IN this article I will cover the main method for how to make money on Airbnb. Airbnb has become so big that people use it as a reference – “Airbnb for cars” (Turo), “Airbnb for food” (EatWith), “Airbnb for boats” (Boatsetter). The word “Airbnb” (originally airbed and breakfast) has become synonymous with the phrase to rent out. It bridges people looking for short-term stays with people willing to rent out their spaces. Hosts set their own prices with recommendations from Airbnb.
Ease of Use ⭐⭐ (2/5)
Earning Potential ⭐⭐⭐⭐ (4/5)
Fun Factor ⭐⭐⭐ (3/5)
To start, sign up with the Airbnb website then confirm identity by uploading a profile picture, verifying your phone number, and synching your email contacts. As a host, you are protected by a $1M property damage and insurance against accidents for free. Renters submit a valid government ID and agree to your house rules before they can book your property.
Availability: All Countries
Mode of Payment: –
- Bank Transfer
- Western Union
- ACH/Direct Deposit
Use software such as Syncbnb to list your property on multiple sites without having to worry about double booking.
Ask for high ratings without being too forceful about it. Sometimes guests really like the place but do not bother rating because they just don’t understand how it can help the host. Of course, you cannot just simply ask for it, make sure the experience is really worth the high rating.
Ask for feedback on what you can improve on. Be open and listen so you can avoid making the same mistake next time.
Manage expectations by being truthful with your property description (and pictures). Mention all unwanted features if any. You don’t want any nasty surprises for your guests as this will negatively impact your review.
Keep a good response rate and avoid cancellations.
Provide all the necessities – internet, coffee and kettle, towel, toiletries. Give something extra like special soaps, lotions, snacks, premium coffee, small seasonal gifts. Something as simple as a “Cleaned and Sealed” toilet seat can enhance the perception of the cleanliness of the place.