How to Airbnb an Apartment Successfully
There are a few factors you need to consider to ensure you have an effective Airbnb property. After all, you want to ensure you have as many bookings as possible if you want to make a profit from your property. Therefore, it needs to be Airbnb ready before you list it live.
As well as being able to rent houses, a lot of people want to know how to airbnb an apartment. After all, apartments can be great rentals with profit to be made if you follow our rules on listing your property. You don’t want to end up spending lots of money on changing your apartment and finding it’s not ready to be an Airbnb apartment.
You don’t want to make a poor decision and end up with an airbnb apartment that is hard to rent out. Therefore, here is our guide on how to airbnb an apartment and earn some extra cash.
Can You Airbnb an Apartment?
Before we delve into how to airbnb an apartment, we must first answer whether you actually can airbnb one. The answer is yes, an apartment is a great choice for Airbnb. Here are a few of the reasons why apartments make a great choice on Airbnb:
Versatility: An apartment can work for a whole range of people looking for a rental on Airbnb. From professionals looking for an apartment where they can stay while away on business to families who want an apartment for their family trip, you can cater to a whole range of people when listing an apartment.
Attractive: A lot of people like the idea of an apartment and find it appealing. For one, if you are located on an apartment in a city or at a beach resort, an apartment will offer views that the guest will love. They will be able to see across the area and will not be able to get these same views in a house.
Easy to maintain: When you list a house, you have a lot more rooms to clean and prepare ready for your guests. Apartments are a lot easier to maintain and you can keep them in good shape for your guests. With no garden to keep on top of, you have just the inside area of the property to ensure the guests will love.
Cost-effective: An apartment is also a great choice for Airbnb as you can offer a reasonable price that is cost-effective to your guests yet still make you a profit. It’s cheaper to run an apartment so you will end up making a good profit on an apartment making it a popular choice to rent out on the Airbnb site.
Have you got the right apartment for Airbnb?
Here are a few things to consider when deciding on putting an apartment on Airbnb:
Consider the location
One of the biggest factors when deciding on an apartment for Airbnb is whether the location will attract guests. After all, you want a location which has plenty of appeal that will draw in guests. The number of guests you have will match the popularity of the location and will ultimately affect your profit. Remember to highlight the best factors about the location when you do list the apartment. Here are a number of things you need to think about when it comes to the location:
Attractions: Has the apartment got any major attractions nearby which might help guests to book your Airbnb? For instance, is there a large football ground or a concert venue in the vicinity? Is there a theme park or family attraction that will draw a lot of guests to stay close by? You want to ensure your apartment offers attractions in the vicinity to draw guests.
Popularity: How popular is your area with travellers? You want to ensure that the area your apartment is in is a popular area where holidaymakers will want to stay in. After all, if the location is a popular, bustling area, they are more likely to book. Therefore, research before investing in an apartment for Airbnb.
Character: While larger cities are appealing on sites like Airbnb, sometimes smaller towns are a hit if there are features you can focus on when it comes to location. Focus on the character of the location and mention cobbled streets, a peaceful environment when talking about smaller towns.
Follow the Rules
Another thing you need to do before you decide to put an apartment listing up on Airbnb is to make sure that you are doing everything above board. Here are a few of the main things you need to consider:
Rules in your area: Every area has different rules when it comes to renting out properties in that vicinity. So it’s important that you research all the local rules and how it stands for you to rent out the property.
For example, in certain areas they only allow you to rent out a property for two weeks max. In other areas you may need to pay a fee or apply before being able to rent out your property. Therefore, you need to ensure you check all the rules so that you do not end up breaking the law.
If you are in a rental property: It’s not a complete no if you want to put your property on Airbnb but are renting from a landlord. A lot of people think they will not be able to rent it out but it’s all down to your lease. You need to check this to see if there are any rules stating you cannot sublet.
It might be the case that you can rent it on Airbnb with the landlord’s permission. But you need to make sure you do ask and do seek the permission as you do not want to be fined or in some cases, evicted due to renting on Airbnb.
Following Airbnb rules
You also need to ensure if you want to start renting out your property to guests on Airbnb that you are prepared to follow the rules in place for hosts. After all, you don’t want to end your journey on Airbnb before you get the opportunity to make a profit. As a host, here are a few of the rules you need to follow if you do want to Airbnb your property:
Accept reservations as much as you can: If you are going to reject requests regularly, you will find that you will get a reduced amount of booking opportunities in the future.
Answer queries and bookings quickly: You need to ensure you don’t leave people waiting for longer than 24 hours if you can.
Do offer a good experience: You want to ensure you get great reviews from your guests with an overall good experience from staying in the accommodation. The higher the reviews, the more likely you will get a chance to become a super host. And if you do get low scores continually, you might get your property removed from Airbnb.
Don’t cancel unless necessary: If you mess people around, you will also be breaking Airbnb’s rules. There will be times when it is necessary to cancel due to circumstances out of your control. But if you start to regularly cancel bookings, you will find yourself removed from the site.
How to protect yourself
If you are new to the whole Airbnb experience, you need to ensure you take steps to make sure you are protected when placing an apartment on Airbnb. After all, you don’t want to end up regretting your experience, losing money and potentially putting your place at risk of damage. Here are a few of the most important things you need to do to ensure it’s a positive experience:
Check out guests: One of the most important things you need to do before agreeing on a booking with a guest is to screen them first. The basic way to do this is to check out their ID before you complete a booking. Whether that is by checking their driving licence or passport, you will feel comfortable when you have the clarification that they are who they say they are. You can also ask them some questions to ensure they are the right guests for you.
Also, make sure you inform your guests of any rules before they do stay at your property. That way, they can cancel if they can’t respect the rules you have in place and you will have the right guests staying at your property.
Cover yourself with insurance: It’s always a risk that something might go wrong when someone stays at your apartment when renting on Airbnb. Therefore, you need to ensure you are ready for the unexpected by covering yourself with insurance. The first thing you need is home and building insurance. You want to make sure you are covered if a fire or flooding did occur when guests stay.
Also, you need contents insurance just in case something got broken while you had guests. When you are on Airbnb, you get host protection insurance which thankfully protects you for claims up to 1,000,000 on your policies. You can also look at getting Airbnb liability insurance for an increased amount if necessary.
Don’t go privately: You might find the opportunity comes up where you could do the booking privately. But if you do go off the system, you lose that protection as a host. So if something does happen and the guest doesn’t pay you or breaks your apartment, you will not be able to claim. Therefore, think twice when tempted to allow someone to rent your place outside of Airbnb.
How to get the apartment ready for guests:
Your apartment as it is will not be suitable for Airbnb. Here are a few of the main ways you can make your apartment Airbnb ready:
Cleaning: Before you list your apartment, it needs to be cleaned from top to bottom. It should be of the best quality possible before it’s ready to be listed on Airbnb. After all, this is essential and will lead to good reviews which will ultimately lead to profit. You don’t want negative reviews due to cleanliness.
Amenities: You also need to update the apartment so that it’s full of essential amenities that are in Airbnb rentals. For instance, you want to ensure they have all the toiletries on offer as well as towels and toilet paper. You also need to invest in fresh sheets and spare bedding for guests. Updating your kitchen so that you have all the accessories is a must before putting your apartment on Airbnb.
Remember that if you are going to start renting your apartment out on Airbnb, you need to stay organised. Ensure you have a system in place so that you can keep on top of all your bookings, information about guests and the money you are owed. That way, you can easily stay professional and be the best host possible to your guests.
And remember you need the best listing possible with professional photos. Ensure you sell your apartment to perfection and research aplenty before you go ahead and list.
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