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What Does Being An Airbnb Host Really Entail?

Airbnb is one of the biggest unicorn companies taking over the world right now. Unicorn companies are any business that can be valued at over $1 billion, and it didn’t take long for Airbnb to reach that status. Now, there’s a whole slew of online property rental services that allow property owners to temporarily rent out their homes to individuals looking for a little getaway. However, Airbnb still remains the most lucrative out of all of them. 

Being an Airbnb host may not have ever seemed like a feasible idea to you before, but when you consider the benefits, it almost seems like too good of an opportunity to pass up on. Granted, you will need to ensure you have another place of residence to stay at while your property is being rented out, however, what you earn from Airbnb itself might be convincing enough to do so. 

Obviously every space is different, and will be valued according to specific qualities such as location, room numbers, amenities, and historical trends that local competition has priced itself at. Most first time Airbnb hosts use the startup Eliot & Me or any other rental pricing calculator to determine how much they should be charging per night to renters. 

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If you have access to any local real estate agents, don’t hesitate to ask them to appraise your property for rental pricing as well. Individuals in the real estate industry will know better than anyone what your home should be valued at, even for short-term renting. Airbnb customers can make anywhere between $2,000 – $10,000 after renting their properties out just once, depending on the duration of stay and cost per night.  

Airbnb prides itself on professionalism and keeping the renter/client relationship cordial. Individuals who rent out their homes are automatically paid exactly 24 hours after a guests check-in time. This is meant to ensure that neither party is scammed or has any major issues before a concrete money exchange is made. 

Many individuals who are privileged enough to rent out one of their properties multiple times in a given year can rely on Airbnb hosting as their primary source of income. However, it’s important to note that while this sounds like it may be an “easy” career path, as a host you need to understand that this is still a job, and you’re expected to run your “business” as a host efficiently, just like any other job. 

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So what are some of the responsibilities that come with being a host? First and foremost, you should respond rather promptly when an individual states their interest in renting out your property. Answer any questions clearly and concisely, remember, how you interact with each person who rents your property will be reflected in their online reviews afterwards, which future clients will see. 

When you actually lock in a rental for the future and it comes time for your new guests to arrive, make sure your property is clean and everything is set up as expected before their arrival. Any accommodations that you listed on your profile should be pre-prepared for use. Accuracy is the key when it comes to hosting, so make sure every room matches its picture and your personal belongings are out of sight. 

The pictures on your profile are arguably the most important part of your listing, as well as your ability to host. Obviously these photos will play a major role in your potential guests decision making process, so make sure they really showcase the essence of your property. You don’t have to live in a huge mansion to properly show off the pieces of your property that anyone would enjoy on a temporary stay. 

Honesty, professionalism, and promptness will get you far in any industry, and when it comes to renting out your own house, these factors couldn’t be more relevant. If you’re still unsure if being an Airbnb host is right for you, do some research, ask around and find people who have rented out properties for short-periods of time before. Even if it wasn’t through Airbnb, they’ll still have amazing insight into what it’s actually like to leave your home for a little while for financial gain. Talk to real estate agents and search up some chat forums on the topic, before you know it, you’ll be ready to host your first guests!