If you have a property to rent out or a spare room in your home that you could use to make an additional income, then you may have considered Airbnb. Airbnb has boomed in popularity in many places around the world, with more people choosing them over hotels and other traditional accommodation options like serviced apartments in a bid to save money and enjoy more convenience. Airbnb is an online marketplace that is designed to connect short-term rental hosts with travellers. Hosts can list their property or the space that they have available to rent out in their home and earn money from travellers who book to stay there. So, how do you get started and register on Airbnb as a host? Read this guide from the UpperKey.
Running an Airbnb is running a business, so it’s a good idea to start with a business plan. There are several things to consider as you do this that will help you start a successful Airbnb listing. If you don’t already have a property or room in a property and are going to invest, then it’s all about choosing the right location. Airbnbs are popular everywhere whether you want to rent out a property in the peaceful countryside or a busy and bustling city. Once you have decided on a location, spend some time surveying your market, finding out what locals think of the idea, speaking to people who stay in that location often, and finding out more about short-term rental rates in the area to determine how much you will be able to charge per night for your Airbnb.
Regulatory and Legal Issues
Before you set up your property and register to Airbnb as a host, it’s important to consider any regulatory or legal issues that might stand in your way of running a successful Airbnb. When you are registering with Airbnb, you will need to specify a location, and Airbnb will provide you with further information on any rules and regulations that you will need to follow as a host.
For example, if you plan on registering with Airbnb to rent out a property in London on a short-term basis, it’s important to be aware that you can only rent short-term for a maximum of ninety nights per year before you will need to get a licence. In this situation, Airbnb will have your back and make sure that no additional bookings can be taken once you have met the limit unless you provide proof of licencing that allows you to take further bookings.
Consider the Costs of Starting an Airbnb
Before you go through the process of registering on Airbnb, creating your listing, and marketing your property or room to potential short-term tenants, it’s good to consider all the different costs that are involved with running an Airbnb. The start-up costs are likely to be the most immediate if you are just starting out with this venture.
Before you can begin advertising your property, you will need to make sure that it meets all legal and health and safety regulations, is decorated and clean, and has at least essential furniture. Bear in mind that the more money you spend on preparing your property to be run as an Airbnb, the more you may be able to charge for bookings. Visitors are often prepared to pay more for boutique-style Airbnb properties or rooms with plush furniture and enticing décor. On the other hand, depending on your target market, you might find that simply providing the basics and charging less will allow you to get more bookings over time and increase your income this way.
Ongoing Costs for Running an Airbnb
Once you have set a budget and determined what your main costs are going to be when it comes to getting your Airbnb started, another main thing to do before you register with Airbnb is figure out the ongoing monthly cost of running the property. This will help you determine how much you should charge for each night to make a profit, and roughly how many bookings you will need to secure to avoid losing money.
UpperKey reminds Airbnb owners to consider the costs of utility bills, council tax on the property, TV licence, broadband, and parking fees, and make sure that these are factored in when setting your prices. Shop around for better deals on anything that you can such as broadband and electricity rates.
Airbnb Management Company – To Hire or Not to Hire?
If you are considering investing in a property to use as an Airbnb or already have a property that you are considering renting out short-term and listing on this platform, then you may have considered working with an Airbnb property management company. This may be an ideal choice for newcomers to the industry since a property management company can take on the entire process of getting registered on Airbnb, creating your listing, including professional photographs and copywriting, marketing your listing, and communicating with guests.
Not only that, but companies like the UpperKey can manage your property maintenance and repairs, respond to emergency calls from guests, provide concierge services and stay up to date with the local market on your behalf to ensure that your pricing is competitive and in line with local expectations. They can also take care of cleaning the property and laundering bedding, towels, and other furnishings between guests, which can help to reduce your workload.
Preparing for Registering on Airbnb
Once you have determined where your Airbnb property is going to be located, how much you are going to charge per night, what you’re going to spend on setting up and running the property, and whether or not you are going to work with an Airbnb property management company, it’s time to get set up on the site and start advertising your property to guests. Before you do this, it’s a good idea to stage the property and take professional photographs that are ready to go.
You may want to hire a freelance writer to create an appealing description of your property to add to the listing or do it yourself if you have a way with words. If you have decided to work with an Airbnb property management company and have not yet set up your Airbnb listing, they can do this on your behalf.
How To Register at Airbnb
How do I register for Airbnb? If you have a property or room that you want to rent out, and you’re ready to get started, then you’ll be glad to hear that registering on Airbnb is a simple, free, and easy process. All you need to do is download the mobile app or go to the Airbnb website, click on Sign Up, and follow the instructions.
You can register with your email, telephone number, Apple ID, or through social media. Once you have created an account, you can then create a listing for free. Airbnb will only charge a commission for using the service when you have a confirmed booking, which is typically just three percent of the booking total.
Setting up Your Listing
To create your new listing, simply click on the ‘Create New Listing’ button in your Airbnb account and fill out the form provided. Airbnb will provide you with options to select when it comes to describing your property and specifying if you are renting out a private room, shared room, or an entire home. Consider how many guests will be able to stay in your property comfortably at any one time and specify this.
Use the map to pin your property’s exact location and select any amenities that you offer. Once you’ve got the basics covered, write a title and description of your property and upload photos. It is highly recommended that you use professional photographs for this, as they will stand out and make a better impression on potential guests. Set your house rules for guests – Airbnb provides common rules that you can select from, and there is also the option to add additional rules that are not included in the list.
Be sure to add a cancellation policy – Airbnb offers three options, which are Strict, Moderate, or Flexible. Flexible cancellation is the best option for maximising your bookings. You can then set minimum and maximum stay requirements for guests. Once you have finished creating your listing, the final step is to change your availability settings and set your prices.
Whether you want to make some extra cash by renting out a spare room or are thinking of investing in a new property to list on Airbnb, there are several steps to follow before you are ready to register on the platform, create your listing and get started.