Are you unknowingly leaving thousands of dollars on the table with your Airbnb or short-term rental listings?
In this episode, I sit down with short-term rental revenue management experts Jillian Heilman and Karin Leung to uncover how small pricing and listing tweaks can unlock big profits for Airbnb hosts.
We dive deep into key strategies every short-term rental owner needs to know—like optimizing booking windows, avoiding common Airbnb pricing mistakes, and eliminating revenue leaks you may not even realize are happening. Jillian and Karin reveal how they use dynamic pricing tools, create high-performing seasonal rate profiles, and why a reactive pricing approach is causing many Airbnb hosts to miss out on bookings and revenue.
But it’s not just about pricing—listing optimization plays a massive role in increasing your Airbnb or short-term rental property’s visibility and profitability. We break down the power of photo placement, keyword-rich descriptions, and how to position your short-term rental to attract high-value guests without slashing your nightly rate.
If you’re an Airbnb host or short-term rental investor who’s ready to increase occupancy, boost average nightly rates, and grow your bottom line—this episode is packed with actionable strategies and insider tips to help you master Airbnb revenue management and become a more profitable host.
HIGHLIGHTS AND KEY POINTS:
[00:59] A short introduction about our guests Jillian Heilmann and Karin Leung, and how they got into managing revenue for owners and hosts of short term rentals
[06:05] What is a booking window or lead time, and why is it important for owners and hosts to pay attention to it
[10:09] The strategic use of discounts based on where you are within your average booking window
[14:18] Jllian and Karin’s thoughts on how often should someone continue to inch their prices down
[19:20] The seasonal profile approach and why they are so important to have at a more granular level than just the four seasons of the year
[23:45] What is the best approach or recommendation to pricing for those far-out bookings
[29:08] The declining daily rates in saturated short-term rental markets and how to monitor them using market data tools
[31:11] Staying competitive in saturated markets without dropping prices
[33:44] The importance of comprehensive listing optimization and captions for each photo to enhance the guest experience
[36:24] Karin and Jillian’s words of wisdom for hosts to get started and get comfortable with managing their revenue
[39:59] The value of outsourcing tasks in your business that you don't enjoy to focus on what you excel at and love doing
[41:42] The lightning round
Golden Nuggets:
“It's really important that you understand where your market is and where people are and how people are booking within that lead time. So if your booking window has really shortened, you’ve got to make sure that your pricing is right in line.”
“If a week or two goes by and you don't have any activity, then you know that something needs to happen in your pricing to move the needle. So the longer you wait, you know the more negative impact can happen.”
“Keep your prices competitive enough that if you were to get that booking a year out or three months out, you're still happy with it.”
“I would not recommend utilizing any pricing optimization through any of the OTAs, because a lot of times they're pricing for the benefit of getting as many bookings as possible, which means, not necessarily maximum revenue.”
“Think about what you enjoy doing and the value of your time leading your business.”
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Website: stepbystepbnb.com
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