Posted on July 26, 2016
Being an Airbnb host is an amazing opportunity not only to have a side hustle and earn some extra money, but also it is a great way how to meet people from all over the world and form friendships that last a lifetime. However, if you are thinking about starting in the Airbnb hosting business, there are some things you should know beforehand, so that you can be the best host you can be and people actually want to stay at your accommodations.
The first thing to consider when you are planning to become an Airbnb host is what are your goals and expectations regarding the hosting. The hosting will differ if you want to just earn some extra money every once in a while or if you want to turn your Airbnb hosting into a business and have it as a consistent source of income. The reason for this is because the more income you want to get out of your Airbnb hosting, the more work, planning and capital you will have to put into it. And you have to manage your expectations, too, because often the start of an Airbnb hosting business, like almost any other business, will have a slow start until you will build a good rating for yourself as a host.
The second thing is that you have to know the time commitment you are making, once you become an Airbnb host. Of coarse you can outsource things like guest check ins, cleaning of guest rooms and such, but chances are that at first you will have to do that yourself. So if you have a high demand job, which doesn’t allow for side gigs, even if that gig is something like hosting guests, then thing long and hard before you commit to being an Airbnb host.
Also you have to get your landlords permission to host Airbb guests, especially if you are renting your apartment. It would good to at least warn your neighbors that you will be starting as an Airbnb host, too, so they aren’t alarmed when strangers go in and out of your apartment and visit your apartment building. And if your building has a doorman, then he will definitely have to be in the know. In short, make sure that the people around you know what you are doing and are informed about what does it mean for them that you are an Airbnb host.
And the last thing to know is to think about insurance coverage. The cases of bad Airbnb guests and robbed apartments aren’t frequent, however, you are still inviting strangers to stay at your house and to be there even when you yourself aren’t home, so take all the necessary precautions and get a proper insurance coverage for your place. You can also check out the Airbnb’s liability insurance policy, which, too offers some protection to Airbnb hosts in case of bad guests.