16 Oct Five Reasons to Consider Becoming an Airbnb Host
Without a single shred of doubt, Airbnb has made the process of lodging easier and more fun. And for those who do not know what Airbnb is, it is an online hospitality and lodging marketplace platform that connects those seeking accommodation with those offering accommodation for a fee. Basically, the company plays the role of a broker between hosts (those offering accommodation) and guests.
Over the years, the number of people who use the platform has increased tremendously. The platform keeps growing as more and more hosts keep using the platform to advertise their properties and attract guests. The reason for this is obvious – becoming an Airbnb host carries a number of amazing benefits. Some of these are discussed below:
- Financial Benefit
This is probably the most important benefit of becoming an Airbnb host. Generally, it is estimated that renting out your property on a short-term basis could earn you about two to three times more than what you will get renting the same property out long-term. This explains why people who usually rent out their properties via Airbnb have the potential to make up to three times the normal rent of the property.
To make great ROIs without lifting a single finger, hosts should consider engaging the services of property management companies such as Stellar Homes who offer quality property management services designed to meet the needs of their clients. Some of these services include guest screening, cleaning and maintenance, and professional photography and designer styling to make your home irresistible, among others.
- Time Factor
Another very important reason to consider being an Airbnb host is the time factor. Renting out your property requires a lot of time, usually time that we tend not to have. Performing tasks such as checking guests in and out, pre-stay and post-stay communication with guests, requesting that very important review from guests, changing sheets and towels during guest’s stay and following up in the event that the guest forgets something in the apartment are all very laborious and time-consuming tasks that the host must perform.
However, because of the need for time to take care of other responsibilities and routines, the host could alternatively choose to employ the services of a property management company – such as Stellar Homes – who will carry out all these host tasks and responsibilities for a fee. By taking care of all the aforementioned tasks, property management companies allow the host enough time to take care of other responsibilities. This is especially important for hosts with full-time jobs but with the need for passive income and also for property owners who does not live in the country.
- Cost of using Airbnb
As has been mentioned above, Airbnb charges an administrative fee in exchange for the brokerage service it provides. This fee, which is only 3% of the total price of the reservation on your property, helps the company to run smoothly, offer round-the-clock customer support and also includes a host guarantee of 1 MUSD.
- Vetting of Guests
This is a very important reason to consider doing your short-term rentals via Airbnb. Airbnb provides reviews for guests allowing you to actually learn more about your guest before allowing them to stay at your place. This is great as you are able to choose guests that appeal to you as well as those you think will be able to properly take care of your place.
- Airbnb Host Guarantee
Another very important reason to consider becoming an Airbnb host is their host guarantee of up to $1 million which works very much like a form of insurance as it covers all types of property damage by guests.
In the event that property is damaged, it is the responsibility of the host to submit a claim against Airbnb. Airbnb will then discuss with both the guest and the host and once everything has been sorted out, pay the host accordingly.
These are just a few of the advantages associated with being an Airbnb host. It also gives you a chance to meet and interact with new people, build strong social connections and learn from the experiences of those you interact with – guests and hosts alike. It is important, however, to note that property management companies like ours – Stellar Homes, play a very important part in making your Airbnb experience a memorable one. With the host of services, they provide to hosts, it is impossible to truly benefit from Airbnb without making use of their services.