Before you sign up as an Airbnb host you should define what kind of host you want to be. There are 3 types of hosts:
- Full timer - treat it like a business
- Side hustler - make supplemental income but not trying to rent daily
- Occasional host - rent out your unit when you're on vacation or very few days on the calendar
You probably have an idea which one you are. And these can be switched and mixed whenever you want.
Knowing which type of Airbnb host you are will help you a lot when getting started.
#1 - Full timer
A full timer rents as much as possible and treats it like a business. You're in to make as much money as possible.
The full timer really enjoys real estate and is passionate about it.
The full timer could go to the lengths to list their entire home on Airbnb and sleep in a hotel to profit the extra money.
The full timer will consider automating sooner.
The full timer will consider getting multiple properties.
#2 - Side hustler
As a side hustler your goal is to make some extra money but you don't want to rent your house every day.
You probably own your house or will make an agreement with your landlord.
You want to do Airbnb to pay some extra bills or get some extra cash each month.
You don't want to book your house every day though or spend a lot of hours managing this.
Maybe you want to screen guests and be selective with who you accept.
You set the dates you want available instead of having it available every day.
If for example you only want to rent a few days each month you can set premium prices to not get many bookings.
#3 - Occasional host
This can be considered as #2. The occasional host does Airbnb when it's convenient. Such as when they are on vacation, out of town, or once in a blue moon.
You can rent out the times you're away or not using your home. You won't be doing it very often.
Which one are you?
By now you should know which type of host you are.
And remember you can switch and mix roles very easily. You can always set the dates your house is available.
If you want to be a full timer one week and do 1 night the next week it's your call.
Sign up as an Airbnb host if you want to start making extra money every month!