5 Pro Tips For Investing in Airbnb in Miami
Miami is today one of the hottest short-term rental markets with many affordable, luxurious and profitable Airbnb locations amidst the beautiful beaches and coastlines.
As the 3rd largest US real estate market, the city brings a diversified range of opportunities for investors to earn high returns from short-term rental investments.
If you're someone trying to explore the Miami real estate market for the best possible returns from Airbnb vacation rentals, this guide has all the tips&tricks for you.
Tip#1: Find The Best Real Estate Market
As a growing tourism industry, Miami opens its arms for travelers to enjoy pleasant weather, cheap food, and lively events, resulting in an active real estate market all-year round.
While there are dozens of options available, it's crucial to look for properties that at least qualify the basic cash return, cap return, and average Airbnb rental income.
Tip 2: Search For The Best Airbnb Property
Finding the best Airbnb property might take a small share of homework, but it's all worth it in the end.
When looking for a profitable Airbnb location in Miami, make sure it's near the city center and provides easy access to the tourist destination where people can go and enjoy quality time. From parks and museums to malls and salons, the best locations should be within walking distance of 10-20 minutes from the train.
Tip 3: Furnish The Apartment
Once you've chosen a location for your Airbnb property, the next step is to furnish the apartment, so it captivates more eyes and brings more interested buyers.
Start by creating a catchy listing that shows your Airbnb property, its exact location, number of rooms, basic facilities, and others with the help of words and pictures.
Tip 4: Keep Your Listing Attractive.
A catchy listing is a key to outstand the other dull listings and charge higher for your property than average.
When creating your listing, make sure of the following things and take inspiration from other top-rated host listings.
● Describe your offer
A well-described offer has a higher chance to grab eyeballs and intrigue the interested buyers to know more about your offer. Make sure to include little attention to details about location, rooms, amenities, luxuries, comfort, and others.
● Make the listing personalized.
Most top-rated Airbnb listings are written with a creative flair and personalized touch. Along with the listing, try to talk about yourself and what makes the listing unique from others.
● Post Professional Photography
Pictures speak volumes about your Airbnb property. With professional images, you can show the best angles of your property in a professional way.
● Offer bonuses and luxuries.
Surprisingly, free is the second most powerful word used to convert leads into sales. If it's your first time creating a listing, try to build a reputation by offering discounts, freebies, and other attractive incentives.
Below is a quick breakdown of incentive ideas you can use for your next Airbnb listing
Offer long stay discounts with high occupancy rates to keep your guests longer in the property.
Offer the chance to cancel stays last minute with the help of a flexible cancellation policy.
Give buyers the chance to book property last minute by using the instant book option.
Be 24/7 available to respond to queries or doubts your buyers may have about the listing. Keep communication smooth and courteous.
The growing real estate market in Miami has a solid demand for Airbnbs so you can make most of your Airbnb investment. With these helpful guidelines, finding the perfect vacation rental space should no longer be a hard nut to crack.
In case you've any doubts, it's best to clear with the Airbnb property owner right off the bat to avoid any consequences later.
For investing ideas and help contact us and we’d be happy to guide you Caroline Ramos caroline@hostandkeep.com
