Since its launch back in August 2008, it is fair to say that Airbnb has transformed the way that many of us seek out good-value accommodation for our trips and holidays across the globe.

The concept has become hugely popular and considering the company’s success, it is perhaps unsurprising that the organization recently revealed plans to go public with an IPO at some point during 2020. However, if you’re thinking about embracing the Airbnb revolution and renting out a property, how do you get started with going about it? Here we offer up a few tips on how you can create a successful Airbnb operation.

1. Get the basics right

Regardless of the space or property you are looking to rent out, it is important to understand the basic requirements that the marketplace expects all hosts to meet. As Airbnb outlines, these include being responsive to booking inquiries, accepting reservation requests, avoiding cancellations and working to maintain a high rating on the site.

2. Consider insurance

Insurance is always important when it comes to owning or managing a property and if you’re running an Airbnb you may want to consider whether to get general liability insurance for business. As Next Insurance explains, such policies tend to cover you in the event that you have to pay damages to a third party, so it is wise to seek advice and ensure you have the right protection in place.

3. Be responsible

Airbnb likes its hosts to be responsible and actually offers region-specific guidance to property owners across the world on key factors to bear in mind. Those hosting in the US are urged to consider a number of issues, including emergency procedures, informing guests of any key parking or building rules and addressing local regulations like permits or taxes.

4. Offer great amenities

Research by IPX1031 put a spotlight on the key things that guests want from their Airbnb, with WiFi being regarded as the most important amenity that a property can feature. Other elements that people like including air conditioning and free parking, while some even want access to a coffee machine and streaming services like Netflix.

5. Give local pointers

If you’re keen to add a personal touch to your property, why not offer up some suggestions to guests about local attractions to check out? A few ideas on great places to eat, sights to see or even things to do off the beaten track can really help people get to know where they are staying. Not only that, it is the kind of thing that people are likely to appreciate and remember for a long time.

Hugely rewarding

Embracing Airbnb and renting out properties or space to people can be hugely rewarding. It not only ensures that a house or apartment is being used to its full potential, but it also means you can earn a little bit of money in the process.

The ideas above will hopefully give you some food for thought on how to make a strong start in the world of Airbnb and ensure that your guests always feel right at home.