How to Rent Your House as an Airbnb Step by Step Guide

In today’s progressively changing world it is good to push yourself to redefine investment boundaries. Airbnb which is short hand for Air Bed and Breakfast is one such investment that is beyond the ordinary.

This is where the investor has unique accommodation facilities and decides to list that space on an online marketplace for hosting people anywhere in the world.

It is a hustle free investment and one that you’d want to consider if you want to get started as an investor. In this regard it is good to be knowledgeable on the steps to take to start renting your house as an Airbnb.

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#1 Legal Consequence

It is good to know whether there are any laws in your area that may restrict listing as on Airbnb. Reviewing your community guidelines and standards will ensure you know what is expected of you when you list your house as an Airbnb.

You may be required to have a license, a business permit or other documentation for short term occupancy.

Prior research is important to ensure you do not incur profit draining fines as a result of violation of your city regulations.

#2 Prepare Your Space

It is important to deliver a great experience to clients. Certain amenities are very essential. How you furnish your space could make you stand out from other hosts.

Deliberate on what is vital to your guests and what need it meets. For example guests’ sleeping experience is crucial. You may need to do top notch sleep-related purchases.

The guest’s experience is critical to obtaining five star review.

Learn –> How to Invest in Real Estate, Make More Money and Retire Early

#3 Research on your area’s listings

Doing considerable local research to see what kind of Airbnb rentals are available in your area is important. This will help you in the following ways.

Price your rental

Knowing the pricing for rentals around your area will enable you set the right pricing. It is good to come up with a pricing strategy that will ensure your space achieves rents it is capable of.

This price is not just a one-time deal. It needs regular review and updating. This will enable you competitively price your rental.

Provisions

Take into consideration what basics you will provide. Most hosts give basics like sheets, towels, toilet paper, and soap. Contemplate on what else you could provide and what your guests will need to add to that list.

It is a good idea to consider whether additional charges such as cleaning fee and other expenses will be included in the general price. Ensure you factor in this costs when calculating your profit.

Access

Consider how your guests will get their key.

Investing in a key lock box or a coded door lock would be effective. This will save your time and spare guests’ frustration.

Learn –> How to Invest in Real Estate, Make More Money and Retire Early

#4 Prepare a Set of House Rules

Be clear about what is expected of your guests. Contemplate on the ground rules to set.

For example what things are restricted (e.g. smoking), quiet hours, check-in and check-out rules.

#5 List your Space on an Airbnb

Once you are ready to host, you can proceed and create your host account using Airbnb’s simple setup.

Here are a few pro-tips on how to go about it.

A. Setting up the account

There will be details required in each step such as; your home and room type, the number of people your space can host and your City.

Be sure to fill in accurate details. Having even small omissions can cost you bookings.

B. Overview and image

Take time to come up with fascinating titles and descriptions to attract guests. Captivating photos and your rental overview will ensure your space stands out.

C. Price

Airbnb suggests prices taking into account the information given but allows you to be in control of your pricing.

Don’t price too high so that you don’t land more vacant days. Don’t price too low such that you leave money on the table.

D. Amenities

Give as much detail as possible so that guests are acquainted with what to expect. Airbnb allows you to include the list of amenities available and a map to reinforce your description.

E. Calendar

Airbnb allows you to decide on the availability of your listing.

There is flexibility in choosing whether you want to be booked all the time or just on given days or specific time periods.

#6 Start Taking reservations

Having taken time to prepare, you are now set for a great career or side job as a property owner. A solid listing and an alluring price listing your house on Airbnb can be very profitable.

Overall, whether you want to rent out a single unit in your home or multiple properties on Airbnb, those are the simple steps you need to take.

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