How To Start An Airbnb Host Business

This can be a highly reliable business, whether it’s a second house or your own apartment. Airbnb is a terrific way to meet new people and make new friends if that’s your thing, in addition to being a genuine home-based business concept for renting out your spare bedroom or living room couch.
 
Even renting out a brand-new apartment solely to operate as an Airbnb side hustle is an option. You might even think about investing in real estate for holiday rentals if you have some money set aside for a down payment. But don’t imagine this will be a passive source of revenue; you’ll always need to maintain the home tidy for incoming guests and you’ll be on call whenever you have a guest.  
 
You can expand on this business concept by providing your visitors with specialized experiences and add-ons in addition to standard Airbnb rentals. Consider Lauren Gheysens’ London, England-based side business, Royal Day Out, where she offers tourists a tour of the city like a local only, complete with custom 18th century attire.
 
To start up an Airbnb Host Business, take the following basic steps:

1. See whether you require authorization.
2. Find and set up your Airbnb space.
3. Decide on a price
4. Describe your space.
5. Hire or enlist assistance (a co-host).
6. Host an Airbnb experience.

 
STEP 1. See whether you require authorization
 
Obtain the necessary approval from your landlord, co-op board, or homewp-admin/admin-ajax.phps association, as applicable.

• Read your lease carefully because it may mention subletting.
• Verify whatever guidelines your homewp-admin/admin-ajax.phps organization may have about short-term property rentals.

STEP 2. Find and set up your Airbnb space
 
You’ll probably need to make an investment in the space, whether it’s a single room that uses your bathroom, a private wing with its own entrance, or your entire house while you’re away for the weekend. Costs to take into account include:

• supplying the room with fresh towels, linens, and toilet paper. (You’ll need to go above and above those fundamentals in order to receive the best scores.)
• greater utility expenses to pay.
• between reservations, cleaning services are provided.
• paying the Airbnb host fee and taxes.
• putting in a keyless lock to simplify check-in.
• building a wall to close off a room.
• establishing a distinct, outfitted television space.
• purchasing furniture and amenities like a fridge, microwave, and Keurig that will make the place more comfortable for frequent visitors.

 
STEP 3. Decide on a price
 
Consider the market, audience, and affordability.

• The stats provided by Airbnb let you know how your nightly rates stack up against those of other Airbnbs in the neighborhood and when you might want to consider adjusting them in response to peaks in demand or particular days of the week. You can limit the minimum number of nights guests can spend at your property, which might help cover the expense of renting out the space (cleaning and upkeep). You might also think about adding a fee for additional visitors or for any other services you offer, including cleaning, equipment rental, pet-friendliness, or tours.
• The typical Airbnb host charge is 3% of the total number of reservations. If you’re an Airbnb Plus host, located in Italy, or have a very rigorous cancellation policy, the cost will be greater. The listing price that your visitors see exceeds what you make.
• Other elements, such as weekly or monthly discounts, weekend or seasonal pricing, payment for co-hosts you hire, or VAT (value-added tax) in some non-U.S. areas, could influence the amount you are paid.
• When a guest checks in, Airbnb charges them in advance and delivers you the money using the method of your choice (PayPal, for example, or direct deposit) 24 hours later. For your Airbnb, cash payments are not permitted. Debit cards, Apple Pay, Google Pay, PayPal, and the credit cards Visa, Mastercard, American Express, and Discover are all accepted.

 
STEP 4. Describe your space
 
Write a truthful listing; don’t embellish or omit details regarding potential issues.

• Draw attention to your space’s unique features to make it stand out from competing listings.
• Notify visitors of any accessibility features that make the area simple to explore.
• To help your guests appreciate the size and qualities of the venue, include excellent images.

 
STEP 5. Hire or enlist assistance (a co-host)
 
A minimum of one additional person could assist you with:

• communications, such as emails.
• at the location, requests or repairs.
• immediate matters.
• hints for visitors about the neighborhood.
• procedure for checking in.

Make sure your co-hosts are aware of Airbnb’s co-host Terms of Service before adding them to your listing (you may add up to three). The amount that they will receive for each reservation will be decided by you and your co-host. In the absence of a reliable co-host, third-party organizations can assist hosts with questions, space cleaning, and other tasks.
 
STEP 6. Host an Airbnb experience
 
You can host an Airbnb experience in its place if you are unable to rent out a property.

• You determine your own schedule, frequency of hosting, maximum group size, and fee.
• The platform’s tour-guiding service, Airbnb Experiences, connects visitors with expert hosts for distinctive, hyper-local activities. Consider taking yoga near the Eiffel Tower, taking surfing lessons at Venice Beach, taking a Harry Potter walking tour in London, or taking a pasta-making class in Rome. There aren’t always Airbnb experiences accessible, though.
• You must fill out an application with Airbnb, who will review your qualifications. Within a week, Airbnb normally responds. Depending on your local legislation and whether your gig falls inside the scope of business operations in your region, you might need to register as a business or obtain a business license. If your intended excursion involves drink, food, or transportation, be aware of any legal restrictions.