Airbnb is a company that was formed in 2008. When it was founded, the founder’s main agenda was to offer accommodation to guests in their homes and have their guests sleep on air mattresses. The name Airbnb stands for Air Bed and Breakfast.
Airbnb is an app where people can offer their homes and rent them out to others who want accommodation in their locations of choice. When one rents out their home to Airbnb, they get to earn an income when people choose to stay at their home. Airbnb’s rates are sometimes cheaper than hotels hence more people prefer to book their accommodation with Airbnb.
Through the Airbnb website, guests can find homes they would like to rent out. The duration of the stay depends on the guests. Some opt to stay for short durations while others prefer to stay for a longer period.
Do you want to rent out your home to Airbnb and earn an extra income? In this article, you will learn more about how you can start and run an Airbnb business in 2022.
Have a business plan
A business plan will help you as you start your Airbnb. A business plan is a document that will describe your company’s core business activities, objectives, and how it will achieve its goals. Your business plan should contain the following
- A brief description of your business. It should be something short to allow the people going through your business plan to go through it fast
- Your competition. Before stating who your competition is, do your research and determine who your competitors are
- Your marketing strategy. For your case, your marketing strategy will be to advertise your rental homes on the Airbnb website. You can also advertise your homes on other social media platforms like Facebook, Instagram, etc.
- If you are in a partnership, you should have the names of your business partners in your business plan. Your team members should have specified roles and they should be written in the business plan.
- You should also have your financial data. Have your profit and loss sheets and balance sheet available in the business plan. This will help people to know your current financial position.
Your business plan should also contain your mission statement, values, and goals.
Get right with the law
Now that you want to be an Airbnb host, you need to follow up with the law. Do your research. Visit your local government offices or websites and find out more about the requirements needed for you to be an Airbnb host.
Some places have restrictions against the Airbnb business because of the bad reputation some Airbnb’s have had. In some cities, they restrict the number of guests one can host in their Airbnb rental homes. Some states also have a limit on the number of guests they allow hosts to have at a specific time.
For you to start hosting with Airbnb, make sure you get the needed licenses and approvals from your local government. Doing this will help you avoid paying fines that were not necessary. Follow the rules and regulations set.
Insurance will save you a great deal in case of any risks. You can insure your property against fire, accidents, damage, and other risks. If your area of hosting allows, get insurance for your business. This will save you a great deal if any accidents happen.
You can ask insurance companies to provide you with an insurance company that will be favorable to the area you live in. You can get policies that fit your budget. As time goes by and your Airbnb business picks, you can change your insurance policy to a better one.
Get a name for your Airbnb Host business
Having a name for your business is important. This will make people know about your Airbnb Company faster. While choosing a name, make sure it is not only easy to spell out but also easy to pronounce.
Choose a name that best describes your Airbnb property. You should name your property after the physical features they are close to. This will help your potential customers get an idea of what rental property they are booking.
Apply to be an Airbnb host
Your main aim is to have your home be featured on the Airbnb website as a rental site. You cannot do that without joining your company to Airbnb. How do you do that?
- From your browser, go to Airbnb.com, and from your profile, select Host.
- After selecting Host, select Add a new listing
- Answer the questions you will be asked about your property
- Then after answering the questions, select Yes, I work for or run a hospitality business
- Then to save your answer press next and continue to list your property on Airbnb.
Once you have had your property on Airbnb, you can get started. You should also aim at being verified by having
- Your phone number available on the site
- Your email address
- Verified photos of your property
- Good reviews from your guests
Where is your Airbnb rental home located? Is the place easily accessible by road or people will have to travel for long distances to access the rental house? Will you need to provide guests with shuttle services or other forms of transportation?.
Your potential guests will want to visit a place that is easily accessible. Your Airbnb rental house should be in a place with enough parking.
Neighbors and the neighborhood do matter. The place where your Airbnb house is located should be safe. The neighborhood should not be a noisy one. This will encourage more people to choose to have their accommodation in your rental house.
Have a presentable place
Your Airbnb rental house needs to attract the eyes of potential clients. Check your house before you enroll it to hosting in Airbnb. Does your house need some repairs? Do you need to add some things to your house? Do this as soon as you can.
