If you are thinking about starting your own Airbnb, you’ve come to the right spot. Initially, the thought can be intimidating: decorating, cleaning, scheduling and advertising. As with all big projects, you just have to break it down into pieces and work your way through the process.
Airbnb does offer a referral program. By using my link, both of us will receive a sign up bonus. That’s an extra $40 in your pocket just for signing up!
Buying your property
For this article, we are assuming you have already purchased your property. Because Airbnb options are so varied, this property could include land (camping), a condo, or a house. The choice is yours.
Theme
A very popular trend in the lodging industry is to have a theme. There are two branches of this. One, a general theme, as categorized on the Airbnb site, pertains mainly to the location and/or style of the home: beach, mountains, castle, etc. The second branch is the vibe inside the home. Here’s an example. You might own a 1960s home and it might be completely gutted, remodeled and updated to feel like it was bult five years ago. On the other hand, this 1960s home could be in its original splendor. By adding period furniture, you now have a midcentury modern Airbnb versus a typical home.
Themes typically come from an interest you have. Guests can feel your passion through the extra special touches you add.
Setting up your calendar
One of things I really like about the Airbnb app is that I can block dates without a penalty, fee, or questions. Our family enjoys staying at our Florida condo as well as friends and family so this option is a must.
You’ll want to know your short-term rental market pricing, so your calendar stays full all while maximizing your income. The Airbnb app does give daily suggestions based on the area and the size of your home. You are able to set individual days to specific amounts based on holidays, high/low seasons and events.
There is an additional setting that allows you to discount the nightly rate a day or two prior to help grab those last-minute travelers.
Airbnb Fees
This was one of the biggest surprises to me. I assumed the fees would be much higher. Locally, property management services take a 20-25% commission fee for booking your property. Airbnb’s fee is only 3%. Cleaning fees and service fees are additional and those get paid by the guest.
Guests Check-In
I’ve stayed at numerous Airbnb’s over the years and what I’ve found to be the most convenient for guests and hosts is a keyless door lock. Key codes can be easily set up for each guest prior to arrival. You can even create multiple codes at once so you have them ready. This avoids you having to be there to let them in, is more convenient for the guest if they arrive late in the evening, no lost keys and no fear that a duplicate key has been made. *Make sure you’re checking the batteries on a monthly basis, so the lock doesn’t die.
Hosting
Initially, I was so worried that I would forget about a guest checking in. Airbnb takes that fear away by providing text alerts a week prior, a few days prior and the day of check-in. I can easily send a message to my guests at these intervals with pertinent information. Through this messaging, I feel I really get to know a lot of my guests even though we’ve never met. This communication then leads to open conversations should an issue arise. The issue can be solved, and your ratings stay strong.
Becoming an Airbnb Super Host
Speaking of ratings, you want to encourage your guests to post a 5 star review each time. This gives you credibility for future guests as they read through the comments. I’ve had guests mention that they’ve booked solely on the reviews. It goes back to the old adage: word of mouth is the best advertisement.
An added plus to more 5 star reviews is that you can acquire a Super Host status by maintaining certain requirements each quarter.
Quarterly Criteria
- Overall rating: 4.8
- Response rate: 90%
- Stays: 10 completed stays or 100 nights over 3+ stays
- Cancellation rate: Less than 1%
Achieving a Super Host status shows your guests that you’re legit and people love staying at your place. Airbnb rewards their hosts for maintaining this status for a year by giving you a $100 coupon for your next personal Airbnb stay. I love this perk!
Putting it all together
If you’ve stayed at several Airbnbs, then you most likely know what you want to personally offer. The cleanliness, the comfort and the special touches are what sets a good destination apart from a fantastic destination. I HIGHLY recommend staying in your own place at different times of the year. This may sound silly, but some investors set up shop and never experience it themselves. Stay in each room, shower in each bathroom and use the appliances. If you don’t like something, chances are your guests won’t either.
As I mentioned at the beginning of the article, Airbnb will give you $40 as a bonus when you sign up using my referral code. Thank you so much in advance and good luck with your new business venture!
Come stay at our Airbnb!
Our condo is located in Mexico Beach, Florida. It is a calm, family-friendly destination. We love it because everything is within walking distance: coffee, ice cream, restaurants, and shopping. The location between Panama City (and all of its touristy attractions) is an hour to the west and charming Florida towns (Port St. Joe, Appalachicola) are to the east.
We’ve named it Pelican’s Perch because of the pelicans that randomly visit the area. We’ve enjoyed watching them over the years. Our family has even coined the phrase ‘patient as a pelican’ after a memorable fishing experience.
I’ve written a few articles on the area that you may enjoy.
We hope you come to love Mexico Beach as much as we do.
