10 things to consider before you host on Airbnb

StorTown-Blog2While it is an exciting time for guests, Airbnb can be slightly overwhelming for many new to the idea of sharing your home with complete strangers. It is for this reason that we have decided to take a deeper look into Airbnb preparation, exploring a range of things to consider before you even list yourself as a host.

Understand Rental Arbitrage

Rental arbitrage is the underlying market force that makes short term renting possible so it is important to know what it means to speedily assess how suitable your area is for you to host on Airbnb.

What Kind of Host Would You Like to Be?

Consider what you want to get out of hosting, whether it is to make a few extra bucks, gain a stable source of income or build a serious Airbnb business. The more income potential you desire, the more work you’ll have to face.

Have Realistic Time Commitment Expectations

It takes some time to chat with potential guests who will more than likely have some questions before they are willing to book anything, so don’t expect to list your space and watch the money immediately roll in.

Prepare Your Home Accordingly

Getting the right insurance or finding a storage unit for your valuables is vital, so be sure to consider your options with regards to safeguarding your belongings. Book a self-storage unit here and say goodbye to the stress of possible damage or theft.

Consider Your Neighbours

If you are living in a quiet community with sensitive neighbours it is exceptionally important that you form a good and honest relationship with them before listing your home on Airbnb. An upset neighbour could essentially ruin your hosting dreams.

Get Approval From Your Landlord

It could be the end of the road with Airbnb if your landlord forbids it, but it is still important that you get his approval to avoid any issues with them in the future.

Find the Right Customers

Maximise your odds of success by finding the right customers that are suited to the position of your unit. This means knowing whether it is convenient for a business traveller who will need to be close to your area’s business district or for holidaymakers to easily access your area’s sights.

Know Your Competition

It is unlikely that you’ll be the only one looking to benefit from Airbnb, and the more you know about the competition in your area the more you’ll understand what your guests are looking for and what may not have been offered to them by others.

Do a Sanity Check

Do a sanity check with the figures to ensure that you do not waste any time or money. Evaluate any potential listing before spending any money or committing to any kind of lease agreement. See just how much you could make here.

Position Your Listing for Success

It is not enough to simply list great pictures and descriptions of your space, with great success only coming to those that differentiate their listing from competitors and offer value to their target customers.
Enquire now for a small unit, and you will receive your First Month’s rental for Only R1.(T&C’s Apply).

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