Peerspace Review – Why Peerspace Creates More Bookings For Hosts Over Competitors like Airbnb
So Peerspace is hands down my favorite
site right now to list all of my venues on
whether it’s my short-term rentals my flex space
or my event spaces and the reason why
is it has so much more flexibility.
You can make a lot more revenue and I’m giving
you a full detailed Peerspace review in the
link below so go ahead and click that if
you want to skip this video, otherwise,
this video is going to give you a good overview
of everything that I love about Peerspace.
So, number one the Airbnb short-term rental
model is one price for a 24hr period.
However, with the Peerspace model,
you can price it by the hour.
And you can actually change the price depending on
the use of the venue. For instance, a photoshoot
where a lot of things may not be put out of
place and there may not be a lot of damage.
You can charge a lot less
per hour than you would for a
party where you know they’re going to bring
food in they’re going to bring drinks in.
You know there is going to be a
lot more to clean up afterward.
There are actually opportunities where
you can rent out individual
So, if you just have a conference room
in the space that you’re in that you want to
rent out. $35, $45, $100 an hour you can do that.
The pricing is not as
connected to the neighborhood or
area that you’re in also like Airbnb.
For instance, if you’re in an area where
the average nightly rate is only $149,
it’s kind of hard for you to command $400.
But however, if you have a really nice
space like this you can charge $95,
$195 an hour depending on your market. And make
a lot more revenue in the same amount of time.
Something else I like about the
difference in the pricing model is that
when you think about the revenue
and the cost of that booking,
it’s a lot less when you don’t
have a guest staying overnight.
You’re actually not running a hotel
you can actually clean up in between
the guests. It’s a lot lighter. And
it’s a lot easier to handle and manage
even though you can have multiple
bookings in the same day.
So, in addition to the difference in the pricing
model, you can also do custom quotes. So,
before a guest book their actual stay you have the
opportunity to review what they are asking for.
You actually have to review and add on extras if
they ask for specific things. Let’s say they want
audio equipment, or let’s say they want access
to something special with the tv network.
You can set all those things up and make those
costs on top of the regular booking fee. Now,
something else that’s important is that
you have the right to customize the quote.
You can lower a quote. Say you
want to give a veteran discount
say you have a friend you want to charge
half price; you can actually do that as well.
So, you have a lot of flexibility with the
model. And there’s also an option for an instant
booking. So, if they choose instant booking
it minimizes the amount of communication.
However, you will not have the flexibility to
change the price point. The only thing you can do
is reach out to them and maybe cancel the booking
and reset if you see something out of line.
So, you’re probably wondering what types of
venue spaces are good to put on Peerspace.
And I’m going to tell you
literally any type of space.
Anything that anybody will want to rent for
any reason. Even if it’s an old, abandoned
house. Hey somebody with a movie production
studio may need that space to shoot a scene.
Like I said before it could be
empty office space, it could be
a restaurant that has downtime. All
of these spaces have specific uses
And I guarantee you there is somebody in your
market that’s looking for an opportunity to have
a space just like that. And the best platform
for you to put it on is going to be Peerspace.
Like I said because it just doesn’t
fit an Airbnb or VRBO type model.
There aren’t really many other platforms
like Peerspace that are as thorough.
For you to have detailed
pictures, detailed descriptions,
and have so much open communication
with potential guests.
So right now, peer space is
going to be best suited for
the larger markets. I’m not saying
it won’t work in smaller markets.
But Peerspace New York, Peerspace Atlanta,
Peerspace Houston, Peerspace Chicago,
Peerspace Los Angeles LA. These places
are going to be great because there is a big
demand for event venues in these locations.
I’m not saying smaller towns won’t work.
You just may not have the frequency of
bookings that you are going to get in a big
metropolitan city like I have here in Houston.
I love Houston there’s a lot going on.
We are just now getting back from COVID,
so a lot of events are beginning to get booked.
And it’s been a great, great decision
for me to switch over from a strictly
Airbnb model to having these Peerspace units.
Another great flexible feature you have
on there is you can choose the minimum
and the maximum booking amount of time.
