Airbnb is a very functional paid house and room renting app. You can either stay at local people’s houses during your travels or rent out your own house. Those who want to stay have to pay you an amount of money. That way, it is possible for you to earn money easily just by renting out your house with Airbnb. Here are some tips to make money on Airbnb by renting out your house. So what do you have to do to rent out your house?
Renting Out House and Earning Money on Airbnb
You can earn a considerable amount of money by renting out your house with Airbnb. Especially, if your house is in central places and close to touristic locations or it is in an area which you can easily go to these places, it is almost impossible for your house to stay empty. So how to start make money on Airbnb ?
Signing Up to Airbnb
You need to sign up to the system before you start renting out place with Airbnb. You can easily sign up by following the steps that I wrote below and clicking this link. After you open this link, you will see a screen like this:
Start filling the information with your house type. You need to state the type of your renting in the room type part. If you have a furnished house that you don’t use, you can rent out the whole house or you can also rent out a room from your house which you are currently using. Similarly, it is possible for you to rent out the shared areas. Continue to the next page after you enter the number of the people who can stay in your house considering your place’s capacity and the city which your house is in.
You can continue according to the instructions that come after you select your way of register in this new page. If you don’t want to deal with the e-mail address process, you can complete your registering by connecting your Facebook or Google account.
Starting Renting: Adding a Post
After you create your account, first thing you need to do to rent out is to create a page for the place you will rent out. Creating a page for the places that you rent out in Airbnb is called “ “. We started to create our post in the previous step. Now, we need to complete our post by adding the detailed information. After you complete the previous steps and login the website, click on the “Hosting” button which is at the top of the website and start to complete your post.
By clicking the “Complete Your Post” link, you will arrive the interface that you can enter the information about the place you rent out.
First Step: Enter the fundamental information about your house
After this step, Airbnb will help you with detecting the basic information about your place by asking you some questions. Are you renting out your whole house or a room? How many people can stay in your place? Will there be private room for your guests? Is this room a place that is arranged only for your guests or are there your belongings in the room? Is there a private toilet in the place that you rent out? How many beds are there in the house or the room? What is the full address of your place?
Second Step: Upload the photos of your house
In the second step, you can start uploading the photos of your place. If there aren’t any photos yet, it is possible for you to skip this step for now. The photos that you are expected to add are the ones that can create the right impression about your place. That means, it is quite important that you add the photos of the room you rent and the bathroom that your guests will use. To do better, you can also upload the photos of the shared places like living room, kitchen to make your guests feel at home. You can check out the part about the photographs in my article which is titled “Tips on Earning More Income on Airbnb” to look at the tips about photographs and to learn how to take photos in order to attract more guests.
After you upload the photos, you need to write a short text that will give fundamental information about the place to your guests before giving them the details. While writing this text, make sure that you write a summary of the information that you think is the most important.
Choosing a Post Title
After the summary part, the system will ask you to choose a title. It needs to be maximum 50 characters. This title will be the first thing that people will see while they are searching. Because of that, it is better for you to write the title after you detect the most important thing about your house that will make it more preferable.
For instance, if your place is near to the airport you can write “Private room 5 minutes away from airport”. You can also write a title like “Private room 2 minutes away from Taksim” if your place is near to the central places which will affect the tourists’ decisions. Also, you can add features to the title that you think guests will be interested in. To exemplify, you can create a title like “Private room 2 minutes to Taksim+wifi+breakfast” or “Bosphorus view room”.
Third Step: Options of Accepting Guests
After you write the information about your place, now it is time to the options of accepting guests. Airbnb makes it obligatory to receive specific information and approve definite conditions before each reservation, in order to make the users feel comfortable.
For the people who want to make reservation in your house, it’s obligatory for them to get their e-mail address, phone number and payment information confirmed. Similarly, your guests must accept the rules about your house and inform you in terms of Airbnb’s obligations.
Besides the obligations that are adjusted by Airbnb, you need to set rules about the people who will come to your place. By doing this, you become the only one who has a voice about the guests you will host. At the third step, you adjust the rules about your house.
Necessities to Make a Reservation
As I said before, Airbnb makes the confirmation of some information obligatory. So, the people who will make reservation for your house have to confirm their contact information, provide detailed payment information and tell you about their trip in detail. The people who see your post and meet the requirements, will send a message to you after choosing the days that they want to stay. When someone send you a request, you have 24 hours to approve or reject before getting any punishment. You need to evaluate the message by giving preapproval or rejecting. You will get an informing e-mail and a SMS if the guest you approved makes a reservation.
