By financen | November 30, 2019 - 11:16 am - Posted in Airbnb Course, Rental Services

Airbnb is an online platform that enables people to advertise their spaces for short-term rentals. The term is short for “Air Bed and Breakfast,” a nod to the co-founders’ original concept of charging travelers to sleep on air mattresses to earn money to pay for their San Francisco lease.

The hosts nowadays list guesthouses, flats, and small rooms. You can also lease just about anything through the app, like outdoor tents, sleeping bags, couches, and even boats. If you want to make extra income, consider taking an in-depth Airbnb course to become a Superhost. Also, know the answer to these four critical Airbnb hosting questions first:

1. How much will you earn?

Before you become a host, ensure it pays off. The best approach would be to enter your details in the Airbnb calculator to get a potential income estimate. You need not enter confidential information — just the city, your space, and the number of guests that you can accommodate. It will show your monthly income potential, focused on the space getting rented for half of the month, and the rates of identical areas in your location.

Next, search for similar spaces. How does it compare to your area? How can you compete with these rentals?

2. How much does it cost?

There is no charge if you are listing your room on the platform, but you will want to take into account any additional costs you could incur as a host.

Hosting Fees: Every time a reservation gets accomplished, Airbnb will charge you 3% of the earnings. Include it in the rental price. The hosting charge is worth it, as you will never find a more streamlined way to advertise your rental with competitive pricing and coverage.

Taxes: Many cities have transient occupancy tax based on your location. Build this additional cost into your pricing and match it to hotel clients who pay taxes. You may have to clarify this to every client, and you can learn the best approach for this through an Airbnb course.

Host Protection Insurance: Does your home insurance cover short-term rentals? Remember that the platform offers host protection insurance to U.S. hosts, which encompasses guest accidents, but you still have to do some research. You may need to buy a business policy that covers rental properties.

Maintenance costs: The hosts may charge a housekeeping fee for their rentals, although the service charges will always apply.

Goods and commodities: Bear in mind that you need to replenish the room, including cleaning supplies, toilet paper, etc. — after every booking.

You will probably need to know how much cash you need to spend on the space before listing it. The area might need a new coat of paint or a new batch of tiles. Pick up some ornaments or potted plants, too.

3. Is it legal?

Before becoming a host, check the State’s short-term rental laws on the official website. In certain cities, you need to register, get a license, or obtain permission before listing the estate or accepting guests. Other forms of short-term stays may be illegal, and state governments can differ in the manner they enforce regulations. Consult with your homeowners’ association, your landlord, if you are a tenant and your neighbors. If you are authorized to lease with Airbnb, ensure you politely remind your visitors to be mindful of your surroundings.

4. Can you meet the host requirements?

  • Airbnb specifies the five essential responsibilities that you should meet.
  • Supply the necessities, namely tissue paper, shampoo, sheets, and at least a towel or pillow for each visitor.
  • Be receptive to your prospective tenants, reply to accommodation inquiries, and requests within 24 hours.
  • Accept booking requests if you are available.
  • Minimize cancelations.
  • Maintain an excellent overall rating.

If you could answer the four essential questions, you are now ready for an in-depth Airbnb course to be on your way to becoming a Superhost. If you have any other concerns, the platform provides a 24/7 support line for hosts, so contact them if any issue comes up.

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By financen | November 20, 2019 - 5:44 pm - Posted in Rental Services

Have you just joined the Airbnb bandwagon? Are you looking for ways to increase the gains of your short term rentals? Being an Airbnb Superhost is a sure-fire method of growing the profitability and marketability of your properties.

What is the program?

Since 2016, Airbnb has awarded the Superhost status to hosts who have earned an excellent reputation in their online platform. This recognition gives hosts an edge over their competitors by suggesting them as top picks for potential guests.

They can also sometimes appear in advertisements, thus, providing higher visibility rates and traffic at the host’s page. It was reported that those who have given this status are experiencing 60% more revenue per day and an 81% higher rate of occupancy than regular hosts.

Requirements to Become a Superhost

The host should accept an average of ten bookings for short term rentals a year. It’s an indication that the property has high marketability.

Another criterion is the response rate of the host. The host should make it a habit to respond to potential guests promptly and maintain a 90% response rate.
The response rate matters because it shows that the host is professional and serious about addressing the concerns of guests. It also requires that the host receive 5-star reviews from at least 80% of guests who have stayed in the property.

Further, the host should have a good record of confirmed reservations. Hosts who cancel bookings often regarded as unreliable. Canceling bookings, especially at the last minute, can cause hassle for the guests. It might also turn them off from using Airbnb.
The platform conducts the assessment for the program every start of January, April, July, and October. If approved, a Superhost badge will automatically appear at the page of your listing to indicate your VIP status. A host can gain or lose this status if she/he could not adequately satisfy all of the requirements.

How to be a Superhost

Two of the essential qualities that guests are looking for in a host are reliability and honesty. Because much of the requirement depends on the satisfaction of the guests, make sure that you set the right expectations for them.

It can easily happen by providing accurate photos of the property’s rooms and amenities. If there are any concerns with regards to the place or the living arrangement, inform them upfront.

If you’re employing the BNB Formula of handing many properties all at once, make sure that the landlord is aware that you have an Airbnb guest over. This way, the guests will not become placed in a compromised position.

To make yourself more agreeable to them, be available to answer their inquiries or respond to their needs. It also helps if you place some personal touch like leaving a simple note on their desk or giving them a welcome drink upon their arrival.

You can also courteously invite them for a meal if you have the time. Lastly, make it a point to leave reviews to your guests. Doing so will encourage them to give you positive feedback, as well.

Boosting your short-term rental services takes a lot of hard work and consistency. However, the payoff is more than adequate to compensate for the effort that you will be exerting.

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