How to Make Money with Airbnb

How to make money with Airbnb

The benefits from becoming an Airbnb host are many. While the extra money is welcome, you will get to meet some wonderful people and get a great satisfaction from providing a uniquely personal experience for weary travelers. The secret is to do it well and still make a healthy profit.

While the hype is all roses and dollar bills, is it really all it is made out to be?

Let’s take a look.

  •         First check out your local competition to see what prices and amenities they offer
  •         Consider how your room/house will compare and what price you may realistically charge
  •         Bring the room/property up to a high standard, keeping in mind the better the quality, the higher the rent

The next step is to join up with the Airbnb site and get to know how it all works. As a member, you control the price, the availability, and you set the house rules such as no loud noise after 9.30 pm in respect to the neighbours.

Airbnb offers tools, tips and 24/7 support. If you have a problem, you can always contact them, and they will guide you on how best to handle it.

How do I know the guests are genuine?

Guests are required to submit a profile photo and their email and phone details are verified. You can also request a Government ID.

The reviews that are posted after a stay keeps both the host and the guests accountable and provide honest feedback for new guest who are considering your property.

Good communication with the guests is essential. It pays to respond to guest enquiries as they come in. It is up to you whether you accept their booking or decline it.

Additional things you will require

 

Like any new business, it takes time to get set up properly. Some of the key things you will need include

  •         Good quality photos of the property for marketing
  •         A good cleaner unless you aim to do the cleaning yourself
  •         Check council and tax requirements for your area. Remember any income you make must be declared to the taxation office
  •         Small signs within the property on how everything works

Apart from presenting beautifully clean accommodation, prior to the guest arrival you will need to let them know how they can get to your home, the code for the lockbox (if you have one), and of course where they can park their vehicle.

“If you want to stand out from the crowd, give people a reason not to forget you” – Richard Branson

The goal of the AirBnb is to get rave reviews which will attract more guests.

Like all things, it is the little touches that make the most impression.

A few fresh flowers, a sparkling kitchen, clean fresh linen, and coffee, tea and biscuits on their arrival all say welcome, we care about you.

Can you make money through Air Bnb? Yes you can; if you approach it like a business, keep your costs down, and keep your standards high.

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Written by Mia Paxwell