Turn Your Home Into A Business By Starting An Airbnb

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You’ve all heard of Airbnb, right? It’s this business idea where people put their houses up for people to stay in while they’re on holiday or travelling elsewhere. It’s kind of like an actual b&b, only the occupants of the house are out of the way. This has proven to be very popular in recent months, with more people opting to pay for Airbnb’s over actual hotels. It’s an alternative accommodation idea for those of us without a lot of cash, or without the need for hotel comforts.

I’m not interested in talking about Airbnb’s and why they might make good travel accommodation. Maybe that will form part of another blog post one day, who knows? What interests me is this idea that anyone can start an Airbnb in their home. That’s right, you can put your house on the Airbnb market for other people to rent while they’re on holiday. As a result, you can make a load of money.

Not only that, but you can also turn your home into a business, and grow from there. What starts off as a little Airbnb can grow into something a lot bigger and more meaningful. That’s what I’ll be talking about today, as I show you how you can turn your home into a business.

Research The Market

First things first, you need to research the market you’re going into. This means you need to have a look at accommodation in your area, particularly other b&bs or Airbnb. Ideally, you want there to be hardly any options for people travelling near you. This would mean your house becomes the place to stay, and you can get a lot of guests throughout the year.

While you’re conducting your research, you should also pay attention to the general accommodation prices in your area. This will help you figure out how much you should put your house up for rent on the Airbnb website. Price it too high, and people will opt for cheaper options. Price it too low, and you’ll fail to make any money. In fact, you can visit https://learnairbnb.com/ for a complete pricing guide that will help you out.

Once you’ve conducted your research, you should be in a position to determine how you move forward.

Decide On Your Approach

Before you start listing your property, you must decide what your approach will be. Some people assume you have to rent out your entire house to people, but this isn’t the case. If you want, you can rent out individual rooms or entire floors instead. This means you could potentially attract multiple customers that stay in your house at the same time. It’s like you’re running a mini hotel and you may appeal to a wider audience.

Should you choose the first option and rent out your entire house, you appeal to a niche market; families. Families need as much space as possible, and paying for two or three hotel rooms – for multiple nights – can set them back. As such, they look for alternatives wherever possible, and your house can be just that.

List Your Property

When you’ve decided what approach you want to go with it’s time to list your property on Airbnb. This is the stage where you make it available for people to book, and it’s very important you do things correctly. So, I suggest you sit down and take this step seriously. Don’t rush through it, plan it all out.

In all honesty, I’m not going to talk about this here as it really does require a lot of information. Instead, you can go to https://www.guesty.com

for a proper run through of how to list. I’ll give you the short version; go to Airbnb, click ‘List Your Space’ and follow the basic on-screen instructions. Add lots of high-quality photos to make your accommodation stand out and appeal more.

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At this point, you’ll have everything set up to make your home a profitable business venture for you. However, there are still a few things to think about going forward.

Investing Your Profits & Growing Your Business

This is a really important consideration as you shouldn’t be happy staying as you are. For me, an Airbnb represents a great opportunity to start a big business. You can earn a lot of money, but it’s what you do with that money that matters most. Invest it back into your business to grow into a much bigger company. You can invest in multiple properties to expand your reach and have places in different countries for people to stay in.

When this happens, you have more properties to manage, which means you have to invest in things to help out. If you visit http://mingus-software.com, you’ll see some software that hotel owners use to manage their business and keep track of revenue, expenses, etc. This can come in handy for you and your properties too. Furthermore, you may need to invest in cleaning teams to look after your properties in different locations. Either way, your business can start to grow.

Preparing & Maintaining Your Property

If you want to be a great host, you need to keep your property well-maintained. You’d like to believe that any guests will tidy up after themselves and leave your home in a decent shape. But, there are still general maintenance tasks you need to do such as cleaning your home, changing bedsheets, and so on.

You need to do this after every stay, to ensure your property remains clean and fresh for the next guests. Cleanliness is one of the key things people look at when they stay somewhere. If they find your home to be unclean, they’ll review it as such, and people might shy away from staying at your place.

Just like that, you’ve taken your home from nothing to a big business idea. The great thing is, you can decide how seriously you want to take this. If you’re just looking for money on the side, you can rent out one room. If you really want to start something special, then you can go gung-ho with everything I’ve outlined. Of course, make sure you have somewhere to stay before you do this! I’ve written this guide assuming you have other places to live and aren’t going to sleep on the streets just to make money!

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