What To Know Before You Airbnb

I’m sure you have heard about Airbnb. If you haven’t, well, it’s an awesome website that allows you to list your home, or a part of your home, to those who are traveling for a certain amount.

Some rent their whole home, some rent a just one room of their room, some rent a guest post, a boat, and so on. There are many different options, and even one option is to rent a “treehouse.”

Placing an ad on Airbnb for your home can be a good way to make some extra money. However, there are many things that you need to think about in order to keep you and your home safe.

Is your home even a place that people would want to stay?

In some areas, many people may be waiting in line to stay in your home or apartment. However, in some cities, no one may even be interested. Is Airbnb something that you are trying to live off of? Is that realistic for you?

What do you need to buy?

So, if your answer to the above question was a “yes,” then you need to think about what you need to buy so that people would want to stay in your place. Maybe you are only renting a private room and need to make it more live-able. You will want to provide a bed, blankets, pillows, and so on.

How much should you charge?

Look at similar places to yours and see what you need to charge. Charging $1,000 a night when your monthly mortgage is only $500 is probably not very realistic.

Is it legal?

In some cities, short-term leases on Airbnb are not even legal. You will want to make sure that what you are doing is legal in your city so that you are not forced to pay any fines.

If you are renting out your whole home, where will you stay?

Many people rent out their home even if it is their main home. You will want to make sure that you yourself have somewhere to stay. If you have to stay in a hotel, then your profit will most likely not be as high.

Find someone to manage the property.

If this is a place where you don’t visit very often, then you might want to hire a property manager. You will also need someone to clean the property as well.

Would you ever list your home on Airbnb? Why or why not?

 

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