September 7, 2022

How to Start Your Airbnb on a Budget: Part III

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By

Juliette De Soto

How to Start Your Airbnb on a Budget: Part III
  1. Add the small guest touches that are free or inexpensive. 

Once the design and furnishings are in place, give some thought to the small touches that guests will really appreciate having during their stay. The good news is there are so many ways to please guests that are either free or relatively inexpensive. Probably the universal crowd pleaser is a refreshment when guests arrive. A couple luxurious beverages, some chocolate, and local coffee cost a few bucks but go a long, long way in the travel experience. A welcome note greeting the guests by name is free to do but rare and shows kindness and hospitality. A few white cotton robes in the closet add to the feeling of luxury. These are details that are relatively easy, but will ensure that guests feel welcome and even pampered while they stay with you.

  1. Always pay for professional photos.

This is another scenario where you’ll pay a little money at the start but get huge returns with every guest reservation. You might think, but isn’t today’s iPhone just as good as professional photo quality? iPhones can take great photos, but it’s the photographer’s eye and staging that you probably lack and that makes all the difference. If you pay a professional Airbnb or real estate photographer, your Airbnb photos will cost around $150, but the boost in nightly rates will pay for that initial cost in seconds. 

  1. Record every single thing you buy for tax time. 

If you run an Airbnb, you run a business—and almost everything you have bought in pursuit of starting your Airbnb is a tax write-off. Keep a meticulous record of your spending in an Excel spreadsheet. Save all your receipts in a physical and/or virtual folder. Talk to your tax accountant ahead of time to make sure that you are capitalizing on all possible write-offs and tax breaks. You’ll be happy that you kept so organized when April comes. 

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