Hi @Patricia4737
I couldn't agree with @Elaine701 more! There is nothing "passive" about being an Airbnb Host. A few other suggestions:
Taxes and STR Regulations
Be sure you understand ALL the local regulations & Taxes (if any) that pertain to Short Term Rentals (STRs) in your area. This includes HOA restrictions and any governmental (City/County) restrictions. Know ahead of time what taxes are required and if Airbnb will be collecting them or not. Many a Host has found themselves with a huge tax bill (and fines) come tax time. Many local jurisdictions may also require you to obtain a Business License. Many areas require both sales tax and Occupancy Taxes.
Neighbors?
Consider how your neighbors may react to your operating a STR. Neighbors can be your best ally or worst enemy. Don't know the particulars about your property, but some Hosts have been shut down by a neighbor because a road leading to the property was a shared easement and did not allow "commercial activity" on the road (running a business) due to wear and tear on the road, noise, dust (if unpaved) etc.
Mortgage
If you have a mortgage on the property, many mortgage companies will NOT allow you to operate a STR on the property.
Insurance
Airbnb Aircover is not sufficient to cover you. You will need specific STR insurance (not a typical landlord/Renter policy). STR insurance is more expensive than normal Homeowner's insurance and there are only a few companies that offer it. Some will offer an add-on rider, but be sure you read ALL the fine print, as limitations and exclusions may make it of no real value to you. Proper, Steadily, and Foremost are the names I hear the most in the US for STRs.
Cleaners
It is key to have at least 2 cleaners familiar with cleaning an Airbnb (it's very different than typical house cleaning) trained and ready to go (unless you plan to clean yourself). Be sure you leave sufficient time between bookings to properly clean the property.
Photos
It's best to get professional photos done. It's worth the cost and the best ROI for your property.
Maintenance & Repairs
You should have a vendor contact list ready to go (plumber, electrician, landscaper, pest control, snow removal (if applicable). Some tasks you can do yourself, but if you are a remote Host, or aren't handy, you'll need these vendors ready.
Understanding the Platform (s)
Huge learning curve the first 6 months or so. You only have about 3-4 weeks after going live to receive the "New" boost Airbnb gives you. You need to maximize that and get as many bookings as you can and do everything you can to get 5-star reviews.
Experienced Co-Host
Hiring an Experienced Co-Host can be a life-saver while you learn the ropes. However, use caution. Try to find a friend or family member who is also a Host and has at least 1yr experience as your Co-Host. Never hire a larger property management Company and NEVER allow anyone but you to be the primary host on a listing. If you hire a Co-Host, be sure you have a contract that clearly spells out your duties and the Co-Host's duties. I would limit the initial contract to 3 months in case things don't work. Always include a non-performance termination clause (and what non-performance means), in the contract. Airbnb does have an Experienced Co-Host platform, but you can also join local Airbnb Host Clubs and ask for references.
Like @Elaine701 says, if you put the work in, Hosting can be fun (most of the time 😊) and profitable if you are willing to do the work.
Best wishes for future success!
