Guide to Successfully Renting Property on Airbnb

If you have several property management rentals in a desirable location, you’ve likely considered renting your property out on Airbnb. The process can sometimes seem overwhelming, which is why we’ve put together this guide to act as a resource for you.

Find a desirable location

You may already own property management rentals in a desirable location, but the location is an essential factor if you don’t. In order to make money on your Airbnb listing, it needs to be in a place that people are actually visiting. Otherwise, your rental will sit empty and will cost you money instead of making you money.

Brush up on local Airbnb regulations

Rules and regulations for Airbnbs vary from province to province. Before listing your property on Airbnb, make sure you follow the appropriate rules, laws, and guidelines. In some areas, Airbnb rentals may be altogether banned; in others, you may need a special permit or license. In the wake of COVID-19, Airbnb has stepped up its requirements for cleaning protocols and standards on rental properties. So, check the Airbnb regulations in your city before you invest in making sure you aren’t breaking any laws and risk having your investment property be shut down.

Also be sure to analyze your property, location, and set the best price per night to make the most money on your investment.

Prepare your property for rent

You need to make sure your rental property is optimized to cater to travelers and people who will stay there. Remember, depending on where your property is, competition can be pretty stiff, and you want guests to choose your listing over the competitors. To ensure this, your property should offer stellar accommodations and be safe. Here are some things to consider when preparing to make your Airbnb listing live:

  • Renovations: If the property is old or in bad condition, consider revamping it to improve its quality to a level suitable for Airbnb guests’ stay. These renovations may include repairs, repainting, or even changing the overall design.
  • Provide basic essentials: Travelers will need some necessities during their stay so they can feel comfortable and at home. These essentials include things like Wi-Fi, toiletries, towels, cutlery, cooking essentials, an ironing board, and so on. The more you can make your renters feel at-home, the more they will enjoy their stay (and come back).
  • Furniture and decorations: Choose furniture and decor that is warm and homey but also on-trend. The more attractive your place is, the faster it will fill up with renters.
  • Ensure safety: Fire extinguishers, smoke detectors, first aid kits, and clear instructions for operating available systems and equipment will provide safety and peace of mind for both you and your guests.

 Listing and promoting your Airbnb rental property

Once your property is ready for rentals, list it on the Airbnb property. Use social media and email marketing to create buzz around your property and to get renters in the space.

Managing your Airbnb property

You need to manage your property properly and your guests for your Airbnb business to run smoothly and be profitable. Come up with streamline systems for maintenance, check-in, check-out, responding to emergencies, and sudden needs.