There are several big considerations to become an Airbnb host. The more potential income you desire, the more effort and time you will have to invest to make your Airbnb venture a successful one. Depending on your goals, your listings and Airbnb economics may change.
It would be nice to list your unit and then have money roll in. It takes time to talk with potential guests and answer questions before they decide to book with you, but with time and effort you can receive great reviews and continue to bring in guests! Make sure you are prepared for the time commitment.
Make sure you have the proper insurance coverage. Airbnb’s one million guarantee helps a ton, but if there are any special items or risk factors not covered by their policy, you may need to get an additional insurance policy.
Be respectful of your neighbors- if your home is part of a community with a shared space, think of your neighbors. Even if your house is standalone, be sure to manage relations with neighbors. It only takes one angry neighbor to kill your Airbnb hosting dreams.
Make sure to get your landlord’s approval. If your landlord doesn’t approve, this might mean that you can’t host in your current home. However, if you approach your landlord in the right way, perhaps you can increase your chances. If that still doesn’t work, it may be in your best interest to find a different apartment that would allow you to host Airbnb guests.
It’s also important to find the right customers for your home. Everyone has different preferences, so it’s important to write your Airbnb ad and list your place in such a way that you attract the customers that are most likely to book with you. There’s a difference between vacation travelers and business travelers, as well as solo travelers and family travelers.
Click here for part 2 of this series!
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Image By Kougbadi – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=35124179