There could be various reasons as to why you’d want to start an AirBnb, it may be to earn some extra income from a spare room; maybe you have a holiday home mortgage you want to pay off and renting it out would cover it, or maybe you see it as a nice way of meeting new people. Whatever the reason, there is a general set of criteria you will want to follow, and possibly expand on, to give your guests the best experience possible.
Is this really something you want to pursue? What are your reasons for doing this and do you have any prior experience? Once you get started with something like this, you’ll have to keep going as investing in an Airbnb from scratch will be time consuming and might cost a pretty penny depending on your situation. Think this over thoroughly before heading onto the next step.
Duh? But there is obviously no point in planning to start an Airbnb if you don’t at least have a place in mind. This is easier said than done and requires a lot of research around what fits within your budget and meets your needs. You will rarely find you perfect place, so there may be a lot of compromising involved, but this is all part of the game. Consider whether you want a whole property to be listed on Airbnb or just part of it, and then figure out the ideal location and the going rate for similar properties. Once you have made up your mind, work towards securing it.
A method of management
Some people want really passive income and that means hiring management to deal with all the bookings, complaints, marketing and upkeep, for a fee. If you want to deal with all this yourself and see more income, then ensure that you are able to have these areas covered by investing in booking systems, cleaners and handymen, and learn about marketing, to name a few. Being able to manage the property and possibly be juggling this with your daily life and full-time employment may be hard work, but it will certainly pay dividends if done well.
A good photographer
If you fancy yourself handy with the camera, then by all means go ahead and take flattering photos of the property. However, if you know you aren’t the best and you are humble enough to admit it and do something about it, then hire a professional with experience in this field. Remember the saying, it takes money to make money, and this is often the case. Investing in having photos taken professionally the first time round will save you having to do it again anytime soon, and it’ll guarantee to show the property in a good light.
Follow these steps to ensure you make the right decisions with your potential Airbnb.