In order to learn how to start an Airbnb business, it’s important that you understand some important aspects of how people make money on Airbnb. Here are some tips to keep in mind before you get started on your listing.
Tips on how to start an Airbnb:
- Know what your rental is worth per-night.
- Keep Airbnb service charges into mind.
- Don’t overbid any of your competitors.
- Take lots of great pictures of the space.
- Provide honest descriptions and customer service.
In order, to help you with starting an Airbnb and pulling in some serious profit, we will cover each of these things below.
Step #1: Research the Market
The first thing you need to do while you learn how to get started with Airbnb is to do some research. When done right, this will help you massively later on when you are busy handling clients and bookings.
Find All of Your Competitors
The first thing you should do is navigate to Airbnb and find all the property listings that are directly competing with you. To start, simply acknowledge the pool of competition that you have, and think of why they may stand out to potential clients.
Compare Amenities, Locations & Prices
In order to help you with starting an Airbnb, you need to first learn how to do it effectively. With each of your competitors, compare the amenities they have, where they are located, and how much they charge nightly.
Determine What Your Price Will Be
Once you have a general idea of what your competitors charge, along with what makes their properties unique, you will be ready to set a price for your vacation rental.
Step #2: Handle Your Finances
It isn’t as easy as creating a listing to learn how to start an Airbnb. There is plenty of homework that you need to do before you will be ready to start reaching your goals.
Determine What You Need to Pull in Each Month
There is no sense in having a goal of some sort if you don’t know what you want in order to reach it. Right now, your goal might be to make some decent income with a vacation rental. Name what you want. Using your research from above, you should also keep this realistic.
Plan How You Will Clean & Manage the Property
Although collecting checks from your guests will be a great benefit, one of the drawbacks to starting an Airbnb is the constant cleaning hassle. Plan for this in advance. If you want to hire a cleaner, then inform them that their working days will depend on when you rent out the place.
Finally, consider hiring an Airbnb management company to handle tasks such as listing, marketing, guest questions, and so on for you.
Get All the Latest Airbnb Host Tools to Make Your Life Easier
In order to save some time while handling things on your own, you should always keep up with the latest Airbnb host tools. There are tools to help you with things such as analyzing your competition, set your pricing, send automatic messages, and use the same online tech tools popular among Airbnb users.
Take Lots of Professional Photos
In order to generate good results from your listing, it’s important that you have lots of high-quality pictures for your customers to see in advance of booking. Customers who get confused about what the rental looks like or more likely to book someone else.
If you need to get professional photography done, you should consider hiring a professional management service like Whome. One great thing about a service like this is that they offer professional photography as part of an all-inclusive and hands-off package deal for managing your rental.
Step #3: Create Your First Listing
This is the time you’ve been waiting for. With your basic homework out of the way, you are now ready for starting an Airbnb business. Let’s break down some of the basics that you need to order to be ready to secure your first bookings.
Create an Airbnb Account
(picture taken from Airbnb account signup page linked below and is on the drive doc)
If you haven’t already created your own Airbnb account, then head over to the Airbnb account signup page. From there, simply enter some basic information, or log in using the information stored in your Facebook account.
Fill Out all of Your Rental’s Information
After creating your own account, you will be prompted to fill in the information on your rental. This will include basic information such as the number of bedrooms, type of property, and the exact amenities that you offer. You should also have some pictures of your property ready to upload by now.
Create a Stellar Listing
You won’t be able to get up off the ground without a nice listing and some great reviews. If this is your first listing, you need to make sure your listing stands out. Here are some tips to help you out along the way.
- Take lots of professional photos.
- Ensure the whole property can be seen.
- Complete each section of your listing.
- Do a great job describing the amenities.
- Respond positively to all public reviews.
Be Ready for First Responses & Reviews
Once you get your first listing, most of the trouble you have learning how to start an Airbnb will come with getting your first set of good reviews. As long as you took the time to take good pictures of your property, and describe it well, you will eventually get your first listing. Make sure to do what is necessary to get a good review, since this will soon help you find more clients.
Major Points & Summary
Learning how to start an Airbnb business can be difficult as a complete beginner. At the end of the day, though, anybody who makes sure to do their homework set realistic goals, and get good reviews will be able to succeed on Airbnb. If you need some help managing your listings and generating your desired income, consider hiring assistance.