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  • Fulfill Your Hosting Dreams: Here’s How to Airbnb Your Property
    in General Discussion
    Posted Jul 21, 2023

    Fulfill Your Hosting Dreams: Here’s How to Airbnb Your Property

    The real estate and tourism industries in the Philippines are booming—and what better way to take advantage of this than by offering your property on home-sharing platforms such as Airbnb? If you don’t know how Airbnb works in the Philippines, it’s an online marketplace that connects travelers seeking accommodations and hosts looking to list their properties.

    The company has seen tremendous growth in the Philippine market in recent years. Plenty of users now prefer booking Airbnb accommodations over hotels, since the former offer cheaper rates and more personalized experiences.

    You can easily earn extra income when you become an Airbnb host. Got a property in a great location? This guide will show you how to start an Airbnb business in the Philippines.

    7 Questions to Ask Yourself Before Hosting on Airbnb

    While making extra money from Airbnb sounds like a good idea, you have to make sure it's the right decision before you dive in. Here are several questions you must ask yourself before hosting on Airbnb.

    💭 Do I Really Want to Start a Business?

    When it comes down to the basics, an Airbnb host is no different from an entrepreneur. You must put in the effort, time, and money to make it profitable and worth your investment.

    Just like setting up any business, you must take crucial steps, like conducting market research and creating a business plan, to ensure you're starting on the right foot.

    Related reading: Is Buying a Condo a Good Investment in the Philippines?

    💭 What are My Financial Goals?

    So you want to earn extra income from listing your space on Airbnb. First, must make your financial goal SMART: specific, measurable, achievable, relevant, and time-bound.[1]

    Are you looking to turn it into a full-time business that earns a steady income? Or do you just want to make some money on the side? Your goals will determine how much time and capital you need.

    If you want to turn your real estate investment into a steady income stream, then an Airbnb business might be right for you.

    💭 Do I Have the Time for It?

    Don't underestimate the time you need to run an Airbnb business, especially in the beginning. You'll have to manage listings and bookings, prepare your property for guest arrivals, and handle maintenance hands-on.

    These tasks alone can take a great deal of time. And once you've got everything down pat, you still need to be available to your guests for any emergency.

    Is your schedule flexible enough for you to perform all your duties as an Airbnb host? If you need help, can you trust someone to handle your responsibilities?

    💭 Is There Demand for Airbnbs in My Property's Location?

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    Location is everything in any real estate business. The same goes for Airbnb.

    Demand is high in popular tourist destinations in the Philippines, including Manila, Baguio, Boracay, Cebu, Davao, and Tagaytay. When performing market research, check if there's a demand for online short-term rentals in your prospective area.

    Related reading: How Can I Find Out How Much My Property Is Worth?

    💭 How Much Will I Earn from Airbnb Hosting?

    Of course, money is the most significant consideration when starting an Airbnb business. You want to ensure it will pay off financially before you invest your time and resources.

    To find out how much you can earn as an Airbnb host, use Airbnb's online calculator,[2] which provides a free estimate of your potential income. Enter your property's location and type. The Airbnb calculator will then show the amount you can earn monthly, depending on the number of nights you selected to have your property booked.

    Your earnings will still depend on many other factors, such as your pricing, the demand for Airbnb in your area, the season, and the occupancy rate. Still, the financial projection will give you an idea of whether listing your property will indeed earn profit.

    💭 How Much Will It Cost to Become an Airbnb Host?

    Aside from your potential earnings, consider the costs of starting and running your Airbnb business. Take the time to list down and compute the following expenses:

    • Cleaning, repair, and other maintenance services

    • Supplies (towels, linens, toiletries, etc.)

    • Appliances (TV, hairdryer, refrigerator, electric kettle, etc.)

    • Airbnb host service fee (typically 3% of the price per booking)

    • Bank transfer fee or any applicable processing fee for the payout

    • Income tax

    💭 Can I Meet the Airbnb Hosting Standards?

    To ensure high-quality service for guests, Airbnb asks all hosts to meet basic requirements:

    • Reservation commitment (no cancellations and reliable guest check-in experience)

    • Responding to inquiries and reservations within three days (if the stay is only five days away),

    • Responding close to check-in time and during the stay

    • Making sure the Airbnb listing is accurate

    • Ensuring the property is clean and safe from health and security hazards

    How to Be an Airbnb Host in the Philippines

    Whether you want to know how to Airbnb your condo or house in the Philippines, here's a walk-through of how to start an Airbnb business.

