The way I see it, this has been the decade of making money, generating profit, you know getting that paper, cashing that coin, making some dough? Alright, I’ll stop. Point is, this is the time in history where regular people have gained an understanding of business. Utilizing whatever resources you have to make a smart profit is the new norm. Airbnb is also one of the genius ways to earn money on a space that you’re already paying for!
If you’re wondering whether you should host an Airbnb, just go through my list of deciding factors and you’ll be good to go:
Before anything else, I recommend you take a look at Airbnb's evolved (very impressive) standards for ensuring safety during COVID because let's not forget that Miss Rona is still prancing about in the air. Read their policy regarding mask-wearing, social distancing and five-step enhanced cleaning process and see if you can comply with that before moving forward.
1. Do you see profit?
Taxes, utilities that the guests will use, money that goes into having a listing on the app, and any consumables (soap, toilet paper, towels, maybe breakfast items or snacks if you’re feeling fancy) that you will provide; these are all of your costs. Research the existing rates of similar residences in your area to get an idea of the money you’ll make. Calculate if you’ll be in profit! You can also find Airbnb Calculators online to help you with this factor.
2. Do you have the time?
While this is definitely one of the easier ways to make money, you will have to invest a bit of time initially to ensure that your home looks and sounds attractive enough to customers online.
Other than taking high-quality pictures (Airbnb assists you with a photographer) and writing a description of their dreams, you’ll also have to respond to inquiries and take orders. You can outsource this bit as well but that will make a small dent in your profits so revisit point number 1 if you decide to do that.
3. Do you enjoy hosting?
This might be the simplest but the most important factor. You will probably be dealing with groups of teenagers looking for adventure, lovestruck couples looking to find each other, runaway loners looking to find themselves, the whole lot! Consistent customer service and positive reviews are what will drive your business. Decide if you’re up to it.
4. Do you have your cleaning under control?
Other people coming and actually living in your space for days means that deep cleaning is needed before you have your first guests over and also a deep cleaning between every guest. This will require constant effort and commitment to it should be part of your decision-making.
You can always count on us for this if you don’t have the time, and your home might be the most highly ranked when it comes to hygiene (just saying).
In fact, we recently did an Air BNB style cleaning in this cute little cabin. Check out how everything is disinfected, the wood is polished, dusting done, kitchen and bathrooms scrubbed and polished, the laundry is done, and the floors are clean!