Is this how Air BnB works? Or did I misunderstand something?

[Greenhouse0]

Hi Air BnB Universe,

I'm just starting on this and wanting to make sure I've understood everything right.

So here's the process/steps as I saw it:

1. Creat the listing a set the price and availability.

2. Guests will find it and enquire about it. When they book I can either accept or decline.

3. If I accept, Air BnB will take the guests money and hold it until 24 hours after the guest arrives.

4. After then I can transfer or 'payout' the money to a bank account, credit card or PayPal.

Does that sound correct to everyone?

If so, I think all i've got to do now is figure out where the cancellation policies are and how to set them and I'll be ready to go.

Thanks all 🙂

[Clare0]

@Greenhouse0 Well you have the bare bones of how things work.  Here are some suggestions: 

1. Change your profile picture.  Guests want to see a photo of the host. See also #5.

2. Read all the Help articles including

    Cancellation policies

    Host cancellation penalties / Extenuating Circumstances

    Special Offers

    Pre-approvals

    Resevation Requirements

    House Rules

    Security Deposits

    Instant Book procedures and policies

    Cash transactions

3. Manage your Availability Settings

4. Keep the pricing on your calendar up to date

5. Complete your ID verification. 

6. Bookmark for future use this link: 

https://community.airbnb.com/t5/Tips-Tricks/Contact-Airbnb-A-Community-Help-Guide/m-p/16165/highligh...

That's all that comes to mind in 5 minutes, but I'm sure there's more.  You might peruse this Community to gain more insights. 

[Jeet0]

Your description is correct @Greenhouse0, but also ensure you do everything that @Clare0 has mentioned, first change your picture and a real name is prefered.

Bookmark this as well: https://community.airbnb.com/t5/Getting-Started/Community-Help-Guides/m-p/23100#U23100

Welcome to Airbnb Community 🙂

[Greenhouse0]

Thanks Clare! 

That is a great help to know what headings to read up on.