More and more people are turning to Airbnb as a source of extra income.
At Credit Card Compare, they help us to understand how to become an Airbnb host as well as the benefits of managing your property with a credit card!

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Becoming an Airbnb host is simple. Simply follow these five easy steps.

  1. Decide whether you will hire out your entire home or apartment, a single room, or multiple rooms.
  2. Create a list of all the features and benefits of your property or room.
  3. Research the market.
  4. Set your price.
  5. Set-up your Airbnb listing now

 

There are plenty of benefits to becoming an Airbnb host and getting that second source of income flowing in.  Let’s take a look at why being an Airbnb host might be right for you.

  • The biggest pro for most people is the extra money you can earn.
  • You could use the extra income you earn to complete renovations or upgrades to your existing home. A win-win, since you benefit from the upgrades and it may be partly tax-deductible too.
  • It’s a low-cost way of advertising your room/home when compared to other forms of marketing and advertising.
  • Your guests are often barely using their room/accommodation. There is a chance you will attract people who simply need a comfy bed for the night. During the day they are out exploring the sights, working, or perhaps attending a conference.
  • You can read reviews about your guests and find out more about them before you let them book your room/home.
  • Airbnb provides a guarantee whereby your property is protected from any damage caused by guests (in case something happens to go horribly wrong). You are also in control of being able to reduce your risk of this occurring.  Airbnb allows you to set your own house rules which can help act as a way to attract the kind of guests you are after. So you could set a rule that there are to be no parties after 8pm, or you could make a rule that it is a no smoking property.
  • The flexibility of blocking out dates when you may need the room or home for your own visitors, yourself, or just because you’d like some quiet time with no guests.
  • No need for clunky booking systems. Airbnb takes care of the booking process for you, making it much quicker and easier.
  • Airbnb makes it easy for you to know how to price your property, by providing a demand forecast tool. This is on a destination basis so you know when the high demand and low periods are within the year. Allowing you to maximise dates available, and therefore financial returns, when at the peak of demand.

 

When hosting an Airbnb, you can use your credit card to pay for a number of expenses relating to the hosting of your property. By using your credit card to purchase these items you can easily track them for tax purposes, and can also maximise the benefit of accumulating points linked to your credit card. Win-win.

 

For cash to help you get your room or house ready for AirBnb, simply apply here for a fast cash loan

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