Your earning potential is limitless if you become an Airbnb host in Vancouver. All you need is spare space, and you can earn as much as you can at any time of the year.
Just in case you haven’t heard, Airbnb is an “in” thing these days. In fact, Airbnb hosts are becoming very in demand! Well, that is not surprising though because travelers (both local and international) nowadays are more practical than the ones before.
They now look for practicality over anything else. Needless to say, the price of Airbnb hosts are definitely way cheaper compared to most hotels.
For most of us, our home is our sanctuary. It’s a place where we can be alone, we can be free and do whatever we want, and more. There are times when you do not even want your family members to be around – so how much more the idea of having other people around.
Yes, Airbnb is exactly what you think it is. It is allowing other people (as in strangers) to stay at your home for a price. If you are the kind of person who is very keen on privacy, the thought of renting out space in your home or your entire home for that matter to other people can be very daunting.
However, if you are somewhat willing to take the risk, to be honest, there really is a very serious chance of earning bucks of money when you become an Airbnb host in Vancouver.
As we said, you can either rent out a spare room (like your guest room) or you can opt to rent out your entire home (when you are out for a vacation or if in case you have an extra apartment unit that is not being rented out) to tourists for the right price.
Just in case you do not know Vancouver is listed as one of the top summer travel destinations not only in Canada but all over the world. No wonder why there is an increasing demand for Airbnb hosts in the area. Needless to say, those who have been listing their spaces for a long time now have earned hundreds of thousands, if not, even millions in just a year.
Now, how is that as a good come-on statement, right?
Before we move further in discussing how to become an Airbnb host in Vancouver, let us share with you first some basic information that every newbie should know – particularly those who are not well-aware of this platform yet.
WHAT IS AIRBNB?
Airbnb is an online platform wherein you can arrange or offer to lodge to other people – local and international tourists alike – primarily homestays or for tourism experiences. It basically acts as a broker between renters and hosts. The company does earn by receiving a commission from every booking made.
Airbnb began its operations in 2008 and has eventually emerged to how it is today – being used, and if we may say, the most preferred platform that travels used when finding a place to stay wherever they are going to in the world. Yes, Airbnb is present in almost every area in the globe.
In fact, Airbnb boasts having more than 260 million guests who have stayed and booked in different Airbnb properties all over the world. Furthermore, recent statistics show that Airbnb has more or less 150 million users covering over 65,000 cities worldwide.
WHY YOU SHOULD BECOME AN AIRBNB HOST?
We can run down a lot of reasons why you should consider becoming an Airbnb host, but to simply put it, Airbnb allows you to earn extra money with having to invest anything –
Well, if you keeping your space clean, presentable, and being a welcoming and friendly host are considered as investment, then that’s just it! That is all you need to have and to be.
Becoming an Airbnb host is pretty simple. In fact, it does not even require any membership fee! So, yes, you do not need to spend anything just to start renting off your space to local and international travelers or tourists.
We tell you, the earning potential of being an Airbnb host is limitless. So, if you are someone who wishes to earn extra money without having to work on a day job or in an office setting, well then, this is definitely one of the things you may want to consider getting yourself into.
Before move on, in this video by STR University, Richard, founder of Short Term Rental Secrets shares the five things he wishes he knew when before he started renting out on Airbnb. This will surely help you if you wish to become an Airbnb host in Vancouver:
WHY YOU SHOULD BECOME AN AIRBNB HOST IN VANCOUVER?
While this may be beneficial to anyone who is thinking about becoming an Airbnb host, we are in particular focusing on encouraging possible Airbnb hosts who are living in Vancouver to try out and be a host especially if you have spare space.
You are probably wondering why Vancouver? Well, as we mentioned earlier, Vancouver is one of the most go-to places during summer, and actually, even all throughout the seasons!
With that said, it opens a lot of earning potentials to those with extra spaces at home by simply becoming an Airbnb host!
In an article published by Global News, it says that this 2019 alone, between May 24 and September 2, Airbnb has recorded about 224,000 guests who have stayed in Airbnb listings in Vancouver. Furthermore, the Airbnb hosts in the city of Vancouver have earned $62 million this summer alone.
You see, the earning potential is high for hosts living in Vancouver.
