Airbnb is becoming very popular in the vacation rentals market. More and more people are signing up as hosts on this growing platform. However, when it comes to hosting, it is very important for you to know some practical tips that will contribute to you becoming a popular host in the vacation rentals market and earning extra revenue in the process!
Tips from an experienced expert
Brian Ferdinand is the COO of Vacation Rentals LLC and an experienced financial consultant with 15 years of expertise of trading technology and methodologies. He says when you are on Airbnb and wish to earn money, there are some simple tips you should be aware of. The first question that comes to your mind is what do you wish to get out of hosting? Now, if you look at Airbnb hosts today, you will find there are three types- the first wish to earn a few extra money with the space they have, the second wish to have a secondary source of income and the third wish to seriously establish their vacation rentals business on Airbnb. He says when you are on Airbnb as a host, you first should determine what your hosting goals are.
Once this has been done, remember you have to plan on strategy and risk. The earning potential is also there as well. If you are new to Airbnb, the process does not begin with you listing your unit and potential guests come in. The process starts with you taking out time to chat with potential guests and be patient enough to answer all the questions they might have before they finally book your vacation rental. The onus here is that you should have very good reviews. This takes time and does not mean it can be attained over-night. Guests come, stay and then they leave. If they are happy with your services, they will post good reviews. In case they are not, it is high time for you to start learning and improve on the flaws.
Now, if you are renting your home for vacation rental, ensure you have proper insurance coverage as short-term renting may cause damages to it in case you have guests that are not as careful as you. You may start to consider additional insurance coverage in case you have items that are at risk. Talk to a good insurance company and find out the options open for you.
Brian Ferdinand says, last but not the least, it is important for you to remember the fact that you have neighbors. If outsiders create a lot of noise, your neighbors might object and spoil your hosting dreams. Check where your space is located – if it is too quiet, you may need to reconsider your hosting dreams keeping them in mind. There are many hosts who lose revenue because of their neighbors who objected to the noise and commotion caused by outsiders. If your neighbor does get angry and barges into your space, this will create a negative impression.