Start Your Own Travel Hosting Business: Airbnb, VRBO, Homeaway, and More

by Entrepreneur Media Inc., Jason R. Rich

Overview

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An ever-growing number of travelers are searching for more convenient and low-cost accommodation alternatives, as opposed to staying at traditional hotels. As a result, online-based services like Airbnb, FlipKey, HomeAway, Roomorama, and VRBO are making it easy for you to list extra bedrooms or your entire home, condo, or apartment, as a short-term rental option for travelers.

Start Your Own Travel Hosting Business will help you make intelligent renting decisions, take appropriate actions and precautions, and deal with realistic expectations while protecting yourself, your property, and your personal belongings. It will help you quickly acquire the core knowledge you need to become a successful travel host and teach you how to:

• Prepare your property, maximize amenities, and create a house manual for your guests
• Create a listing that generates the highest possible revenue using tips from Superhosts
• Attract a constant flow of short-term renters and business travelers with the perfect nightly rate
• Apply a variety of tools and resources that will make handling your  responsibilities as a travel host easier and less time consuming
• Interact with your guests, earn the best possible ratings and reviews, and avoid the most common pitfalls and mistakes made by first-time hosts
• Calculate your expenses, understand your tax obligations, and generate the highest possible revenue

You’ll also gain valuable insight from in-depth and exclusive interviews with veteran Airbnb hosts and executives within the travel hosting industry. Whether you choose to rent through Airbnb, HomeSuite, Kid & Coe, or take your rentals to sea via Yachtico, this book will help you get started.

Product Details

ISBN-13:	9781599186108
Publisher:	Entrepreneur Press
Publication date:	04/11/2017
Series:	StartUp Series
Pages:	224
Product dimensions:	6.90(w) x 8.70(h) x 0.40(d)

About the Author

Entrepreneur Media, Inc. is the premier content provider for and about entrepreneurs. Their products engage and inspire every day with advice, solutions, and resources that fuel the bold and independent way entrepreneurs think. After 31 years, nobody reaches more growing businesses. Based in Irvine, CA, Entrepreneur Press is a leading small-business trade publisher, providing aspiring, emerging, and growing entrepreneurs with actionable solutions to every business challenge — ultimately, leading them from business idea to business success.
Jason R. Rich is the author of more than 55 books, as well as a frequent contributor to numerous national magazines, major daily newspapers, and popular websites. He's also an accomplished photographer.

Read an Excerpt

Preface
Do you have a home or apartment with one or more extra bedrooms, or an entire property that you could offer as a short-term rental in order to earn extra income? Listing your property on a short-term rental service, such as Airbnb, allows people like yourself to become a travel host. If this type of part-time, money-making business opportunity seems appealing, or you want to learn more about it, Start Your Own Travel Hosting Business is the compressive, independent, unbiased, and informative how-to resource you need to read!
An ever growing number of travelers from around the world have begun looking for lower-cost and more convenient accommodation alternatives, as opposed to staying at a traditional hotel or motel during their vacation, leisure and/or business trips. As a result, online-based services, like Airbnb, FlipKey, HomeAway, Roomorama, and VRBO (Vacation Rental By Owner), have become extremely popular in recent years.

These services allow travel hosts (people like you), from all walks of life, to list their extra bedroom(s), or their entire home, condo, or apartment, as a short-term rental option for travelers. The popular short-term rental services help to quickly, securely, and conveniently match up travelers with hosts, and handle many of the related the financial transactions and reservation management responsibilities.

Depending on your geographic location, local laws and ordinances, what type of property you have to offer, the level of commitment you want to make as a host, and a variety of other factors, there are a variety of things to consider prior to becoming a travel host and choosing which short-term rental services to utilize.

