Barely six years after it was launched, AirBnB is now estimated at $30 billion. Some say that if you have a spare room in your house, you are actually sitting on a gold mine. But that is not always the case. In fact, making profits through AirBnB is one of the few challenges that AirBnB hosts are confronted with. That said, it is still possible to raise your income, but you should be prepared to exert a lot of effort, make sacrifices, and release your inner creativity. The key here is to be ready and willing to make an investment. One of the AirBnB tips that we can give you is to get a renovation so that you can raise your income.
AirBnB Tips: Get A Renovation And Raise Your Income
The first step in growing your AirBnB income is to remodel your place. This can range from simple improvements, such as adding new appliances or repainting the walls, to drastic changes, like installing new floors or widening the room.
When getting a room renovation, one of the most important AirBnB tips that you should remember is to focus on your kitchen and bathroom. Why? Because these spaces are the first things that a prospective tenant wants to see. No one would book a property with dirty and shabby kitchen and bathrooms. If you are looking for kitchen ideas for your kitchen’s new look, you can find some inspiration in magazines and interiour design websites.
As an AirBnB host, you can also increase the value of your property by building on some add-ons. If your property is a stone’s throw away from the beach, you might want to consider getting snorkel gears or surf boards that your tenants can use. In addition, try to modernise the look of your property. Refurbish it with new furniture, decórs, and appliances, especially for your kitchen and bathrooms.
Facts About Renovating Your Property for AirBnB
One reason why you should renovate your property right now for AirBnB is that you can triple your income. For instance, a decent room in outer Sydney costs $200 per week prior to renovation. Throwing in the equation the seasonal fluctuations and other factors, a newly furnished property in the outskirts of Sydney can easily be rented out for $700 per week.
Some hosts are having second thoughts in renovating their property because of the work and the costs associated with it, and the space requirements to pull off an amazing property. But you know what? You don’t need a gargantuan space to create a hotel suite. Just furnish the space smartly, add a dash of creativity, and manage your budget wisely.