If you’ve been looking for a way to make extra cash, the hospitality industry offers opportunities if you have some idle space or property. Starting a short let business may be a great option for you. Short Let’s have revolutionized the way people vacation and has created a lucrative opportunity for hosts to share their idle spaces with vacationers and travelers from around the world. Here are some tips to get you started on the path to success:
Determine Your Strategy
Before you start your short let business, it’s important to determine your strategy. Will you rent out a spare room in your home, or will you use an idle or poor-performing separate property specifically for guests? Each option has its own set of pros and cons, so it’s important to weigh your options and decide which route is best for you. If you need help with this, book a free strategy session now.
Create a Welcoming Space
The key to being a successful short let entrepreneur is creating a welcoming space that guests will love. Make sure your space is clean and comfortable, and includes all the necessary amenities like fresh linens, towels, and toiletries. You may also want to consider adding small touches like snacks or a welcome basket to make your guests feel right at home. You can do this yourself if you have a flair for decorating. If you don’t, book a meeting with one of our consultants and we will help you design a space that sells fast.
Price Your Space Competitively
One of the most important aspects of running any successful business is pricing competitively. Do some research on similar listings in your area to get an idea of what they charge, and adjust your prices accordingly. Keep in mind that pricing will fluctuate depending on factors like seasonality, local events, and demand. Refer to our guide on property platforms you can use for your search.
Market Your Listing
Once your space is ready for guests, it’s time to start marketing your listing. You can use built-in platforms such as Airbnb, Booking.com, etc for promoting your space, but you can also take advantage of social media and other online platforms to spread the word. Make sure to include plenty of high-quality photos and a detailed description of your space to entice potential guests. You will need a good camera and some skills to capture your listing properly. If you need help, call now and we will be happy to do it for you or offer further guidance
Communicate Effectively
Communication is key when it comes to running any business. Make sure to respond promptly to inquiries and messages from potential guests, and keep in touch throughout their stay to ensure that everything is going smoothly. Clear communication can help prevent misunderstandings and negative reviews.
Provide Excellent Hospitality
Finally, providing excellent hospitality is key to running a successful short let business. Make sure to greet your guests in person if possible, and offer helpful tips and recommendations about the local area. You may also want to consider providing a guidebook with information about the area, as well as a list of local restaurants and attractions.
Starting a short let business can be a great way to earn extra income and meet new people from around the world. By following these tips, you can create a welcoming space that guests will love and build a successful business that will thrive for years to come.
If you would like to talk to someone about your space or property, contact us. We would love to help.
