Smart Home Technology Can Increase Airbnb Earnings, Study Confirms
Airbnb is growing at an unprecedented rate. There are now more than 2 million spaces listed worldwide and, with every new host that joins, the market becomes ever more saturated. It’s growing harder and harder to maintain a competitive edge so, as a host, you have to get creative. The time has come to embrace ‘smart home technology’.
What Is Smart Home Technology And Why Should I Care?
You see the term ‘smart’ thrown in front of just about any product these days as some kind of ploy to convince you that buying it will further your brain capacity.
So I won’t blame you for thinking that ‘smart home technology’ is another one of those meaningless tech phrases with no real-world application.
However, in this instance, you would be mistaken. Recent research published by August Home Inc. found that 60% of guests would actually pay more for a vacation rental with a smart home feature.
But what is smart home tech? It’s basically any technology which integrates household appliances, heating, lighting and entertainment systems with smartphone/tablet applications. This allows hosts and guests to control things like thermostats, lights, locks and alarm systems all from the comfort of their phones! It includes things like:
- smart home security systems,
- touchscreen appliances,
- app-controlled thermostats,
- video-enabled doorbell cameras,
- app-controlled smart locks,
- app-controlled streaming media/movies/music,
- smart TVs,
- internet-connected indoor/outdoor cameras, and
- app-controlled smart lighting systems.
Still not convinced? What if I told you that 90% of business travellers and 82% of vacation travellers are more likely to complete reservations if a property has smart home technology installed?
Airbnb use by business travellers grew a staggering 249% in 2015, so if you want to start attracting this rapidly emerging sector, it’s time to embrace smart home technology!
Incorporating Smart Home Technology Into Your Airbnb Is Easier Than You Think
You may already have some of the above technologies installed in your home. If you don’t or are looking for ways to add more, then read on.
The study also revealed the most popular smart home technologies for both guests and hosts:
Lets explore the three most popular choices further…
1) Smart Entertainment
Among the top-rated technologies for guests were smart TVs (a flat screen that connects to WIFI) and app-controlled streaming for media, movies and music. This is great as these features are really easy to add to your Airbnb.
You can pick up a smart TV on Amazon fairly cheaply and you probably already have a Netflix, Amazon Prime or Spotify subscription. You should consider adding a Sonos system or other Bluetooth speakers, as well as a HDMI cable for connecting laptops to the TV.
2) App Controlled Smart Locks
Smart locks allow you to unlock/lock your door using an app, eliminating the need for a key. You can also monitor which users are accessing the property and at what time. This is great for keeping track of service workers or guests when you are not home.
But, there’s more. Smart locks also make trips less stressful for both hosts and guests. This is because 75% of guests worry they will lose their key and 65% worry they will forget to lock up. A further 66% of hosts also share this concern.
Smart locks enable smoother trips and increase security which undoubtedly leads to more future reservations. So what are you waiting for?
You can find a good review of the current smart locks on the market here.
3) Video Enabled Doorbell Cameras
This great piece of kit can be used to see and talk to whoever comes to your door, allowing you to easily manage your Airbnb remotely from wherever you have WIFI. It also adds an extra security element which 90% of guests said gives them peace of mind when staying in an Airbnb.
Tell The World (of Airbnb)
These may be some of the easiest technologies to install in your home, but there are loads of others which we have not covered here. If you’re serious about smart home tech, then take a look at the full report.
Now you’ve moved your Airbnb into the 21st century, it’s time to publicise it. Make it clear in your listing description that your space includes smart home technologies and list which ones you provide!