People these days have been wondering if Airbnb is profitable here in the Philippines. If yes, how much does someone earn from Airbnb in the Philippines? Condo Airbnb is an excellent business for so many Filipinos across the country and believe it or not, in some cases, hosts are able to earn a full-time living just from this business alone. But before we discuss the profit Airbnb makes, let us start with how to start Airbnb.
Becoming a host of an Airbnb in the Philippines may seem less involved than starting another type of business from scratch, but it’s important to understand the amount of time, effort, and investment it will be required to start an Airbnb business and make money. The following are some tips for achieving a successful condo Airbnb business:
Preparing budget and location
If you haven’t purchased or owned property yet, you should know their limit on a listing price. Consider including the possible costs of the property from mortgage, insurance, taxes, and utilities. One should also consider additional expenses such as renovation, re-furnishing, and refurbishing to completely prepare the property for business. Buying a condo at Airbnb could be a profitable investment, however, if one is aiming to maximize their earnings, it is important to pick a wise location. Pick an attractive location. In renting businesses, everything starts with offering an attractive location. Usual tempting locations include downtown areas or areas close to central business districts, shopping malls, and where major events take place to attract people.
Get to know Airbnb laws and regulations
If you have already purchased or owned a condo Airbnb, it’s important to make sure that you’re allowed to host on your property. Read the lease which could include a provision of subletting. Get the proper permission from your landlord, co-op board, or homeowners association if relevant. Some examples of restrictions include contracts, laws, and community rules. Hosting an Airbnb in the Philippines may fall within the definition of operating an “accommodation establishment” which includes, but is not limited to hotels, resorts, apartment hotels, tourist inns, motels, pension, houses, private homes used for homestay, ecolodges, serviced apartments, condotels and bed and breakfast facilities. The Department of Tourism provides general information about the standard rules for accreditation of accommodation establishments. You may manage your accommodation establishment registration, activation, changes, and account closure on the Department of Tourism online accreditation portal. In addition, the Code of Sanitation of the Philippines sets rules for sanitation practices for accommodation establishments, hotels, and other business establishments throughout the Philippines.
Another thing to be informed about is the local government regulations. Depending on where you will be operating, you may also be required to obtain the following permits from your LGU:Mayor’s Permit, Barangay Clearance, Occupancy Permit, Sanitary Permit andFire safety insurance certificate, building, plumbing, and electrical permits, zoning approval and locational clearance
Maximize your earnings
If you are looking for ways to maximize your earnings, offering tours, leisure, and experiences is a great way to earn additional pesos. Some examples of Airbnb experiences include cooking class, scuba diving, waterfall tour, sightseeing, adventure trekking tools, entertainment, and leisure such as jacuzzi, billiards and other games etc. There are a lot of options to include out there, but to be able to run a profitable Airbnb, it is essential to set the right renting price. Rental properties located downtown are usually more expensive than those located in the suburbs.
Make a good listing
Think of your listing as an advertisement for your space. You might want to make it more compelling as possible but of course, never lie about what’s not in your property and services. Start with the basics such as the location of your place, and the number of bedrooms and baths your guests will have access to. Take as many photos of the space as many as you can. Millennials nowadays love browsing photos when deciding on where to stay. In snapping the best photos, tidy up your space. Take shots of each space using natural light on landscape orientation when possible. Lastly, highlight unique details of the space. Include the reasons why your places are special, such as a view, pool, or even proximity to tourist attractions. Also note any aspects in your description that might be essential for guests to know before booking, like elevator or parking.
Organize the logistics
One of the most important tips when starting this business is to organize your logistics. Lining up all the logistics for your listing helps in making the process run smoothly. Adding house rules to your listing is a major contribution. It would help guests to understand and align with your expectations. Add rules and regulations in your space for your own protection of your property. Set up rules like restrictions on smoking, pets, or parties and limit the number of guests allowed to stay on the property. Also, set up your Airbnb calendar to make sure you only get reservations when you’re able to host.
Prepare your space
Whether it’s your first or 100th guest, you must ensure that your space is always ready to go. Tidy up, clean each room that guests have access to. Make sure that there’s no mold, dust, or even hair on the space. Never miss replacing the linens and towels. Stock up on essentials to help guests feel more comfortable. Consider providing amenities such as soap, shampoo, toiletries, bed linens, and towels. It wouldn’t hurt to provide extras as well. You may also want to consider adding an Airbnb manual with instructions and tips that could help guests be informed and oriented. A small gift can also make the guests feel extra welcome and make their stay there different from the rest.
There are a lot of great tips on how to start Airbnb, starters could earn a lot of money, but only if they make smart moves. When buying a property for Airbnb, you need to choose carefully. By keeping as many factors in mind as possible, such as owning the right property to use. Good thing Vista Residences has been providing quality condominium units provided with a sense of security, comfort, and accessibility to all important locations a unit owner might need. Vista residences continue to create great quality units for its users and potential clients. They also give their users the freedom to shape it however they want and at the same time help them make eco-friendly purchases for their future homes. Vista Residences has condominium buildings along Makati, Manila, Mandaluyong, Pasig, Taguig, and Quezon City that could be possible strategic locations for a condo Airbnb business. Indeed, it is a company that values its users’ way of living as it offers state-of-the-art amenities, the presence of leisure and recreational spaces in all its units, and 24/7 security. Make your next big step towards financial freedom with Vista Residences!
If you are thinking of moving into a new condo to turn into an Airbnb, check out Vista Residences!
Vista Residences is the condominium arm of the country’s largest homebuilder, Vista Land & Lifescapes, Inc. that offers ready for occupancy and pre-selling condominium projects in Manila, Makati, Mandaluyong, Quezon City, Ortigas, Baguio, Cebu, and CDO that are strategically located within major cities, in close proximity to premium universities, transit-oriented locations, and developed business districts.
For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.