startup

William1425
Level 1
Alexandria, VA

startup

Hello Everyone, I am interested in hosting and don't know where to start, i.e., how to prepare for this venture. Are there any good books or resources that you can recommend I review? Need to understand my area and set proper expectations for this experience. Also, looking to outsource the setup and management of my place.  BTW, I am in Detroit, near Ferndale MI.

 

Thanks in advance!

1 Reply 1

@William1425  Welcome!  The archives of this forum contain a lot of useful information and perspectives on hosting issues and Airbnb policies. But maybe avoid the political threads; there's a lot of mudslinging and racism there but not much helpful content.

 

For information about tourism trends in your area, your local Tourism Bureau is an often-underrated source of information. They're not just there to hand out brochures - they know their stuff when it comes to statistics, taxes, and regulations in the industry. Also check out the site AirDNA , which analyzes data from STR platforms and has some really granular details about your neighborhood's rental prices and occupancy rates.

 

Outsourcing the management stuff to a property manager is an option, but once you consider the multiple layers of fees and commissions, it would be hard to price competitively on Airbnb this way unless you happen to have a super high-end luxury property that might get a centerfold in Architectural Digest. There are plenty of property managers who work with Airbnb, but they tend to be a bit on the sleazy side - this platform works better for direct peer-to-peer bookings, whereas quality multi-property managers prefer to list on platforms that give them more control with features such as a real security deposit (which doesn't exist on Airbnb).