You can make some serious money renting out your home if you don’t mind strangers singing in your shower. But the finances of hosting on Airbnb and VRBO can be tricky.
Before cashing in on your space, learn about the market, expenses and taxes you’ll encounter. Think like a small-business owner
Hosts are entrepreneurs. They must rent their home legally, compete in a crowded marketplace and choose a smart listing price. Here’s how to pull that off: Create an attractive listing
Research how to make your property stand out among local hotels and other rentals. The internet is full of guides to creating the perfect listing, and Airbnb offers a “toolkit” on the subject.
To summarize some of the most important advice: Post enticing photos. “Images are what sell properties,” says Scott Shatford, co-founder and CEO of Airdna, a service that provides rental data and analytics to hosts. “Whatever you’re writing about yourself, it doesn’t mean anything unless you have beautiful images.”
Shatford recommends landscape-oriented photos that show the space as clean, well-decorated and full of potential. “What you’re trying to sell is what you can do in an Airbnb rather than a hotel room,” he says. So make sure to include […]