Note sull'episodio
John and Tim share their outlook on the Airbnb economy in August 2022.
Key episode highlights:
High inflation coupled with children returning back to school equals a slowdown
Don't panic - make sure your airbnb is really clean, well maintained, and has a key differentiating factor
Every area of the country has an off-season, so its best to not panic and be prepared for next year!
Dropping rates may work, but you will have a long-term negative impact, parties, property destruction, and wear and tear
Know your seasonal times for your area
Having the right expectations helps you set the course. A lot of worry stems from unrealistic income goals
Do not race to the bottom, by having a key differentiating factor like themed rooms or special amenities can protect you from competing solely on price (especially in a saturated or crowded marketplace)
Your busy months will pay for your slow ones, you won't always be occupied if you are going after premium rates. You may be if you are offering your airbnb at low rates, but you will also have to deal with more parties and wear and tear.
Clean fees, linens, supplies, furniture are all getting more expensive due to inflation so your costs will go up - meaning lowering your price will pinch you even more
Stay grounded, review your financial model or revenue goals, and don't panic. Preparation for next year will alleviate some anxieties that come in hard economic times.
And much more...
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