When I talk about booking two hotel rooms and staying in just one, I will probably sound half-witted to you. But without realizing it, we do the same thing when we are out for a vacation but still are obliged to pay the rent even when it’s unoccupied. This not only exudes our budget but also leaves a really good space, unused.
To make the most of this situation and also make this profitable while assuring a comfortable stay for the travelers, one can list their room or flat on Airbnb and host it.
Few things to keep in mind before listing your space on Airbnb:
- We need to ask ourselves if our goals and expectations align or if need to make this our primary or secondary source of income. Depending on the answers, we need to calculate the number of resources and financial assets needed while also considering the risks connected. You can look for premium quality Airbnbs at godrej chandivali price
- We are granting permission to strangers to make use of the space and the amenities associated with it. You should be comfortable enough to communicate with your guests to be able to host them. If it discomforts you, this is probably the wrong avenue. Instead, you have to take a long road to find a suitable rental unit.
- We must educate ourselves regarding the latent market force called ‘rental arbitrage’ that makes the short-term rental market achievable.
- Flexibility is important. Listing and managing an Airbnb takes more time and energy than one can expect. Even when you are not dealing with a lot of bookings at a given time, you are still expected to stay alert for emergency calls.
- You will need an irresistible proposal that places your guest space favorably among a growing number of better alternatives. A good set of high-resolution pictures of the room, the amenities, the highlights, and extra service should be provided in the description of your listing.
- If you have a landlord, it is highly suggested not to run Airbnb without their knowledge.
- We must take into account if the neighbors are comfortable with you hosting a bunch of strangers in your house. If you ignore this, you may face heavy penalties.
- The risks and liabilities including being at risk of renting to a kleptomaniac, guests getting injured due to any faulty construction of furniture, or them damaging the property or injuring the neighbors. You can overcome this by giving an option of proper Airbnb liability insurance coverage.
- Pricing your listing optimally takes time and it needs to be revisited regularly as you continue hosting more and more guests. It is not just about setting a fixed weekday and a weekend rate but also examining the changing trends, any special events like New Year or Diwali, and the rates of the other Airbnb in the same area. To enjoy exquisite conveniences at an affordable price throughout the year, godrej chandivali price is your next stop
- We need to continuously learn and adapt our space listing according to the transient market conditions, preferences of guests, or local law.
- In some way or the other, hosting a property on Airbnb can interrupt your life especially in the case of hosting just one unit instead of hiring a third party listing manager to handle hosting and bookings on behalf of you, to ensure the cleanliness of the space, restocking, attend customer queries, etc. We need to prepare ourselves mentally for this.