You have put a lot of thought into your short-term rental business, figuring out what the top users on Airbnb, VRBO, or Agoda are doing and then plotting a course to replicate or even exceeds their results. Your propensity to research and learn is a major advantage that you have in the market, but simultaneously, it is something that leaves you susceptible to stress. Short-term rental owners, like all entrepreneurs, are notorious for stressing over things unnecessarily. Here are some of the most common stress points for short-term rental owners and what you can do to avoid them
- My whole business relies on guest reviews!
This is true: your success and failure as a business on Airbnb, VRBO, and Agoda depends on how well or how poorly your guests review your property. Even just a few negative reviews in a short period of time can cause irrevocable damage to your listing, and if you want to be able to charge top prices for your area, you need to drive extremely high ratings – upwards of 9 out of 10 on average. As Seth Porges says on Forbes, “Being an Airbnb host is a lot of fun, but it can also be emotionally exhausting when you feel you’ve done everything you can to cater to an ungrateful guest” . To avoid this stress point, remind yourself that you are doing your best.
- Bookings are inconsistent!
The more you fill up your calendar, the more income you are going to generate for yourself. This is an immutable fact on Airbnb, VRBO, and Agoda, so when you see your bookings drop off, it is a lot like seeing your income potential disappear. Fortunately, you are not stuck with the same booking rates. You can make a difference to your booking stats by altering your listing. As Optimize My Bnb says, “Airbnb listings are tricky to navigate; to help them reach their full potential, it can take a lot of trial-and-error or an expert to tell you how to get the most exposure and increase your booking conversion rates” .Take some action with regards to your listings and hope that it all works out.
- I’m feeling tired and burned out!
The other most common stress point among short-term rental owners is a stress point that entrepreneurs in all industries have experienced: the boredom and exhaustion that come from working long, hard hours. There is no magic trick to solve this stress point. Rather, you just need to take a vacation. While Airbnb, VRBO, and Agoda are exciting, cutting-edge platforms, they are also businesses like any other. As much as you may enjoy your work on the platforms, it is still work nonetheless. To avoid running yourself ragged, schedule some time off for yourself when you have the chance to do so. This way, you can come back feeling refreshed and ready to offer all your guests the 5-star service they expect!