One of the common home buying myths for first-time buyers that I busted last month was that a home you purchase must be a primary residence. Some people continue renting their primary residence but invest in a Tulsa home to use as an income property. Or they like to travel and want to make money on their primary residence while they are gone. Why? The interest in private residential rentals over hotel rooms for vacationers jas steadily increased over the past few years. Is it possible to run an Airbnb from anywhere in the world? Yes…when you follow these tips.
Tips for Running an Airbnb From Anywhere
Hire Locally
You need a housekeeper, handyman, and lawn maintenance person available to help prepare for guest arrivals and clean up after an Airbnb visit. Interview local people to find ones who fit the bill. You want people you can trust to do a good job in your Tulsa home. Ask for references. Check them out with the local Better Business Bureau. Also, check for local plumbers, electricians, and HVAC pros to keep on file when needed.
Get Organized
You may also find the need to utilize a property manager of some sort to keep your Airbnb fully stocked at all times. Sometimes, your housekeeper also offers this service. Create a list of items that should be available to a guest whenever they check in: linens, cookware, dinnerware, toilet paper, etc. This helps your manager know what you expect to keep on hand for your visitors. When stock runs low, they can let you know what needs to be replenished. Yes. All of these staff members cost money. Make sure you figure that into your rental fee.
Guests Prefer Self-Check-In
You live in another city or state (or you may be completely out of the country). How do you check your guests in? Self-check-in. Nowadays, guests tend to prefer this method to any other when utilizing an Airbnb. The best way may be to install a smart lock. Instead of a key, your guests punch in a code. It can be accessed remotely. So, in case your guests find it difficult to unlock, you can allow them inside courtesy of your phone. The access codes can be changed after each guest leaves to ensure the security of your property.
Make Your Guests Welcome
Finally, welcome your guests into your home with a nice gift. Find out if they are celebrating something special and leave them a bottle of wine, muffins, a cake or something else to commemorate the occasion. If you have a favorite local bakery, coffee shop or boutique you love, create a gift basket that includes these items. Also, leave them a binder that includes local restaurants and things to do while they are in town. Include detailed instructions on how to use the coffee pot, stove, washer and dryer, and TV (including remote) to make their stay a little easier. And leave the Wi-Fi password. You might also want to include your phone number in case of emergencies.
Do you love to travel? Do you own a second/vacation home that you only use a few weeks out of the year? Are you interested in making some money? Airbnb might be a good option for you. Contact me if you are interested in purchasing a Tulsa home to utilize as income property in the future. Good luck!
Lori Cain, REALTOR®, Serving Midtown and the greater Tulsa, OK area. Call 918-852-5036.
