You’ve always dreamed of getting off the treadmill, developing your own business model? Passive income sounds just about perfect? Then renting out an apartment on Airbnb might just be for you. But I don’t have money to invest, you say? Good news: It is even possible to make money on Airbnb without a large investment. Want to learn how? Stay with us!
Find an accommodation
Buy or rent a suitable place. Of course, the best option for starting an Airbnb business is to buy an apartment or a house. Not just any place, of course. It should be at a destination that is likely to attract tourists and travelers – and it should be in a safe and hospitable environment. The better the location, the higher your income. But you might as well start small!
Nonetheless: Before buying, you should also check the local laws. In some cases, such as some German cities, there may be restrictions on the use of apartments and houses as vacation homes.
If you rent, you need to talk to the owner and get his permission to sublet the apartment through Airbnb. Always make a contract. Even though in some regions of the world, formal contracts may not be regarded as necessary, it’s better to be on the safe side.
Get a professional photographer
If you want to get people to stay at your place, you have to spark their imagination. Make them feel like this is just the place that is perfect to spend a holiday with their friends or their family. An ideal place for the digital nomad life… depending on the kind of property you have to offer. So how do you get people inspired? With great pictures!
One way to find great photographers is through Facebook by searching local Facebook groups.
Keep in mind: The best photographer is not necessarily the most expensive one! Rather than choosing by price, look at the portfolio of the photographer.
That way, you can see the photographer’s style, and you can also check if he is experienced in photographing interiors.
If you want to save some money on getting your property photos done, this is not the moment. Pictures are in the top 3 most important things when creating an Airbnb listing.
Set up the listing on Airbnb
So you got the place and you got the perfect pics. Time to register on Airbnb and create the perfect listing!
The listing should be detailed and as complete as possible. But it also needs to sound appealing. You need a catchy title and an attractive description, that at the same time provides all the details of your property. Unless you’re an extremely good and experienced writer yourself, check on Fiverr for an Airbnb copywriter. These experts have loads of experience providing just what it takes to make your listing attractive.
Translate your listing into other languages
On Airbnb, you have the option to translate your descriptions into other languages. Try to translate into as many languages as possible. You should provide your listing in at least 5 languages. Maybe you wonder which languages to choose? Check where most tourists who visit the region (and/or rent your apartment) are coming from – then translate the descriptions into their languages.
Here, too, you can use fiverr to translate your texts into other languages.
Set up the listing on other platforms
Don’t put everything on one card: There are lots of platforms out there where you can rent out your place. Your apartment might perform better on some platforms than on others. So after setting up your Airbnb listing, check for other platforms where you can set up a listing, and see which ones perform best. Alternative options include Booking.com, Vrbo, Tripadvisor and many more.
Booking.com – www.booking.com
Maybe you’re wondering: But if I have listings on all of these platforms, how am I going to manage all the communication and coordinate the bookings?
That’s where Hospitable comes into play. Hospitable is a powerful tool to manage the bookings and communications for your property remotely and across different platforms. It comes with a channel manager, automated messaging and a lot more. It also provides integration for Airbnb, Booking.com and Vrbo.
Another great tool is PriceLabs. It helps you take care of the prices, adjust them to high season, low season, local public holidays and so on. You also get an in-depth analysis of your competition.
PriceLabs. The powerful revenue management tool for short-term rentals.
Find your team
Unless you live close by, you cannot do all the work alone. Someone will need to manage the property – someone will have to do the cleaning. Check on Facebook to find cleaning personnel and a manager. Depending on where your property is, you can also check other places like the classifieds in local newspapers.
Your first booking
Congratulations – you’re all set! Of course, as time passes, you can readjust elements of your listing, create new pictures and so forth. But for now, it’s time to wait for your first booking. If you’ve gone through all the steps above, you should see your first booking in no time as you lean back and harvest the fruits of your labor!
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