So, if you don’t want people in there 24hrs,
you want to limit the amount of time they
are in there. Or if you don’t want to have to
shuffle too many one-hour, two-hour bookings.
You can set your bookings at whatever
you’d like. I set mine at 4hrs
just because I like the amount of revenue,
I’m going to get out of the four hours.
When you subtract the 15% service fee that
Peerspace charges for using
the platform and you calculate
the cleaning costs. Which is also something
that you can set at whatever number you want.
Depending on how much your
cleaning service charges you.
That allows you to have the
flexibility and the control
of your revenue, and the time management for
each booking and in between your bookings.
One of my favorite things about Peerspace
is the platform is very user-friendly.
It’s easy for you to go in
there and set up a new space.
They walk you step by step through a
bunch of questions that make it really
easy for you to set up. You can choose what
types of vents you can have in your space.
You can choose what people can
and cannot do in your space.
And it gives you a lot of control
over the use of the space.
They also offer a great platform
on the side for the people that
are going to be booking. So, when
a potential guest goes to the site,
they can type in the city, the type
of event, they select the dates.
And then it gives them plenty of options,
and your goal is to be on the top page.
Just like my listings stay on the top page.
Just make sure you are very responsive to
the guests. Because all of those metrics
are counted into the algorithm
to know where you are placed.
And to know how many people
they are going to put your event
space, your short-term rental,
your flex space in front of.
So, you have the option on the booking
feature to allow an instant booking.
However, if you don’t want to do that.
If you are someone that is meticulous, and
you want to review the guest to see their past
bookings and see what the
other venue owners rated them.
Then you have the option to turn off instant
booking. That also gives you the flexibility
to make sure that you don’t have a pending
booking that may be of higher revenue for you.
If someone does an instant
booking in that time slot,
it will prevent you from ever being
able to get that longer booking.
So, you want to make sure that you’re
comfortable with the way you do it.
They give you all the flexibility
in the world so that’s great.
Another great thing about Peerspace is they have a
direct messaging feature for each potential guest.
As they put in a request for a
booking you can communicate with them,
they can communicate with you back
and forth. Ask specific questions.
Maybe you forgot to put some type of detail in
the online description. The questions I get are
about parking, is there a surround
sound system they can plug into?
They ask about what types of things
are allowed or aren’t allowed. Can
I have a DJ? How loud can I be? Can
I come in before the booking time?
Can I leave after and clean up, can I take an
extra 45 minutes to clean after my bookings over?
These are the types of
questions you get very often.
Some of them will even ask
if they can stop by the venue
before deciding whether they
are going to book or not.
So, having the flexibility to communicate
with them there makes it a lot easier and a
lot more fluid for you to have a
transparent, congruent booking process.
So, if you’re like me you’re very wary of
having a guest that has a bad reputation. And
you want to know how these guests have handled the
previous venues that they have leased or booked.
And so, what’s great about Peerspace
is it’s a two-way review system.
So, you as the owner of the venue get to review
the guest, and the guest also gets to review you.
So, what I like to do is go look at guest ratings
and look at the comments from the other venue
owners that they have booked before. Just to make
sure this person is going to be the right fit.
In the unfortunate incident that there are
some damages from the guests after they leave,
you can go in when it’s time to rate the
guests, there’s an option for you to go down and
notify Peerspace that there are some
damages and they will charge the card
credit card that the guest
has on file for those damages.
I know you know how overwhelming it can
feel listing your property on different
sites that waste your time and don’t make
you any money. I’ve been there before.
That’s why listing on Peerspace is a no-brainer.
It’s absolutely free to sign up and with the link,
I’m giving you below, you will get 50%
off Host fees on your first booking.
After you click the link below
and list your property for free,
your space will be a few clicks away from millions
of visitors per month that Peerspace already has.
Peerspace has already paid out over
$140 Million to people like you and me
with spaces to rent for a few hours.
Here is a screenshot of my last 6 days making
over $2500 plus dollars which I want to point out
the $900 in one day because of multiple
bookings which I could never do with Airbnb.
I talk about this in my full Peerspace review,
click the link below to get access to it now.
