With so much competition regarding Airbnb, it gets harder and harder to make a decent profit, especially if you’re starting as an Airbnb host. However, newcomers miss many tricks and tips of the trade and rules they need to learn.
But worry not because we have prepared a comprehensive guide with tips for Airbnb hosts to help you out. Keep readings for the best advice.
An Introduction to Airbnb Hosting
Airbnb started in the early 2000s, but sharing homes became popular in the nineties. It was a rocky road getting Airbnb to launch successfully. The company failed several times before going public in 2020.
Cities needed help with people subletting their apartments and homes or even living rooms. However, the persistence of the three founders led to the Air Bed and Breakfast becoming a unique success story and the most popular hosting site today.
Listing Your Property on Airbnb
When you decide to list your property on Airbnb as a new location, there are a few requirements you have to meet.
Requirements for Listing
The only requirements are that you have attained all the necessary local paperwork to rent it, whether that is a permit, license, or registration. In addition, hosts should list the type of property, the included amenities, and any necessary local regulations a guest needs to know.
Tips To Optimize Your Listing
One of the most important things to a profitable listing is high-quality photos. Guests want to know precisely what they will get, including providing detailed descriptions and strong guest reviews. Ensure that everything, including amenities and pricing, is accurate.
Setting the Price for Your Airbnb Listing
It can be challenging to decide how to price your listing. However, there are some things you have to take into consideration. Such considerations are the time of year it is, where it is, and how many other listings are around you.
Factors To Consider
Listing prices can change based on many factors, such as the location, what time of year it is, what size of the property, and what other listings are around. For example, places at the beach are high priced during the busy summer months, while the listing price drops for the winter season.
Dynamic Pricing
Dynamic pricing is when the pricing of an Airbnb listing varies based on the time of year or season. Research what is typical for the area and listings similar to your own.
Setting a Minimum Stay
Setting a minimum stay is crucial when you put up your listing because, for some places, that is how you make money. Select your Airbnb listing and click manage to find out how to edit your minimum stay requirement.
Taxes and Regulations for Airbnb Hosting
New Airbnb hosts should be aware that Airbnb listings in Australia have specific tax and local regulations and insurance policies that vary by state.
Compliance With Local Regulations
Cities will have different regulations. The maximum number of days someone can stay changes based on state and local regulations.
It is different if you host a short-term rental compared to a regular Airbnb. When you list your property, take the time to decide what kind of a rental it will be and what regulations must follow.
Taxes
It is essential for hosts to keep accurate records and to report the correct amount of payments, expenses, and other fiscal information.
Insurance
All Airbnb hosts need to have Host Liability Insurance. The insurance will cover any guests getting hurt at the listing and any belongings that are stolen or broken at the listing. Airbnb offers this, and the coverage is up to one million US dollars.
Communication With Guests
Airbnb provides a smooth way to communicate with guests through its messaging feature. In addition, they have policies to keep the site secure, private, and professional.
Responding to Inquiries
All hosts need to respond promptly to all inquiries. Hosts should provide clear and accurate information that answers the questions correctly. Be kind and professional to build rapport with potential guests.
Booking Requests
When a guest tries to book your listing as a host, there are a few responses you can give. The main three are accepting, declining, and rejecting the request. You can review each request to set clear expectations.
Managing Guest Expectations
It is essential that you, as a host, set clear house rules and expectations you wish them to follow. In addition, provide helpful information about the area surrounding the listing and the property itself.
Cleaning and Sanitation
One of the hallmarks of any place guests stays, whether someone’s home or a hotel, is the cleanliness of the area. No one wants to sleep in a disgusting home, nor will they want to come back or leave a good review.
Airbnb Cleaning Policy
Hosts are required to clean during every stay. They can hire out, but the space should be free of mildew, pet dander, dust, and health hazards such as vermin, pests, or mould. For some hosts, it is more efficient and quality-controlling to clean themselves, but for others, they pay a local cleaning crew.
Safety and Security
Security comes in multiple facets through multi-factor authentication, property requirements, and Airbnb policies.
Measures To Ensure Safety and Security
Airbnb has a few policies in place to secure the process of booking a stay and ensure guests will be safe through the entirety of their stay. Here is a breakdown of those measures.
Securing the Property
Airbnb requires hosts to provide accurate safety information and to stay up to date on all safety requirements. There must be precise procedures for check-in and check-out for all listings, no matter the location. No cameras are allowed in private areas in the listing, and all cameras must be listed in the property information.
Security Deposit
Airbnb does not allow all hosts to charge a security deposit through the resolution centre. Instead, they have a policy that is clear about a damages fee. However, hosts can set a security deposit that follows the Airbnb policy regulations if the listing connects to API software.
Resolving Disputes
The Resolution Center through Airbnb is the place to resolve any dispute over damages or issues with a guest’s stay. For a claim to be valid, it must be reported within seventy-two hours of discovery, according to Airbnb guidelines.
You can find the Resolution Center in your Airbnb account, where you can make your claims or dispute guest claims. An Airbnb advocate reviews the dispute to make the final decision.
Key Exchange and Check-In/Check-Out
Airbnb includes a default check-in time of 3 pm and check-out time of 11 am according to the local time.
Best Practices for Key Exchange
Sometimes it isn’t easy to get a physical key to guests, especially if you do not live nearby. Make the process smooth by over-communicating and clarifying the essential steps. A key code is the simplest way, as it is a password that can be shared without you having to be physically present.
Guest Experiences
The most important thing to creating a lasting listing that brings in guests and provides income is to guarantee guests have a positive experience shown through reviews.
Providing Amenities
A way to show guests that you care and build a relationship with them is to provide all the little touches that make a stay enjoyable. Supply them with the essentials and maybe a little extra. Make the listing somewhere they want to stay.
Creating a Welcoming Atmosphere
Finding a welcoming atmosphere somewhere unfamiliar and far from home is challenging but possible through each space. This is achieved in various ways, such as keeping the space clean, lacking clutter, being well-lit, having a comfortable temperature, and being ready for whatever the guest needs.
All the small, little things create an overall experience for every guest. Airbnb hosts should find the balance of providing everything needed without going overboard or hovering.
An Airbnb listing should have a hotel’s cleanliness, safety, and availability with the added benefit of a welcoming atmosphere that feels like home.
Final Thoughts
Airbnb is an industry unto itself with growing popularity and service offerings. Whether you’re interested in booking your stay, becoming a host or commiserating with members, we’re here to connect you ASAP.
How do you feel about Airbnb’s virtual services or neighbourhood tours? What do you make of the company as a whole? Feel free to share below. In the meantime, best of luck with your personal query and let us know how you got on!
HomeHost is a Host Management company managing properties listed on Airbnb and other platforms. Talk with HomeHost about managing your property. Call us on 1300 171 718.
