Why List Your Property Online

why-host-online-roamhome

If you are looking to rent out your second home or any other property you may have, the use of the internet is particularly enticing. The sheer reach and efficiency is unparalleled. Although the particulars can be daunting, this guide looks into the best way to maximize revenue from your real estate investment. Having done all the research on this segment, this guide looks at the different ways to rent out your property online and includes other industry tips. 

 

What do you need before listing your home? 

 

  1. A set of high resolution photographs. This is by far, the most important step and professional photos will be the key difference maker when your site is competing with others on the listing portal. 
  2. A description of the property. Great, the customer has shown interest, can we be catchy, informative and relevant. Good writing helps the customer to really understand your home. 
  3. Your rates and calendar. It is critical that you never have double bookings. Your calendar must be updated in real time to maximize potential bookings and It is also important that rent prices are considerate of factors such as season, location and facilities. 

 

Once these steps are complete, it is time to choose an online travel agency or a service provider. There are two broad types of agencies subscription based and fee deducted at booking. 

 

Fee Deducted at Booking

Airbnb

Instead of requiring an upfront fee or annual subscription, you pay only if a guest books your property. This works if you plan on renting out for short duration’s of time, usually under 6 weeks a year. AirBnb has one of the smallest fees at 3% and is applicable only for short term rentals, most of which are under a week long. However given its massive scale and rampant horror stories by hosts, many owners are opting to furnish their homes and rent them out as luxury vacation rentals. More on that later. 

 

Booking.com 

Often touted as the world’s No.1 accommodation site, booking.com assures zero subscription cost, instant booking confirmation and a reach to over 480 million users. Owners pay 15 to 18% in commissions

 

Roamhome.in

This India specific site, manages your listing end to end by taking professional photos, writing fantastic copy and listing it on every possible platform. This allows for an unprecedented reach and ensures that your property will be making money every day of the week. In a short period of time, they have amassed over 300 properties spread across the subcontinent. They charge a modest fee for their services. 

 

Annual Subscriptions

Homeaway Family

Instead of paying additional fees, you can choose to play a yearly subscription and get unlimited listings. The Homeaway Family by Expedia has a massive network of 50 websites. They additionally offer you a variety of tools and exposure to its network for a yearly fee of $499. Alternatively, you can choose to pay 8% per booking and get listed. 

 

Other things to keep in mind:

  1. Actively promote your property on social media
  2. Use newsletters to keep customers updated
  3. Respond promptly to enquiries
  4. Ask for reviews from clients
  5. Try alternate marketing strategies, like google and facebook ads. 

 

Finally, I would like to offer a personal recommendation. For me, it is simply not worth my time creating and optimizing listings across multiple platforms to maximize revenue. Yet I know that if it is done half heartedly, I would be leaving money on the table. My experience with Roamhome was a positive one, they managed my operations and digital presence in a professional manner. I earned far more than I could have on my own, even after adjusting for their modest fee. 

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