HOW TO START AN AIRBNB BUSINESS IN YOUR HOME
This guide can honestly be applied to any country in the world but for this post, my focus would be on how to start a bed and breakfast business in your home in Nigeria with no money spent. Do you have a nice home and you have an extra room you can offer to guests which is not in use currently in your home? Do you have this room lying around for no reason and is not being used? Then you are really missing out on the chance to make a cool residual income on the side. Statistics show that there are currently about 25,000 Airbnb listings in Britain alone. If you have a spare room you have and is not in use now, you are currently crippled by high city bills, or you have been planning to start a bed and breakfast business but do not know how to go about it and would like to use the online marketplace to make some extra cash.
Below we outline the issues those considering renting on the site need to be aware of.
- How do I rent my property on Airbnb?
Once you have provided an email address and password to create an account, you have to click on the ‘’List Your Space” icon at the top of the Airbnb homepage. This will bring up a page where you can specify your home type, room type (i.e. whether you are willing to offer the entire home or it’s a private room or shared accommodation. This where you specify also how many people, your property can accommodate and the location.
You can choose whether you want to allow potential guests to place a booking instantly, or whether you would prefer to receive a booking request before you decide if you would like to host them. You can also upload pictures which is a key element for travellers looking for where to book, and you can specify if you will be charging a security deposit/cleaning fee. The good thing about using this platform also is that you can state the dates which the property is available so that you don’t receive requests for stays when your property will not be available. Note that when your listing is live, it is important to respond promptly to queries and booking requests. Not responding to requests promptly could cause you to go down the search result rankings.
- How do I get paid?
You will need to provide Airbnb with your payment details upon creating your listing so that it can transfer the guests’ money to you when they place their bookings. Once you have confirmed that you would like to host a guest, Airbnb collects payment from them. They then hold the payment until 24 hrs after check-in, at which point you receive your money. The company discourages cash payments although in some countries transfers via Western Union money transfer may be possible.
Airbnb charges a 3 percent commission on every booking from hosts, and from 6 -12 percent from guests.
- Do I have to give a refund if the guest cancels?
Hosts can be either strict, moderate or flexible about their return policies. “Flexible” means that you are willing to offer a full refund one day prior to arrival, except fees; “moderate” means that you are willing to offer a full refund five days prior to arrival, except fees, and “strict” means you will give a 50 percent refund up until one week prior to arrival, except fees. The “super strict” policy is by invitation only and means you will offer a 50 percent refund up until 30 days prior to arrival, except fees. There is also a policy for long-term lets of 28 nights or more.
The company has an online resolution centre where hosts and guests can resolve disputes.
It is important to know that you will be reviewed by the guests you host. For the host, getting positive reviews is very important. Airbnb has made the peer review policy one of its linchpins, and it is in the interests of both hosts and guests. The quality and quantity of reviews you receive will have an impact on your position in search results listings. Be nice, respond to questions promptly and make sure your property is just as you claim it is.
Note that Airbnb encourages its community to verify their account when joining Airbnb. Hosts can also require guests to complete Airbnb’s Verified ID process. This is to protect you from any eventual damage in your home.
If you would like to sign up with Airbnb click on this link at no cost to you.