Airbnb in Edmonton: Everything You Need To Know About Running One
Many travellers today are looking for more personalized experiences than they can find at traditional hotels, and Airbnb has become extremely popular as a result. In this article, we’ll cover the basics of Airbnb in Edmonton, from what it is to how much you can make. We’ll also give you some tips on getting started and making it easier to run your Airbnb once it’s set up.
Whether you’re looking to run an Airbnb for extra income or as a full-time business, there are a few things you need to know (and you can make good money by renting out your home to travellers through Airbnb!) So if you’re just curious about Airbnb or ready to dive in, keep reading!
What Is Airbnb And How Does It Work?
Airbnb is an online platform that allows hosts to rent out their homes or rooms to travellers. The service makes it easy for hosts and guests to connect and make arrangements, They also provide payment processing services and other features.
As a host, you list your space on the Airbnb website and decide how much you will charge for it. You also set your own rules and regulations, such as whether or not pets are allowed, smoking is permitted, etc.
When a traveller books your rental through the website, Airbnb takes care of payment processing and other related tasks, and you pay them 3% of the money you earn from renting your property. Your guests will have access to their booking information online and can easily contact you with any questions or requests.
The Benefits Of Running An Edmonton Airbnb
Edmonton is a great place to run an Airbnb. It’s close to incredible outdoor activities, has plenty of dining and shopping options, and its vibrant nightlife makes it a popular destination for travellers. Plus, the city offers some of the best rates in Canada for Airbnbs.
In addition to the location advantage, running an Airbnb in Edmonton can be a great way to make extra money. The city has seen consistently high demand for short-term rentals, so hosting an Airbnb could be a lucrative venture for you.
How To Get Started With Setting Up Your Own Edmonton Airbnb
If you’re ready to get started with running your own Airbnb in Edmonton, the first step is to make sure you understand all of the regulations regarding vacation rentals. The City of Edmonton has specific rules and restrictions for short-term rentals, so it’s important to familiarize yourself with them before listing your space.
Once you have a good understanding of the regulations, you can begin listing your space on Airbnb. We recommend you take time to create an informative and descriptive listing that includes lots of high-quality photos of your rental. It’s also worth checking around for other listings in the city and checking their prices – you want to stay competitive. You could also make use of the Airbnb Smart Pricing Tool. This tool monitors pricing and adjusts the price of your unit to fit the current market in Edmonton.
Finally, make sure you have a plan in place for managing bookings and responding promptly to any messages or requests from guests.
By following these tips, you can get your Airbnb up and running in no time!
Tips For Being A Successful Airbnb Host
Running a successful Airbnb in Edmonton does take a bit more than just setting up your listing. Here are some tips to help you maximize your income and become a top-rated host:
- Provide excellent customer service: Respond quickly to messages, go above and beyond for guests, and be flexible when necessary.
- Offer amenities: Consider providing extra amenities such as towels, toiletries, or local attractions guides.
- Keep your space clean: Make sure that your rental is always clean and tidy before guests arrive.
- Promote your Airbnb: Use social media to market your Airbnb and attract more bookings.
- Be familiar with the area: Educate yourself about the local attractions and hot spots so that you can make recommendations to your guests.
How To Make Hosting An Airbnb Easier
If you’re new to hosting an Airbnb in Edmonton, it can feel overwhelming, but we promise it doesn’t have to be. Here are some tips to make your job easier:
- Automate payments: Consider using a service like Stripe or PayPal to automate payment and collection of funds.
- Use booking software: Streamline the process of managing bookings by using a booking software like booking.com or Airbnb’s own app.
- Create a ‘house rules’ document: Make sure that your guests are aware of any and all of the house rules.
- Have a plan for when things go wrong: Accidents happen, so make sure you have a plan in place for how to handle any issues that may arise.
- Provide a welcome package: Make your guests feel at home by providing a welcome package that includes amenities, snacks, and local attraction guides!
- Consider hiring cleaners: Cleaning your rental between guests can be time-consuming and arduous. Consider hiring a professional cleaning service to save you time and effort.
