5 Easy Steps To Check If Your Area Works For Airbnb Or Serviced Accommodation

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5 Easy Steps To Check If Your Area Works For Airbnb Or Serviced Accommodation

But if you want to do it yourself then follow these steps.

Step 2: Once you’ve found some similar properties in your area. Open up the listings and check the property’s calendar on Airbnb to see how busy the property is. This is really handy to gauge how popular the place is.

Step 3: The next step is to check the rates being charged for the property. Check several dates to get an accurate idea. It’s really important to check both weekdays and weekends, different lengths of stay e.g 1 night, 2 nights, 7 nights. And across different months of the year.

Step 4: Now you’ve found some properties in your area, you’ve noticed what they’re charging and saw how busy they are. The next step is to check the property’s reviews to see how happy their past guests have been. This is one of the most important steps you can take. Read as many reviews as you can!

Step 5: Look at the photos. All this validation of concept is useless if you don’t replicate the standard of the properties you’re seeing. Opening a serviced apartment in the same street as other successful ones is not a guarantee that yours will perform to the same level. It’s really important that you pull out all the stops in a renovation to at least match but hopefully surpass the competitors already out there.

Of course finding the right location is just the first step. Once you purchase the property then the real work begins. During your “reviews” research step you’ll have read some glowing reviews of how the host did this or that. And some awful reviews about how the host did this or that. Indeed all of the steps can give you a glimpse into just how difficult it can be to run a serviced apartment successfully. There is serious time and effort involved.

00:00 - Introduction. The importance of location for a property's success
01:04 - How to use Airbnb to check your area
04:19 - Now the hard works begins

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