Could you do with a little spare money? Do you also have a spare bedroom in your flat? Well, have I got the perfect idea for you…
Have you ever considered becoming a Airbnb host? If you have ever travelled abroad over the past five years, then I’m sure you will have heard all about Airbnb. It’s a website that lets locals rent out their spare bedrooms or entire apartments to travellers staying in their area. It’s a great way to make a bit of extra cash from any empty bedrooms you might have.
Don’t worry, though; you won’t have to give up your main job to become a host. It’s actually a great moneymaker that will easily fit into your free time. You just need to make sure that you are around when the guest checks in so that you can give them their key and show them around, and when they check-out so that they can return your key. You also don’t have to be worried to tied to being a host either – you can take your accommodation offline whenever you want a break from your hosting duties.
So, think that being a Airbnb host could be a easy way to earn a second income? Here are some useful tips that will help you get it right.
Consider Renting Your Entire Apartment When You Aren’t Around
Renting out your spare room can earn you a decent side income, but it’s worth thinking about renting out your entire place whenever you are away yourself. You will find that you can make a considerable larger sum of money when you rent out the whole apartment. There is just one downside to this, though, and that is that you won’t be around to help out the guests if they ever run into any trouble in the apartment. So, it’s always a good idea to give them the contact number of one of your friends who would be happy to help them out in an emergency.
Decorate Your Room
First of all, if your spare room is looking a bit dated and the decor could do with some improvement, you should consider redecorating it completely. Anyone who comes to stay in your home will want to feel relaxed and find a contemporary style in their bedroom, and decorating can help you achieve this look. Plus, it ensures that your guests have a good first impression of their accommodation. If you are thinking of renting out your whole apartment, then it’s worth redesigning or redecorating the whole place. Don’t panic, though; you don’t have to do all the work yourself. You can learn more about companies that specialise in renovating apartments by checking online. It’s definitely worth doing, though, as it will increase your reviews on the Airbnb website.
Take Professional Photos
You will need to add plenty of photos of the room to your Airbnb profile so that anyone viewing it can get a really good idea of what it will be like to stay in. Generally speaking, the more photos you have online, the more bookings you will get. But it’s not always about quantity over quality. It is also necessary to have some really good quality images. Ideally, you should get some professionally taken by a proper photographer. If that sounds a little too expensive, you might want to think about investing in a DSLR camera as these will take much better photos than what your smartphone can! Ensure that the room is well lit when you take your pictures so that potential guests can get a good idea of the size of the room, what it looks like, and everything that is in it. Only put the photos up once you have got a flattering shot.
Take Out Some Insurance
It’s also super important that you take out plenty of the relevant insurance on your apartment. After all, you never know exactly what kind of damage some guests might do. I’m sure that the majority of people who stay with you will be very respectful of your property, but that doesn’t mean that everyone will. You could be unfortunate to end up with a guest who causes some damage. If you have some insurance then you can at least rely on that to cover the cost of any repairs.
Aim For 5-Star Reviews
If you want to make sure that your calendar is booked up with plenty of bookings, you should endeavour to get as many five-star reviews as possible on your profile. There are certain things you can do to try to ensure this, such as leave some essentials in your guests room. People will really appreciate having their own kettle with teabags and coffee so that they can make a drink as soon as they arrive. Alternatively, you should let them know that they are allowed to use your kitchen. It’s also a nice touch to leave them some complimentary toiletries, such as shampoo and shower gel. These generous additions will stick in people’s minds and they will be a lot more inclined to leave you a really good review on the website.
Take Tax Into Consideration
If you do start to make quite a sizeable sum of money from your Airbnb room, you might have to start to pay tax on it. That’s because your income will have increased as a result. Unfortunately, there is no way of getting around this, and you will need to pay the tax. If you are confused about doing your own tax return and adding this extra income onto your full-time salary, you might want to speak to an accountant. It is really important that you sort your taxes out early on. Otherwise, you might end up in the tax man’s bad books – and that can work out very expensive!
Being an Airbnb host can be great fun and very lucrative; why not give it a go? You might end up very surprised by just how much money you can make!