Top 10 Reasons Why Airbnb Will Continue to Dominate
I will cover how Airbnb works and why I think Airbnb will continue to dominate the short-term rental market.
In a nutshell, Airbnb provides an online marketplace for guests to book a short-term rental with local hosts.
Users all over the world can post spaces available for rent; in turn, Airbnb allows customers to rent out those spaces, which could be available anywhere from a couple of days to a month.
The idea was born in 2007, Airbnb’s co-founders Brian Chesky and Joe Gebbia couldn’t afford rent for their San Francisco apartment.
What they did was genius: they created a website and offered to rent out space in their apartment.
10 years later, this simple idea is now worth over 31 billion dollars in valuation!
Top 10 Reasons
- Google-Like SEO: Airbnb rewards hosts who are responsive and have stellar reviews with improved search visibility. Unlike the other vacation rental sites that highlight properties that pay a premium, Airbnb uses an intelligent search engine to match guests with their perfect place.
- Hassle-free Transaction: By acting as the financial mediator, Airbnb drastically simplifies the payment process by removing the need to hold deposits, process wire transfers, or obtain credit card information.
- Instant Booking: By enabling the Instant Book option, guests can now instantly reserve your place without any personal communication. Instant Book reduces the time you must spend responding to reservation requests. It also increases your list ranking in Airbnb’s SEO.
- Automated Review System: Airbnb was the first vacation rental site to harness the power of social media and user-generated feedback. This review system creates a community of trust.
- International Popularity: Airbnb has the largest number of international users. They are in 191 countries. That is by far the most.
- One-Stop Marketing Platform: It’s surprising how many vacation property owners have to resort to multi-channel marketing because they aren’t getting the results from their standard listing… With Airbnb, set up one listing, manage it well, and the visitors will come.
- Better User Interface: Have you ever tried to use VRBO to post your listing? Their interface is archaic. Airbnb’s superior search engine and map interface gets people more engaged and is more likely to find your perfect place.
- Flexibility: Whether you are looking to make a few bucks while traveling over the holidays, trying to monetize a spare bedroom, or want to establish a full-time rental property, Airbnb accommodates the full spectrum of rentalpreneurs.
- Up-to-Date Calendar: Airbnb rewards hosts who actively manage their calendars to ensure that the properties that appear in search results are actually available to book.
- Results: The bottom line is that Airbnb provides results. I’ve obtained a 90% occupancy rate and earned over $100,000 in one year, all while working less than a few hours per week.
Interest in learning how to build your rental arbitrage empire? There are lots of rentalpreneurs doing the same. I know guys that are doing a 7-figure business. There’s still time. It’s a lot simpler than you think.