3 rules for making money on Airbnb, from a shorttermrental owner who built a business by optimizing revenue
News Source : Business Insider
News Summary
- Mike Savage started buying short-term rentals in South Carolina in 2017.
- He says investors need to think beyond the purchase price and location to operations, maintenance, guest communication, marketing, photography, and listing descriptions.
- Savage says owners should pay attention to the median booking window, which is how far in advance guests typically book a given date.
- "We don't need everybody to want to book our home," he said, "We just need a specific avatar that we can speak to better than everybody else"
Real estate investor Mike Savage and his family reside in South Carolina.Courtesy of Mike Savage Shortterm rentals can earn more than longterm rentals, but they require a business mindset.
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