The internet offers many different platforms for folks to make extra money. Thanks to Uber, you can start your own “taxi-like” business to transport people in your neighborhood or city. Users can work when they want and accept business as it comes. Likewise, Airbnb is to your home, as Uber is to your car.
Airbnb allows anyone with extra space in their home to rent out on a nightly basis on the company’s platform. The streamlined website walks you through the process helping to price your room or apartment, manage your calendar, verify your credentials, set up your payment methods, and even negotiating a security deposit. All for a 3% host fee.
However, before opening up your personal home on Airbnb, you need to take a few things into consideration that will keep you safe and give you a good experience. The Airbnb website gives the following tips:
Interact smartly
Always pay and communicate on Airbnb. Use Airbnb’s messaging system to get to know your guests and share expectations about the trip or your space.
Read profiles and reviews of your potential guests, and look for verified phone numbers, connected social networks, and references. If potential guests don’t have any profile verifications, you can ask them to complete some.
Trust your intuition: If you don’t feel right about a reservation, don’t accept it!
Fill out your House Rules, Home Safety Card, and House Manual
Completing your house rules and house manual helps guests know what to expect. Include anything you’d like people to know before they book—for example, whether (or where) smoking is allowed, whether certain areas are off-limits, your Wi-Fi password, or if guests should take off their shoes before coming inside.
If a guest encounters an urgent or emergency situation, it’s important they know who to call, what, and where to go. To help make this information clear and easy to display, all hosts will see the option to fill out a safety card online in the Home Safety tab of their listings. This card includes important information that hosts can provide guests, like emergency phone numbers, locations of fire extinguishers and fire alarms, and emergency exit routes.
Make sure you’re insured
Airbnb’s Host Protection Insurance program provides primary liability coverage for up to $1,000,000 per occurrence in the event of a third-party claim of bodily injury or property damage related to an Airbnb stay.
You may also want to talk to your insurance provider about adding an extra layer of protection with your own renter’s or homeowner’s insurance.
Set requirements for your listing
You can require guests to complete certain verifications before they book, such as Verified ID.
Adding a security deposit to your listing can also help protect you in the event of an accident, like spilled wine on a rug.
Remember: In an emergency situation, or if your personal safety is threatened, contact local police or emergency services immediately.
Hosting can be a great experience, but it may not be right for everyone. If you have a property other than your personal residence that you plan on leasing over a long-term basis, we recommend using a property management service, such as the one that Swann & Associates provides, to handle the ins and outs of leasing out property. For more information on how we can help you with your rental property, contact us today!