How to start renting out your place on Airbnb
If you own a property or living on rent at someone else’s place and have some extra space/room for another tenant, then this probably might be your way towards earning some extra bucks without making any big efforts. There are loads of options available nowadays for making a side income but you need to be careful about choosing the reliable one as it can cost you more than the investment. Airbnb is that platform that supports the idea of renting out a property on a short-term basis to people on vacations or short visits to another town/city.
The idea is to basically provide a scene of action to people who wish to hosts or guests. The host on an Airbnb account is the person who puts his offer forward on the website and waits for a guest to accept it. Whereas, an Airbnb guest is the person or a group that move to another city or town and is looking for a reliable space for themselves to stay for a short period of time. This has proven to be a good idea for expanding the sources of income and making the most of the available opportunities for both the parties.
Where to start from?
Planning to become an Airbnb host is not difficult but the whole procedure is quite clear and evident. How to make an account, what to do for getting profitable opportunities etc. is the real game which needs a bit of knowledge beforehand. There is a proper list of how to start on the Airbnb platform for becoming host that can help you in making a side income. That said, for some people Airbnb hosting is more than just a passive income because they are the ones who are running a proper property rental business through Airbnb and making a handsome amount of profit for frequently hosting Airbnb guests.
Below is mentioned a to-do-list before actually getting started with the business. This will ensure a secure renting procedure as a host and also create awareness about the things that you were unfamiliar with earlier.
Inspect your property:
Before anything, inspect your property completely to have a precise idea of what you’re about to do and things you will need to put on the Airbnb website.
Take permission from the Landlord:
If you do not own the property then it is necessary to take permission from the landlord because not everybody approves the idea of second hand renting.
Consider the neighbors as well:
Neighbors are the first people to get affected by the noise and disturbance made. Therefore, it is suggested to inform them about your plan to avoid any unnecessary complaints about your property.
Create an Airbnb account:
After you’re done with site inspection and permissions, it’s time to create an Airbnb account which does not hold any specific demands and can be easily made without any difficulty.
Select your home type:
Home type can be divided into 3 categories:
- The entire house or apartment for rent.
- A room for rent.
- A shared room for rent.
You can select from these options according to your renting criteria.
Enter your available dates:
Give your available dates to the websites that are eligible for you to rent your property. This way you can avoid unnecessary guest’s requests on the non-available dates.
Put up renting charges:
Pricing for your property might be a bit complicated if you wish to make it perfect on the first attempt. However, this is kind of impossible to do as you learn with experience.
Add some photos:
Adding some captivating photos of your property as well as yourself not only gives an impressive layout but also attracts the guests to visiting your account for good reasons.
Update an attractive profile:
Forming a profile with your summary and idea of renting your place to the unknown guests is helpful for the strangers who will trust you for their short visit to make it worth it.
Put your complete address:
Write your complete address with all the necessary information of the neighborhood and popular places around it to help the guest in having a better understanding of the location.
Do a proper listing of the facilities and amenities:
Facilities and amenities in a rented property include:
- Kitchen tools
This list is just to deliver a random idea to the readers as the list of the amenities depends on the personal preferences and availability of the facilities. Some extra amenities might also include soap, shampoo, towels etc.
How does it work?
After you’re done with the account details, you have to be patient because opportunities don’t come handy. When a guest visits your profile and approves it for being eligible according to his/her needs then they will contact you either directly on your personal number or contact through the site. After grabbing some necessary information from the parties, the guest will pay for the rent of your property to Airbnb and the website will hold that amount for 24 hours after going through the proper procedure of taking guest’s information as well.
After this, you will receive your renting amount from the Airbnb website after cutting a 3% as the commission charges. This is fair enough for the opportunity that Airbnb is providing to you and the guests. Also, there is an insurance policy available on the site to stay financially secure in case of property or amenities damage.
Things to consider before hosting an Airbnb account
- Do not expect a lot in the beginning as it takes time to operate a successful side business.
- Get the insurance beforehand.
- Make it a point to consider the neighbor’s consent before proceeding.
- Know that you’re not the only one in the business.
- Maintain trustworthy hygiene standards for your property.
- Create an impressive profile with an extraordinary listing.
Airbnb is breaking the conventional records of providing a reliable platform to people who wish and intend to rent out their property to strangers who can be trusted for their valuables. However, the only advice left to give is to follow the proper procedure and be honest with your profession and clients to make it all worth it.