Airbnb is estimated to be worth around $38 billion dollars, with 5 million lodging options in over 81,000 cities in the world. Today, there are many seeking a piece of that profit pie by renting out their houses on Airbnb to make money on Airbnb. If you are a rentreprenuer like them, you are probably wondering how you can go on about learning how to list your home on Airbnb and transform it into a solid side hustle.

Fret not! This article breaks down all the essential steps you must know before deciding to rent out your house in Airbnb and start a business on the lodging marketplace site.

Step #1: Delivering the Airbnb Experience to become a highly-rated host

It is no secret that becoming a highly-rated host, or even a Superhost, is the gateway to establishing a successful Airbnb business to make money from renting out your home. The common misconception among hosts is that they can improve the experience with time, when in reality, offering a truly top-notch experience from the get-go to your very first customer will serve you very well when you want to rent out your house on Airbnb.

3 steps to set up your Airbnb room before renting out your house on Airbnb:

  1. Be sure to offer basic amenities like showering facilities, a comfortable bed and basic internet connection. These are considerations that would not even cross the minds of tourists when looking for a home because they are such basic essentials available almost anywhere today.
  2. Build on from basic necessities. What are some special features and amenities you could provide that could enhance your guests's experience? Start by considering yourself: what do you think would appeal to you when looking for a home in your city?
  3. Don't just offer the house, offer a home. When your goal should be to get as many 5-star reviews on your listed property on Airbnb, try your best to offer an experience instead of just a place to stay at. The more genuinely you seek to connect with your customers and provide them the experience of your home city they will never forget, the more easily your reviews will speak for you and do the selling itself. It is just like any other small business out there: making money from Airbnb is beyond possible.

Step #2: Renting out your house on Airbnb professionally

It all comes down to first impression. With the myriad of properties listed on Airbnb and an increasing number of people learning how to rent out their homes on Airbnb, you are going to have no choice but to STAND OUT (unless you live in a remote area where there are little to no properties available).

Be sure to make your Airbnb property as clean and comfortable-looking as possible before listing it.

A checklist to help with making a listed property on Airbnb stand out:

✔️ Attention-GRABBING Titles : Mare sure it highlights the key attractive feature of your set up Airbnb room or apartment.

✔️ Instagram-worthy photos: Renting out your house on Airbnb is an aesthetics game too: The more attractive the pictures of your home or the more enchanting its vibe, the higher the number of potential guests you will have.

✔️ A professional yet friendly host profile: Do set yourself up as a matured but easy-going host on your profile. Some tourists seek credibility from host profiles and they want to know that you can be trusted and will have a good experience with you when looking for a property on Airbnb.

Step #3: Get a Second Phone Number for your Airbnb Customers

Many people may tend to forget or neglect this step before renting out their houses on Airbnb. It is, nonetheless, a crucial step that protects your privacy and personal information while also keeping you organised and up-to-date on the business front.

We recommend downloading the Phoner app (click here for the Android version) to purchase the Premium number which essentially acts as a second phone number. This allows you to essentially have two different phone numbers within one phone.

By doing so, you can protect your privacy and information from a potential hundreds of customers who may be contacting you to enquire about your property. As you might have guessed, giving out personal information like that these days can only spell trouble. Imagine the number of cyber hackers who could use this method to pretend to be potential customers just to get personal information from you and other susceptible Airbnb hosts who are starting out their Airbnb businesses. Don't fall prey to such methods of social hacking and make sure you protect yourself with a second line that conceals your identity and protects your personal information like your location, your web activities and more.

Additionally, with a second phone number you can also keep your business matters organised. You can be alerted of business and prospective guests' enquiries as and when you want, stored separately for your easy access.

A second phone number could also be a better option for you if you want to keep up a professional yet amicable front with your potential clients. Instead of handing out an email address, a phone number could have them feeling like you value them and desire a genuine connection with them. You could tell them to contact you at this number too, for any queries you could help with when they tour about the city.

Such a method not only helps  build credibility but also a good experience with your guests who will then be more likely to leave good reviews on your page. With good reviews published on your listed property on Airbnb, you are well on your way to making money off of your Airbnb business.

Step #4: Pricing the property you listed on Airbnb

When setting up your profile, you will realise that Airbnb suggests a price with which you can start listing out your home on Airbnb. Airbnb also suggests a lower fare for those starting out their Airbnb businesses for the first time and this is highly recommended too. Doing so can help you gain lots of traffic and potential customers as they are driven to your cheaper price. You could use this strategy at first to at least get some reviews and establish yourself as a trusted Airbnb host before you can consider competitive pricing.

Having said that, you should also know that the demand for Airbnb hosts are almost always guaranteed. You may want to do your own research, and depending on the number of properties listed in your area, how attractive your city is to tourists, peak travelling seasons and the amenities you are able to provide, you can price as you deem appropriate. How much money you can make on Airbnb depends on your business acumen, just like every other business. Remember, keep your costs low but your standards high.

You vs Airbnb

When thinking of renting out your house on Airbnb and starting a business of the site, approach it with the rigour and expectation you would with any other business to see the desired extent of reward you desire. Set up your Airbnb room as you would your own apartments, list your property on Airbnb as attractively as you can, and price it competitively.  Do take into account your safety and privacy when setting up an Airbnb business, or any other businesses, for that matter. Before you know it, you are standing out amongst all the other beginner rentrepreneurs on Airbnb.