Did you know that a simple gadget or piece of software can make you even more money every year on your Airbnb property? In this video, I’m going to show you four simple things you can do to maximize your passive income from your Airbnb rental properties. I’ll explain how incorporating smart home technology and software in your vacation rental will allow you to lower utility bills, maximize your income, increase security, and provide a better guest experience.
Smart Home Technology
The first thing I recommend to my Airbnb clients is a Nest thermostat or smart thermostat. They’re relatively inexpensive and allow you to save on energy costs. Your house may not be booked every single day, and you’re not in town every day. It makes sense to be able to turn down those heating and cooling costs when you’re not there or when a guest isn’t using it.
The next thing I always recommend is to get a smart electronic door lock. One of the biggest hurdles that keep people from renting their property is concerns about how to distribute the keys. You don’t have to distribute the keys; just get a smart door lock.
You can install either an August Smart Lock or a keypad. This allows you to Wi-Fi program a different code for your cleaner, your maintenance person, and every guest; they’ll all have their own code. It’s great for security and even better for convenience. Depending on the software that you use to manage your rentals, it can even automatically syndicate those access codes with your upcoming tenants.
Property Software
In addition to smart home technology, two pieces of software can maximize your Airbnb as a financial asset. The first is called AirDNA. While it’s a little pricey, this software allows you to become an expert on Airbnb’ing your property. You can adjust your rates and beat out your competition; AirDNA gives you all the data to know exactly what you should be doing.
The second piece of software is Smartbnb (now hospitable.com). This is going to make your life a lot easier, helping you communicate with your tenants using websites like Airbnb, HomeAway, and Vrbo. Everything is going to sync together in one piece of software.
Maximizing Your Airbnb
These are four technologies that we use every single day with our Airbnb clients. If you’re looking for a new Airbnb property or need help maximizing your rental income, please contact me today. We work with vacation rental owners in our communities every single day, and we’d love to help you, too.
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