The online rental market has created unique opportunities not just for realtors and people want to sell or rent their home in a traditional way, but also for peer-to-peer renters. Peer-to-peer marketplaces allow people to put an apartment, condo, home, room in their home or even an RV online so that other people can rent directly from them.
There are options like Airbnb, to help people find lodging anywhere in the world, to Outdoorsy, which is a peer-to-peer RV rental site.
People have found that not only does it give them unique travel options, but they can also earn extra money when they become someone who rents a space out. Of course, a lot of how much you make is going to depend on how you market your home, room or RV.
The following are some general tips to help you most effectively market an online rental.
Consider All Marketplace Options
When you’re renting out your home on a peer-to-peer marketplace, you want to make yourself as visible as possible. While Airbnb is one of the most popular sites of its kind if you want to increase the chances that renters will find you, put it on other sites as well. Some examples of other popular listing sites including FlipKey and VRBO.
There are also sites that specialize in particular demographics so that may be something to consider.
When you’re creating your rental listing, make sure you take the time to have a great, catchy title. You want people to spot your listing in their search results and feel compelled to click on it.
Even if your listing is the best and has beautiful photos, if the title is no good it’s a lot less likely to get the attention of people when they’re looking for a rental.
One specific tip here is that you probably shouldn’t take up valuable title space with the location of your rental. People already know where it is in most cases because that’s what they’re searching for.
As with anything, pricing is important. If you rental is too low people might think something isn’t right. After all, the perceived value of products and services is higher when the price is higher. At the same time, you don’t want to be the most expensive rental in your area.
Do some research to figure out a sweet spot for your local market nd what you have to offer. If you feel like you’re going to have to price it too low, integrate some add-ons that will allow you to raise the price. For example, include bikes or kayaks with your RV rental.
As a final note, if you’re just dabbling in peer-to-peer renting it may not be worth it to you to invest in professional pictures, but for most renters it absolutely is. You’ll be amazed at how much more effective your listing will be with professional photos. It can change the entire look and feel of your listing, and it’s going to be one of the best ways to appeal to more people.