A crash course in making money through Airbnb

Airsorted know everything there is to know about hosting; within two years, they have expanded to four major cities and have earned their hosts more than €15m. Airsorted CEO, James Jenkins Yates, offers some advice for the uninitiated.

What exactly is Airbnb and how does it work?

Airbnb is an online platform that allows anyone to become a host and open their home to paying guests. Similar to a hotel booking website, guests can specify their destination and dates, and Airbnb will list all of the homes that are available. Guests can book someone’s entire home, or just a room or shared space within their home, and similar to a hotel, they pay a nightly rate.

Why would I put my home on this platform?

Airbnb is becoming more and more popular among homeowners (hosts). Primarily, the attraction is the additional income that hosts can earn. As a result of the booming tourism trade in Ireland, coupled with a severe shortage of hotel rooms in Dublin centre, Airbnb offers hosts an opportunity to earn an attractive rent for their property through guest bookings. Airsorted hosts are seeing a surge in the nightly rates that they can charge during peak public holidays and high summer season as a result of tourists arriving in their droves.

Hosts are also attracted to the flexibility. As a host, you can open your home to guests only on days that it suits you to host them. Some Airsorted hosts put their homes on Airbnb when they are away on holidays. Others have an apartment in Dublin that they need to use from time to time, and instead of it being vacant, they are renting it out to short term guests when they are not there. Other hosts use Airbnb as an interim income stream when they are putting their home on the market.

Is it risky to open my door to strangers?

Whenever an Airbnb guest stays at a property, both the guest and the host can review each other. This review is public and it remains on their Airbnb profile. Therefore, many guests have at least a few reviews that will give you an indication of whether they will respect your property or not. There are also additional verification checks that you can request, and rules that they agree to before arriving. Similar to having a longer-term tenant, challenges can arise but are rare. However, the benefit of Airbnb is that problematic guests are easier to get rid of than problematic tenants.

Airbnb hosting sounds simple - how can I do it?

Signing up as a host on the Airbnb platform is relatively straightforward. What happens next can be more challenging. You must create a listing for your property, including setting your pricing and availability settings, write a compelling description and take attractive photographs. As soon as it is up and running, you must constantly respond to booking enquiries, understand how to vet guests, arrange key handover, make sure the property is always clean with fresh linens, be on call if issues arise, and write reviews once they leave. This is hospitality so it is not a nine-to-five, Monday-to-Friday job. To really succeed on the platform and attract guests, it is a 24/7 business, with weekends and holidays your busiest times.

I’m already very busy - is there an easier way?

Airsorted was founded to help hosts. Airsorted provides a comprehensive Airbnb management service for unavailable or absent homeowners, perfect for those who already have a packed schedule, or who are travelling or working abroad.

Airsorted’s business is to make it hassle-free, doing everything from listing creation to guest communications, and cleaning to check-ins - a purpose-built pricing algorithm also ensures maximum occupancy. The charge for the service is 15 per cent of your net Airbnb revenue. In return, hosts can access all of the benefits of the platform such as flexibility and increased income, with none of the headaches that come with being on call.