For many, opening up their personal space to others through Airbnb is a quick and easy way to earn some extra cash.
However, keep in mind that while Airbnb hosting can be highly lucrative, it often requires a more significant investment of your time than is immediately apparent. Hosting involves maintaining the guest space, cleaning, organizing schedules, and tending to guest concerns.
Guests may not be expecting a 5-star hotel experience when they stay with you, but everyone will want a clean, quiet, private space to call their own during their stay. Be sure to recognize and examine the barriers to being a good host.
Will you need to share space with your guests? Can you make alternate arrangements in your routine to accommodate others staying in your home?
How to Get Started
If you have a separate space and are prepared to take on the responsibilities of hosting, Airbnb makes it easy to become a host.
The process begins when you submit photos of the guest space and begin to develop your Airbnb profile. This is an excellent time to take note of any barriers to guests that may be present. For example, if your property is only accessible through stairs, you should include that information in your Airbnb profile.
Once your space is clearly represented on your Airbnb profile, you must pick the nightly rate you will charge your guests, as well as additional charges such as cleaning fees.
Choosing your rate is a crucial step in the hosting process. It is essential to do appropriate market research. Setting a price too high will discourage guests from booking, and setting the price too low will make it difficult to turn a profit.
Tools such as AirDNA are available to help you complete market research in your area. AirDNA and similar services feed available data about your location into an algorithm that determines the most appropriate price for your listing. Services such as AirDNA usually require a small payment to use. Still, depending on your area, it can be a worthwhile investment.
Before renting to your first guests, make sure you have removed valuables and secured your private area. Ensure you have provided essentials that your guests will expect, such as toilet paper, bed linens, and towels.
Training and Certifications
There are no formal qualifications required to be an Airbnb host! As long as you have the space and a love of hospitality, you meet the criteria. There are specific requirements issued by Airbnb for properties to ensure that guests are safe and secure, which hosts are informed of when setting up their profile.
Airbnb hosting can be highly lucrative, depending on the area. The average Airbnb host makes $924 per month.
Income varies based on the price you determine for your listing, which is generally guided by the popularity of the area in which your guest space is located. Over time, you can “tune in” your rate as you become aware of high and low peaks of travel to your area.