Airbnb has, without a doubt, revolutionised the way that people travel. It’s quickly become one of the most popular platforms to search for accommodation and it’s also opened up many income opportunities for people that own property. Whether it’s sharing a room in your home or turning investment properties into lucrative ventures, there are lots of ways to make use of Airbnb. So in this article, we’ll explain how it works in Australia to give you a better understanding of the service.
How does Airbnb work?
Airbnb is essentially an online marketplace that allows you to search for travel accommodation, but you can also rent out a property and spare rooms. You can list your property or spare room on the website and pick the price you want to charge. Airbnb then takes a commission for every booking and also charges guests. You can choose different criteria that match your home and you can upload photographs to attract more attention and show people your property.
Can I trust Airbnb and the guests?
There’s always going to be some concern with bad guests and tenants, but it carries the same amount of concern as renting your property out to anybody. In addition, guests and hosts both receive ratings, meaning you can decline someone or cancel a booking if you don’t want a certain guest coming to your property. There’s also a verified ID system that confirms people’s identity with offline documents such as photo ID.
Do I need a property manager for Airbnb?
A lot of people wonder “why do you need a property manager for Airbnb properties?”, especially if you can manage the property on your own. The answer is usually because there are countless different responsibilities in being a landlord for your property. Whether it’s listening to feedback from tenants or repairing certain appliances, a property manager can help look after your property and will ensure that it’s kept in top condition. This will make managing an Airbnb property much easier and you won’t need to pay as much attention, resulting in less stress on your behalf.
How does Airbnb work in Australia?
Airbnb is an international service, meaning that there are no major differences in how one uses Airbnb in Australia. However, there are usually a couple of responsibilities, such as tax declarations, that must be taken into consideration if you’re renting out your property in Australia. This is where an Airbnb management service can help you with financial issues such as tax deductions to save money, reporting income and so on. Since it’s considered taxable income, you’ll need to keep records of your Airbnb earnings and report them to avoid getting in trouble. Other considerations will also be covered by a management service, making it the best way to manage your property on Airbnb stress-free.