Learn how to manage your Airbnb Costa Rica rental like a boss. Get easy advice on how to setup the property, and quick tips on how to start promoting it to target guests.
Your beautiful vacation home is your own piece of paradise, but it can also be a great source of income by turning it into an Airbnb Costa Rica rental.
And, if this is something you’re interested in, it’s a great idea to start getting familiarized with how the industry works, and the full Costa Rica Airbnb rental process.
Airbnb Costa Rica Reviews:
“A while back, my wife and I were in the talks about renting our home in Costa Rica, but we considered it was too much work, a lot of risks involved. The truth is, when we actually gave it a try, we couldn’t believe how easy it was, and still is, and much more important than that, just how rewarding and profitable.” Dan M.
Check our our extensive list of the best Costa Rica Vacation Rental Tips.
Airbnb Costa Rica Step #1: Goals to Getting Started
You probably don’t think of your property as an Airbnb Costa Rica rental, but when you set it up properly, you have just discovered a new way to obtain great earnings.
Just like with any sort of business out there, the main thing is to set clear goals.
What is it that you really want to obtain by renting a home in Costa Rica?
The answer to this question is quite simple: You just want to make cash by finding new guests continually that are willing to pay you for staying in your Airbnb Costa Rica property.
And, to do this, the first step is to know what your goals are and to define them in detail by outlining a plan that allows you to achieve your objectives trouble-free.
Airbnb Costa Rica: Determine Your Goals
First, you need to make sure about how many weeks during the year you would like to use your home, and how many are you willing to offer it as an Airbnb Costa Rica online rental.
The next step is to brainstorm about what your financial goals are:
- Do you want to offset a part of your costs?
- Are you hoping that the revenues from your Airbnb Costa Rica will pay for all the expenses related to owning a vacation home?
- Or you simply just want to make a great profit, and if that’s the case, then how much?
Airbnb Costa Rica: Break-Even Point Formula
If the main goal for your Airbnb Costa Rica property is to use all the rental profits to pay for the expenses related to owning your home, there’s a great formula that can help you calculate what your break-even point is:
If you have a mortgage that has a monthly payment that’s less than, or equal to one peak-week rental fee, and you’re renting about seventeen weeks per year, then your Costa Rica vacation rental should come close to breaking even.
There are also other costs, such as utilities, that can be paid from profits obtained from about five weeks of off-peak Airbnb Costa Rica rentals.
Let’s say that you have a Costa Rica condo that comes with a monthly mortgage of $2,000, and you rent your vacation home for $2,000 per week, then you’ll only need to rent twelve weeks so that you can completely break even on payments related to your mortgage.
Airbnb Costa Rica: Level of Involvement
Once you’ve made the decision of creating your own Airbnb Costa Rican rentals business, the next thing to do is to determine how much time you want to put into the whole rental process.
This is because renting a home in Costa Rica will require some time, effort, and dedication to have success.
And so, a lot of owners choose to hire property management companies to handle all things related to their Airbnb Costa Rica property.
While others decide to go for the “rent by owner” model, where they run everything by themselves.
Now, these are the tasks related to managing a Costa Rica Airbnb rental home:
- Advertising the property
- To respond to inquiries fast
- To make reservations and payments from every guest
- Managing all things related to the sales tax
- To manage all requests and complaints from guests properly
- To hire people to take care of the property, such as handymen and housekeepers
- Scheduling the proper housekeeping in between guests
- To manage everything related to maintenance issues
Airbnb Costa Rica: When to Work with A Property Manager
If you really don’t count on either the desire or the time to run your business, but you still believe in it, then your best bet is to hire a property management company.
They will make sure everything will run smoothly with the property, without sacrificing your freedom.
Airbnb Costa Rica: Rent by Owner
If you feel that you want to run everything related to your Airbnb Costa Rica rental yourself, consider the following rent by owner tips:
- You should have the DIY personality type, as you will definitely need that kind of spirit to keep everything together and running great.
- You have a need to be fully involved, and have total control over who’s renting your Costa Rica Airbnb home.
- In your thinking, there’s no need to pay commissions to a property management company.
Remember: Nobody gets it right the first time. And, there’s no right or wrong way to handle all things related to an Airbnb Costa Rica rental as all cases are different. But, with this in mind, think about how much you want to be involved, because that can mean success or failure for your new business.
Airbnb Costa Rica: Hiring Helping Hands
If you do decide that you don’t have time to manage your Airbnb Costa Rica vacation rental, or because you just don’t want to get too involved, then it’s time to hire a property management company.
When you choose to go this route, consider the fact that you’ll likely be charged a 10% to 50% commission of the total rental income you get.
Now, before hiring a vacation rental management company you’re interested in, consider the following factors:
- Will they be able to advertise your property just locally, or also internationally?
- Will they be interviewing guests before renting your Airbnb Costa Rica property to make sure they’re suitable?
- Are they going to do a full inspection of the property before and after each rental, and do the proper inventory recount?
- Will they be welcoming guests right at the property when they arrive?
- Are they going to organize the necessary repairs and the proper maintenance, and will they provide you with the proper receipts for all expenditures?
Airbnb Costa Rica: Housekeeper or Cleaning Service
If you’re planning to do everything yourself under the renting by owner model, one of your biggest challenges can be to manage cleaning issues from a distance.
For this reason, it’s paramount for you to find a cleaning service or housekeeper you can really trust.
Airbnb Costa Rica: Handyman or Maintenance Person
You should also consider hiring someone that can take care of the overall maintenance of the property.
Everything that’s not cleaning, this person will be doing.
