How to make extra income from your property

Could you make money from your property?

property rentalWith restrictions easing more and more each day, perhaps it’s time to consider making some extra income with your property and turn it into a vacation rental. Whether you’ve got a spare room and bathroom or you are often away travelling, why not capitalize on your investment and make your property work for you – the question is, how?

Here is a handy guide to listing your home on Airbnb and making some extra money.

Create an Airbnb account

It is easy to sign up to Airbnb and it’s a safe and convenient process. To ensure that you set up a trustworthy-looking profile:

Fill out your profile in detail

Just as hosts are skeptical of accepting guests who leave their profile information largely blank, it’s no different for guests when choosing a property host. Airbnb will prompt you as to what to include, and it’s important to give prospective guests a sense of who you are as a host.

Verify your account and include a clear, friendly headshot

Ensuring that your account is verified will instil more trust in your guests, as will a good headshot. So, complete the various identity verifications (such as scanning your passport) and connect up your mobile phone number or link to your Google, Facebook or LinkedIn account and upload a clear image of yourself, preferably looking friendly. 

Set up your property’s listing

The Airbnb site again makes this an easy process, walking you through each and every step. Common questions include:

How much should I charge? 

Airbnb can calculate a standard rate based on your number of rooms, amenities, your location and the price of other local listings. Ultimately, though, you decide on the price and can change it anytime, including making allowances for certain dates or holidays. It can also be a very useful exercise to get an independant instant Airbnb valuation online for comparison.

What if I only want to list it for certain dates?

This is common and easy to set up – in fact, you could list your property for one date only and never again! The site will provide you with a calendar which you can adjust as you wish.

Accurately describe your space and amenities

Paint an enticing picture of your property

The more vividly you can paint a picture of what guests can expect, the better. Is it relaxing or vibrant? Is it metres from a delicious restaurant or local market? Does it boast an idyllic view or perfectly cosy nook to curl up with a good book? Your description is what will inspire people to choose your property, so whilst it’s important to be honest, make it sound enticing!

Provide accurate descriptions

Inaccuracies in your property description will lead to bad reviews, so whatever you do, keep your portrayal of the space on offer accurate and honest. If you say it’s metres from the beach then it needs to be metres and not miles. The best way to cultivate good reviews is to be accurate and also to acknowledge any negatives (without being too negative about them). Unpleasant surprises will put guests off and they will then negatively rate and review your property publicly. 

Address negative aspects – with a positive spin

Noisey neighbourhood? Add this, but explain why. Perhaps it’s close to the nightlife or in the heart of a thriving community atmosphere. Some people like a lively dynamic.

Small living space? Again, be upfront about this, but focus on what makes it great. Perhaps it’s cozy, warm or minimalist? Not everyone needs huge, open plan living spaces.

Older property? Let them know this, but also, is it charming, retro, historical? 

Pets? It is imperative that you mention the presence of pets, firstly because some people suffer with genuinely chronic allergies and secondly, because some people strongly dislike the idea of sharing their space with animals. Again, be upfront but positive – are your pets cute, fun and great company? Perhaps they happily keep to themselves – either way, let guests know.

You can let people know the realities of your property without making it sound uninviting!

Include some perks

Adding some inviting perks can be a small investment for a great return. Essential inclusions are items such as the internet, a kettle, tea and coffee, sugar and milk and the use of some towels. Extra ideas could include toiletries, breakfast options or a map of the local area with suggestions for eateries and activities.

Provide a list of local attractions and amenities

No matter how mundane or obvious they may seem to you, it’s very helpful to your guests to provide them with a list of local amenities, services and attractions, so include transport information, shopping options and any unique aspects to the area such as walking trails or special markets etc.

Post great photos

Photos are arguably the most important aspect of your listing, drawing guests in with the way your property looks – so take care in posting top quality photos. Clean up, take photos with natural lighting, capture the whole space and add photos of the neighbourhood and street, as well as any special nooks or views.

So there you have it, now you know how to get your property listed and start attracting guests on Airbnb. As your listing grows, you may want to look into outsourcing services to help you to keep on top of managing and greeting guests, handling keys and cleaning your property. Thankfully , these services are usually easy to come by.

Other than that, so long as you keep your calendar up-to-date, maintain a fast response rate and keep your guests happy, you should have a very positive Airbnb experience and make a nice profit in the meantime!

 

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