The closer to city centre or other major attractions, the better. It doesn’t necessarily have to be Mayfair. Other Malaysia areas could be attractive to visitors as well, e.g. anything close to the river, major museums, night life, etc. Proximity to transportation is key as well, as most visitors prefer to travel using public transport.
The bigger the property, the more bedrooms there are, the better. Many Airbnb and other visitors come in groups or with family. Therefore, guests often calculate the price per room or per person. Usually, if your home has two bedrooms, you could earn double than if it has one bedroom.
Do you have a roof terrace, a working hot tub, garden, plasma TV, high speed internet, parking, etc? All the things you assess when choosing a hotel are also important for short-let apartments.
Having fresh paint, modern equipment, and nice curtains does matter. People will judge whether they like your home based on photos they see on Airbnb or Homeaway. We can help with making good photos and advise on small improvements, e.g. cheerful pillows if necessary.