Factors to Consider for Making Money with Airbnb

Airbnb is an online community marketplace where landlords can offer their place as short-term rentals. Since the launch of this start-up idea, many have opted to stay away from local hotels for cheaper property alternatives. It has also become a profitable endeavor for homeowners since it allows them to earn a few hundred dollars just by hosting travelers whenever they prefer. Since it has been a competitive platform, here are some tips on how to make money with Aribnb:

Collect badges

Badges like “Verified Host”, “Instant Book”, and “Superhost Badge” make you a credible host. To be verified, you have to provide a government-issued ID and link your social media accounts. Aside from letting your potential guests know that you have a legitimate property for short-term rental, this status allows you to choose guests who, likewise, have the same verified status as yours.

Additionally, having an “Instant Book” badge gives guests the peace of mind that they can have a guaranteed place to stay while a “Superhost Badge” ensures them that you’re an excellent host, thus, giving you an advantage over other competitors.

Keep your space spick and span

Apart from the budget and the location, cleanliness is one of the top considerations of any traveler. Keeping your place clean and stocked with amenities will score you a useful review from your guests, thereby increasing your marketability. Make sure that the basic amenities are there, such as toilet paper, shampoo, and soap, because these small comforts are well-appreciated by guests.

Invest in good aesthetics

Since the platform is sometimes a game of aesthetics, upload high-quality yet realistic photos of your property. Try to keep your amenities in top condition so that it will look pleasing to your potential guests. If you can, have a themed décor for your property. Do not just offer a bare space. Add in colors and make it as homey as possible. A well-designed property can give justification for the rate that you are asking for.

Be responsive

Do not leave your guests hanging. How you respond and how fast you respond are reflections of you as a host. If you respond urgently to your potential guest’s inquiry, you can quickly leave the impression that you care about them.

Leverage tax rules

If you are residing in the United States, there is a federal law called the Master’s rule, where you’re allowed to rent out your property for 14 days or less, and you’re not required to pay taxes. It can be highly profitable if you vacate your homes for a week or two during high seasons and rent out your place for higher rates.

Branch out and invest in other properties

You can be a profitable real estate investor without owning real estate. It can be legally done by renting other prime properties and letting your landlords know that you will be marketing their place. It’s one way on how to make money with Airbnb.

If you’re interested in this kind of hustle, BnB Formula offers training and business kits on how to help you maximize your profits. Making money is not rocket science. If you provide comfort and care to your guests, you will surely have a stream of clients lining up your doorstep.