\nLet\u2019s start with the financial opportunity for Las Vegas homeowners currently renting to vacationers \u2013 or planning to. Statistically, your property sits in one of the world\u2019s most in-demand locations. We\u2019ll share what some of those statistics look like.<\/p>\n
According to the Las Vegas Convention and Visitors Authority<\/a> (LVCVA), 2018 Sin City visitor volume added up to a staggering 42,116,800 visits. The city\u2019s available room inventory to serve those guests came to 147,238. And those visitors brought money: gaming revenues on the Strip and Downtown alone amounted to a cool $7.2 billion. That didn\u2019t include food, drinks, shopping, entertainment, and other stuff.<\/p><\/blockquote>\n
As Las Vegas Airbnb property management professionals, we consider these figures a mixed blessing \u2013 because while the opportunity for homeowners is excellent, the competition is fierce.<\/p>\n
On Airbnb, your Las Vegas vacation rental property obviously competes with other rental properties. But the competition doesn\u2019t end there. Many Airbnb users compare private vacation rentals to hotel-owned properties. So, if your property is located within walking distance of, say, the Vdara, among many prospects, you may be competing against that hotel brand. But nail Airbnb property management<\/a> and you\u2019ll not only compete against the best of the best \u2013 you\u2019ll win more than your share of business.<\/p>\n
We\u2019ll reveal what\u2019s needed to make that happen and beat your competition at every level \u2013 including top hotel brands. But before we do the big reveal, we need you to promise not to become unsettled when you see everything involved. At the end of this post, we\u2019ll reveal how to get it all done with minimal effort. Promise? OK, here goes.<\/p>\n
For starters, optimal Airbnb property management means optimizing your property\u2019s exposure.<\/strong> That means not simply relying on Airbnb to get the word out on your property\u2019s availability. Yes, Airbnb is a vital tool in your vacation rental property management mix. But it\u2019s by no means your only tool. Your property should be listed on 50+ sites. Each listing needs to be expertly written and take advantage of each site\u2019s characteristics, to attract the maximum number of prospects. Photography should be shot by a professional experienced in making properties like yours look inviting.<\/p>\n
But successful Airbnb property managers know vacation rental optimization doesn\u2019t end there. Inquiries from prospects and requests from renters need to be handled promptly, accurately, and completely.<\/strong> If not, your ratings take a hit.<\/p>\n
Rates you charge renters shouldn\u2019t be static and should be optimized daily.<\/strong> Your property must stay consistently stocked with basic necessities. And it should be very clean \u2013 because thorough Airbnb cleaning with every turnover is a key contributor to high ratings. Renters expect cleanliness of vacation rentals to exceed their efforts at home and be on par with cleanliness found in well-run hotels. You also need to know when to make the right improvements to that existing vacation rental property. And if you\u2019re in the market to buy another vacation rental, you should have a clear understanding of your potential return on investment before<\/em> you buy.<\/p>\n