New Air Bnb owner // Help!

, ,
1

We are building out our basement to be an Air Bnb. What are the basic things we need to get started? We want to charge at least $100/night. We are trying to start with studio set up. It will have a separate entrance, a full bath and our laundry machines.

Few questions:
Do we have to have a kitchen or a kitchenette? Any advice on pricing?
Any advice on cleaning fees?
Also any advice on how to manage the laundry machines?

Thank you!!

2

Have you researched your market area? You need to look at what other hosts are doing / charging in your area to see what the price point is.
How saturated is your market? What will make your listing stand out?
What are the rules about running an Airbnb in your area?
Building codes regarding exits and windows for a basement?
Many new hosts struggle as they are not aware what a commitment this is. It is not make the bed and swish the bathroom!

2 Likes
3

This is far too HUGE a question! I’d really recommend reading this forum thoroughly.

6 Likes
4

We need a lot more information.

2 Likes
5

First, peruse the other listings in your area and see what’s booked up to get a feel for your market because they are all different. There are now “luxe” listings all the way to sofas without bedding. Each has far too many variables that can make answering this question difficult.

The kitchen is even subjective because you could be near an airport/travel hub where short-term stays would be the norm, and a coffee station/kitchenette will suffice. But a listing far from restaurants, cafes and groceries is another story.

Some advice on cleaning fees: It seems that very few listings include cleaning in the daily rate and the fee only shows up after a guest inputs dates, so my advice is to definitely add a cleaning fee. Get estimates from professional cleaners or again, check other listings to see what the rate parameters are for the listing’s size and amenities.

If you plan on using the washing machine yourself as the only existing household machines, you will need to either move them out of the private listing space or block them off from the space altogether. A W/D is awesome for long-term guests but we have two suites that are booked constantly and they have no access to our (only) W/D. There’s no way we would be able to even keep up with the listings’ laundry, let alone our own, if it were inside on of our listings.

The advice about checking basement exits and codes from Deb is sound. We have many basement listings in our city but any basement converted to living space requires either a “daylight basement” (where you can enter from the ground level), or at least one egress window (large enough for an adult to exit in case of a fire). Both can be very expensive but will not be approved by the city as a dwelling without them.

Give some more details so we can better support you.

3 Likes
6

Your pricing and must haves depends on your location. Check out what hotels, motels, and other Airbnbs are charging in your area.

8

So great! I don’t know why I didn’t think of this. Thank goodness for the forum. I just sat down and got all of those answers. That was extremely helpful! Thank you!

2 Likes
9

Gotcha! Been reading and thought I’d take a shot at asking about my specific situation. Grateful for the responses that have been helpful. I will continue reading.

2 Likes
10

If this is a major remodel it may make sense to have a small kitchen. You could use it as an in law suite or rental if Airbnb doesn’t work. Also for resale. I would at least price out what it would cost to have built.

4 Likes
11

I agree. They are finshing my 600 SF studio and it has a full kitchen. I am the canning queen, so I really need it. This is my personal place. I am also finshing up a 750 SF MIL/Efficiency stand alone I will also have a full kitchen put in. It has a loft area and will sleep 4 max. If I stop STR I can rent the place out as a LTR. Cover all your bases up front if you can.

12

Try to sound proof the ceiling in the basement and floors in your apartment.

4 Likes