Do you have an extra bedroom in your apartment or do you need to earn extra money? Opening your apartment as an Airbnb could provide you with more money to pay your bills or go on vacation. This simple yet convenient way to earn extra cash could be your solution to afford some of those extras in life.
What is Airbnb?
Airbnb is an online hub where you can list your space for others to stay or rent, whether it’s for a night or a month. At Airbnb, you have more flexibility and control over who rents your space, when you rent your space, and what amenities your guests can use. Airbnb is a good option when you need a quick and easy way to rent your space for the short or long term. To rent an Airbnb you must be at least 18 years old, so any guest you rent your apartment to must be the minimum age.
Can I Airbnb my apartment?
You are allowed to rent your apartment as an Airbnb in some cases, but you will need to prepare yourself first. Sharing your space is a great way to meet new people, earn extra money, and broaden your interests. However, there are several factors to consider before listing your apartment on Airbnb, such as whether your landlord approves it and your lease allows it.
How to rent your apartment as an Airbnb Apartment
If you are ready to rent your apartment through Airbnb, note that there are a few important steps to consider. By following these steps, you will be sure to follow local laws, follow the principles of your lease, and keep your landlord informed along the way.
1. Check your local laws
Before renting out your apartment as an Airbnb, it is important to protect yourself by knowing the laws, restrictions, and responsibilities that may be in place by your city, property management company, or landlord. First and foremost, you’ll probably need to know if it’s legal to turn that extra room in your apartment into a rental property.
Some local jurisdictions restrict or prohibit short-term rental accommodation.
- New York City, for example, has restrictions on apartment buildings stating that they are to be used only for permanent residential accommodation. This would eliminate the possibility of legally renting space in your apartment through Airbnb.
- In San Francisco, anyone wishing to do short-term rentals should speak to both the Treasurer’s and Tax Collector’s Offices and the City of San Francisco’s Short-Term Rentals Office before opening their doors as than Airbnb.
Other jurisdictions require the host to register their property for tax collection or regulatory purposes. Visit the Airbnb website for more information on legal requirements for major cities in the United States. If you are still unsure of the local laws or restrictions in your area, contact your local governance center for answers.
2. Know your lease
Take the time to read the fine print of your lease or rental agreement before registering your property as an Airbnb. You need to be sure that you are allowed to lease your space on a short term basis. If you violate the terms and conditions of your rental agreement, you can be evicted by your landlord. Make sure there is no limit to subletting your apartment or the number of nights a guest can stay. You may also need to receive written approval before renting your apartment through Airbnb.
3. Talk to your landlord
Airbnb strongly suggests that you speak to your landlord before accommodating guests, even if your lease explicitly states that this practice is allowed. It’s best to let your landlord know your intentions and work out all the details before signing up on Airbnb. Having your owner on board will not only protect your rental agreement, but also make the process much smoother.
If renting space isn’t allowed in your lease, your landlord or rental office may still be open to the idea. Create a clear, concise plan for things like how often you plan to rent and how many guests you’re willing to allow so that you can approach your landlord with a solid plan. Also, determine which equipment you will allow clients to use and which ones are prohibited.
If your landlord needs to be convinced to let you rent your apartment as an Airbnb, you can always offer to pay for additional liability insurance. Whichever route you take, make sure you have fully communicated with your landlord.
4. Start renting
Once you’ve read your lease and obtained permission from your landlord or rental office, it’s time to get started. You’ll want to start by registering your property. First, go to the Airbnb website and click on the sign up option.
Once you have created your free account, you will provide information about your apartment. The more information you provide about your rental space, the better. Be specific and specific with information such as whether tenants can cancel or request a refund if the property does not meet their satisfaction.
Then name your ad. Use descriptive words that will grab attention and add high quality images to showcase your property. Create your rental rules and requirements, which should include policies on noise, pets, parking, and any additional charges. After that, set your schedule and price. Rent your room as little or as often as you like for a price you think is fair and attractive. You can either set your price yourself or use the Airbnb pricing tool to help you decide how much to charge for your space.
If you are looking for an apartment you can Airbnb, search thousands of places. Remember to talk to your new owner and make sure you follow all local laws.