With the new year fast approaching, are you looking for the best way to earn some extra money in the coming year? How aboutbecoming an Airbnb host? All you need is a spare room (or home), a bit of free time, and the desire to meet guests from all over the world.
Before you start, see what you can earn in your city.
Here are the steps to creating your first listing on Airbnb:
Step 1: Prepare Your Space
To provide your guests with an excellent experience, you have to set up your space appropriately. Whether you are listing a single room or an entire property, it has to be furnished adequately with the comfort of future guests in mind. While you don’t have to spend a fortune on lavish, expensive furniture, the amount and quality of it should assure comfortable living in your home.
It is a good idea to include a few decorative items which represent the customs and arts of your region. Many Airbnb guests choose this type of accommodation in order to experience the local culture.
Step 2: Create an Account on Airbnb
Once you have your space ready to be listed, the next step is to create an Airbnb account. Keep in mind that you don’t need to do that if you’ve already used Airbnb as a guest. Creating an Airbnb account is a simple process which requires only some basic info such as your email address, name, date of birth, and phone number.
The platform will also ask you to upload a photo which is one of the precautions that Airbnb takes in order to verify and protect both hosts and guests.
Step 3: List Your Space
This is the most exciting part. You finally get to share your home with the community of Airbnb guests from all around the globe. You need to write a description of your space which should be comprehensive, truthful, and accurate. Don’t try to exaggerate the virtues of your home because future guests will punish you with negative reviews.
You also get to upload photos of your home. This is your chance to show the real merits of your property. Although it sounds like a cliche, the phrase “A picture is worth a thousand words” is 100% true for Airbnb listings.
Step 4: Set Up Availability
As an Airbnb host, you decide when your property is available for guests and when you want to keep it for yourself, your friends, and family. This feature allows you to choose if you are going to be welcoming guests year-round, or you just want to make some extra income for the holidays. It is also particularly useful for listing your vacation home.
Step 5: Price Your Place
You get to decide how much to charge for your listing. As a new host, set up a fee which is comparable or a bit below the prevailing rate in the local market. Pricing right plays an important role in attracting your first guests. Having your first couple of guests is crucial for getting reviews which will encourage future guests to book your place.
Furthermore, adapt your pricing according to the season. If you list a beach house, you can increase the fee in the summer to make some extra income and decrease it in the winter to sustain a good Airbnb occupancy rate.
You can also ask for more over the weekend, for Christmas and New Year, 4th of July, and any major events happening in your area.
To keep your pricing strategy up to date at all times, you can turn on the Smart Pricing option, which allows you to set your prices to go up or down automatically based on demand for listings similar to yours. Even with Smart Pricing, you are in control of your price as you set a minimum and maximum price for your listing.
Once you’ve completed these 5 convenient steps, your listing is live. For free. Airbnb does not charge anything for listing your space. You will pay a 3% flat fee on your reservations. This is one of the lowest rates in the home sharing industry.
Now you can start expecting your first guests to book.
What Support Is Available?
As a new Airbnb host, you might be feeling a bit hesitant and maybe even overwhelmed. However, there is nothing to worry about. The Airbnb blog and Community Center offer all the tips and tricks that you need in order to get started. Moreover, you can access 24/7 global customer support.
Guests’ damaging your property is not a problem either. As a host, you get $1 million protection for property damage as well as $1 million liability insurance for free.