But you’re probably sat there wondering where to start, right? Our Airbnb guide is going to break down all you need to know to get up and running with your listing, helping you to decide if Airbnb is right for you and get your first bookings straight away.
Are you ready? Lets go!
Step 1 – Are You The Host With The Most?
The first thing you really need to consider when starting your Airbnb adventure is what sort of host you would like to be. Offering your space onto the Airbnb marketplace isn’t like having your friend come to sleep over for the night, you’re offering a paid service and that takes some commitment.
From regular linen washing and household cleaning to friendly enthusiasm, being an Airbnb host can be a position that holds long, and sometimes unsociable hours. When putting up your first listing, ensure you have the drive and commitment to make your guests feel right at home.
Our top tip to being a great host? Communication!
Take some time to get to know your guests before they arrive using Airbnb’s messaging feature. Be honest about what your space has to offer, ensuring the guests expectations are set just right for their arrival.
From there on it’s easy! Whether you meet them at the door or let them find their own way in, with the groundwork already set, your guests are free to enjoy the delights of your Airbnb property.
Step 2 – What’s In It For You?
So, now you’ve decided you have what it takes to be a committed to Airbnb host, let’s see if it’s worth the while and ask the question that’s really on your mind – How much can I earn from Airbnb?
The honest truth is that it depends on a number of factors, such as:
– The demand for your area
– The size and specification of your listing
– The local amenities from your property
– The services you offer as a host
– The time of year you are hosting
Airdna is a fantastic analytics tool to help you determine the potential yield for your space. Taking information from those 4 million unique Airbnb rentals, it offers a genuine insight into where you can realistically price your property.
Let’s look at some statistics across both Single Room and Whole Property Airbnb lettings across the UK:
|Daily Average (GBP)
|Occupancy Rate (%)
Figures correct from Airdna for the 30 days previous to January 25th 2017.
It’s often best to think about your Airbnb as a business. Do some market research to determine the going rate for your area and consider what you can offer above your competition. Consider the costs to you as a host – be that in your time, cleaning products and a rise in utility bills.
Under-pricing may help to increase bookings when first becoming a host but we recommend constantly reviewing your price point to get the most out of your listing.
It is also worth mentioning here that many hosts will use other platforms, such as booking.com, to increase occupancy levels. We’ll cover that in more detail in another article. Stay tuned!
Want to become a holiday lettings guru?
We’ll send you occasional emails with awesome content that helps you make more money from your holiday lettings.
Step 3 – Things To Be Aware Of?
When letting out your free space on Airbnb, there are a number of considerations to make to ensure everything stays above board.
Whilst the complexities differ between countries and cities around the world, there are some key areas to think about before committing your space online:
- Guest Safety – Providing emergency contact details, first aid supplies and fire equipment
- Let Safety – Access hazards, guest privacy, child proofing and climate control
- Building Concerns – Building smoking, pet and noise policies, neighbour relations
- Permissions – Mortgage or tenancy allowances for subletting
- Insurance – Airbnb Host Guarantee, Liability Insurance, Property Protection
Airbnb have provided their very own Responsible Hosting Guide for hosts in the UK, covering all the boxes you will need to tick before letting out your property.
When it comes to counting your Airbnb income, your countries taxation laws need to be taken into account. In 2016, the UK Government introduced the ‘Rent-A-Room’ relief, giving hosts the ability to earn up to £7,500 tax-free when letting out a space in their main home.
For those based in London, 90 day restrictions have been placed on the short-term lettings of whole properties in a calendar year. Airbnb’s listing system takes these restrictions into account but does allow hosts to extend their allocations if they have the correct government permissions.
It’s always best to take note of local laws and restrictions on short term rentals to ensure your Airbnb lettings don’t end up getting you in hot water!
Liking the article so far? Follow us on Facebook & Twitter for more holiday lettings tips!
Step 4 – How Do I Get Setup?
Armed with the information in our first three steps, you may be ready to get setup with Airbnb. The sign up process is quite simple and may also give you the answer to many questions you still have about Airbnb.
We’re going to guide you through our simple 3 stage process to help you get your listing good to go!
Stage 1 – The Basics
Once you’ve entered your personal information, you’ll be straight into forming the basics of your listing.
Common questions you will be asked include:
What kind of space are you listing?
Which amenities will you offer your guests?
What’s the capacity of your space?
Once you’ve input those basics, it’s time to move onto Stage 2 and market your space to potential guests.
Stage 2 – Setting The Scene
With the foundations set in Stage 1, it’s now time to market your space and show off to potential guests why you’re the best place to book in with in your area!
This part of the listing is crucial to gaining regular bookings, take your time to get it right!
In this stage, you’ll be asked to:
Upload some photos of your space – we recommend using professional photography to set you apart from rival listings!
Flamingo Short Lets are experts in holiday home photography. If it is something you would like some help with, get in touch and see what we can do for you!
Think up a title for your space – make this headline as catchy and engaging as you can to entice new bookings.
Go into more detail about your space to let guests know what to expect when booking with you.
Great! Now you have let everyone know what your space is all about, it’s time to get the admin points in place so the bookings can roll in!
Stage 3 – The Administration
Now you’re listing details are all setup, you need to cover some key admin areas so that the conditions of your space are set for you and your guests.
Here you need to put your business hat on to ensure Airbnb is a viable source of income for you.
You’ll need to think about:
The rules for your listing – ensure you set clear boundaries to protect you and your space from damage and unwanted visitors.
When can you host? Ensure you only allow bookings for the times you can manage, considering work and social commitments which may impact your service as a host.
The right price for you – As we covered in Step 2 of this article, the right point to price your space depends on a number of factors. You can either set the Fixed Price you think your space is worth, or use Airbnb’s Smart Pricing feature. While limits can be set, Smart Pricing will price your space based on local demand.
Airbnb will again prompt you to consider local laws and taxes. It’s worth double checking all is in order at this stage and check out some of Airbnb’s helpful resources.
Once you’re ready to go live with your listing, hit the Finish button to put your listing up on Airbnb’s site!
Through the life of your listing, it’s always worth revisiting these stages to fine tune how your space is marketed. Try using different photography or pricing strategies to boost bookings of your Airbnb property.
Step 5 – Anything Extra I Can Do?
With your space listed online, there are a number of ways you can look to boost the performance when it comes to gaining more bookings.
If you’re based in a competitive area, try some of the following to set you apart:
- Encourage Reviews – The closer to 5 stars you can get, the better your space will appear.
- Social Media Sharing – Share your listing through over different social channels to boost the audience you can reach.
- Interior Design – A professional designer can ensure your space appeals to all tastes, boosting your potential booking pool.
- Professional Photography – As we covered in Step 4, professional snaps will set your listing apart from the crowd!
- Remember to remove anything in your home that is of financial or sentimental value. You can never be too careful!
When boosting your listing on Airbnb, experiment with different techniques to find a formula which works for your market. Before undertaking any extra push, ensure you have the capacity to deal with added demand – cancelled bookings can destroy all the good work you have strived to build up!
To Wrap Up….
When looking to get started with Airbnb, there are a number of areas to consider when deciding if it’s right for you! From having the right hosting style to your space’s pricing point, Airbnb offers a structured and simple way to let out your free space and some extra revenue.
If you’re still unsure, why not get in touch with us here at Flamingo? Our experts in property management are more than happy to recommend the best solution for your space.