Disclaimer: This article is for Airbnb hosts and homeowners who rent out their primary or secondary properties on short-term rental websites. If you haven’t taken the plunge yet, or are just in the decision process, I suggest you check out Rented.com’s Ultimate Guide to Vacation Home Ownership. This is a great resource for folks looking to get into home-sharing but aren’t sure if it’s right for them. And now, for our regularly scheduled programming.
As an Airbnb host, I am always on the look-out for useful ways to expand my small business. Yes, Airbnb hosting is certainly a small business.
Once you’ve established your home-sharing business on Airbnb, the best way to increase cash-flow is to platform stack. Platform stacking is the process of using your profile from one sharing economy website, Airbnb for instance, and placing it on another similar website. This simple trick will help you expand your customer base with minimal effort.
Platform stacking isn’t out of disloyalty to Airbnb. It’s rather a habit that I can’t seem to avoid. As entrepreneurs, we’re always on the lookout for new ways to increase our income. This isn’t a purposeful move; rather it seems unconscious at times. Like we were born with an instinctual need always to do better.
This can be a blessing and maddening at the same time, but that’s a discussion for another day.
Today, I want you to embrace that instinct. In the world of home-sharing, there are so many Airbnb alternatives that can help you increase cash flow and help you hustle.
Mikey Carter is a Casual Capitalist community member who is killing it in the sharing economy, specifically Postmates and Airbnb. Mikey got in touch with me a few months back and introduced me to his most recent sharing economy discovery: Tansler.
“Glenn, have you heard of Tansler?” Mikey fired off in our Skype chat.
“What’s a Tansler?” I asked.
Mikey continued, “I’ve been using it for a few months now, it’s a home-sharing platform, similar to Airbnb, where you list your vacation property in a reverse-auction format.”
As Mikey and I continued our conversation, and I pretend like I totally knew what a reverse-auction was, I frantically jumped on Google to do some research.
Theory #1: A reverse-auction is a sick skateboarding trick. False!
Theory #2: A reverse-auction is where someone suggests a price they’d pay? Warmer!
Correct Answer: Tansler, an anagram of ‘Rentals’, is the only home-sharing platform that allows renters to name their price and submit a binding offer to multiple hosts. This is a reverse-auction, where a bidding process is initiated by the renter to multiple homeowners.
“But isn’t it a little unsettling to let renters choose their own prices?” I asked Mikey.
“Not really,” Mikey continued, “once you actually are involved in the process, you see that the reverse-auction model actually solves common Airbnb hosting problems.”
Mikey was right. What I quickly discovered is that Tansler eliminates the back-and-forth between renters and hosts typical of other home-sharing websites like Airbnb. This in turn makes the rental process simpler and faster.
Once an offer is accepted by a host, the offer is binding and there is no haggling, cancellations, or special considerations.
Further, hosts don’t worry about cancellations because bookings are final and binding. That is, because renters get the benefit of choosing their rental rate, they cannot cancel their booking after it has been confirmed. As a host, this gives you peace of mind that your calendar is 100% accurate and will not alter due to last minute cancellations.
The payout is also quick, and you don’t need to wait until the renter arrives at your property. Unlike Airbnb, Tansler owners receive their payment within 48 hours of the booking. Not bad!
It’s free to list on Tansler, and only once you get a successful booking, do you pay a flat 3% fee. Simple as that.
One thing I have heard from people in my community is that Tansler is super easy to sign up for. In fact, Una commented the other day on another blog: “I signed up to Tansler, extremely easy to sign up.” And I couldn’t agree more.
Once you sign up, then Tansler renters can add your property to their auction basket. Here’s how this works:
I know what you’re thinking: “why on earth would I let someone else choose the rate they pay?” But, what’s the worse that can happen? To decline an offer, it takes exactly 0.25 seconds, as demonstrated by famous Canadian comedian Jim Carey:
But, at least you had the option to get a renter! That 0.25 seconds was calculated after weeks of scientific research and specialty equipment by the way.
As a host, if you don’t like the price being offered all you need to do is decline it. Nothing about Tansler commits owners to accept offers from renters. Simple as that.
“Tansler gives me the flexibility and option of filling vacancies in my Airbnb calendar.” Mikey continued, “my average annual occupancy rate listing on VRBO and Airbnb was 70%. After listing on Tansler that jumped to 88% in just two months, which accounts for an extra $3672 of annual income.”
For small business owners, this type of profit increase can be game-changing.
Tansler is a unique sharing economy company because it empowers prospective renters by letting them choose their price. This in turn helps hosts like us fill vacancies and increase cash flow.
*Glenn enters room with a gavel*
“I have sharing economy innovation going once, twice, SOLD! To Tansler for their reverse-auction business model.”
I couldn’t help myself! Go check out Tansler and let me know what you think.
According to their website, anyone who lists gets a $75 travel credit. Tansler also has a host referral program, where you can earn travel credits.
Good luck with this Airbnb alternative!
Glenn Carter is a sharing economy expert and is sharing his passion for side income through new digital platforms with his readers.