Is your salary less than expected? Are you trying to get rid of your accumulated debt quickly? So let’s ask you the question. Do you have a room in your home that you do not use? You’re not home because you travel so often. So do you have a living space where you pay unnecessary rent?
So short-term rental service Airbnb can help you solve your problems. In this article, we will share the risks and benefits of renting your house by using this service.
Preparing the place to rent
First of all, you need to determine your living space, time and income expectation. You don’t have to pay a fee when listing your home on Airbnb. Moreover, you can choose your potential guests yourself. When determining your price, review the rental costs of houses around you. Don’t forget to reflect on the cost of accommodation, such as cleaning, invoices and taxes. Keep in mind that Airbnb is also receiving 3 to 5% commission from homeowners.
You should provide your guests with accurate information about your location for customer satisfaction. Communicate well with your guests, fulfill your reservation commitments. You have to make sure that the place you are renting is clean and that you provide basic home requirements such as soap, toilet paper.
After cleaning and arranging a place to rent, take a few nice pictures. If you are an active host, Airbnb sends a photographer for free. This way, professionals take pictures of your living space. When you provide information about the location of your home, consider what makes it special. Look at the place you give to rent as a guest. Is it within walking distance of public transportation? Do you have great restaurants, night clubs or cultural venues around your place? What are additional services like wireless internet, fully equipped kitchen, cable TV or terrace? It is for your benefit to make clear all of these details. You can also advertise your place on social media or your own website.
Receiving and paying taxes
You may need permission before listing your location in Airbnb. If you live in rent, you must obtain the consent of your landlord.
You may also need to obtain a business certificate and pay taxes on your income. For example, you may have to pay the same tax that hotels pay. You should read more about Airbnb’s regulations.
How safe is it to rent your home to a stranger? If you are renting the place where you live in a period where you will not be at home, there is no danger of physical violence. But you have to find a safe place to keep your valuables. Your wedding dress, your grandfather’s leftover items, photo albums, cash, etc. It’s perfectly normal to want to secure these things. Eliminate the possibility of stolen your belongings or official documents.
If you live there and you rent a part of your house, things may change slightly. You can directly observe whether your items are safe. But this time your guests may be dangerous people. You may be physically threatened. It is not possible to check if there are criminal records before your guests arrive. However, it is best to get some insight on the internet by gathering some information about them.
Previous comments made about guests can help you. You can cancel a reservation at any time. But in some cases, Airbnb has been punished. You also can rent your home to guests who have just passed the Airbnb’s reliability test. Both landlords and guests share their credentials or their personal accounts, such as Facebook, LinkedIn, with Airbnb. This way, they can complete the reliability test.
Airbnb offers instructions for security to homeowners. There should be little that would jeopardize the health of guests in your home. In this way, the less risk of being sued. If you don’t have a fire alarm, smoke detector at home, guests can give you low points. If you are a negligent host, Airbnb may prevent you from renting your house.
Let’s talk about insurance. Airbnb is covered by insurance for damage to goods in many countries. However, it does not promise to protect the stolen goods. Make sure your own home insurance will protect your belongings.
You may ask for a security deposit to compensate for possible damage. It is very important that you examine your belongings after each guest leaves. So, you can find out which guest is causing damage and you have the opportunity to search for your right. You can document any damage to your belongings with photos. Airbnb will ask you to solve the problem directly with the guest, without first applying to the legal process.
Guests pay through Airbnb. If there is no cancellation, Airbnb will send the payment after a maximum of one day.
For those who think there is a problem with the house and requesting a refund of their payment, Airbnb will be notified within 24 hours. If you do not respond to guests who are trying to contact you about a problem, the situation may get worse. They can terminate their reservation and receive a certain amount of refund.
Do not cancel your last-minute booking at Airbnb. Don’t forget to leave the key. Don’t give wrong information about your home. Do not leave your home dirty and clean. In short, if you are unable to meet Airbnb’s hospitality standards, Airbnb may ask you to return the money to the guest. It will be best for you to be available for the first 24 hours from the time you rent your house. When you provide information about your home, be sure to specify how many bedrooms and bathrooms you have and that you have correctly described the rooms. If you will give guests sheets and towels, clean them thoroughly. You should also indicate whether there is an animal in your property.
If you make a deal with a guest outside the Airbnb website, you may get in trouble. The guest may be refusing to pay the guest fee. In addition, your guest may refuse to use the system as you are planning to cheat. It is most accurate to use this secure system because the home rate is only 3%. You can be swindled as you try to get rid of a minor outage. Also, if you are caught Airbnb may not want to cooperate with you again. So, you better not stop using the system.
Years ago, no one will think of additional income methods are now used by many people. These opportunities require you to be informed about the laws, to secure your belongings. Airbnb is one of these opportunities. And if you’re willing to risk it, you can earn thousands of dollars a year.