Ever since actors Bob Newhart and Mary Frann made innkeeping in a rural Vermont town look wacky and fun, it’s been at the top of many people’s second-career choices, along with actor, novelist, brewmaster and chocolatier.
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The fantasy is that you don’t have to be chained to a desk from 9 to 5, you get to schmooze with all sorts of characters, and you share your muffin-making and other hospitality skills. And you get paid simply for opening the door to your home.
With increasingly higher hotel costs, it’s no surprise that sites that make private homes and apartments available worldwide such as Airbnb, Home Away From Home and Vacation Rental By Owner have taken off like rockets. In this case, you also don’t have to meet rigid rules for running an at-home business, unless you live in a city like New York where the hotel trade does not look kindly on competitors.
You can also stop taking guests whenever you feel your space too invaded; a 9-to-5 job may suddenly sound quite liberating. While some find the concept of allowing in strangers scary, I’ve found the experience safe (so far), even if not a TV sitcom, and a source of extra revenue. I’m still hoping for a guest who will trade their home in … Napa! Barcelona! Hong Kong!
1. Post professional photos. Renters get annoyed if you’re not honest, no different than online daters. Many will cyberdrive by fuzzy, dark, grainy images. Show photos of both the outside and inside and key rooms — kitchen, bedrooms and bathrooms — and describe how many and what size beds are in bedrooms; couples want to know. Tout amenities: wireless access, lake view, walking distance to museums.
2. Set a price. Base it on the competition that you check out online and whether you’re renting out a room and plan to stay put, or lease your entire house and vacate. You can raise the price for holidays and set different prices for different numbers of guests, say, four for $300 a night and $50 extra per each additional guest. You’ll want a deposit that reflects your home’s contents. Sites allow you to determine how you get paid: credit card, checking or PayPal account. They make money by taking a fee; some charge a yearly posting fee.
3. Set a time frame. Getting your home clean and ready for you to vacate or share takes effort. Some hosts won’t rent for less than three nights.
4. Protect valuables. Whether silver, crystal, jewelry, clothing, shoes, cameras, laptops, medications (remember Steve Martin snooping in the medicine cabinet in the remake of “Father of the Bride”). Anything you’re concerned about should be moved off-site or locked. Empty some closets. Ask your homeowner’s insurance carrier if your policy covers theft and liability; you may want to secure this in writing.
5. Trust your gut. You’re not the TSA looking for security threats, but your home is your castle and probably most valuable asset. Don’t be shy about asking who’s coming, why, ages and even profession. A family from Rome looking for a place for a daughter’s graduation weekend sounded a better bet than a group of 20-somethings seeking a retreat for a destination wedding. Get a renter’s name, cell number and email address; you’ll make contact online, but you should also do so by phone or text.
6. Pamper guests. Have clean sheets on beds, fresh towels in bathrooms, toothpaste, soap, hair dryer, magazines and other niceties that personalize your home. Extra thoughtfulness: Leave a bottle of wine to welcome, and breakfast food for the morning.
7. Get a new key. Guests need a key, so it’s best to have a lock added or changed that they use. If you have an alarm system, you may want to add a new code for their use.
8. Be a tour guide. Leave a list of favorite area attractions, restaurants, shops.
9. Play it safe. Leave important contact info: police and fire department, electrician, plumber, and how to reach you.
10. Establish house rules. Put these in writing on-site: no pets, no children under 10, no smoking, and if you use my wine, please replace. Know that too many rules can be a deterrent. Also state check-in and check-out times; note if those are firm and your cancellation policy.
11. Get critiqued. This is no different than Trip Advisor, Yelp or Zagat. Favorable comments attract more guests and flatter your ego; some sites encourage you to review guests.
12. Know the tax man cometh. In most cases, sites send a 1099 form by year-end. Also check with your accountant. If you earn more than a certain amount, you’ll pay taxes on income; you may be able to deduct some expenses.