Do you own a Dallas Texas rental property that you’re thinking about turning into an Airbnb? If so, you’ve come to the right place!
Airbnb continues to be one of the top models for earning income from rental properties in 2019-2020 because it’s a trusted brand that people turn to when they are searching for a rental property in the city that they are traveling to.
Tips for Becoming an Airbnb Host
Keep it legal: Before opening your home to short-term renters, be sure your city and your homeowner’s association allow it. Report income and pay taxes. Vicki collects a 12 percent tourism tax as local hotels and bed and breakfasts do.
Be clean and friendly: “Don’t do this if you don’t like to keep a clean house or if you’re not a people person,” said Vicki, who’s earned “Superhost” status. Her accommodations have 5-star ratings, and 100 percent of recent guests have ranked them “sparkling clean.”
Vet your visitors: Instabook is an online option that lets guests book instantly without hosts approving them. Although Airbnb encourages this, neither Vicki nor Paige uses it. Both want to first know who’s coming and why. “However, if you decline too often,” Vicki said, “you’ll get flagged, and that can work against you.”
Set boundaries: Have a manual that spells out house rules. Include check-in and check-out times, what shelf in the refrigerator they can use, what is and isn’t available to them, (the kitchen, yes, the liquor cabinet, no). Vicki’s rules say no more than two guests per room, and no visitors or parties. John and Paige ask guests not to smoke, and to not do anything illegal — which they thought went without saying until one international guest illegally downloaded content. They also limit stays to 13 days, so they don’t risk hosting a long-term renter, which can have legal ramifications.
Be code compliant: To meet safety standards, you’ll need working smoke and carbon monoxide detectors. Also, make sure you have proper insurance coverage. Some insurance is provided through Airbnb.
In case of damage: Though she’s heard of worse, the only property damage Vicki has had to deal with was a stained carpet, which costs $50 to clean. That came out of the renter’s security deposit required at booking.
Consider access: For safety reasons, you don’t want to hand out your key. Many hosts have a keypad entry or lockbox with a guest code they change for each guest.
Capitalize on it: “Most people don’t see their guest room as a profit center,” said John, “but if it’s sitting empty 350 days a year, why not? It’s easy to get online, get approved and make some money. We can almost cover our mortgage doing this.”
Get Dallas Texas Airbnb Property Management
Want to earn “passive income” from your Dallas Texas Airbnb? Let us manage your investment property for you! Contact us today by calling (972) 523-1389 or click here to connect with us online.