Get creative when designing the new space
One of the most important aspects to consider when setting up your Airbnb home is not just the photographic aspect, but the physical aspect as well. Your home should be inviting and give a powerful sense of comfort and welcome to those who book a stay there. It should also be accessible to tenants of all ages and abilities. Focus on a design that appeals to all generations and to people with mobility issues. This will allow you to rent to more people in the long run.
When it comes to appearance, interior design is based on the same principles as other art forms, including photography and painting. Understanding proportions can go a long way in creating a stunning and inviting space, and implementing the rule of thirds will allow you to create a beautiful and interesting living space that shines, both in the photos you use to create your ad and in person. The possibilities are endless when designing your Airbnb rental, and they give you the opportunity to really flex your creative muscles in a way that will generate profits.
It's important when designing a living space for paying guests to not just focus on the room they'll be occupying, but the entire space. While you absolutely must make sure the room is spotless and inviting, the kitchen, bathroom, and living spaces are also key elements of a successful Airbnb and should not be overlooked. When guests stay in your Airbnb, they should feel right at home; whatever they decide to do during their stay should be as easy as possible for them.
Making sure you're getting the most out of your Airbnb
Becoming an Airbnb host is a great way to get an additional source of income. However, after the initial investment to remodel and beautify your home, there are other factors to consider that can affect how much money you'll actually generate as an Airbnb host.
Now you've set up your space as an Airbnb and made sure you're in compliance with all local laws and regulations. The next step, setting your price, is arguably the most important. While Airbnb itself recommends rates per night for your listing, you can always exceed or undercut this recommendation based on the rates of similar Airbnbs in your area. If your home has easy access to public transportation, unique features such as pet-friendly or private backyard use, or is located in a highly sought-after neighborhood, you'll find that you can potentially charge much more than you thought.
Once you've set your prices and fees, there's still the matter of ongoing costs associated with hosting an Airbnb. While the cleaning fee offsets the cost of professional cleaners, there are still toiletries and kitchen essentials that you will need to restock regularly. One of the easiest ways to figure out how much money you'll make is to use a cash flow calculator that takes into account the profits from your Airbnb with all the other sources of income and expenses you have.
How to deal with bad hosts
Hosting an Airbnb is a great way to not only earn extra money, but also meet interesting people from around the world. Unfortunately, not everyone is a great Airbnb tenant, and if you've renovated your home to act as a host, you'll want to protect your investment.
Screening Airbnb guests before they stay is the best way to avoid damage to your property, theft, and personal safety. Airbnb has a great tool built into the app to screen potential hosts, but there is absolutely no harm in doing some research on your end to make sure the person is who they say they are. Social media is a fantastic way to verify a person's identity by seeing how many connections they have and checking to see if they seem valid or if they give you the wrong impression.
It is completely normal to decline rental requests for a variety of reasons, including inability to arrive during the check-in period or simple scheduling conflicts. If you discover that a potential guest harbors racist beliefs or openly posts hate symbols on their social media, you have every right to deny service, but if you simply don't like the number of tattoos they have, you could get into legal trouble by refusing to host them for that reason.
Hosting an Airbnb can be a fun, exciting, and cost-effective way to use the extra space in your home. By taking the time to go the extra mile in design, you can attract the right guests and increase the overall value of your rental. Now get out there and start making money!