HOW MUCH MONEY COULD YOU EARN AS AN AIRBNB HOST IN VANCOUVER?
How much you earn as an Airbnb host in Vancouver depends a lot on you. You have to be creative, and you got to learn some strategies to get ahead of your competitors. For instance, you have to look into the amenities available for your guests. What do they get when they book at your place? Are their basic toiletries? Welcome drinks and chips?
Apart from these, as part of your strategy, if you are in a location near tourist spots, you have to highlight those in your listing. People would clamor for a space that is near tourist attractions. So you better look into that as well.
Now, to be more technical, if you are unsure about how much you are going to charge for your space, you may use the Airbnb calculator so you can get an idea.
HOW TO CREATE AN AIRBNB LISTING IN VANCOUVER?
Actually, regardless of where you are in the world, be it in Vancouver or anywhere else, the process of becoming an Airbnb host is almost just the same. You will have to create an account and list your property or space on Airbnb.
However, there is one thing that separates Vancouver from the rest. The City of Vancouver requires Airbnb hosts to get a short-term rental license. According to the City itself, short-term rental refers to an entire home or a bedroom within a home that is rented out for less than 30 consecutive days at a time, which basically covers Airbnb listing.
According to the City’s Bylaw, bed and breakfast accommodations and hotels are considered different from short-term rentals like that of Airbnb.
Now, if you think the process is tedious or stressful, according to current Airbnb hosts in Vancouver, obtaining a license is actually not hard as you think as it is quite straightforward.
The application is actually available online. Once they receive your application, it will be reviewed, and once approved, you get to receive your license immediately. Now, once you got the license, you are to ready to start your Airbnb hosting journey!
Now, let us proceed to a more thorough process of creating your Airbnb listing in Vancouver.
Here is how to create the best Airbnb listing in Vancouver:
Create an Airbnb account.
As we mentioned, once you got your license, it is time to get into the real thing. You can now become an Airbnb host in Vancouver! How exciting that is, right?
Anyway, to kick-off, you have to first download the app or access it through their website. Then, you create an account! You simply have to fill in all the necessary information to complete the registration process.
Answer questions about the space and the available amenities.
As part of setting up your listing on Airbnb, you are required to answer some basic questions about the space you will be renting out. The questions include the amenities available, as well as the number of guests your space can accommodate.
You know, there are cases when hosts are discouraged to continue when they can’t rent out the entire place. But you know, you really don’t have to be! You know why? Because Airbnb welcomes all kinds of listings! When we say anything, we mean whatever available space you have – whether it be an extra bedroom, an apartment, a campsite, a yurt or even an RV! You see, it is open for any space – as long as your local laws allow it (which you will have to check).
Just to give you an example, we have a friend who is residing in Vancouver. Last year, she decided to list one of her home’s bedrooms to guests, and guess what!? She is earning big time! It was just a simple guest room that she decorated to make it look more pleasing and relaxing. She used beautiful linens and instead of a single bed, she purchased a double deck and added a sofa bed so it can accommodate two to three persons. Remember, just be creative and strategize. Here’s the thing, the more people you can accommodate, the better because that means you get to earn higher.
Take beautiful photos.
Let’s admit it, people choose the place to stay based on what they see. Just to share, people nowadays especially millennials are more into graphics and images rather than texts. What do we mean by that? Well, the more enticing the photos, the higher your earning potentials are.
Now, if you do not get what we mean, do this. Imagine yourself as the guest, what would you want to see in the photos of an Airbnb listing for you to book it? From there, you list down your ideas, and then, invite friends who are good at photography or you can do it yourself.
We suggest you set the scene on how you want your guests to see it once they arrive. Never do false advertisement, which means, avoid showing something to your guests on photos and then not offer it in reality.
While we suggest inviting your photography-enthusiast friends over to take photos for you, we highly recommend commissioning someone who can really show the best of what your room can offer. For instance, people already know how a bedroom looks like, so instead of focusing on the bed and linens, you showcase another angle instead. Focus on displaying the ease and comfort that the room offers to the guests.
If you do not have a budget for a professional photographer, you may check Airbnb as they also offer basic photos tips like utilizing natural light, avoiding shooting in landscape mode or using flash, and more.
