By Correspondent
Airbnb was founded more than a decade ago and has been growing exponentially ever since.
The idea behind Airbnb was born in San Francisco when two people opened their space to three guests.
Many years later the core concept has stayed the same but the mission has grown.
Visit here for more information.
Currently, it boasts of millions of active listings in over 200 countries.
In 2022, the platform reported that more than 393 nights and experiences were booked.
It’s a sign of a thriving industry into which one can join and earn some extra money.
How to List With Airbnb
It is up to you to decide when to make your space available and at what price.
Listing is free, and you can individually approve potential guests.
In setting your price, you’ll want to consider the going rate in your area by looking at competing listings.
You’ll want to consider the costs of hosting—including cleaning, higher utility bills, taxes, and Airbnb’s host fee, which is 3% for payment processing.
Your guests pay Airbnb’s 6% to 12% booking fees.
According to Investopedia, “there is need to make sure you understand Airbnb’s hosting standards for listing accuracy, communication with guests, keeping your reservation commitments, cleaning your place for each guest, and providing basic amenities such as soap and toilet paper.
Payments
Guests actually pay you through Airbnb and as long as there are no problems, Airbnb will release your payment within 24 hours of your guest’s arrival.
The money will be received within one business day, if you choose to get paid via PayPal.
If the channel is through a bank transfer it will take a few day, or within 15 business days for a mailed check.
Can You Make Good Money Hosting an Airbnb?
Success with Airbnb will depend on a number of factors including the desirability of your property’s location, its amenities, condition, and price point.
In 2021, the typical U.S. Airbnb Host’s income averaged just over $13,800 (an increase of 85% from 2019.
Marketing Your Place
One has to post alluring and attractive photos as part of marketing the place.
You’ll want to clean and declutter your space before you photograph it to present it in the best possible light.
In some countries, Airbnb will even send a professional photographer to capture your space for free if you’re an active host.
When describing your place, think about what makes it unique, and try to consider it from an out-of-town visitor’s perspective.
“Is your place within walking distance of public transit?
Is it located near great restaurants, nightlife, or cultural activities?
“What amenities can you offer: wireless internet, a fully stocked kitchen, cable television, an outdoor patio?
Taxes
There is need to understand the various taxation issues in each locality to avoid contravening the law.
Some Councils may require a business license, and you might owe local taxes on any income you earn.
You can look up Airbnb’s information on many cities’ regulations.
Visit the Airbnb site here for more information: https://www.airbnb.com/zimbabwe/stays