What is the “Instant Reservation”?
The user who wants to rent can’t make reservations without your approval unless you choose the opposite. That means every reservation request will be evaluated by you. You can approve the ones you want or reject the others. Maybe you have seen that there is blue coloured text which says “I don’t want to evaluate every request.”(?) . If you don’t want to evaluate each request one by one, you can choose the “Instant Reservation” option that enables guests to make their reservations directly.
Advantages and Disadvantages of Instant Reservation
“Instant Reservation” option will greatly reduce the work load on your shoulders. By choosing it, it won’t be necessary for you to evaluate and approve each reservation and also, you will not have to feel stressed about missing the 24-hour time. When this option is activated, your post will be seen at the top places. Instant Reservation is an option that is mostly chosen by the travelers that are in difficult situations or needs a place to stay at that moment. Therefore, you can get reservations more frequently.
But this also means that you may get many last-minute reservations. Airbnb applies the standard procedures unless you state otherwise. The users whose e-mail addresses, phone numbers and patterns of payment are confirmed can make instant reservations. This means the people who have just opened their accounts and don’t have any profile photos or explanations in their profile can also make reservations to rent your house.
The good part is that, Airbnb allows you to add extra requirements. You can set conditions for the quests that will make instant reservations to get their passport information confirmed or to get positive reviews from their previous hosts.
Reservation and Housing Time
At the third step, Airbnb offers you to make a choice about the time of reservations and housing. It is possible for you to choose when they need to make reservations before their stay, entry and exit time, minimum and maximum numbers of the night for their stay.
Keep Your Calendar Updated
One of the most important details in Airbnb is to keep your calendar always updated. The reservations that has been made, will be automatically noted in the calendar. But you need to close the days that you are not available to host a guest. After you complete your post, you can prevent them to make any reservations on unavailable days by reaching your calendar, which is in the “Calendar” tab on your home page, and choosing the days you are unavailable.
Pricing for Housing
Airbnb offers different pricing options for the housing. The first thing you will decide is what kind of pricing you want. Do you want to determine a fixed price or a price that will change according to the demand? If you choose a fixed price, the price will stay the same. On the other hand, the system will want you to decide the minimum and the maximum amount of the housing price if you determine the price that changes according to the demand. Then, it defines the average price by looking at the similar posts’ pricing and the demand for the area considering the price range you have made. This price shows a change according to the demand, season and the similar posts in the area.
For example, let’s assume that you define minimum as 60 and maximum as 150 Turkish Liras. Your housing price may be 65 or 140 considering the other posts’ pricing in the area and the demand. From this point of view, it will be better for you to determine a changeable price.
Weekly and Monthly Discounts
If you wish, you can offer weekly or monthly discounts for your guests who want to stay longer at your place. This way, your chance to be preferred will increase.
After you complete your post, you can adjust the additional charges for your guests in your post’s settings. You can ask for extra charge for each additional guest, cleaning pay and deposit to cover the loss in a possible situation.
Things You Need to Know about Hosting
You will do all your activities about hosting by using the “Hosting” button in the homepage, after you complete your post. You can reach all of the messages that are sent for you and the reservation requests from your inbox. Present reservations can be seen in the “Reservations” tab. You can check your calendar and make your arrangements like blocking or unblocking the days you want in the “Calendar” tab. “Posts” tab is a tab that you can see the posts of the renting places in it. In here, you can see all the information about your post and arrange them. If you want to rent out another place, you can create a new post.
If you are renting out with Airbnb, don’t forget to read my article in order to earn more money: Tips on Earning More Income from Airbnb
Hosting an Experience
In addition to rent out room or house, you can also host an experience on Airbnb. For instance, if you are a yoga teacher, you can organize a yoga event. Horse riding, concerts, bicycle riding, city tours are only a few of your options.
Language of the Website
If you have noticed, the website interface is in Turkish. Even if you don’t know any other language, it is easy for you to rent house on Airbnb because of Turkish website interface and system that translates automatically every message that is sent to you. Users can easily translate the contents, which means the statements that you write in Turkish can easily be understood by foreigners. Moreover, translation also involves messages. For example, when someone writes you in Russian, you can translate that message into Turkish with just one click. Likely, the one whom you are messaging with, can easily translate the messages you send into their native language.
Hope this post helps you to make money on Airbnb and enjoy it! Click here to follow me on instagram!