Airbnb For Dummies

Title Page
Copyright Page
Table of Contents
Introduction
	About This Book
	Foolish Assumptions
	Icons Used in This Book
	Where to Go from Here
Part 1 Getting Started with Airbnb
	Chapter 1 The Lowdown on Airbnb, Just the Basics
		Looking at the Big Picture
			The sharing economy — putting underutilized resources to use
			Understanding what short-term rentals are
			Knowing what you need to host
		Recognizing the Benefits of Airbnb as a Platform Compared to Its Competition
		Answering Common Questions That You as a Potential Host May Have
			Why would I allow strangers into my house?
			Is it safe to host on Airbnb?
			Is my property suited for Airbnb?
			Is it legal to host?
			Am I suited to host on Airbnb?
			What if a guest gets hurt?
			What is the difference between couch surfing and Airbnb?
	Chapter 2 Hosting on Airbnb: What It Really Means
		Having a Hospitality Mind-Set — What It Takes to Be a Host
			Opening your heart and your home to guests
			Establishing trust through transparency and dependability
			Keeping your place clean and well equipped
			Delivering on (rising) expectations
			Setting up systems so your guests have a unique stay
			Adding a touch of personal magic
		Before Becoming an Airbnb Host: What to Consider
			Being aware of your hidden expectations
			Inviting strangers into your home
			Making the commitment
			Looking at how technologically savvy you are
			Being aware of how your decision to host affects others in your life
			Determining the type of host you want to become
	Chapter 3 Determining Your Profit Potential
		Decoding How Much You Can Really Make on Airbnb
			Starting with national averages
			Your location mostly determines your Airbnb profit potential
		Researching Your Airbnb Market: Earning Statistics
			Finding the crucial market statistics
			Understanding the market deeper
		Determining the Size of Your Pie
			Factoring operating expenses
			Estimating time commitment
		Comparing the Big City versus Rural
			Earning a profit in any market
			Adding more Airbnb listings without purchasing property
		Determining the Legality of Hosting in Your Market
			Being aware of the potential risks of Airbnb hosting
			Finding out what laws or restrictions apply to you
Part 2 Putting the Spotlight on Your Listing
	Chapter 4 Preparing Your Property for Airbnb
		Creating Profit Potential with Your Property
			Maximizing the potential of your listing by optimizing your space
			Starting your listing off strong
		Determining the Amenities Guests Want in Your Market
			Identifying the types of amenities to include in your listing
			Looking at your competition to better gauge what guests want
		Focusing on Which Amenities, Furniture, and Appliances to Include
			Focusing on the must-have amenities
			Remembering the often forgotten
			Stuck between a must-have and a nice-to-have
			Providing a bonus: The nice-to-haves
			Surprising with the outstanding
			Avoiding the wastes of money
		Figuring Out What Space Is Accessible to Guests in Your Listing
			Bedroom and bathroom
			Kitchen
			Access to living room, outdoor spaces, and other rooms
		Managing Neighbors’ Relations
			Being a good neighbor: Why doing so is profitable
			Investing in neighbor relations before you start
			Communicating with your neighbors
		Managing Landlord Relations
			Being aware of the risks of hosting without consent
			Asking your landlord if you can host on Airbnb
			What landlords want to know when it comes to hosting
			Pitching your landlord
		Getting Proper Insurance Protection
			Grasping the importance of being properly insured
			Understanding Airbnb’s liability protection and not relying on it alone
			Buying your own insurance to ensure you’re fully protected
		Being a Guest First to Better Understand Hosting — Walk in Your Guests’ Shoes
	Chapter 5 Building the Perfect Listing
		Making a Strong First Impression
		Creating a Listing That Gets Attention
			Winning at Airbnb search engine optimization
			Identifying the most important pillars when setting up your listing
			Understanding how to play the long game to perform better
		Writing a Strong Headline
			What makes a great headline
			What you need to know in order to draft a top-notch headline
			How you can write your own headline
		Drafting a Great Description
			What to include in your listing description
			Organizing your listing for success
			Keeping the goal in mind (more bookings)
		Setting House Rules
			Knowing what to cover and why
			Enforcing your house rules successfully: The how-to
		Choosing a Cancellation Policy
			Identifying the six cancellation policies
			Selecting the policy that’s right for you
		Determining Appropriate Fees
			Cleaning fees
			Security deposit
			Additional guest fees
		Turning on Instant Book: The Pros and Cons
	Chapter 6 Making Your Listing Shine with Photography
		Setting Your Photo Strategy
			Understanding why photos are so important
			Analyzing which photos perform best and worst
			Hiring a professional photographer: Why doing so is a smart decision
		Staging Your Property for Photos
			Realizing why property staging is key
			Staging your space like a pro
		Getting All the Shots
			Mixing it up: From wide to detailed to closeup shots
			Having a photography checklist
		Working with Your Photographer to Get Great Photos
			Lighting the shot
			Composing the shot
			Getting the proper exposure
		Identifying Tips and Tricks Used by Top Listings and Superhosts
Part 3 Uncovering Important Pricing Essentials
	Chapter 7 Setting Your Listing Pricing
		Focusing on Baseline Pricing
			Studying your competition: Gather comparable market data
			Choosing a baseline pricing strategy
		Ramping Up to Baseline Pricing
		Understanding and Adjusting for Seasonality
		Factoring in Temporality and Special Events: Going from High to Low
		Using Dynamic Pricing: Yes or No?