- Have someone manage your property for you: If you don’t have the time to manage your property yourself, consider hiring a property manager who can take care of it. This can be especially helpful if you own multiple properties in different locations. Of course, this will eat into your profits a little but many find it a fair trade.
With the right preparation and knowledge, running an Airbnb in Edmonton is a great opportunity. If you take the time to understand the regulations, create a great listing, and offer excellent customer service, you can be sure that your guests will have an amazing stay.
FAQs About Running An Airbnb In Edmonton
Q: Do I need to be licensed to operate an Airbnb in Edmonton?
A: Yes, all vacation rental hosts must obtain a permit from the City of Edmonton before listing their property.
Q: Are there any restrictions on what I can rent out?
A: Yes, you must follow specific regulations regarding the type of property that can be rented and the number of people allowed to occupy it.
Q: Do I need insurance for my Airbnb?
A: Yes, having a valid insurance policy is an important part of running a successful Airbnb in Edmonton. While Airbnb does offer its own insurance to people who use the service, you should still look into getting additional coverage for anything it doesn’t cover. Also, if you have existing home insurance the terms may change if you decide to run your home as an Airbnb. Make sure to check with your policy provider before you start allowing guests.
Q: Are there any other resources I can use to learn more about running an Airbnb?
A: Yes, there are many helpful resources available online such as the City of Edmonton’s website and Airbnb’s host community. You can also find great advice from experienced hosts in local Facebook groups.
Q: Are there any taxes or fees that must be paid when running an Airbnb?
A: Yes, you’ll be subject to income taxes on your Airbnb profits. However, you are also able to claim certain things as expenses as well.
Sterling Models To Consider As An Airbnb Rental In Edmonton
If you’re considering using Airbnb to make some extra money in Edmonton, think about buying a property that would be perfect for hosting guests. The following models have great features that are sure to appeal to renters.
The Thomas is a roomy, four-bedroom house that would be great for a family who frequently travels. You could reside in it when you’re home, but let other people rent it out when you’re gone to make some extra money.
If you don’t mind sharing your living space with guests, setting the Thomas up as a bed and breakfast could be the right choice for you. With this option, you’ll still have an ensuite bathroom in your bedroom, but there are also two more bathrooms upstairs that your visitors can use. Alternatively, you can add an entirely separate legal suite in the basement so that it’s always available to list on Airbnb.
The Jannat is a huge model, with 2,635 square feet of space and either 5 or 6 bedrooms, depending on the options you choose. This makes it perfect for large groups, or with the extra space you could easily set up two separate suites.
The Streetwise model is more affordable than those listed previously, making it a wiser investment for someone not planning to live on the property. With three bedrooms, this home will likely attract an appealing crowd to your Airbnb such as families or larger groups who are willing to pay more money for additional space. Having a legal basement suite also allows you to list two units on Airbnb instead of just one.
No matter which model you choose, having an Airbnb rental in Edmonton can be a great source of extra income. With the right preparation and savvy marketing, you could even turn it into a full-time business! Just make sure to research the regulations and prepare your property accordingly so that you can be successful. Talk to us today to see which models could be the perfect Airbnb for you. Good luck!
About the Author:
At Sterling Homes, our mission is to provide the opportunity for affordable homeownership without compromise. Over the last 70 years, Sterling Edmonton has quickly become one of Edmonton’s most popular builders. We bring more than seven decades worth of exceptional customer service, superior design and unparalleled craftsmanship to the greater Edmonton area. As a member of the Qualico Group, Sterling Homes focuses on greater Edmonton’s finest family communities, while being able to offer some of the region’s most family friendly prices thanks to volume purchasing power for materials, trades and land. This has not only made Sterling one of Edmonton’s bestselling, move-up builders, but also one of the industry’s most respected home providers. It is through our uncompromising commitment to our customers that we proudly deliver the Sterling Advantage – that’s why each and every home we build includes a 10-year home warranty, a completion guarantee and new home warranty excellence rating. Our Advantage is our pledge that, when you build your dream home with Sterling, we will deliver a timely, well-built home you’re sure to enjoy for years to come.
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