What to consider when putting your home on Airbnb
Airbnb is an online marketplace that lets you list your home as a vacation rental. The platform is available to access through the web or an app. Currently, more than 2.5 million people have listed their property on the site and making money from renting out their homes. Making this a new way of consistent revenue stream. This makes it one of the best ways to get ROI (return on investment) out of your home. However, if you are thinking about Airbnb-ing your home for the first time, it’s not just as simple as renting out your home to make some extra cash. Let us look at a few of the things to consider before you Air BnB your home.
What to consider to Airbnb you are home
Join an Air BnB Group
Facebook has many communities you can join just search for Air BnB or short-term rentals.
One I like is Airbnb Host community
And make sure you join a local one in your community.
Podcasts to listen to
What is your ultimate target?
Knowing what you want from Airbnb is very important before actually putting the house on the Bnb site.
- Are you in search of just some part-time income,
- occasional or
- consistent secondary income,
- or do you want to take it as a whole proper business and want to generate relatively massive revenue?
This back-end step is necessary for the amount of input you need to invest in remodeling your home. This step also determines the Airbnb site of what type of host you want to be.
Remember that it may and can consume a lot more time (especially in the beginning)
Ask yourself, are you flexible enough
Flexibility is one of the major things that Airbnb requires, especially in terms of time. Apart from all the booking procedures, be prepared for emergency calls.
Life interruptions are a few downsides that Airbnb has. You have to be ready for responding to situations that arise, checking in and out guests. You also have to take responsibility for looking for cleaning and restocking.
So before putting your home up on the site, ask yourself, are you patient enough to bear all of these life interruptions.
Time factors you need to consider are
- Time writing to get people interested in your space
- Answering customers questions
- Sending check-in and check out instructions
- The situations that arise while at your space
- Asking for reviews
- Coordinating schedules for maintenance and cleaning
You basically could be the sales, marketing, and customer service of your space.
Can you host strangers?
Remember that the guest who will vacation at your listed place will be complete and absolute strangers to you.
Do you live or just vacation your listed place? Will you be hosting a room, the whole house and property or what and how much are you considering sharing with a stranger?
So in case, If the idea of hosting strangers makes you feel uneasy, then getting your house on Airbnb might not be a great idea for you.
But if you are comfortable in residing with strangers for a few days or enjoy meeting new people and open to the learning experiences of dealing with strangers then consider yourself perfect for Airbnb.
Will your neighbors be happy with Airbnb.
No matter what you will have neighbors that might make or break your Airbnb quest. you tend to have neighbors in any case. So before deciding to host with Airbnb, determine the mentality of your neighbors.
If your neighborhood is intolerable to changing guests after every few days or weeks then listing your house on Airbnb can raise issues for you.
It is better to ask your area members first regarding the idea.
Check your local laws
It’s important you learn about your city’s laws. You can check out your city’s laws and regulations in your City’s regulations section of the Air Bnb Responsible Hosting Page. with your city’s zoning department. They will be able to tell you if you need to register for a permit or other code rules.
In some tax jurisdictions, Airbnb will take care of calculating, collecting, and remitting local occupancy tax on your behalf. Occupancy tax is calculated differently in every jurisdiction, and we’re moving as quickly as possible to extend this benefit to more hosts around the globe.
Don’t forget to look up your local taxes. You may be required to pay a VAT (Vale Added Tax) or GST (Goods and Services Tax)
Be sure to call your insurance company and ask the facts for short-term rentals. Some insurances have denied claims when this has not been disclosed.
Guests will care about cleanliness. Be prepared to clean or hire a cleaner after each guest. If you hire someone make sure you leave a detailed list that will also include looking for anything that is broken as well as restocking.
Check out our Air Bnb Printables that include a cleaning checklist.
Some of the overlooked costs involved may be
- Hiring a cleaner
- Higher Utilities
- Insurance coverage
- These are just a few more that can incure
There is no doubt that Airbnb is getting popular nowadays for all the deserving and right reasons. This business may look fascinating to look at but requires an immense amount of hard work. Being a successful Airbnb host requires a lot of time, flexibility, patience, and, most important managerial skills.
However, with determination and practice, you can achieve anything and everything you want. So if you are the one that possesses all of these skills or are passionate about developing them, you are all ready to start as a host on Airbnb.
What are some of the things that concern you?
You can also check out Annette ad Sarahs free Air Bnb workshop
Or we have created an Air Bnb host bundle that includes an
- Editable house manual
- Guest signage
- Cleaning checklist
At checkout, our readers can enter the coupon code ” Haveagreatstay! ” for 50% off these editable templates.