Bill Faeth Unfiltered

TURNING GAP DATES INTO PROFIT

Sep 15, 2023

Discover the secrets of the top 1% of Airbnb earners during the off-season. Learn how to maximize bookings and revenue with minimum night requirements and the 3-2-1 method. Find out how offering bonus time at a discounted rate can increase bookings by 40%. Learn strategies to attract more guests and boost revenue during the off-season.

11:53

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Quick takeaways

Filling gap nights during the off-season can lead to a significant increase in revenue for short-term rental hosts.

Offering discounted rates for gap nights and leveraging the psychology of urgency and value can encourage guests to book extra nights and boost overall profits.

Deep dives

Making Money in Off-Seasons

The top earners in short-term rentals focus on making money during the off-season rather than just the peak season. Maximizing occupancy and sustaining average daily rates (ADR) in the shoulder seasons is crucial for higher profits. Filling gap nights, typically one or two nights during the off-season, can be challenging but can lead to significant revenue. By offering discounted rates for these gap nights, hosts can leverage the psychology of urgency and value to encourage guests to book extra nights and increase overall profits.

Introduction

4min

Monetizing Gap Nights in the Vacation Rental Industry

3min

Increasing Profits with Gap Nights and Early Check-Ins

4min

Maximizing Profits with Gap Day Bookings

2min

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.

Join Bill in this episode as he delves into the secrets of the top 1% of Airbnb earners during the off-season. Bill shares his own strategy for maximizing bookings and revenue at his properties, including his minimum night requirement and the innovative 3-2-1 method (three nights on weekends, two nights during the week, and a one-night gap night).

Discover how Bill taps into the psychology of those gap nights to enhance the guest experience. By offering bonus time at a discounted rate, he tests whether guests with a gap night between them would opt for earlier check-ins or later check-outs. He sends a thoughtful email to both guests, emphasizing the benefits and also highlighting the challenges of same-day turnovers for his cleaning crew. The result? An astonishing 40% increase in his portfolio with filling those previously vacant gap nights.

Bill's approach isn't just for those driving to the property; it's especially effective for travelers flying into a location. Many guests yearn for an immediate sense of comfort and convenience, making the offer of extra time at a reduced cost all the more tempting.

In the competitive world of Airbnb hosting, Bill underscores the importance of diversifying your techniques to attract more guests, especially during the off-season. Filling those elusive gap dates is just the beginning of boosting your overall revenue. Tune in to learn how you can join the ranks of the top 1% of Airbnb earners with tips like these. Don't miss out on this insider knowledge to level up your hosting game!

[00:00] Intro

[00:10] Gap Dates

[01:25] Lead Time

[02:28] Gap Nights

[03:30] Check In Check Out

[08:52] My Year

[10:35] Wrapping Up

The Superhost Library covers everything a successful host needs to know and understand to buy the right properties, mitigate risk, and maximize profit, all while creating a unique experience for guests and building long-term wealth. Click Here to Learn More > https://buildstrwealth.com/thelibrary

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