If you’re looking for a way to earn extra income, the answer might be right down the hall. Renting your guest room, basement, or second home can turn your seldom-used space into a money-maker. Airbnb hosts make an average of $924 a month using the platform. Are you ready to cash in on the concept? Here are four steps to take before listing your rental on Airbnb.
Get a Professional Home Cleaning
The first and most important step in listing your rental on Airbnb for guests is a thorough cleaning. While you can clean your own Airbnb rental, leaving it up to the professionals is a smart idea that saves time and can earn you better reviews. A professional cleaning service can even help you earn more profit during times of high demand by decreasing the time it takes to ready your rental between guests.
Remove Valuable and Sentimental Items
The last thing you want is for a guest to break your new OLED television or your grandmother’s antique teapot. Avoid potential disasters by removing anything of special value from your rental space before listing it on Airbnb. Consider replacing expensive amenities like appliances and electronics with cheaper versions. Pets should be kept out of your rental space for their own safety and for the comfort of guests with allergies.
Take a Class
Do you want to take your Airbnb hosting to the next level? Consider enrolling in an Airbnb Course to learn the secrets of maximizing your profits on the rental platform. These classes can teach you everything you need to know from managing Airbnb to setting up your space, advertising your rental effectively, and creating a great experience for your guests. A good course can benefit both novices and seasoned hosts.
Get Insured
Airbnb provides an excellent insurance policy for its hosts that covers up to one million dollars of third-party claims. However, this policy only covers your guests and doesn’t extend to your own property. Make sure you’re covered and keep in mind that your homeowner’s policy may not cover commercial activities. Ask your insurance provider if you need to update your policy before listing your rental.
One of the best things about the Airbnb platform is that your rental business can be anything from an occasional hobby to a full-time income. Whether you want to rent out your spare room for one weekend a month, fill your family vacation home during the off-season, or purchase multiple apartments to rent, the choice is yours.
