As a short-let management company, we are responsible for maximising the income of hundreds of holiday lets nationwide. For us, our secret to increasing the profitability of your business is not just by implementing a one-size fits all structure, which is fine for some who want to sit on the second page of search results.
With HelloGuest, it’s all about understanding your objective, so if you want to earn a better passive income compared to an erratic one, it’s essential to consult with a company like ours, which can assess your current financials and outline a growth strategy that reduces your outgoing costs and increases turnover across 40+ holiday booking sites.
By treating your holiday let as a business, we introduce the fundamental aspects that encourage repeat bookings, faster check-outs and better reviews.
We’re about to reveal on this page the tried-and-tested strategies known to maximise holiday-let revenue streams. The details and terminology can get quite technical, and it’s at this point you should ask yourself whether you have the time or the will to see this out correctly.
For 12%, worries and hassle around cleaning, communication, maintenance, marketing, and admin can all be handled. The only additional costs left to cover will include your utilities or mortgage payments.
So, by employing a company like ours, which is responsible for driving revenue to your business, you might actually save money on your outgoings and, at the same time, drive better profits. We’ll leave the decision with you for now, but know we’ll always be here to help when you need us the most.
There are certain Airbnb revenue growth techniques tested by hosts online that will work well; for example, a simple Google search will show you tips like ‘sell the local experience’ etc.
But for us, that’s part of the fundamental stage, where you optimise your listing for the best success. When it comes to maximising your income, more thought and dedicated pricing strategies will be more appropriate.
Here are pricing strategies to consider:
Pricing your rental and implementing successful strategies is an integral part of each Airbnb business. To put it briefly, the rental price must define the maximum value of your listing, but at the same time, it needs to be appealing enough to attract your target customers.
You’ll want to decipher an ideal strategy for the value of your property that does not undersell nor oversell your live listing. For example, an overpriced rate could mean missing out on potential guests.
This is where many newbie Airbnb hosts can struggle to find the balance between the two price functions – but they’re not to blame. As previous hosts, we know how tricky it can be to get your pricing strategy right the first time. Learn more.
The best place to start is with a review of your current expenses.
Many of the first page results on Google will tell you, ‘take better pictures’, ‘use neutral colours,’ blah blah – that’s why you shouldn’t use the internet to dictate how you run your Airbnb business.
Relying on blogs that copy each other for information on how to scale your business is the wrong place to look – either save yourself the hassle and employ experts like us, learn by doing, or research and research again through published literature, walking you through the steps.
Google can be fantastic in telling you what you already know – as an entrepreneur in the hospitality industry, you’ll know instinctively what customers will like – however, knowing what makes them purchase requires marketing expertise and know-how.
Other Airbnb management services in the capital and beyond usually take a commission fee between 13-20%. HelloGuest only charges 12%. Is now a good time to switch? Learn more about our management fees.
Toby’s main role is managing clients with large holiday-let portfolios, ensuring they hit KPIs and maximise their monthly turnover.
Being a natural extrovert and a go-getter, Veronica is a great communicator and is the face behind HelloGuest, which means she’ll be there to help you onboard or switch.