Home Improvements To Increase Profits

No wait a second.
Instead of spending money on soundproofing, he should try to market himself as a good fit for those looking for a lively spot to stay in central London. Sell the “con” rather than try to cover it up. Coz no matter how much soundproofing he tries to do (a waste of money IMHO) he will get guests who complain. If you book in soho, that is part of the charm. Sell it, don’t cover it up!

4 Likes

That’s why the OP is angling for the youff and student types. It’s still gonna be mega loud. :slight_smile:
And that’s from someone who adores the area.

2 Likes

If I had a choice between real bed and sofa bed, the real bed wins. People don’t go to London fo quiet and rest IMO. Good bedding is more important than art.

2 Likes

Great strategy @AirbnbHost-Dennis

1 Like

These three groups all have different requirements. Young professionals want high-speed internet, for example, and proximity to local businesses. They will also want to be close to a Starbucks or similar in case there’s a problem with your internet.

Couples might be looking for a romantic break, a babymoon or somewhere to stay when celebrating an anniversary. They will need a wonderful bed and bedding ( :wink: ), plush bathrobes and even chocolates. And no TV in the bedroom - they have better things to do there.

Students are looking for budget-conscious accommodation close to their university or college. They might also want to be close to nightlife, pubs and the local union bar. Plus they’ll also need to have a desk and/or somewhere to store reference books etc,

There’s no reason why your listing shouldn’t provide all of these but it might be an idea to hone in on these issues.

3 Likes

We do have super rich students in London. For example the university I worked at; most of the students carried bags that are worth the deposit on a house (yes hermès), and I know of at least two occasions where another student took friends for dinner in a helicopter …to Paris. Yep. So you can get students with big budgets, if anywhere definitely in London.

I was thinking about my impoverished student days in Manchester! Sad to say that it was SO many years ago. :slight_smile:

2 Likes

Most students are impoverished. London universities just tend to draw wealthy internationals and I can see how a listing in Soho would do the same

2 Likes

As someone else posted on the forum recently, a good night’s sleep is important. Poor sleep leads to being cross about everything. So a white noise machine and a good mattress first. After you get some bookings and feedback consider windows but they are expensive compared to your other options.

1 Like

I totally agree with Kona about the noise – don’t waste money on soundproofing that won’t even be that effective. There are tons of people who are not noise-sensitive and those are precisely the guests you want. I rent a very noisy apt in our basement and I state this very prominently in the listing – I have hundreds of guests who not only didn’t care but they loved the apt. (I don’t get it…)

Go with superficial improvements to make the space more aesthetically appealing. Personally, I don’t think professionals in their late 20s are turned off by IKEA. If you can offer a pulled together “look” through all-IKEA furniture, I think that’s much more appealing (and photographs better) than a mish-mash of mid-range furniture. I was actually in IKEA yesterday for blackout curtains and I was very surprised at how varied and hip their art selections were – I had no idea. As long as you stay away from their white particle board dorm room type furniture, there is a ton of IKEA furniture that looks great. Streamlined, clean, modern, great color.

3 Likes

@chicagohost @KKC @Zandra @jaquo @konacoconutz Many thanks for all the advice ! Its greatly appreciated! To be honest I’m a bit surprised at the overwhelming kind responses and help :smile:

In regards to my last question around financing on my initial post, what are everybody’s thoughts on Clearbanc.com or payfully.co ? A friend recommended Clear Banc to me. He’s been using their working capital product to grow his portfolio faster: they give him a lump sum up front to start up a new airbnb and then take a % of future earnings?

To be brutally honest, if you need financing from something like payfully to buy some art and a microwave you should take a long look at your budgeting and spending habits. Even for a bed. When looking at any financing option you should consider interest rates and fees. I’m not familiar with Clearbanc but I am very wary of creative financing options that cost more in the long run than they are worth. There was another thread here on the forum about payfully which you should be able to find using the search function.

2 Likes

@KKC thanks I will check it out. To be honest I’m more familiar with clearbanc instead of payfully. I do have the funds to make all the above purchases. I am also keen to expand, and having access to working capital would allow me to take on more listings faster.

1 Like

Agree with Karma on these. They are basically payday lenders for Airbnb. Some here have had good experiences or success with them, so you could try asking.

But I honestly don’t think you have to go overboard putting a lot of time and work into these STR apartments. Since you are in London, I do believe, but could be wrong, that London is beginning to severely limit STRs and permits are needed. So if I were you I would start out with the Soho pad and get a feel for hosting and the work involved before expanding.

And you are welcome, the Air host forum can be a peanut gallery but in general we love to be able to pass on the live and learn thing to spare you the learning curves! Or at least give you a heads up about them. :sunglasses:

1 Like