How to Become an Airbnb Host and Why You Should
I’m a woman who loves to travel and have a great time with friends where I’m laughing, eating, smiling, dancing and do the most with my time. However, I love to travel on a budget so Air Bed and Breakfast (Airbnb) is the way to go.
I decided to use Airbnb for the first time, and I must say I had the best host. I know this is not always the case because some hosts can be awful. Nevertheless, I got lucky with Valarie (aka) Val who lived in a small town called Burntisland, Scotland.
From my experience, I believe Airbnb is a great avenue for anyone who has extra space to share in his or her home or apartment to make extra money and to do what they want with it. This is a great opportunity for retirees and individuals who are in a home bind of potential foreclosure to gain additional income.
Here is why you should consider being a host.
What is Airbnb Hosting?
Airbnb is an online hospitality service where you can sign up to have your living space shared with travelers from anywhere in the world. For using Airbnb platform, you will pay a small percentage giving to list your property or space. As a host, Airbnb charges you a 3-5% for hosting on their site.
The spaces you provide can be anything from a single room, a cottage, guesthouse, apartments, or rental property. With each booking, you can add additional services such as tours within your area, breakfast, homemade dinners, a cooking demonstration for an extra fee. Whatever skills you’re great at; you can add it as a service.
Another opportunity to make extra cash as a host is to team up with other businesses within your area and offer various entertainment services, which will generate potential guest to select your space. Utilizing Airbnb to generate residual income is an easy process to get started and if you have space and time, then do some research and get started.
Who Gets to Stay?
After the guest books your space, you determine whether you want the individual to stay in your home and not. The decision is going to be based on your instinct and trust. With Airbnb, there is a secure process to ensure the validity of the guest. The guest must provide proper documentation before you as the host accept the booking. During my experience, I had to provide my government identification such a driver’s license or passport and take a live photo of my face using the Airbnb App. So, after verification, you still have the authority to either decline or accept the traveler.
Cost Potential Guest Pays
You set your price of how much you want to charge each guest, but this all depends on your space, the setup, amenities, and location. The more services you provide, such as a spacious room, private entrance, private bathroom, all gives you the opportunity to charge a higher rate for your space.
When I searched for rooms on Airbnb website, the prices ranged from $30 dollars for a bed or $300 dollars per night for a beautiful cottage with a kitchen, Jacuzzi, and Mountain Views. The more you have to offer the guest will determine how you can price your space. Also, you have to look at other spaces being offer within your area not to under or overprice your service.
Host Potential Revenue
The services provided determines the amount of income a host receives. Factors to consider are national holidays, spring break, summer seasons, and your locations make a huge difference in how you price your service. As the host, you decide the availability dates, check-in and checkout time, the number of quest, smoking or non-smoking etc. You set the expectation for your guest, so you want to make it a memorable one when they arrive.
Let’s say, starting out you provided a room with just a bed and separate bathroom and another room with a bed with an en-suite, beautiful amenities and complimentary breakfast for each night of stay for 30 days.
The chart displays two options on how you can generate a decent income from renting a space in your home. Yes, you will have additional cost for food and the extra service that you provide, but when you price well and offer quality amenities, and services then you will continue to make a profit.
As a military member, I know other military individuals who have transitioning into retirement and are becoming Airbnb hosts. I recommend you do additional research, get started if you are up to it, and don’t mind having travelers from around the world in your space. Being a host is a great opportunity to earn extra cash, meet a diverse group of people and make lots of memories. This is something I am considering for when I retire.
Question: Would you consider being an Airbnb host?
“Motivation Accountability Change”
Thanks to Unsplash for the beautiful photos!