One of the biggest mistakes I see new hosts make is assuming a short term rental guest looks for the same things a long term rental guest. Both a short term and a long term guest are just looking to occupy your property but the way in which they find your property presents a revenue maximizing opportunity.
You see, when long term renters use platforms like Apartments.com or Craigslist they search for units in a similar way to short term renters, but with one very key distinction. Long term renters search primarily primarily for a property with a certain number of bedrooms while short term renters search for a property that accommodates a certain number of people. It’s so obvious that a short term renter isn’t as concerned with everyone having their own room because they’re not going to be there for too long a little bit of privacy and comfort can be sacrificed.
As a host you’re incentivised to accommodate more guests, but that doesn’t necessarily mean you need more rooms. The biggest mistake I see new hosts make is putting a plain old normal sofa in the living room when they could just as easily put a sofa sleeper in its place. The sofa sleeper only costs a little bit more and your place now magically accommodates 2 more guests and will come up for more searches and can command a higher nightly rate with so many guests all too happy to spend a few nights on the sofa bed.
It may seem obvious but we see this trick overlooked all the time. Your sofa bed should always be queen sized if you can fit it and because sofa beds aren’t always the most comfortable, I recommend offering a mattress topper to your guests to use with the sofa bed just to make sure they can still get a great night’s sleep.
You don’t always need to spend a fortune to increase your nightly rate, sometimes it’s just a matter of changing up how you do things.