    Step 1: Sign Up for an Airbnb Account

    To list your property on Airbnb and accept bookings, register an account with the home-sharing platform first.

    Not sure how to register in Airbnb Philippines? Go to the Airbnb host login page[3] and click Airbnb Setup. Sign up using your phone number or your Facebook, Google, Apple, or email address. After creating your password, you can log in to your new Airbnb account.

    🏡 Prepare the Airbnb Registration Requirements in the Philippines

    Do you need a business permit for Airbnbs in the Philippines? Yes. Airbnb hosts must get a business registration from national and local governments (depending on the municipality, city, or province).

    You may be required to secure the following permits from your LGU:

    • Barangay Clearance

    • Mayor’s Permit

    • Sanitary Permit

    • Plumbing and Electrical Permits

    • Occupancy Permit

    • Fire Safety Insurance Certificate

    Step 2: Create a Listing

    After creating an Airbnb account, start listing your property. Provide information such as the location and the number of guests that can stay.

    🏡 How to List Your Space on Airbnb

    To create a listing on Airbnb, just follow these steps:

    Provide Your Property Details

    Enter and confirm the address of your property. Check that the pin is in the right spot.

    Then choose the options that best describe your home (house, apartment, cabin, farm, tiny home, etc.) and the type of place (entire place, a room, or shared room). Share some basics about your place, such as how many guests it can accommodate and the number of rooms, beds, and bathrooms.

    Your Airbnb listing description should be accurate and complete. The accuracy of your listing affects guest rankings—if guests find out that the actual place is not as described in the listing, they will undoubtedly mention that in their reviews.

    Write a Standout Description

    Highlight your property's best features on Airbnb. Briefly summarize your property, describing the place and emphasizing its advantages and unique features.

    Let your guests know what your property has to offer. Does it have Wi-Fi, a TV, a washer, air conditioning, a kitchen, free/paid parking, or a dedicated workspace? Are there special amenities like a pool, hot tub, fire pit, bbq grill, or piano? Does it offer lake or beach access?

    You want your guests to know it's safe to stay on your property, too, so make sure to mention if it has a smoke alarm, carbon monoxide alarm, fire extinguisher, and first aid kit.

    Add Photos of Your Place

    The first thing people see on the Airbnb app are the photos of properties—they make that lasting first impression. Choose the best pictures of your property and upload at least five of them on Airbnb.

    Provide high-resolution images, including wide-angle shots, to show what your place looks like. You can even avail of professional photography services to highlight the unique aspects of your property.

    If your property is far from picture-perfect, don't Photoshop your images! You'll be setting unrealistic expectations for potential guests, which might lead to bad reviews. Don't worry because you'll still attract many budget travelers who are just looking for a decent place to sleep.

    Give Your Property a Title

    Is it located near the beach? Does it offer a stunning sea, mountain, or city view? Is it near malls, restaurants, or the airport? Travelers love accessibility, so include such information in the property's title on the Airbnb app.

    Choose up to two highlights to help write your property description (peaceful, unique, family-friendly, stylish, central, and spacious). Some samples you can try include “Charming Secluded Cottage with Oceanside View,” “Brand-New Studio Unit near MOA Arena,” or “2-Bedroom Beach House with Beach Access.” Make it as descriptive, catchy, and accurate as possible.

    Step 3: Publish Your Airbnb Listing

    Before you hit publish, do the following:

    📌 Choose The Type of First Guest You'd Like to Host

    For your first reservation, pick between an Airbnb Guest (simply anyone with an Airbnb account) or an Experienced Guest (someone who already knows how Airbnb hosting works and what to expect from Hosts).

    📌 Set Your Price

    Set your price, which you can also change anytime. You'll see the base price, the guest service fee, the guest price before taxes, and how much you'll earn.

    As a first-time Airbnb host, start low. Check how much your competitors are charging in your location. You might have to initially offer your home at a price below its market value.

    https://www.moneymax.ph/personal-finance/articles/airbnb-host-guide

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