When your full time job does not pay enough money, you tend
to look at all the means to make money. When you feel that the extra room you
have at your house and unused asset. Then Airbnb is your answer.
The online market place for vacation rentals might fulfill
Airbnb is the online marketplace for house rentals and users
can list their properties for vacations and short stays. The company began in
the year 2008 and headquartered in San Francisco. Airbnb along with Uber are
the pioneers of “sharing economy”. The company was founded by Brian Chesky and
Joe Gebbia with the idea of airbed and breakfast.
At present the service is available in 26 languages and
presence in 191 countries and 34,000 cities. The company has 2 million property
listings on its site providing its users a huge number of choices in terms of
place and prize.
Despite having such a huge number of listing on its site the
company does not own any property and just acts as a medium. For being the
platform of interaction the company charges a part of money earned by the
property owners as service charge
However, before you decide o rent out a part of your property
you need to be aware of the risks and rewards associated with it.
How to carry out
listing on Airbnb website?
First you need to decide at what6 price you are going to list
out the property. You can go through the rates of other similar properties
listed in tour locality to get a fair idea. You have to consider the cost of
hosting: like cleaning up the place, maintaining utilities etc. Make sure you go through all the Airbnb
hosting safety standards. The website charges 6 to 12 percent as service
charges for getting you connected with a guest.
While uploading your property details, clean and give the
exact picture of how you are going to make it available for the guest. Airbnb
will send a professional photographer to take a shot of your space if you are
While listing out details try to make it as unique as
possible. Provide additional facilities like free Wi-Fi etc. Try to add in
details like where it is located, if the place is close to tourist spots or
Permits and taxes
You need to have legal permission before renting out your
space for Airbnb. If your property comes under the house owner’s association or
co-op, then check rules with them to make sure you are not violating any
regulations. If you are someone living on rent, then you need to have the
permission of your landlord.
Apart from this in certain places there is a necessity to get
business license to rent out property. You may need to pay additional taxes for
renting out properties. For example, transient occupancy tax is necessary in
certain places similar to what hotels pay.
You may also need to pay federal taxes which you need to
specify in your IRS form.
Are you fine with renting your property to a stranger? If you
rent out home and don’t stay, there you need not worry about physical violence
but have to take care of protecting your household things.
Things get riskier if you rent out the part of home where you
stay. You need to take care of your personal safety. You can see the reviews
from previous hosts and also Airbnb checks their governments IDs. You can see whether
they are connected on Airbnb with their facebook account or LinkedIn account to
give a better idea of who the person is.
Apart from this you can also decline any reservation if you
feel insecure regarding the guest. Of course the company will charge penalties over
you for doing so. But everything comes before personal safety.
The website also instructs on the safety precautions that
have to be part of the home. A property with no proper safety measures can be
reported to Airbnb and also you will get lower ratings which will start
declining the guests you receive. Some of the basic equipments is smoke
detectors, fire extinguisher etc.
Airbnb offers insurance to both the guest and the host with
certain limitations this can in their official site.
The guests are not going to stay and leave without paying
cash. Airbnb takes care of this and transfers the money mostly within 24hrs of
the arrival of the guest.
More options available to make money through Airbnb
Airbnb has started a program where city guides can be
Any traveler would like to experience a destination’s local
food and culture. However, this requires an experienced local guide who can
show the best of the place. Getting a guide after reaching the destination is a
tough task. That is why Airbnb provides an opportunity to connect with local
guides through its platform.
It is opportunity for the local guides to earn extra money as
it has millions of people on its platform which can provide the opportunity
like no other stream can do.
So apart from just being a rental site the company is trying
to make an effort of moving as a single platform for all the tourist needs.
How to become a super host?
To improve its standard, the company provides super host
badge to hosts who provide special services to their guests. It also rewards
them with the badge and provides a chance to increase their bookings and earn
The following check points are issued for the hosts to bag
the super badge:
at least 10 trips on the listing every year
response rate to the guest must be at least 90 percent
percent of the reviews should be 5 star
The host should provide confirmed reservation there should be
minimal amount of cancellations.
Becoming a super host will bring in more guests and naturally
Anand Rajendran is the
Co-Founder and CEO of Zuket. He is a writer and coffee lover. He has is a
graduate in Computer Science and Post Graduate in Entrepreneurship and
leadership from Ulyanovsk State University, Russia. He is a passionate blogger
& SEO Specialist. Zuket is a Software Development company which has
launched Trubnb Script which is an Airbnb Clone
Script with Mobile