5 Tips Before You Start Your Airbnb

If you're like most property owners who are considering jumping into the Airbnb pool, you're probably anticipating meeting new people and gaining a new income stream. Follow these five best practices to maximize the experience.

Remember That You're Running a Business

A common mistake by new hosts is thinking of the Airbnb as a side hustle rather than a business in its own right. Because it's a business, you'll be responsible for every aspect of it, from screening guests to cleaning up after them. Although these tasks can all be outsourced, new hosts should start by doing all of them so that they can learn their business from the ground up and learn what's worth doing yourself and what you're better off paying someone else to do.

Have a Good Setup

A setup that makes guests feel at home from the moment they enter is an essential component of successful Airbnb hosting. However, it's also important that the setup be relatively easy and inexpensive to care for. For instance instead of luxurious wall-to-wall carpeting, opt for easy care vinyl plank flooring with throw rugs. On a smaller scale, provide coffee and tea as a welcoming touch rather than a basket of ripe, fresh fruit that will just have to be tossed if your guests don't eat it.

Avoid the Party Scene

You've undoubtedly heard horror stories of Airbnb guests throwing wild parties that leave a huge mess, destruction, and angry neighbors in their wake. Fortunately, strategies exist for minimizing the chances of this happening to you, including the following:

• Avoid single-night bookings, especially on Friday and Saturday nights
• Watch out for last-minute bookings, especially during party season
• Approach local bookings with caution

Establishing strong, clearly worded house rules about gatherings and parties is also recommended. You can also install a noise-monitoring device to help you put a stop to unauthorized festivities before they get out of hand. If the worst happens and your rental is trashed, don't be afraid to report guest misconduct to Airbnb.

Be a Host, Not a Landlord

Another common mistake existing landlords make is believing that transitioning to a temporary rental business model will be a snap. Significant differences exist, however, between being a host and a landlord who deals with long-term tenants. Differences include frequent turnovers, individual involvement with each guest, more frequent maintenance, and cleaning/disinfecting after each guest leaves.

Get Familiar With Airbnb's Interface

Taking the time to click around and explore Airbnb's platform will streamline the hosting experience for you. Even though Airbnb's interface is relatively intuitive, it still has quirks, twists, and turns that can throw you if you aren't used to them — and because it's still a young company, platform upgrades and changes are frequently part of the picture.

Above all, be patient with yourself, and avoid the temptation to fully book your rental until you'll fully confident