			Underperforming with Airbnb’s Smart Pricing tool
			Aligning incentives with third-party dynamic pricing tool
		Setting Other Types of Fees
			Setting the cleaning fee
			Setting the extra person fee
			Setting the security deposit
			Lowering the barrier to booking
	Chapter 8 Increasing Your Profit Potential
		Leaving Money on the Table
		Picking the Low Hanging Fruits First
			Having a great listing profile
			Delivering 5-star guest experiences consistently
		Reducing Operating Costs
			Recognizing where to take special care when cutting cost
			Strategizing your cuts
		Spending Smart: Best Purchases That You Can Make Now for Profits Later
		Increasing Booking Revenue
			Boosting occupancy rate
			Raising average nightly rate (ANR)
			Expanding listing availability
			Doing all three: Yes or no?
			Considering the four scenarios of Airbnb listing performance
			Charging a premium over competition
			Using dynamic pricing to take out the guesswork
		Maximizing Overall Revenue Potential
			Improving your offering to increase revenue potential
			Increasing occupancy capacity
		Creating Additional Revenue Sources
	Chapter 9 Going on Cruise Control and Still Making Money
		Choosing Sanity over Profits: Steer Clear of Burning Out
			Figuring out what you can handle
			Minimizing your time and stress is just as important as maximizing profits
			Thinking about your hosting like a business
		Identifying What You Can Eliminate
		Automating to Make Your Life Easier
			Automating check-ins
			Automating pricing
		Outsourcing Different Tasks
			Outsourcing guest communication
			Outsourcing guest reviews
			Hiring a pro for cleaning
			Hiring a professional property manager
	Chapter 10 It’s a Bird, It’s a Plane. . . No. . . It’s a Superhost!
		What Makes a Superhost: Putting the Guest First and Foremost
		Meeting Superhost Requirements
			Becoming a Superhost: The how-to
			What you can do to reach Superhost status
		Maintaining Superhost Status
			Your response rate
			Your cancellation rate
			Your overall guest reviews
		Losing Superhost Status and Bouncing Back
		Eyeing Superhost Alternatives: Business Travel Ready and Family Friendly
Part 4 Mastering Your Guests’ Experience
	Chapter 11 Comprehending What Being a Good Host Means
		Understanding the Guest Search Experience
			Looking at the steps to reach booking
			Eliminating friction from the booking process
		Identifying the Fundamentals of Guest Satisfaction
			Recognizing the factors that can affect guest satisfaction
			Being realistic
		Creating Your Guest-Centric Plan
			Minimizing guess stress with a guidebook
			Creating pleasant little surprises
		Catering to Your Ideal Guest Type
			Business travelers
			Senior travelers
			International travelers
			Families with young children
			Young travelers
			Pet owners
			Sanctuary seekers
	Chapter 12 Creating a Seamless Check-In Process
		Communicating Check-In Information with Guests
			Sending messages to your guests prior to check-in
			Preventing potential issues before check-in
		Preparing for Your Guest Check-In
			Getting your property ready for check-in
			Getting yourself ready for the check-in
		Handling the Check-In Process
			Doing in-person check-ins
			Doing a remote self-check-in
			Handling early arrivals
	Chapter 13 Continuing a Stress-Free Guest Stay Post Check-In to Check-Out
		Setting the Tone for Your Guests’ Arrival
		Ensuring Your Guests Enjoy Their Stay
			Understanding why guests won’t voice complaints directly
			Opening communications with guests
			Keeping a guest book for guests to sign
			Going the extra mile for your guests
		Ensuring a Smooth Check-Out
			Planning your check-out
			Doing remote check-outs
			Doing in-person check-outs
		Knowing What to Do After Guests Leave
			Assessing the state of your property
			Filing a claim with Airbnb
			Following up with your guests
			Blocking out a day or two before and after reservations for preparation time
		Managing and Responding to Guest Reviews
			Understanding the nature of Airbnb’s positive leaning reviews
			Responding to positive guest reviews
			Minimizing the occurrence negative reviews
			Minimizing the impact of negative reviews
			Reviewing your guests in return
	Chapter 14 Upkeeping Your Space to Keep the Reservations Coming
		Maintaining Your Space to Ensure Long-Term Success on Airbnb
			Smoke and carbon monoxide detectors
			Doors and windows
			Heating ventilation and air conditioning (HVAC)
			Water heating
			Other aspects to consider
		Cleaning Your Space — The No. 1 Biggest Headache