Think about what makes the room or the entire space and the location appealing and show it through photos. Apart from the space itself, you may also include photos of the nearest tourist spots or famous and delicious food places.
Write down an appealing description.
Once you are done with your photos, the next thing to do is to write down an appealing description. When writing your description, take into consideration writing and highlighting the things that make your space or place one of a kind.
If have no idea where to start or how to do it, you may take time to take a look at other Airbnb listings particularly those that are being sought after. Study how they wrote their descriptions, and get inspiration from there as you make your own.
If you are not good with writing, you can always ask friends who write well to do it for you for free or commission them.
In our opinion, the best Airbnb listing description is the one that answers questions even before the guests could think of them. Also, keep in mind that when writing descriptions, you have to include where you are located, what are the nearest landmarks, tourist attractions, as well as food hubs. You also write down the amenities, what guests are allowed to access, the complimentary items included, as well as your availability as a host.
Name your listing.
While this may sound basic, but in reality, naming a list is just as important as nailing your photos.
Airbnb encourages hosts to come up with a name list that highlights what is exceptional about the space. So, yeah, think about what makes it unique and write it down as a title. It has to be catchy, yes, but it has to be real. Do not use the word cozy, for instance, if after all, your space is not cozy. Do not deceive your guests.
Come up with a set of house rules.
You can either use the list of rules that Airbnb has set, or you can create your own. Some of the most common house rules include:
– Pets are not allowed.
– Smoking is strictly prohibited.
– Events or parties are not allowed (or you can just state a time that is acceptable in respect to the neighborhood).
You can also include asking your guests to always keep the space tidy to help preserve the cleanliness of the space.
Set up your Airbnb calendar.
To become an Airbnb host in Vancouver or anywhere else in the world, you have to be efficient. One of the ways to show your efficiency is to ensure that you have set up an Airbnb calendar. Actually, this is a very essential part of the whole process.
The calendar is customizable. Make sure that as you create your calendar, you take everything into consideration. Please note that Airbnb charges you whenever you cancel a guest’s booking.
Set your price.
When it comes to pricing your space, Airbnb does have a Smart Pricing too, which enables you to automatically adjust the price of your listing based on demand. One example is when the Vancouver International Film Festival is happening, the demand gets high, and so it is likely for the price of your space to increase.
You also may opt to set price minimums as well as maximums to ensure that your listing will not dip below a specific amount or increase unrealistically. To help you determine the numbers, you have to take into consideration your expenses like utilities, cleaning fees, as well as maintenance requirements of the space. You also have to be realistic as people sometimes tend to have an inflated view of the space, or you may also take a look at other listings within your area and set a price a little lower than those.
Familiarize with local laws and other possible rules.
We already tackled this a while ago, but we just find it necessary to include it here. Make sure you familiarize yourself with your local laws to avoid future problems. To become an Airbnb host in Vancouver or in any place for that matter, you have to abide by the local law.
Just so you know, the city of Vancouver fines operators who are not following the rules and standards for up to $1,000 per offense or subjecting offenders to legal action specifically for the following:
– Those operating without a valid license
– Those listing or advertising their spaces without displaying their valid license
– Those operating a short-term rental in a place that is not your primary residence
– Those operating a commercial space as a short-term rental space
– Those who offering rental space that is considered unsafe or a nuisance property
Late renewal of a license may also cost you an additional 10% of the license fee or $40, or whichever is higher.
If you are just renting out space too, you also have to inform and ask permission from your landlord. If you live in a village, you may also have to check the rules of the homeowners association. The earlier you check these all out, the better as it will save you from future issues.
FINAL THOUGHTS ON BECOMING AN AIRBNB HOST IN VANCOUVER
There you have it. We hope we were able to share something with you and hopefully encourage you more to become an Airbnb host in Vancouver or even outside of this city.
Trust us when we say, Airbnb does really have a lot to offer only if you allow yourself to explore this option.
If you have a spare space at home or a property that you hardly used, we highly recommend listing it down on Airbnb. You will be amazed at how much you can earn from being an Airbnb host.
So, do you want to become an Airbnb host in Vancouver now, and get limitless earning potentials?