Business Overview

An Airbnb business supplies guests with a place to stay within a person’s home. Many travelers are looking for lodging which is a little more personal and unique. Airbnb rentals offer a home feel, versus that of a hotel or motel. Guests may stay as short as one or two days or extended stays up to two weeks.

Who is this business right for?

An Airbnb is a great way to add some extra income, especially if you have unused rooms or lots of space in your house. You will have guests staying in your home, so you should be comfortable talking and interacting with guests. Some homeowners, who travel often, will also rent out their homes when they are out of town. This allows them to receive income and have someone watching their home when they’re not around.

What happens during a typical day at an airbnb business?

Airbnb businesses are very popular right now, so demand is fairly high. Once you are registered with Airbnb and have listed your space, you will begin to see requests from potential renters. Your job will be to manage the rental requests, interact with potential customers, and make your rental space as hospitable and customer ready as possible.

  • Advertise your space through your pictures and descriptions on the Airbnb site.
  • Be detailed in your listing and discuss all of the pros (and potential cons) of your space.
  • Take clear pictures which show off the space, yet also let customers know exactly what to expect.
  • Research surrounding rentals to learn what customers like and don’t like. Read the reviews, as well, and understand your customer base.
  • Clean the space regularly and update with modern amenities, whenever needed.
  • List nearby attractions, events, and activities for potential renters.

You want to be a good host, yet unobtrusive at the same time. By explaining much of the particulars up front, you will have given your guests much of the information they need before they arrive. Once they are staying, be available, yet respectful of the renters and rental space.

What is the target market?

Typical customers for Airbnb spaces are looking for a more personal touch than a hotel/motel. They may also be looking for a space in an area which doesn’t have hotels available. Most customers are looking for a brief stay, usually between 2 and 5 days. For renters who offer their entire home, the clientele may be groups staying for special events, such as business trips or seminars, large sporting events, or music/concert events in the area.

How does an airbnb business make money?

Airbnb renters make money through the rental of rooms in their house or the whole house. Renters will pay a daily rental fee. Some renters may choose to charge different rates for weekdays and weekends or for extended stays versus a few days.

What is the growth potential for an airbnb business?

Airbnb rentals are fairly popular currently and seem to be gaining popularity daily. Many renters have moved to Airbnb rentals over the traditional tenant/landlord situations. The profits for Airbnb rentals are larger than annual/semiannual rental agreements and the wear and tear of the space is often significantly diminished.