			Mastering the turnover
			Checking for damages
			Restocking consumables
			Restaging rooms
			Identifying what needs to be cleaned in a turnover: Your handy checklist
			Systemizing the cleaning process
		Using Professional Cleaners
		Having a Cleaning Backup Plan in Place
			When you may need a backup
			What to include in your backup
Part 5 Taking Your Airbnb Hosting to the Next Level
	Chapter 15 Elevating Your Hosting Game with Airbnb PLUS
		Knowing What Airbnb PLUS Is
			Recognizing what an Airbnb PLUS listing looks like
			Identifying the benefits of Airbnb PLUS
			Identifying the drawbacks to PLUS
		Becoming Airbnb PLUS Certified: The How-To
			Identifying PLUS potential
			Applying for Airbnb PLUS
	Chapter 16 Exploring the Many Nontraditional Listing Opportunities
		Understanding Nontraditional Listings
			Knowing when to consider nontraditional
			The advantages of going nontraditional
			The disadvantages of going nontraditional
		Going Small to Earn Big
		Looking at the Many Ways to Go Small
		Crafting a Story for Guests
	Chapter 17 Subdividing Your Airbnb
		Understanding What Subdividing Your Airbnb Means
			Recognizing the upsides to subdividing
			Understanding the downsides to subdividing
		Determining When to Subdivide
		Diving into Subdivisions Economics
		Adding an Accessory Dwelling Unit (ADU)
			Advantages of accessory dwelling units
			Disadvantages of accessory dwelling units
	Chapter 18 Hosting without a Property through Airbnb Experiences
		Introducing Airbnb Experiences
		Considering the Advantages and Disadvantages to Hosting an Experience
			The advantages of hosting an Experience
			The disadvantages of hosting an Experience
		Understanding the Keys to Successful Experiences
			Knowing your target audience
			Creating a meaningful story
			Engaging and immersing the guests
			Choosing the ideal location
			Building and sustaining momentum
			Making the economics work from day one
		Brainstorming Unique Airbnb Experience Concepts
			Using the mix-and-match strategy
			Capitalizing on a growing trend
			Going extreme
			Going weird and one of a kind
		Submitting Your Airbnb Experience for Approval
			Understanding Airbnb’s three pillars of quality Experiences
			Preparing to apply
			Filling out the application
			Getting approval
			Reapplying when rejected
		Looking at the Future of Airbnb Experiences
Part 6 Tackling Important Money Matters
	Chapter 19 Understanding Airbnb Taxes
		Getting Serious about Taxes
			Knowing how Airbnb income is taxed
			Asking the important questions
		Taking Account of Your Airbnb Earnings
			Deciphering the gross earnings report
			Getting tax forms from Airbnb
		Taking Account of Your Airbnb Expenses
			Understanding deductible expenses
			Comprehending capitalized expenses
			Knowing what deductible expenses to track
			Knowing what documents to keep
		Exploring Recent Tax Law Changes
			Deducting 100 percent bonus depreciation on personal property
			Getting the 20 percent pass-through deduction
	Chapter 20 Making Big Bucks as an Airbnb Co-Host
		Co-Hosting: What It Actually Takes to Manage Other People’s Listings
			Understanding the basics of co-hosting
			Considering co-hosting: Is it right for you?
			Identifying the benefits to co-hosting
			Running your co-hosting business through a legal entity
		Scaling Your Income through Co-Hosting
			Starting to co-host: The how-to
			Turn hosting for others on autopilot
			Growing your co-hosting business to your desired level of income in record time
Part 7 The Part of Tens
	Chapter 21 Ten Tips to Be a Better Host
		Research Your Market before Hosting
		Become a Guest First
		Invite But Never Impose
		Offer More than Promised
		Touch Base with Your Guests Regularly
		Use Tiny Helpful Labels
		Always Have Extra Supply
		Use Action Shots in Your Photos
		Disclose and Highlight Potential Negatives Up Front
		Measure Return on Time
	Chapter 22 Ten Best Purchases for Hosts
		Futon Couch or Sofa Bed
		Floor Mats for Every Entrance
		Shoe Racks
		Universal Phone Chargers for Every Room
		Large Capacity Appliances
		Storage Lockers with Locks
		High Quality Mattress and Linens
		Smart Locks
		Automation Tools
		Better Coffee Options
	Chapter 23 Ten Ways to Increase Your Earnings
		Putting Your Best Listing Forward
		Asking Guests to Leave Reviews
		Tailoring Amenities to Your Audience
		Offering Add-On Goods and Services
		Using Appropriate Pricing
		Hosting More Listings
		Listing an Airbnb Experience
		Thinking Long Term
		Renting Something Else
		Avoiding Catastrophic Losses
Index
EULA