This article, Ready to host your space on Airbnb? 6 tips, originally appeared on TechRepublic.com.
With
a rapidly shifting job market, piecing together an income is the new
reality for the 21st century. Not only are sharing economy staples such
as Lyft, Uber, and Airbnb a good place to save money on services, but
they're also can be a good place to turn if you're looking for extra
money to help make ends meet. Using Airbnb to rent out a house,
apartment, or even just an extra room can not only help bring in cash,
but can be a good way to meet new people and see your city through a new
set of eyes.
If
you're thinking about hosting your own space on Airbnb, I have been
doing it for about six months and these are my six best tips--and
considerations--for successfully listing your space on the service:
1. Do you like people?
This
should seem obvious, but is worth stating. Are you a people person? If
you are, this is the perfect way for you to meet out-of-towners, talk
about your favorite hole-in-the-wall spots and make connections that can
last beyond the Airbnb experience. No matter if you physically meet
your guests or simply have them pick up a key, you'll be spending time
making arrangements and coordinating with guests--so make sure this is
something you're cut out for.
2. Do you have the time?
Hosting
on Airbnb may seem like an easy way to make money, but there's time
involved, too. You've got to set up your profile (and the photos really
do matter), communicate with guests, and, most importantly, have a space
that's clean and neat and ready for newcomers. Don't forget the little
things, like cleaning out your microwave, hiding away your alcohol, and
locking up valuables like your passport! And then when it's all done,
you've got to wash sheets, towels, empty trash, vacuum up (at the
minimum). Make sure you've got the extra time in your schedule to handle
all this before you commit to hosting.
3. Research your guests
When
you get requests from potential guests, you'll be able to view their
Airbnb profile. You can take a look at reviews written by previous
hosts. These are worth looking at very carefully to assess whether or
not you would like to host these guests. Are they respectful of
property? Quiet? Do they communicate well? Make sure you get the full
picture before committing to host. In some cases, you may get requests
from first-time Airbnb users. If that happens, do a little of your own
research and try to figure out more about the potential guests. Don't be
shy about asking questions, either--this is your space, and it's worth
taking the extra steps to ensure you feel comfortable renting it out!
4. Know how to communicate
A
big factor in a successful Airbnb exchange is communication. Make sure
you regularly check your Airbnb account, email, texts, or Airbnb app for
messages. You will eventually be rated on how quickly you respond, so
don't make anyone wait too long. And feel free to communicate with
potential guests beforehand if you're unsure whether or not you can
commit to hosting.
5. Put in the extra effort
Since
your success in business will depend on the comments of others, try to
establish a friendly relationship with your potential guests even before
they arrive. Think of a little "extra" you can leave for them. Some
ideas might include: nice chocolates, a gift card to a local coffee
shop, a bottle of wine, or even a handwritten note. Guests also
appreciate tips on restaurants, maps, and local points of interest.
6. Check out tax laws
Great!
You've done the work, set up your bank information, hosted an Airbnb
guest, and the money has just landed in your account. But before you
celebrate, check out your local tax laws. They're different in every
state, and can sometimes be a bit confusing. Make sure you take account
of how much you may owe at the end of the year, and put money to the
side for when tax season comes around. You may be able to deduct some
expenses, as well--it may be worth consulting an advisor to figure out
the specifics for your situation.
Also see
- When using Airbnb makes sense for business travel: 6 things to consider (TechRepublic)
- We-commerce: The sharing economy's uncertain path to changing the world (TechRepublic)
- 10 sharing economy underdogs you should know (TechRepublic)
- 10 ridesharing companies that can make your work trip more efficient (TechRepublic)
