A Fresh Market: How Hosts Can Tap Remote Professionals
It isn’t all sunshine and rainbows—and that’s a good thing! People are no longer traveling just for vacation. Homeshares are increasingly being used by remote workers looking to shake up their environment. However, many hosts—working on Airbnb, Vrbo, Misterb&b, and other sites—aren’t taking full advantage of this burgeoning market.
This business is growing faster everyday, with market volume predicted to reach $107.70 billion—with a capital B—by 2027. It’s as profitable as it ever was! But in order to join the party, you’ll have to differentiate yourself from the 5.6 million active listings. One way to do this is by catering to the remote professional.
We’re going to explore the benefits of optimizing your space to attract this growing
demographic, as well as three key areas where you can elevate our space. If you’re ready to join the remote movement while elevating your rental business, read on!
Hack the demographic
The days of travel are back and better than ever! A whopping 46% of consumers globally say that travel is more important now than before the pandemic. In case you missed it, that’s nearly half. Add this to the growing number of digital nomads (a cooler term for remote workers), up roughly 131% from 2019, and you’ve got a whole new market for your rental space.
Even world governments are taking steps to encourage digital nomads. Stated in the same Forbes article as the above statistic, “As of early 2022, more than 50 countries offer digital nomad visas, including locales all over the globe.” These include Spain, Brazil, Germany, and Norway. Travelers are more-often seeking to establish temporary offices in eccentric locales. This offers several benefits to you as a renter/homeshare owner.
Longer Stays
Your average vacationer may stay for a weekend, a whole week, or maybe even two, but they aren’t setting down roots. But the remote professional, since they’re looking to accomplish a quantity of work alongside play, is likely to stay longer. This means guaranteed income across a wider span of time, decreasing how frequently you’ll search for new tenants.
Premium Prices
If you elevate your space for remote workers, you can elevate your price, too. This is justified as covering extra expenses meant to cater to remote workers, such as improved wifi, monitors, and other tools. You’ll position your listing as a “prestige” space for those seeking optimized productivity in an exotic locale.
Reduced Maintenance
Remote workers come to work, so you can rest easier knowing they won’t be partying or bringing a troupe of rambunctious children. Since they’ll likely stay longer, you’ll also have longer stretches between cleanings, saving you money in the long run.
If it wasn’t apparent before, it should be now, that catering to remote workers is the key to elevating your business. This is how you hack a crowded market. If you’re uneasy at the thought of extensive renovations, know that it’s easier to optimize your space than you’d think. By focusing on three key areas—the office, relaxation space(s), and your aesthetic/theme—you’ll elevate your property and attract this growing demographic.
Optimize the workspace
It’s what they’ve come to do, so make it as easy as possible. This doesn’t mean sticking a desk in the corner with a chair and a nearby outlet—maybe a lamp, too. It means considering what people need to feel focused, energized, and productive. Here’s a basic approach to designing a workspace that’ll have digital nomads knocking at your door(literally)!
Tech, Toys, and Tools
Position the workspace near ample outlets(if they’re limited, provide a surge-protector with multiple outlets) and, for healthy natural light, facing a window. If you’ve got a great view, sell it! Consider providing monitors, laptop stands, and blue-tooth keyboards so renters can work without damage to their necks. These tools also create a sense of techy prestige. A charging station with multiple USB ports is a small but greatly beneficial addition.
Seating & Support
Ergonomic chairs are the go-to for office spaces as they provide unrivaled posture support, reducing back pain and improving productivity. Adjustable desks should be another staple of your space. They offer flexibility to remote workers of all sizes. Given the benefits of proper posture, this should be your first priority when investing in your rental’s remote office.
The Extra Touch
Stylish shelving or an integrated storage system is a great way to help your remote workers feel at home. They’ll be free to store their binders, documents, and other resources, as opposed to organizing everything in a suitcase. A soft rug or room dividers can give the space a cozy, insulated feel, allowing for deeper focus.
Provide the best rest
After working hard, you know what comes next—sleeping hard. While this is a fun turn of phrase, the last thing you want is your renters sleeping on stone-like mattresses. As studies have shown, quality sleep and relaxation is imperative for productivity. You aren’t just designing an effective office space, but an environment that supports their highest potential.
Bed Time
Start with the bedroom basics. A comfortable mattress (memory foam is a go-to for quality sleep), pillows, and blankets. If you want to add a luxurious touch, go with satin pillow cases and covers. This material provides health benefits to skin, hair, and sleep quality. Add black out curtains for travelers who may be adjusting to a different time zone. If you live in a bustling city, do what you can to reduce noise levels.
Down Time
As vital as sleep is to productivity, relaxation is just as important. Creating an environment that fosters creativity and deep thinking requires spaces for reading, journaling, or basic mind wandering. Invest in comfortable seating, lamps, and shelving with a wide selection of books for renters to peruse. If you have the space, add a home gym so workers can burn off before they burn out.
Encourage creativity
Create an aesthetically-rich environment and you’ll take your space from basic to brilliant. Several studies, including one done at the University of Exeter, have proven the effects of one's environment on productivity. The Exeter study showed a 17% increase in productivity among workers in a space decorated with plants and artwork.
This is because bright colors, artwork, and unique design features stimulate the mind’s natural creativity. You don’t need to be a design professional to create a dynamic environment, either. Start with the basics such as plants, natural lighting, a decluttered space, and artwork that follows a theme such as landscapes or whimsical and inspirational. Here’s an opportunity to collaborate with emerging artists to leverage prestige and cross promotion.
Let’s talk about colors. Warm tones have been shown to stimulate creativity and mindfulness. This is one reason why we find oak libraries and candle-lit spaces so intellectually cozy. The University of Columbia found that blues and greens are ideal for focus. Find a balance between these color schemes in order to optimize your remote workers mental powers. They’ll thank you for it with great reviews and enviable Insta posts!
If you really want to fulfill your design potential, consider a theme. This could speak directly to the remote worker, like a space inspired by Apple or Google’s offices(you could sell your listing as a “work like a Google employee” experience). Or get creative with an Oxford library or Regency aesthetic that’s sure to invite digital nomads with dynamic social media profiles.
Elevate your stay
As the trend for remote work grows, the potential to tap this new market grows as well. By optimizing your office space, creating an environment for deep rest, and utilizing the power of aesthetics, you’ll create a rental space that’s irresistible to digital nomads. This is how you stand out from the crowd and hack the digital economy.
Eventually, there will be popular listings designed to cater directly to remote workers. The only question is, will your listing be one of them? If it is, you’ll reap the benefits of longer stays, premium prices, and lowered maintenance while also contributing to one of the most exciting shifts in the workforce to happen in recent decades.
It’s the ultimate win-win!