How To Airbnb Your Home

South Bay is always in demand either from tourists or business professionals looking for a short term rental. It creates an opportunity for the Torrance and Beach Cities homeowners and investors.

See dollar signs every time you look at your empty guest bedroom or finished (but underused) basement? Or maybe you strategically bought a home that has great Airbnb rental potential, whether it features an accessory dwelling unit (ADU) in the backyard or a space within the home with its own entry that can be used as an apartment. Knowing how to Airbnb your home can be a great way to earn some extra income. You're in charge of the schedule, so you can determine exactly when your place is available for short-term stays.

However, if you’re like the majority of people who list their homes on Airbnb, you probably don’t have property-management or hospitality experience and are venturing into unknown territory as you set up a revenue-generating rental property. To help you navigate this process, we’ve put together an expert-approved, step-by-step guide for how to Airbnb your home, complete with tips from short-term rental experts. Here's what to know.

Check Your Local Regulations

 

Before you pour any money into setting up your home for an Airbnb listing, research the short-term rental laws in your city and find out if you need a permit. Local regulations run the gamut from capping the number of nights an Airbnb can be rented to limiting the number of guests.

Review Your HOA Bylaws

If you live in a neighborhood with a homeowners' association, comb through your bylaws to make sure Airbnbs are allowed, and, if so, what types of restrictions are placed on them. Also, be sure to check your HOA’s meeting minutes to make sure new restrictions aren’t on the horizon before you start investing in setting up an Airbnb.

Calculate Earning Potential

Before you put your Airbnb on the market, you'll want to have an idea of how much you'll be earning from it. In addition to using Airbnb’s pricing tools, you can use sites like AirDNA, Airbtics, and Mashvisor to glean revenue insights.

 

Do some of your own research, too, by checking other listings on Airbnb and VRBO to determine the rates in your area for comparable properties and watch for trends, Woitunski says. You'll usually be able to charge above market price if you have a well-designed space, good photography, and competitive occupancy rates. You can also speak with a few property management companies in the area to get their insight, she says.

Credit: House Beautiful