Demand for luxury short term rental properties is soaring this summer.
According to AirDNA data, demand for accommodations costing over $1,000 a night is up 73% from 2019.
This trend, as highlighted, signals a ripe opportunity for investors and hosts looking to enter the premium short-term rental market.
Key factors driving this growth are:
** Higher disposable incomes for a large segment of the global population
** The growing preference for privacy
** The demand for more space with the appeal of home amenities
** The provision of luxury amenities such as a swimming pool and spa in a villa location. An added bonus that “screams” exclusivity
It is apparent that travellers love to live the high life, even if only for a few days.
Airbnb’s requirements for luxury properties
In order for a host’s listing to qualify as a luxury property, Airbnb, in addition to the basic rules has additional criteria.
The property must include:
** A cohesive, upscale layout throughout the property
** Comfortable, inviting indoor and outdoor spaces
** Luxury amenities and an overall environment that is in immaculate condition
The host’s behavior must:
** Be exceptional and demonstrated by good guest reviews
** Focus on commitment and reliability to guests.
** It is quick and efficient in the way it responds to guest queries and requests
The listing should:
** Include compelling, up-to-date, professional photos that highlight the unique features of the property
** Adhere to the standards outlined in the Master Rules for Hosts
** Comply overall with Airbnb’s Content Policy
** Include what is listed in the price (e.g: services and access to amenities)
** Include what is available at an additional cost (e.g: optional services and hours of operation).
How can hosts guarantee success?
Hosts who pay special attention to the following tend to receive excellent reviews:
** Cleanliness: Keep your place spotless, as shown in the photos of your listing. Make sure you give yourself and/or your team enough time to thoroughly clean the space between stays.
** Essential luxury amenities: Ensure that the accommodation is well stocked with cooking utensils, basic serving ware, high quality toiletries (toilet paper and toiletries), extra bedding and at least two towels of each type per guest, based on the maximum capacity of the accommodation.
** Accurate listing details: Please check your listing regularly to ensure it is accurately described.
** Smooth arrival and departure process: Help guests feel comfortable with clear and simple instructions. Learn more about updating guest information.
** Proactive communication and response: be responsive and available to address issues promptly when they arise.
To ensure that guests know how to contact you, add the contact information of a partner on site to the “Home Handbook” section of your listing information.
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