Airbnb Hosting: Essential Steps to Host Your Home on Airbnb

Real estate is an ever-booming industry in the Philippines. Despite the pandemic and the economic adversities that the country faced in recent memory, the real estate sector proved to be resilient and has stayed a lucrative industry enjoying high demand for properties.

Young professionals and investors are also said to be contributing greatly to this upward trend in real estate property demand.

As such, one of the ways in which property owners can earn passive income through real estate investing is by listing their property on Airbnb, a home-sharing provider for vacationers searching for a place to stay, and for private property owners wanting to earn extra income by renting out their own space.

Hosting your home on Airbnb can be a profitable prospect. Need a comprehensive guide on how it works? In this article, we'll be discussing all the necessary details to get you started as an Airbnb host with your house and lot in the Philippines.

Factors to Consider Before Starting an Airbnb Business

But before you launch your Airbnb business, there are factors you need to take into account first. Essentially, you need to ask yourself these questions. Your answers would determine if an Airbnb rental property business is right for you.

• You will need to be hands-on when managing your Airbnb business. Do you have the time and commitment to start an Airbnb rental property?

• What other obligations do you have that might be compromised? Are you going to make your Airbnb hosting full-time or part-time?

• Airbnb guests are typically people looking for a place to stay during their vacation. Is your property's location strategic and near tourist attractions?

• Are you financially prepared for the costs of Airbnb hosting?

• Can you meet the hosting standards set by Airbnb?

The competition will also be high, so you may need to invest ample time, effort, and even money to run an effective digital marketing campaign to attract clients. Not needless to say, you will also need to make adequate research as to how this industry works. These are indispensable steps in not only getting started but also in maintaining your business.

Host Your Home in Air Bnb: A Quick Guide

If you're sure to venture into an Airbnb listing business, then read on to help you get started. Below are the essential steps you can take to host your affordable house and lot on Airbnb.

1. Create an Airbnb account

The first step is to create an account with the home-sharing platform. To do so, you'd need to enter an active email address followed by a strong password. Alternatively, you can create an account by simply linking your Facebook or Google account.

2. Start a listing

After successfully setting up your Airbnb account, you could then go to the host login page to add and start a property listing. After that, you'd be asked to provide your property's details, such as listing type (if a house or an apartment), property type (if condominium, townhouse, or a guesthouse), number of guests it can accommodate, as well as the number of available bedrooms, bathrooms, and whether guests can have a private room, spare room, or have the entire place all to themselves.

Once you're able to provide all these details, the next best step would be to add high-resolution photos with wide-angle shots that will give potential guests a good virtual view of your property. You can accompany these photos with a concise summary highlighting its best features and amenities.

In addition, you may be asked to provide further details, such as essential establishments your property is near to, the neighborhood, or how to reach the area. Then, you can set out house rules that your guests must adhere to on the Additional notes.

3. Wait for booking inquiries from potential guests

After publishing your property listing, it's the waiting game. It may take up to six hours before your property would surface on the platform's results page. But if after a few days no one seems to take interest in your listing, you may find the need to make adjustments to the way you presented your listing. And since you just got started, consider offering a discount.

If you did attract a potential guest, see to it that you will respond as soon as possible once you receive an inquiry. This way, your client will have an impression of you as an accommodating host who responds promptly to customer queries. If a client makes a reservation, you'd have 24 hours to accept or decline the request. But do note that canceling a request, much less failing to respond to a request within 24 hours, will be bad for your business as a whole. A customer may leave negative feedback, and Airbnb also charges cancellation fees from your payout.

4. Fulfill your hosting responsibilities

After a successful reservation, Airbnb hosts like you should focus on delivering excellent customer service by dutifully fulfilling your hosting responsibilities. That is, make sure to promptly respond to inquiries, prepare your property for check-in, and clean after the guests' departure.

If doing the hosting yourself is too hassle for you, you can tap Airbnb management companies in the country to help you with the hosting duties. You can also look for a professional cleaning service to serve as your co-host. But whether you decide to do it yourself or hire co-hosts to do the manual labor for you, meeting clients' expectations, if not exceeding them, should always be a top priority. This way, you can earn positive reviews and become a sought-after host on the home-sharing platform.

5. Get paid for your hosting

Finally, after getting your first Airbnb guest, you will be paid for hosting your home. For short-term stays, Airbnb will pay hosts typically within 24 hours after a scheduled check-in. For long-term stays, meanwhile, such as over 28 nights, Airbnb will pay your hosting services in a month.

In the event of damage done to your property, Airbnb has a Host Guarantee or Host Protection Insurance for you. Though this is not a comprehensive insurance plan, it is of adequate help for hosts like you who have had a damaged property as a result of guests' stays. Filing for a claim may be exhausting as you will need to provide photos, videos, and other supplementary receipts to prove guests' liability. To receive a form of compensation for the damage, Airbnb hosts must present adequate evidence proving that the guests are accountable for the damage done.

At Lumina Homes, you can "rentvest" by purchasing a affordable house and lot for sale and renting it out for future tenants. You can also list your future Lumina property on Airbnb and reach clients looking for a place to stay for their vacation near tourist spots in your area.

Having said that, Lumina Homes communities nationwide are near tourist attractions and leisure spots for a fun weekend getaway with the family. Aside from this, it is also near malls, marketplaces, resorts, universities, medical facilities, and more for every homeowner's convenience.

This summer season, you deserve a property that you'd always love coming home to for its quality features, amenities, perks, and even the neighborhood's strategic location. Whether it's for your own home or a property to rent out and earn passive income, there is a Lumina Homes property that's right for you. Get in touch with us today and send your investment inquiries. A Lumina Homes representative will be glad to assist you.