Thinking about renting out your home or apartment on Airbnb. Maybe your the time of person who travels a lot or just wants to earn some extra cash. If you live in a highly desirable city or have a great pad, then you to may want to join the long line of people who are Airbnb hosts.
As easy as it sounds, there are some specifics you will want to be aware of. Are you worried about people damaging your belongings or even stealing your stuff? Can you honestly manage the entire rental process on your own? What happens when people start complaining? Well there are certain ways to manage all of these types of questions and other issues that may arise.
This rule is probably one of the most important to follow. Don’t think about collecting money outside of the platform. It’s there to protect both you and the guest. Did you know that Airbnb will ensure your place up to a maximum amount if something does occur. Plus you do want to know who is renting out you pad. If you ever have question or concerns it’s good to know that you can contact their support to help sort things out. It really is worth the peace of mind.
You don’t want to hide anything from your profile. If you live in an older apartment with a small bedroom and a bathroom that’s nothing special, make sure you notate that on your profile. If the air conditioner takes awhile to cool the space or the hot water doesn’t seem to be hot, make your future guests aware. You might be surprised that you still will get plenty of bookings. Many people want to say on a budget. Just because your space isn’t the nicest, doesn’t mean you won’t generate lots of bookings. In other words, make your place the best apartment experience you can for the guests.
If you are renting out an apartment yourself, are you able to then rent it out again on Airbnb? Listen, most hosts rent their places out with no problem. But you don’t want to be that one person who gets caught. So research the law or contact an attorney in your city. You might even consider buying a place just to rent it out on AirBnb.
When the money starts to trickle in, you are going to want more. So it’s up to you to get great reviews. This means stepping up and making sure your guests have a great experience. Maybe you want to provide fresh coffee in the morning for your guests or even little snacks. Wouldn’t you yourself appreciate the little things like this?
Also be aware of what the market is saying. What we mean by this is, stay up to date with the pricing. Many areas experience times when prices go up and down. So don’t just price your home at a flat fee year round. Do your research.