Setting up an Airbnb in Edinburgh can be an exciting and profitable venture. The city is home to stunning architecture, a rich history, and fascinating attractions, which has helped to attract travellers from all over the world.
Whether it’s theatre lovers looking to make the most of the Edinburgh Fringe Festival’s wide range of stand up comedy and up and coming plays, or history enthusiasts exploring the castles and palaces, Edinburgh has a stream of tourists all year round.
So, if you’re thinking about setting up an Airbnb in this incredible city, here are five fantastic tips to set you on the path to success!
1. Choose the Right Neighbourhood
Edinburgh has a wide range of neighbourhoods, all with their own pros and cons. For example, suburban areas outside of the city may be cheaper for you when purchasing your property to turn into an Airbnb, however tourists may be reluctant to travel in and out of the city each day.
In contrast, properties in the city centre will be more expensive for you to buy, however they may prove to be a better investment in terms of the potential income that they should generate.
2. Create a Stylish Space
When attracting Airbnb guests, you’ll want to focus on creating a stylish space that will help you stand out among the other listings.
For example, the use of decorative wall panels from experts such as Lawcris will allow you to create stylish feature walls that are easy to maintain and clean.
Plus, use of laminate or melamine can allow you to create the effect of high end materials such as marble or granite, without the high price tag that accompanies them.
3. Prioritise Guest Experience
When preparing for your guests to stay, it’s important to prioritise their experience. Consider providing an information pack with suggestions of sights they might be interested in seeing, or restaurants you have tried and love.
You could also include amenities such as shampoos and bathrobes, and stock the fridge and cupboards with milk, juice, cereal, tea and coffee. While your guests may choose not to use them, they have the option for a quick breakfast before they start their day out in the city.
4. Understand How to Price Your Property
Pricing your property competitively is essential if you hope to secure regular bookings. You want to ensure that you aren’t too expensive that your potential guests choose to look elsewhere, but also make sure that you don’t underprice yourself as this will minimise your profits.
It’s also important to remember that prices for Airbnb’s in Edinburgh fluctuate throughout the year, and you’ll likely be able to charge more during times such as the Edinburgh Fringe Festival as the demand for accommodation will be high.
5. Be Responsive and Encourage Reviews
Being a responsive host is essential to helping ensure that your guests have a pleasant experience. Make sure that you take the time to respond to any queries promptly.
You should also encourage your guests to leave reviews following their time with you as this can encourage other potential guests to choose your property.
Have you set up an Airbnb in Edinburgh? Share your tips and tricks for success in the comments below!
