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Airbnb Host: How to make Money with Short-Term Rentals

Thanks to the internet and sites like Airbnb, you can now turn your home into a piggy bank. With short-term rentals through Airbnb, you can enjoy a steady source of income while meeting people from across the country and around the globe.

If you would like to turn your home into an Airbnb, you need to do your homework and make sure these short-term rentals are legal where you live. Once that initial research is over, you can start welcoming guests into your home and making some extra money in the process.

Of course, there is plenty of competition in the Airbnb arena. If you live in a popular city or near a frequently visited tourist resort, many of your neighbors have probably already gone down the Airbnb road. Here are some things you can do to make your property stand out, so you can go to the top of the list when a potential guest does a search.

 

Don’t Undersell – Don’t Overcharge

As an Airbnb host, you need to walk a fine line. You do not want to undersell your property; after all, your home is great, and the guests you welcome will love it as much as you do. You want to put your home in the best possible light, so do not be afraid to brag a little.

At the same time, you do not want to overcharge for the Airbnb experience. There are several competitors out there, maybe even the house next door, so research the going prices and set your rates accordingly. You want your guests to enjoy the experience, not feel like they are being taken for a ride.

 

Make Your Experience More Attractive

If you want to set yourself apart from the competition and make your property pop, think about what you can do to make the experience special for your guests. Do you love the city you live in? Would you be willing to lead your guests on a tour? Can you provide insider tips on where to eat, what to see and what to do? If so, you can distinguish yourself by putting these extras in your ad.

Before you post your Airbnb ad, take a critical look at what you have written and which pictures you have posted. You want photos that put your property in the best possible light, so bring all your camera skills to the table.

 

Network and Advertise

It does not matter how great your property is or how many extras you have to offer. If no one knows your home is also an Airbnb, you will not be welcoming many guests.

If you want to enjoy that extra income and meet people from around the world, you need to do some networking. Listing your home on Airbnb is only the first step; you also need to network and advertise. Reach out on social media, let your friends know your home is open for business, post on travel websites; the more you can do to advertise your Airbnb, the more successful your listing can be.

Turning your home into a short-term rental property can be very rewarding, but only if you do it carefully and know what to expect. The tips listed above can help you succeed in this competitive marketplace, so you can start enjoying the rewards of being an Airbnb host.

To find the perfect property for your Airbnb to rent out, contact Urbanista today.