The Dumbest Mistakes You Can Make When Launching A New Airbnb

Introduction

Setting up your Airbnb properly will save you tears, so buckle up as we take you through our checklist for avoiding dumb mistakes when launching your Airbnb.

Mistake 1: Ignoring Local Laws and Regulations

• Imagine investing and planning not realizing that what you are planning is illegal. That will leave you red-faced and frustrated. So do your homework, check with your local city council, and learn all the rules for hosting in your area. Make sure you watch trends to assess the regulatory risks too. 
• Non-compliance can get you shut down and facing big fines so make sure you know the rules before you play.

Mistake 2: Poor Quality Photos and Descriptions

• First impressions last and your photos especially the first one on your listing will determine how many bookings you get.  You only have a few seconds to make an impression so make your photos high-impact. Get a professional photographer to take your images.
• Listings with pro-photos get an average of 24% higher bookings than listings without. That means hiring a professional photographer is a bargain!
• Make sure you get a photographer who specializes in real estate. No, a wedding photographer will not do that! Real estate photographers know how to make your spaces pop.

Mistake 3: Inadequate Pricing Strategy

• Know the value that you deliver and set your price accordingly. Get really dialed into your niche and what makes you unique and then you can differentiate yourself and get a better rate than the average.
• Use dynamic pricing tools like Pricelabs or Rankbreeze to make automatic pricing adjustments. It will improve your revenues and save you a ton of time.

 

Mistake 4: Overlooking Guest Experience

• Guests read reviews before they decide to book so ensuring that you deliver a superb guest experience is a top priority. Simple things like communication and cleanliness are a huge deal to guests so make sure you are prepared for every eventuality and be available to help guests when things do go wrong.
• A common way to get bad reviews is to over-promise your listing. When you fill guests with unrealistic expectations, disappointment is inevitable. Be honest about what you are and are not. 
• Enhance guest satisfaction by communicating before they arrive and helping them plan their perfect stay by offering tips and even a welcome book. Leave a complimentary bottle of water and some fruit as a welcome gesture. Little thoughtful touches go a long way.

Mistake 5: Inadequate Communication with Guests

• They come to your Airbnb for a more intimate experience than a hotel can offer so be friendly and communicative. Lack of communication is one of the leading causes of discontent. 
• Send a sequence of automated pre-arrival messages and make sure you communicate post-check-in to see that they are settled in properly. Be available when anything comes up and after check out, check in to ensure that everything went well. 
• Make sure you talk to them like a friend and convey a warm and hospitable tone.

Mistake 6: Failing to Plan for Management and Maintenance

• Managing an Airbnb involves a lot of complexity. Expect things to go wrong and plan for all eventualities. Preventative maintenance and backup plans are important to ensure that the guest experience is never a disaster.
• Failure to perform regular maintenance can expose you to major losses in downtime, refunds, and tarnished reputation. 
• Allocate at least 5% of your revenues to maintenance and repairs
• Streamline systems to ensure that you have a maintenance crew on emergency calls. Train your housekeeping staff to inspect for any issues like leaks or damage and then automate the reporting to alert the maintenance team.

Mistake 7: Neglecting Financial Planning and Record-Keeping

• It’s a business, people! Make sure you are serious about your accounting so that you can keep tabs on your business performance and taxes. A simple Excel template can help you stay on the right side of the tax authorities and your investment goals.
• As stated before 5% of revenues should be reserved for maintenance and repairs. Failure to do this will expose you to a bad guest experience and a descent into losses.
• Do your books monthly. Consider hiring a freelance bookkeeper.

 

Conclusion

• These mistakes are dumb but they are common. 
• Now that you know make sure you don’t make these mistakes!
• Download my free Airbnb Optimization Checklist and be a smarty pants.