You’re thinking of renting out one of your properties as an Airbnb, but want to learn more about how it works for hosts and owners. You’ve come to the right place!
Well, how does Airbnb work then? Essentially, all you need to do is list your property on the site and if people are interested, then they’ll rent it from you for a specific amount of time.
Airbnb has 14,000 new hosts joining each month in 2020 and your listing could be one of them. As a homeowner, there could be a few risks involved with listing your home on Airbnb. Keep reading our guide to discover the ins and outs of exactly how Airbnb works for hosts and owners.
How Airbnb Works
The first thing that you need to know is what is Airbnb and how does it work. It is actually quite simple.
Airbnb is a place for travelers to find accommodations in an easy and accessible way. Each night more than 2 million people are staying somewhere that they booked through Airbnb’s website.
You will list your home, a room, your guest house, or even a camper on land that you own on Airbnb’s website for a specific price per each night. Then someone will agree to stay in your home. It is as easy as that!
You also might be wondering if your home is right for Airbnb. As long as you’re paying a mortgage or own your home, then you should be good to go with listing the house on Airbnb for rent.
If it is a townhome, condo, or apartment, then you need to make sure to check the rules as you might not be allowed to host paying guests for short term stays.
When you post a listing on Airbnb you’re agreeing that you are following all your local rules and regulations. This means that it is completely up to you to make sure that your home is suitable to list on Airbnb’s website and isn’t breaking any rules.
What Is the Cost?
When you’re trying to figure out how to use Airbnb another question you might be asking is how much it is going to cost you. Airbnb only charges hosts a three percent fee each time they book a new guest’s stay on their listing.
This is much cheaper than other sites that you could list your home on!
While the cost to list your home on Airbnb isn’t very high, there are also going to be a few other fees that go along with renting out your home.
For example, Airbnb recommends clean linens, towels, and other amenities for your guests. You could invest in these when you first start renting out your home.
You will also need to pay for the cleanup in between each set of new guests. Whether you pay someone to clean the home or you need to pay for cleaning supplies. There are going to be a few costs associated with getting the home ready for incoming guests.
Listing on Airbnb
Next on your list for learning how does Airbnb work for hosts is figuring out how to list your property. You’ll need to create an account on the Airbnb website which is like any other account you would create.
Airbnb will ask personal information about you and your property to help get your account set up.
When you’re listing your home on Airbnb you’re going to want to know all the details. How many rooms and bathrooms will your guests have access to? Will they have fresh bedding, towels, air conditioning, kitchen equipment, or anything else that you can think of?
Basically you will want to list everything in your home that your guests can use and you think will be a selling point for renting with you. The more that you have to offer, then the more that people will be attracted to your property.
You’ll also want to have some photos of the house. Make sure that you take these photos in the middle of the day when there is good lighting. Try to shoot the photos from the corners of the room so that potential renters can see everything.
The photos you take are going to be the real selling point when trying to get people to rent your property. Without good photos, you’re going to have a hard time renting.
Figure Out Your Booking Settings
One of the most important steps to listing your property is your booking settings. These are things such as what hours people can check-in and how long they can stay.
Some owners prefer people to stay a minimum of two nights but a maximum of two weeks. As the owner, it is completely up to you to decide on these settings. You can change them later to adjust to your needs as well!
Finally, you will determine how much your guests will pay per night. Airbnb can help to recommend the best price for you based on your property.
Now you can publish your property and wait for your first guests!
Be a Responsive Host
A host’s job is to be responsive to their guests before, during, and even after their stay.
Many owners will hire a property management company to take over their Airbnb property. Property management companies can talk with the guests, do inspections of your property, and even manage your accounts.
Without a property management company, you will want to make sure to answer your guest’s questions within 24 hours as this can help boost your score on Airbnb.
When your guest’s check-in it is also good to let them know that someone is there for them during their stay. Make sure that they get into the property and that you’re accessible to them in case anything goes wrong with the property while they’re staying.
How Does Airbnb Work for Hosts?
Many people choose to stay in an Airbnb when they travel as it tends to be more cost-efficient than other accommodations. Plus, they get a chance to experience the culture and city that they’re staying in.
If you’re wondering how does Airbnb work for owners and hosts, then there you have it! There are plenty of things that can go into putting your property on Airbnb as an owner but it can be a great source of income.
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