Airbnb's been around for over a decade and during that time it revolutionized the hospitality industry. Every open house, apartment, and room became a potential profit-generating space. Although the market has become increasingly saturated, there's always room for a few more properties and we think you should add yours.
Are You Allowed to Sublet?
First things first, is it legal to sublet your property? Unlike some foreign destinations, South Africa currently does not have any Airbnb-specific by-laws. However, you should still go over local zoning regulations or contact the Home Owners Association if you're part of one. Following that, it's down to the property owner and body corporate if you're renting. As far as BBG properties are concerned it is permitted.
Also, keep in mind that the money you make from Airbnb is still income and will be taxed. How much you'll be taxed will depend on the total amount made. Speak to your financial adviser or an accountant to get a better idea of what to expect and how to declare the income.
Set it Up
Listing on Airbnb is easy and free, all you need are a few photos of the property and a decent description. That being said, it's worth taking the time to dress up the space and use a proper camera. If you can afford it, hire a professional for a few hours - their expertise and equipment make a world of difference. Once you've got your pictures ready your copy tight it's time to set pricing. A good way to get feel for the land is to browse other properties in your area that have a similar setup to yours. Also, follow Airbnb's guidelines, they're there for a reason.
Establishing house rules is an essential part of the process. They exist not only to protect your property but all parties involved. Again, it's useful to follow Airbnb's guidelines for this. Remember to include any information about shared spaces, which amenities can be used, and any general rules you expect guests to follow.
Don't Forget the Neighbours
No one can derail your Airbnb operation quicker than disgruntled neighbours. If your relationship is such that you have regular conversations, keep them in the loop with your renters' comings and goings. If that's not your situation, it's still worth your time to make contact and let them know what's happening. You might even gain an ally that can help you out should you renters need anything urgently.
Airbnb is a great way to create extra income and on some occasions even make new friends. With the above info and a little ingenuity, you should have more than enough to get your operation off the ground - good luck!