Jordan Hrovat is the cofounder of BeyondBNB.io. What he’s come up with is a way to help Air BnB hosts earn more money thanks to his Earnings Optimization strategy.
But first, Jordan wants to give you some insider on knowledge on the Airbnb business.
Most of the times Airbnb is pretty easy and laid back. Even if you have a rude guest that damages something on the property, they’ll pay for it most of the time. Kinda…
The security deposit is pretty much pointless. The guests are never charged the full damage amount, and airbnb doesn’t foot the bill for you. They won’t even let you hold your own security deposit when the good ole boys get in a fight and break your dining room table.
To be honest, the security deposit is just that…a deposit to make you FEEL secure.
The point is Airbnb doesn’t have to pay you anything once your property is destroyed. So listen to Jordan when he says you need short term rental insurance.
Also, it’ll be a good idea to send out all your rules to someone as soon as they book.
Another good idea is a noise monitor. Something where if the noise reaches a certain level after say 10pm, you’re alerted. After all, you don’t your neighbors to call the cops and complain about something you’re not on the property for.
That sounds good, but what if they ignore all that? You show that you’re no one to mess with. You have some Dwayne the Rock Johnson lookin security guard on call. If the noise level exceeds your threshold, you tell him to go over and scare the bejeezus outta them.
Cleaners? Airtasker, Jordan says. You just hit up that website and look for people who are trying to land cleaning gigs. They can bid on the jobs, you can see their ratings, reviews, and make the final call on who you want to clean your place.
Also, make sure to always have a backup cleaner on standby in case they can’t make it cuz of their cousins, uncles, best friends, last minute wedding in Vegas. All you gotta do is tell the main cleaner to text the backup if they can’t make it so you don’t have to worry.
Be sure to also get a good property management software. Something like this will allow you to talk to all your team members, manage bookings, and stay on top of reviews. All in one spot.
Something else that Jordan points out is that Airbnb isn’t actually the cheapest place to list your short term rentals. It’s actually a bit more expensive. Take a look at one listing that’s hosted on both Airbnb and Booking.com , you’ll probably notice that you pay more in commissions to Airbnb.
So what else is there? Well if you’re booked out ahead of the market average, don’t necessarily consider that a fat W. Consider to start raising your rates. You might have another 20% of money on the table.
Ok, so just how far can you push the pricing? Generally speaking, don’t charge 3x more than what you’d charge in a slow season. Anything beyond that and people will probably start dogging you with reviews online.
Honestly, I think Jordan’s free content is more valuable than what some gurus offer in their super expensive programs. I’d wager that the Earnings Optimization Accelerator has a lot more money making strategies to offer as well.
If you join, here’s what you’ll be looking at.
E.O. Accelerator aims to help you dominate your local market, land on Airbnb’s first page, use split testing, set up systems, refine your EO strategy with supply and demand, and how to make sure your numbers are always in the green each month.
Unfortunately, pricing isn’t available anywhere online. You’ll have to hop on a phone call with them to find out.