Clean your compound. As you will take pictures of your property, it should look presentable. Ensure the fences are well manicured. The trees in your compound should be trimmed and if you have, any grass cut them.
You can also do some exterior cleaning. If need be, repaint your house. Fix the driveway. Clean the path leading to your Airbnb house. Do a general cleaning of the exterior of the house. People do associate clean surroundings with security. You can plant flowers and trees outside your home. If you can, you can also have a gazebo where your guests can relax outside.
Your Airbnb home should have good interiors. Decorate our house well. You can have a cleaner clean the house every other day. A clean place will attract more visitors.
If your rental house has a swimming pool, make sure it is well maintained and clean. Have floaters around for safety purposes. It is also good to inform your guests if there is no lifeguard around so that they can be extra careful.
Is the floor of your house in good condition? If not, arrange to repair it. You can repair the whole floor or just the areas that have spoilt. You can do the repairing yourself or hire someone to do it for you if it is complex.
Check if all the pipes and electrical appliances are working before renting out your place. Guests are usually disappointed when they rent a place and find the electronic and plumbing appliances do not work. Check them regularly and have them fixed in case they are not working well.
No guest will want to rent a place and find pests like cockroaches, rats, and other bugs in their place of stay. Get rid of such pests. You can have a pest control team help you with the elimination of such pests. Also, do not leave still water on your property. It will encourage the breeding of mosquitos that can be a nuisance to your guests.
Your property should be free from bad smells. Make sure you dispose of any litter on your property immediately to avoid this.
As a host, have a reliable team that will help you in keeping your house clean. You can have house cleaners, a dedicated and trustworthy plumber, a certified electrician, and a gardener. These people will help you have a beautiful and functional house.
Check on privacy, safety, and security
People do value their privacy. Nobody will want to stay at a place where his or her privacy will be compromised. Make sure that no one else has access to the property apart from the ones doing the maintenance. You should also have curtains on your windows to keep others from peeping. You can also have tinted windows and glass doors. The guests staying inside your rental Airbnb house will have their privacy.
Your house should be user-friendly. Make sure to have a fire extinguisher in case of any fires. You can also install a smoke detector in your home. Have a working fire alarm that your guests can have in case of a fire.
Security is important to everyone. If you are renting out a home, check if the place is safe. Do not put up a rental Airbnb house in a location with high insecurity. If you can, have an alarm that your guests can use in case of any break-ins. You can also install CCTV cameras to monitor the movement of people in and out of your property.
Have your rates
The rates you charge will determine if people will opt to rent out your place or not. Do your research before you decide on a specific rate. Check what other rental homeowners are charging, and then depending on your house type, come up with a rate.
Have a description for your Airbnb rental property
For guests to know more about your property, they will want to read more about it. Have a description of your business. Your description should be
- Use language that will appeal to your target audience. English is the most preferred language because many people can speak it.
- Have a list of the amenities you have on your property. It will help your potential guests to decide if it is the right place for them.
- Mention any unique thing your property will offer your guests that others do not have.
Check-in and Check-out time
Guests will most likely stay in places with flexible check-in and check-out time. Make this provision available to your guests. It will be helpful if they are traveling to and from your house.
Make the check-in and check-out process known to them. This way, the guests will communicate their arrival and departure times with you.
Advertise your Airbnb rental house
Once you have set everything in place, try to make your property known. You can do this by taking good pictures of your rental house from different angles and locations. Take photos of both the exterior and interior of the property.
Advertise your Airbnb rental property on social media platforms like Facebook, Instagram, Twitter, and WhatsApp among other sites. You can also use word of mouth to make your property known. Talk to your family and friends about it and ask them to do some referrals.
Setting up an Airbnb business is not as hard as it may seem. The first step is to get the licenses and permits you need from your local government. Once you have these, apply to have your property featured on the Airbnb website. Make the necessary upgrades you need to make in your house. When your guests visit, offer extra amenities such as Wi-Fi, snacks, and towels. Make sure to build a good reputation with your guests by communicating effectively, making yourself available at all times, and helping them make their stay a good one. Doing this will make your guests give a good review of your Airbnb rental home and you will get more guests.