Like many other property owners or renters across the country, you might be wondering how to start an Airbnb. If you have the space or don’t mind having guests, it can be a good way to earn some extra cash.
Airbnb has become the preeminent home-share tool around the world, with a presence in 65,000 cities and millions of listings. It’s especially popular among frequent travelers who don’t want to sublet or those who are passionate about hosting others in their home. All in all, it can be a fun way to meet others from around the globe, add another income stream and boost savings.
Whether you’re renting out your whole property or a room in your home, you’ll want to review these important tips for how to start an Airbnb — well before opening your doors to guests.
Step 1: Get Permission & Check Local Laws
Of course, the first step to opening an Airbnb is getting permission from your landlord or homeowner’s association. If you’re renting, there may be a provision in your lease about subletting that you’ll want to carefully review ahead of reaching out.
Moreover, ensure you’re aware of any legal restrictions on renting your home on a short-term basis. Some cities have enacted laws making it harder to become an Airbnb host. It’s better to be safe than sorry — violating these laws can result in hefty fines.
Step 2: Find Out How Much You Could Earn as an Airbnb Host
It’s free to list your space on Airbnb, and hosts make an average of $924 per month. These numbers vary — the location of your property, how big it is, how many guests you can host and how much you decide to charge all influence your earning potential.
First ask yourself how much money and time you’re willing to invest to make your listing stand out in the crowd. Is there something about your space that makes it particularly special or desirable? Is it close to major roads, cultural attractions or public transit? Airbnb is a popular platform, and you’ll likely be competing against veteran hosts. Your responsibilities and expenses will be very different if you’re renting a room versus renting a whole house — but you may consider upgrades or furnishing to make it comfortable for visitors, which brings us to our next step…
Step 3: Consider Making These Airbnb Upgrades to Impress Guests
Airbnb renters will expect the bare minimum, such as stocked toilet paper, fresh towels and clean sheets on the bed, but many hosts go above and beyond to provide a truly memorable experience. You might decide to make these upgrades to attract repeat guests and net positive reviews:
- Keyless lock for easy check in and check out
- Complimentary toiletries, such as shampoo, soap and toothpaste
- Kitchen appliances, such as a Keurig machine, microwave or mini fridge
- Television or other entertainment, such as books and board games
- Information about the surrounding neighborhood and places to see
Step 4: Determine Your Airbnb Rental Price and Set Rules
One nice thing about being an Airbnb host is you get to choose what guests pay per night. Airbnb offers some helpful pricing tools on their website to help you determine what’s fairest. You can require additional fees for things like extra guests or cleaning. Furthermore, prices may be customized to your needs, such as raising costs for holidays and weekends, or providing discounts to long-term visitors.
Conveniently, Airbnb takes care of all payments through their platform, charging each guest before arrival and releasing money to you 24 hours ahead of their arrival. Moreover, you can set specific rules, such as check-in and check-out times, to make the experience smooth for all parties.
Step 5: Secure Storage for Valuables
Finding storage for your valuable possessions, such as passports, jewelry and other keepsakes that you want to secure. Find peace of mind with Storage West’s numerous facilities in California, Arizona, Nevada, and Texas. Whether renting out a room or an entire property, Airbnb hosts appreciate our individually alarmed units. Plus, many units include air conditioning or cooling to protect belongings from heat (subject to availability).
Becoming an Airbnb can be immensely rewarding. Just make sure you take plenty of time to research how to start an Airbnb before diving in! We’re happy to answer all your storage questions, so you can start welcoming visitors from across the world to your beautiful space.