Market Saturation

[Lydia593]

Hi All! 

I'm wondering how those of you who have sustained a foothold in the ever changing short term rental market have managed to do so?

I started my Airbnb journey a little over a year ago, and had a handful of guests before renting to a long term tenant.  Doing so with house #1 allowed me to purchase a second investment property.  Both properties are now listed and I want to make sure I am doing everything I can to maximize their potential.  

My bookings seem to be hot one week--and I will consistently get bookings on several consecutive days--and then not the next.  Is this par for the course or the result of an oversaturated market? 

Several people I have talked to have commented about how "everyone" is doing Airbnb, which is discouraging.

I am committed to my business and know my vision and attention to detail will help me stand out, but am also open to practical advice on how to rise above in a market that seems to be saturated.

Maybe "just keep going" is the advice?  How long did it take those of you are are successful and secure on this platform to get to that place?

Thanks in advance!

[Mike-And-Jane0 · Accepted solution]

@Lydia593 I think your 'just keep going' is the best advice. The market will self correct as people who piled into STR post the pandemic will soon leave when they find out its not a magic money tree. Once this happens then STR hosts will make money again. Of course more people will then be attracted and the whole cycle will start again.

[Lydia593]

Thank you 😊