make your real state standout inside a digital platform like AirBnB or Booking.
1 – Do not write a generic title
The title of your property on the platform is the first thing that a potential guest will see. Yours and dozens of others within the same area.
That’s why mainly descriptive titles like “Apartment located downtown” don’t stand out or say anything new to a guest that, as a rule, will already be looking for places to stay precisely on that part of the city.
Think of what type of person you property is more appealing to. If for example we’re talking about young foreign tourists, a title like “At the center of Lisbon’s nightlife” will not only get to the heart of what type of experience they’re looking at, but will also lure their imagination and desire.
2 – A fair and competitive rate
It’s only natural that you want to value your house or apartment. After all, it’s a property that’s dear to you and it’s exactly to value it that you’re even renting it in the first place. But there are many elements to factor in when you’re setting the price per night as to guarantee that you have higher occupation rates and a larger long term profit yield.
Go on several of the available digital platforms and check out the area where your property resides. What’s the fee of most of the properties similar to your own? Are there a lot of competing smaller properties with extremely lower fees? Does your property offer something that no other does?
If you never took these factors into consideration, you should know that guests do. And if they’re not interested in paying what you’re asking for your real state, that will negatively impact its ranking on the platform in which you’re advertising.