Everything You Need To Know about Renting Through AirBnB

If you have a property you don’t use that much, maybe a few times a year, but it is in return costing you a fortune to maintain, then opting for AirBnB is the perfect solution. If you still haven’t heard about this renting platform here is a short overview. AirBnB began in 2008 when two designers had a space to share. Today millions of people around the globe are posting spaces or choosing unique accommodation offers through AirBnB.

So how do you go about renting your space?

Check if you have all the clearances

So the first step is determining if you fulfill all the conditions required for becoming an AirBnB host. Local laws differ from country to country, and at times there may exist some local restrictions on short-term renting options. The next step is sitting down and having a chat with your neighbours. Some people are not thrilled to have a lot of tourist go through their building or neighbourhood, but with the right argumentation things can be smoothed over quite easily. And most guests are just great since they also want to get a good review on their AirBnB profile from their hosts.

Well you still have to deal with the taxes

There is a great section on the AirBnB site explaining this. But taking into account the different laws and rules you should be prepared to do a bit of digging to make sure you are doing everything by the book. For example, if you need to collect the local tax, you can state that in your AirBnB listing, so that the guest know the amount that will go for this cause. Also if you live in a country where VAT is applicable it would be wise to contact your local tax advisor as to correctly assess the VAT amount you’ll need to charge for your rental.

You don’t have to do it alone

If the procedures in the previous sections are deterring you a bit from this option you can always do what most hosts do, hire Land and Property VAT Specialists, for example, that way you will have experts handle the tax side of your AirBnB properties and you will feel a lot more content with the outcome. Everything from your account management to booking and guest communication can be done by trained professionals who have your best interest in mind. Just make sure you clearly point out the dates you might want to stay at your space so that the manager in charge of your property can have a clear yearly schedule. You see, Australians, and so many others in the AirBnB business have got it made.

Cleanliness, design and house rules

If you are indeed brave enough to take your AirBnB property into your own hands then these three are bound to make or break your reviews. The cleanliness levels are essential for your guests to feel welcome. Now you can always hire a cleaning service after the guests leave so that the place is perfect for the next ones. On the other design of your property is something unique to you, so if you love eccentric furniture or boho style, go for it, the uniqueness of your place might be exactly what attracts your guests. Finally, we come to the house rules, the clearer and more detailed they are the less chance there is your guests will damage your property, willingly or unwillingly. So place house rules in a visible place, and when welcoming your guests make sure you point them out so that you know that they have seen them and read them as to avoid any possible misunderstandings later on.

So now that you are completely informed about the ins and outs of renting an AirBnB property you are ready to make your decision. The bottom line is, yes it is a bit of work, but with property managers you don’t even have to lift a finger and you can just collect the profits. Having a property that just sits there, unused and constantly costing you money is in no way a good thing, and an AirBnB profile and some time investment can really turn your income around.