- How to List Your AirBnB Space
- Sign up on the platform
- Prepare your listing
- Alternatives to AirBnB
- AirBnB Costs to Consider
- Pros and Cons of AirBnB Hosting
- The bottom line
How to List Your AirBnB Space
Sign up on the platform
Prepare your listing
Understand local zoning laws
Photograph your property
Set your rates and start accepting guests
Alternatives to AirBnB
|Cleaning||Host is responsible for all cleaning||Guest is expected to do some light cleaning||Host is responsible for all cleaning|
|Host fees||3% to 5% commission from bookings||Annual subscription of $499 or per-booking fee with a 5% commission and 3% payment processing fee||3% per booking plus 3% payment processing fee|
|Guest fees||10% to 13%||10% to 11%||8% to 16%|
|Property type||Shared or private accommodation||No shared rooms||No shared rooms|
|Damage insurance included for hosts?||Yes||No||No|
AirBnB vs. Vrbo for hosts
AirBnB vs. Flipkey for hosts
AirBnB Costs to Consider
- Home insurance: If you’re renting out space in your home for short-term rentals, it’s likely your home insurance policy will increase. Be sure to budget for this before you start hosting on AirBnB.
- Local fees: Registering and licensing your AirBnB could incur some upfront costs. These vary greatly by jurisdiction, so check with your local authorities.
- Cleaning supplies: Whether you’re paying a cleaning service or cleaning your listing yourself, it will cost money to buy all the necessary supplies to keep your space sparkling clean. AirBnB does allow you to charge guests a cleaning fee, so consider the true cost of cleaning when setting this fee.
- Furniture and linens: You may need to purchase additional linens or different furniture to make your space AirBnB friendly. Keep in mind that if you’re going to host guests back-to-back you’ll likely need a second set of linens in order to turn your space over in time for the next guests.
- Contactless entry: With touchless check-in becoming more prominent, many AirBnB hosts are installing keyless entry systems, or at the very least purchasing external lockboxes, which can run anywhere from $50 to over $200.
- WiFi and utilities: Having others in your space could impact your heating and electricity bill, in addition to your internet usage. Consider that many guests expect streaming nowadays, so if your internet isn’t fast enough to reliably stream films or do video calls you might have to upgrade.
- Toiletries and pantry staples: You’ll also have to keep a steady stock of toiletries, paper towels, toilet paper and pantry staples such as salt and pepper or cooking oil.
Pros and Cons of AirBnB Hosting
- Extra income: Hosting is flexible— use it to boost your monthly income, or increase the number of properties you have on AirBnB to make hosting your full-time job.
- Flexibility: If you don’t want to rent your space to full-time tenants, AirBnB can be a solution that allows you more flexibility over who is in your home and when. Block whatever dates you’d like to keep for yourself and open your calendar when you’re ready to host.
- The platform handles payments: Since AirBnB handles guest payments, and they collect them before your guest’s stay begins, you never have to worry about chasing payment or guests being late on rent.
- Damage: While AirBnB does provide compensation for guest damage, some wear and tear are to be expected. You can request a security deposit from guests, but can’t use this to pay for typical wear and tear on your home. Be prepared for scuffed walls, scratched hardwood, and little things that you’ll most likely notice as a homeowner. If you’re not used to people staying in your home, this damage can be hard to adjust to.
- Uncertainty: If you’re relying on your rental income to help with your mortgage, you have less certainty with AirBnB than you do with tenants who have signed a lease. While there’s a chance you could earn more from your AirBnB, there’s also a chance that you could earn less during slow months. These fluctuations require more advanced planning.
- Daily upkeep: Becoming an AirBnB host means you’ll need to be available at almost all hours of the day to answer questions, respond to reservation requests and even cleans up after guests.
The bottom line
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