lack of bookings for this fall

[Ted-And-Shellie0]

HI -  I have a beautiful new listing in an apartment loft area above my garage.  We have been superhosts at another location for 4 years.  We started renting this new space out last April and have been pleased with the response until a month ago.  All bookings have stopped.  I only had two for October and none so far for November and December.  In our other location which is on the same property, we also had at least two - three bookings a month, even in the winter months.  I have lowered the price and we have great reviews, what am I doing wrong?   Thanks for any input and suggestions!

[Mike-And-Jane0]

@Ted-And-Shellie0 I suspect its as simple as too many listings and not enough guests given the current economic situation.

Perhaps check that your property is visible when you do an incognito search of the area.

[Ted-And-Shellie0]

Thanks for the input @Mike-And-Jane0 .  Sure doesn't pay the bills tho does it.  We look all the time to make sure its there, lol.  Even during COVID we had bookings, altho we did close for 4 months.  I do think it's partially a saturation in the market but we live out in the rural area that doesn't have many other Airbnb's or short term rentals around.  I sure hope the economy turns around soon!

[Helen3]

The STR business is a   very volatile market @Ted-And-Shellie0  when you set up the new listing what market research did you carry out on supply and demand for your sort of listing in your location?

What marketing have you done to attract guests you have identified as your target market? Airbnb is just one channel you can use to market your STR business.

If you want to be confident that a property will pay the bills longer term rentals are a much safer investment. 

[Kathy1371]

According the the conference call — short term rentals have saturated the market.

I’m going thru the same issues.