Airbnb Costa Rica: Legals
Before you try to get the very first guest for your Airbnb Costa Rica rental, make sure to hire the services of a local attorney that’s familiarized with the vacation rental market, and who can provide you with wise advice on the best practices for the local laws.
You also want to hire an accountant or tax advisor that can help you with everything related to bookkeeping procedures and income tax implications for you as the owner of an Airbnb Costa Rica rental property.
Airbnb Costa Rica: Prepare Rental Home for Guests
Your Airbnb Costa Rica rental property is likely already decored and furnished.
But you still want to go a step beyond the standard and try to find a balance between your own convenience as the owner, and the comfort of your guests.
The very first thing you must do is to take a walk through your property and remove all objects which you consider irreplaceable or valuable in any way.
Then, keep a closet that’s lockable so that you can store personal stuff and different supplies which you or the people from maintenance or management need to keep handy.
Now, by doing this, you accomplish two things: first, you remove all valuables, and second, your remove all clutter, leaving the Airbnb Costa Rica rental with more room for guests to enjoy.
Airbnb Costa Rica: The Kitchen
People are definitely looking for convenience at the kitchen of their chosen Airbnb Costa Rica rental.
You should keep enough plates, flatware, and glasses for double the number of guests your home rental can keep.
And, let’s not forget about the small things that are well appreciated, such as a good coffee pot with a timer, great cooking gear, and a very convenient, beautiful dining room table.
Airbnb Costa Rica: The Bedrooms
Your Airbnb Costa Rica rental home should include ample bedding, with at least 2 sets of quality sheets for each one of the beds in the unit.
Pillows should include pillow protectors and don’t forget about mattress pass and extra blankets.
Also, it’s important to keep a reading lamp and an alarm clock on a bedside table in each one of the rooms.
Airbnb Costa Rica: The Living Area
You want your living area to be ample, or at least keep it free of clutter to give the best first impressions in that sense.
It’s key for you to keep great comfortable seating for the number of guests you can keep in the unit.
And also add a nice large TV with access to a service like Netflix or YouTube Premium so that people can relax and enjoy themselves during the evening watching a show after collecting thrilling experiences outside during the day.
When it comes to entertainment, you should also keep cards, maybe poker-related stuff.
And really everything related to the most popular board games for those that prefer to keep themselves inside the Airbnb Costa Rica rental during their vacation, or for rainy times.
Airbnb Costa Rica: The Bathroom
This is an essential area, as a good or bad first-impression here is all it takes for a good or bad review at the Airbnb Costa Rica website.
So, you definitely need to hire a responsible maid that will attend to this important need, no-exceptions.
You want guests to enter the bathroom and find it spotlessly clean.
And you also want to have plenty of towels, more than the required number.
The minimum you should provide is:
- 2 bathroom towels per person
- 4 washcloths per person
- 2 hand towels per person
- 1 hairdryer
Airbnb Costa Rica: High-Speed Internet
Some of your guests will be doing work at the unit from their laptops.
And some guests will even visit you just to have a relaxing time and get some work done away from the crowds of home.
So for that reason, it’s imperative that you count on a reliable wi-fi connection that’s really fast, and that it allows your guests to run any web tasks just like they would from home.
And, with the covid-19 pandemic, Costa Rica is a country that’s being promoted as one of the future most important destinations for the new and popular digital nomad lifestyle.
So, you can even think about creating your own paradise for digital nomads in the country, and run a succesful Airbnb Costa Rica from that particular world view.
Airbnb Costa Rica: Other Extras
Other extras that you can offer and that really make the difference are:
- A first-aid kit
- Videos, games, books
- A video game console
- A pool table
- Expresso machine
- Beach gear
Airbnb Costa Rica Step #2: Marketing Your Rental Property
Now it’s time that you were probably waiting for: this is where we tell you how to you can start getting new guests for your Airbnb Costa Rica rental home.
Once your property is set, and you’ve figured out everything related to home management, then it’s time to start getting eyes on it!
And of course, the way you do this is by visiting the web, and search for the Airbnb Costa Rica official site, and add your property.
Now, this not only includes the website for Costa Rica Airbnb, but also others such as VRBB and HomeAway.
An also a wonderful idea is to create your own website and optimize it with Costa Rica SEO services so that people can find your property directly when they do a search for an Airbnb Costa Rica rental in your area.
Airbnb Costa Rica: How to Target Travelers
Before you add your online listing and create a website for your Airbnb Costa Rica rental, sit down for a minute, and brainstorm about who your target guest is.
When it comes to how travelers search for vacation rentals, this is the criteria most of them have in mind when doing so:
Great Location And Proximity to Attractions
You want to advertise to people that might be interested in the attractions located on your property.
So, for example, if your Airbnb Costa Rica property is located in Avellanas, Guanacaste, you should advertise everything this stunning area of the country has to offer.
And to keep with the Avellanas example, if your Airbnb Costa Rica is located here, you definitely want to advertise the list of the best restaurants in Tamarindo, etc.
Airbnb Costa Rica Rental Price
Guests are also very interested in the price of properties, so make sure your prices are the most visible part of your online ad.
And by setting the correct price at the Airbnb Costa Rica website, you can also make sure your future guests will find your stunning property when they do a search based on price for your particular area.
Airbnb Costa Rica Rental Property Size
Don’t forget about stating the exact size of your Airbnb Costa Rica Rental home, and also specify the number of people it can accommodate.
A guest will be interested in the kind of setup you have, and the seating that’s available in the property, including that of the dining room and the living area.
Now that you know all about setting up your Airbnb Costa Rica Rental, and have great tips on how who to target online, we hope your vacation home will remain booked for all dates available, and that this is just the beginning of a very prosperous future for you as a rental entrepreneur.