SANTO DOMINGO– The Airbnb platform represents one of the great strengths of the real estate industry. Cindy Castillo, a coach and real estate agent, stated today that from January to May of this year, 613,000 users in the Dominican Republic used the short-term rental option.
During her presentation at the AEI International Congress, “The New Real Estate Era,” the prominent agent spoke at length about the advantages of the short-term rental model, highlighting its profitability and security. “It comes with a million-dollar insurance policy.”.
With the presentation “How to create and boost your Airbnb business”, Castillo stated that the Dominican Republic received more than 613,000 users through the platform from January to May of this year.
Castillo also referred to the disadvantages of the model, such as the fact that the property is not always occupied, the investment is higher than the down payment, "you have to keep an eye on the property and you pay the profits.".
Castillo, who along with her husband are short-term rental investors, suggests that those in the Airbnb business should have their reservations because the property will not always be occupied.
“It’s for people with cool heads because there are months when it’s not rented, so you have to have reserves,” explained the Dominican woman based in Florida.
When discussing business creation, Castillo advised agents to develop a business plan for Airbnb. “Conduct market research, determine your target audience, evaluate your services, create a pricing strategy, calculate startup costs, fixed costs, maintenance and administrative expenses, think like a guest, and automate the process.”.
He called on real estate brokers to form alliances because unity brings money, to create a structure and to implement a learning method where each day has something to contribute.
Other recommendations offered by the experienced real estate coach included considering the decoration of the spaces, the details, connecting with emotions, always keeping the place clean and organized, using natural light, taking photos at eye level, achieving at least ten stays per year, responding to guests quickly, maintaining a 90% response rate, having at least 80% 5-star reviews, honoring confirmed reservations, and having automated messages.
Airbnb advises those who manage properties to be available at all times, know the rules, check that the property is up to date, make local recommendations, provide a personalized experience, and maintain the inventory.
