3 ways to increase revenue on medium-term rentals

[Conner Olsen]

I list one side of a duplex in North Austin on Airbnb as a medium term rental (30+ days). I found there are 3 ways to increase revenue on a medium-term rental:

1. The most obvious one is increasing your nightly rate. I have been successful at increasing our nightly rate by 7% in the past 3 months.

2. Decreasing your monthly discounts. Most Airbnb hosts offer discounts for renting a home for 30+ days. This is still true for hosts that exclusively offer medium-term rentals. I decreased my monthly discount from 20% to 15% so my revenue increased by 5%! 

3. Some hosts require regular cleanings for tenants staying for extended periods of time. I've heard hosts tell guests that it needs to be cleaned every two weeks by our cleaners and the guest has to pay for it. As a host you can charge guests a rate above your cleaning fee and pocket the difference. (I have only heard a couple hosts doing this, I haven't tried it myself)

I have implemented #1 and #2 and have increased our revenue by $325/month over the last 3 months!

[Ryan Roberts]

It's crazy how low the vacancy is for the 30+ day rentals. I've also had about 3% vacancy with the 30+ day rentals over the past 2 years. I feel like Airbnb's algorithms have improved to minimize your vacancy and often have a guest check in within a day or two of a guest leaving.

I don't know if I agree with #2 though, I would just increase your nightly rate and leave in the 20% discount.