Im about to list my apartment in Chicago (I will also be living there)
anything i should look out for?
I know the golden rule i have found is don’t take long term tenants over 29 days because then it may become a lease agreement
Make sure you’re legal. Start slow, block some days to get your feet wet.
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I would suggest not using Instant Book. Take the time to look over your potential guests rather than blindly accepting anyone who wants to book.
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If that is an option… many of us “new” hosts have no choice at all regarding Instant Bookings. Either you use it, or you don’t use this platform. I am quite uncomfortable with this.
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contact your tax office to see what sales & use tax you need to pay
think about providing breakfast. There is a ton of info here on that. It may be nice to at least have some granola bars, coffee, juice.
Carefully consider kitchen use - also a lot about that on this forum.
And as @Maggieroni suggests, once you get a few bookings, block the dates around them until you are comfortable with your price and what you are offering.
Don’t low-ball yourself. Ask a decent price.
Invest in nice linens and towels. White is ideal. You don’t need to spend a ton - shop at discount stores. Provide plenty of towels. I hate showing up at a place and being given one towel - like I’m a child that can’t be trusted. Conversely, at my first Airbnb there was a large basket stuffed with beautiful white towels. I felt valued. MOST guests will NOT take advantage of the towels - but the will be given a feeling of abundance, value, maybe even luxury if there’s a stack of nice clean towels.
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i’m a host in chicago… i suggest getting some bookings soon (maybe start with a low price) before winter hits, usually there’s a big lull in the snowy months. once you get a couple of 5 star reviews, you’ll be booked full during the busy months