Start Your Own Travel Hosting Business will help you quickly acquire the core knowledge you need to become a successful travel host, and help you maximize your revenue, while avoiding the most common pitfalls and mistakes that are often made by first-time hosts. You’ll also discover a variety of optional tools and resources that are at your disposal, and that will make handling your responsibilities as a travel host easier and less time consuming, while helping you to increase your revenue and dramatically improve your chances for success.
The primary focus of this book is on utilizing Airbnb as a travel host. However, much of the information you’ll discover applies when working with any short-term rental service. If you have an appropriate property to offer, and you’re interested in becoming a travel host, as you’re about to discover, there’s never been a better time to get started!

Table of Contents

Chapter 1 – Airbnb Has Changed the Way People Travel
What is Airbnb and other businesses like it?
How the service works.
What is a travel host, and how can someone generate an income from it?
What you need to get started.
Consider the safety and comfort of your family, pets, and property.
Overcome the biggest misconceptions travelers and potential hosts have about Airbnb and other hosting businesses.
Benefits of becoming a travel host.

Chapter 2 – Get Started as a Host
Deciding what you’ll offer.
Creating an account and listing.
Tips for composing an attention getting listing.
How to attract the type of guests you want to interact with, and who share a similar lifestyle.
Strategies for adding photography to your listing.
Top 10 amenities you should offer that will allow you to increase your nightly rate.
Promoting your listing and differentiating yourself from other hosts.
Taxes and legal considerations relating to becoming a host.
Insurance and security considerations.
Expert tips for composing and publishing a property listing, as well as insurance and security tips will be provided.

Chapter 3 – Preparing Your Property
Decorating and furnishing your property.
Creating a clean and comfortable living space.
Setting limits as to what areas guests can use.
Selecting the best selection of amenities to offer.
Cleaning and preparing for guests.
Choosing key entry door locks versus digital door locks with programmable codes. Other home security technologies worth investing in.
Setting your nightly price, plus how and when you’ll be paid.
Experts tips for preparing your property, decorating, choosing amenities to offer, and getting ready for guests.

Chapter 4 – Establishing the Rules for Your Guests
Creating a list of rules and expectations for guests staying at your property.
Sample rules, and how to politely present them to your guests.
Why rules and important, and how to enforce them.
What to do when rules are broken or trust is tarnished.

Chapter 5 – Best Practices for Communicating with Guests
Managing reservations.
Initial communications with potential guests via text messaging or email.
An in-person welcome.
Interacting with guests during their stay.
Strategies for improving your interpersonal and social skills.
How to offer additional customer service and amenities
Offering advice or serving as a tour guide for guests
Offering restaurant recommendations
Spending social time with your guests
Becoming knowledgeable about your city and what it offers to guests
Expert tips and strategies from experienced travel hosts.

Chapter 6 – How to Use the Airbnb Website and Mobile App as a Host
Step-by-step directions for navigating the Airbnb.com website and how to utilize the online-based tools available for hosts.
Step-by-step directions for using the Airbnb, Homeaway, or VRBO mobile app on a smartphone or tablet.
How and where to obtain the assistance you need.

Chapter 7 – How to Generate Extremely Positive Reviews and Repeat Guests
How to generate the best possible reviews from your guests.
Ways to generate repeat guests and positive word-of-mouth referrals.
Pitfalls to avoid when dealing with complaints and problems with guests.
Expert tips for avoiding the top pitfalls and problems many hosts encounter.

Chapter 8 – Managing Your Money and Reinvesting in Your Hosting Business
Additional tips for setting your nightly rate.
Additional tips for maximizing your nightly rate, based on amenities provided, location, earned reviews, and demand.
When and why it makes sense to reinvest income into your hosting business in order to acquire nicer furniture, higher-quality bedding, and improved guest amenities, so you can ultimately charge higher rates.
Additional tax tips from a Certified Public Accountant.

Chapter 9 – Other Related Services You Should Be Aware Of
Information about Airbnb competitors and similar services, as well as the pros and cons of using them.
Appendix A – Directory of Resources