Not everyone is yet familiar with Airbnb as a service though most people have an inkling as to what the company does. If you’re looking for an additional income, and own property, then Airbnb can be a superb source of income. Airbnb hosts offer apartments, spare rooms and hold homes to guests from around the world who want to stay for varying lengths of time.

Airbnb, how does it work?

The model is simple with that of a regular B&B. People like yourself have some space in their properties, for our away for a period of time and they allow people to rent a portion or all of their property for a trip, corporate stay or for longer-term accommodation.

How much money do Airbnb hosts earn? 

Most people who have Airbnb properties do so as a bit of a side hustle, rather than to start up a business. The average Airbnb host makes around $950 per month, but the numbers obviously vary wildly based on location, property, and so forth. There are hosts on Airbnb that make six-figure incomes from renting out multiple homes or apartments stop

Beginning your Airbnb adventure

• Complete some research

If you already have a property, or if you’re looking to buy or lease one specifically for an Airbnb income, you want to make sure you’ve done all of the preparation required. The first thing is to work out how much you can make from your Airbnb property and work out whether it’s worthwhile. If you are getting a property specifically for Airbnb, need to make sure that you’re going to cover all of your outgoings.

If you intend to get a mortgage either to buy or renovate an existing property for Airbnb, be sure to brush up on all the jargon and industry terms to get the money you need to bring the project forward. 

• Create your Airbnb profile

Before you can list your property, you need to create a profile and make sure all of the details are filled out completely. Many people looking at Airbnb will be sceptical if they see that you haven’t filled out your profile and it will turn a lot of potential visitors off. Make sure everyone feels comfortable by adding a complete profile.

• List your options

Entry list your options transparently and accurately after you have been verified. Airbnb is effectively an online marketplace, so to sell your property, you will be dependent on the reviews of your guests. If you mislead guests, you will end up plummeting down review ladder and went guests stop be honest, be open but the best but forward to make sure your property is clean and tidy when they arrive.

• Pricing

If you set the price that whatever you want, you can charge different rates depending on the season, weekend or anything else. When starting out most people are willing to take off 10% off per night to get some reviews for their property. 

People will tend to book with good reviews rather than those properties that are just starting, so it’s worth beginning with some discounts. Take a look at similar properties in your locality and set your pricing competitively.

• Make sure your guests receive great service

You’ve got to think about Airbnb as a business and make sure that you offer superb customer service to your guests. Meet them on time, provide them with the water bottles in the fridge, write them a welcome note and provide them with a guide to your city. 

However, you can provide a better service without spending too much try to do so. Often, service is mostly about how you interact with your guests. So, be kind, be respectful, and be patient. 

Final thoughts

It is quite easy to earn money with Airbnb from people looking to stay in your area. More and more people are gravitating to Airbnb as a way to get relatively low-cost accommodation in a home away from home. To make it profitable though, take time to put together a comprehensive package online that details all of your facilities, options and make sure your pricing is competitive.