How to turn your real estate into welcoming homestays like Airbnb

Homestays are a fairly recent trend in real estate. More people are opting for a home-like ambience instead of posh five-stars. Indians are catching up with this trend by turning their real estate into profitable homestays like Airbnb.

Many struggle with the idea of making money from their properties. To make it simpler, we have curated a guide for you that explains everything about homestays.

What do you mean by homestays?

Homestays are lodging facilities for visitors. If you opt for a homestay, you get to live with a local family – also known as the host family. It has become a creative idea to make real estate profitable by tapping into the growing unorganised hospitality sector.

An example would be Airbnb which has made homestays look cool. However, Airbnb has more options such as staying by yourself because Airbnb usually acts as an alternative to hotels. In a homestay, you will have to live with the host. 

How to turn your real estate into profitable homestays 

List your property on online platforms. You can leverage social media to increase your reach, but listing on online platforms is the key.  You can also drive traffic to your homestay by posting ads on social media.

Airbnb is a great platform for homestays as you have more control on the rate. Sites like Tripadvisor don’t charge money for listing, they take a small percentage as commission for each booking.

There is no limit on how much space you want to rent out. However, you need to upload and verify your identification on online sites.

5 tips to turn your real estate into a profitable homestay

• Go vocal for local – Most tourists want to experience authentic local cuisines, history and art when they visit a place. Try to incorporate more local decor into your real estate. If you plan to live with your guest, arm yourself with facts and history about the region. Hiring a guide is also a good idea to make the experience more unique for your guests.

• Standardized amenities – Feeding your guest might be a choice but you need to provide standardized amenities. This means clean rooms, good hygiene and sanitation, good network and access to local cuisines. While many tourists are on vacation, they still need good WiFi. Make sure to invest in good WiFi.

• You better learn your rules – Rules and boundaries are important in homestays. This protects the interest of both the guests and the hosts. Creating a set of rules and guidelines for the guests is a responsible way of tackling issues. Have copies of your rulebooks in your homestay.

• Customised experiences for guests – Personalization is an important part of customer experience today. If you add customized services, your guests will have an improved experience. You can do this by adding several features such as local cab services, food, and tours. Collaborate with local businesses to give your guests the best.

• Post on social media – Social media, particularly Instagram is key for driving traffic to your homestay. By adding behind-the-scenes pictures, feedback from guests, and pictures of your real estate, you can increase your visibility. Update your socials with property description, add interesting tidbits to grow your customer base.

Frequently Asked Questions about homestays 

• Who are my guests?

Guests can range from solo travellers, students to families. It depends on you, and the space that you are renting out. 

• How much space do I need to turn my home into a homestay?

If you can spare one bedroom in your house, then you can turn your house into a homestay. You can also own multiple homestays in different cities.

• Do I need to cook for guests?

It is not necessary but preferable to add services like food for your guests. 

• What are the benefits of homestays?

If you’re looking for affordable, unique experiences, then homestays are the best option. You get to explore local cultures and get customized services.

• Who will be my hosts?

These are usually families that own the real estate or caretakers of the estate. It could be one person or a small family. 

• How does a homestay work?

In most cases, the guest and host live together and exchange knowledge about cultures, regions and cuisines.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.