The short-term rental market is at an all time high, thanks to Airbnb. Airbnb has changed the way we traveled, the way we saw the world, and the way we met people. The company gave us the opportunity and the thrill to become hosts to the world itself, as many people have opened up their rooms and offered up their beds to complete strangers for simply a fraction of the price at a nearby standard hotel. It’s certainly not an easy task to undertake, but if you’re ready to become an Airbnb host, you’ll be in for an adventure that you can’t possibly get any other way. The best part about it is you’ll be earning a steady stream of income along the way.
The first things you’ll have to take care of are the logistics of Airbnb itself. You’ll need a space you can sublease legally, an executable plan of action, proper insurance coverage, and of course, an Airbnb account and listing. Once you’ve taken care of all of that, you can proceed to one of the best parts of being a host—setting up your Airbnb for your guests. There is a comprehensive to-do list you’ll need to check off before you can open up your doors to guests. It covers everything you’ll need to have in order to run a successful Airbnb business. It includes essential accessories for each room, necessary appliances and furniture, security and safety options, and a whole lot more. You can personalize your Airbnb as much as you’d like, but there are some fundamental components that are almost always expected in any rental space.
A Few Do’s and Don’ts
To get you thinking in the right direction, there are a few do’s and don’ts you should familiarize yourself with as soon as possible. These will not only save you money in the long run; they’ll also benefit your guests in some way.
- Never buy cheap. People who travel do so for various reasons, but those who travel are almost always guaranteed to be looking for a special experience anytime they’re away from home. When you’re giving your guests cheap products, you’re also giving them a cheap experience. Do better than cheap; otherwise, buy twice. Your returns will double when you purchase good quality.
- Find a reliable supplier for everything. In the rental business, something is always bound to get into the lost and/or found bin. If not, something will go missing entirely. Most renters will not claim responsibility for any lost items, but these will need to be replaced by you in the long run. Find local businesses or online stores that can easily supply you and your guests with specialty items that might’ve gone missing or broken. It’s extra effort, but it’ll give you a step above your competition.
- Use your resources wisely. Don’t spend hours physically shopping in wholesale warehouses for all your Airbnb needs. Take advantage of delivery services such as Amazon to get you all the things you need and delivered directly to your Airbnb in no time. You can buy almost everything at Amazon.com, so utilize it. It can even save you more than a penny or two. The guest may tell you something is missing and within hours you can have it at there door. Helping you get those ever important 5-Stars.
If you’re not quite fully vested in running an Airbnb business, see if you can initially do it small. Grow your business as you get more experience and more ideas. If you’re still unsure of how to put it all together, take a night away from your home to rent out an established and a highly rated Airbnb apartment. Take extensive notes on what you would keep and what you would change. Spend a different night at a hotel to compare how things are done differently in comparison. Take notes again before going back to your own Airbnb space. We assure you that you’ll have a completely fresh take and a whole host of ideas on what you’ll be doing to make your Airbnb a one-of-a-kind experience for your guests.