Blog ADU What You Should Know Before Renting Your Home on Airbnb

What You Should Know Before Renting Your Home on Airbnb

By Dill Ward, December 22, 2020

If you’ve got an extra room in your home, or you’re thinking about taking off to live somewhere else for a while, renting your home on Airbnb might be a great option for you. Renting out your space that would otherwise be sitting around empty can be super helpful when it comes to paying the bills – plus, you have the chance to interact with people from all over the world!

Before you get your home listed on Airbnb (or a similar app), there are a few things that you should know. The points that you’re about to read aren’t meant to deter you from renting out your home on Airbnb, we just want to give you the insider tips, so you aren’t surprised when you’re ready to get started.


You’ll be expected to provide basic amenities

There isn’t necessarily a rule that states Airbnb hosts have to provide things like towels, soap, shampoo, and toilet paper, but providing the basics will have a huge impact on your reviews. Guests like to walk into their temporary home with all of the luxuries that they’re used to. If they feel that they’re missing anything and there was no effort made to provide it, they’ll likely detail that fact in the reviews. 


You are responsible for your guest’s safety

Airbnb’s website states that hosts are responsible for their guests’ safety. This means that you should make sure your property has a well-stocked first aid kit, fire extinguisher, emergency contact information, a clearly marked fire escape route, and all required sensors (CO2, smoke) are up to date.


You might need a permit to rent out your home

This will vary by location, but most cities will require you to apply for a rental permit in order for you to become a host – even if you’re only planning on hosting for a few days. In Portland, OR, the permit is called an Accessory Short-Term Rental Permit and is only valid for up to 30-days. If you have a home with 6 or more guest rooms in Portland, OR, you will have to consult the Development Services Center to discuss the zoning rules.


Rental income has to be reported

Even though you aren’t technically a landlord when you rent with Airbnb, you are still making an income on that rental property, and it must be reported. Airbnb may issue hosts a 1099-K form that they can use to report their rental income, but it can also be reported on a 1040 tax form. 


You can deduct rental expenses from your taxes

We’ve already established that getting your home ready to rent on Airbnb isn’t as easy as taking pictures of your home, listing it, and handing over the keys. You have to follow local laws and set up your guests for a wonderful stay by providing them with things that will make them comfortable. Luckily, everything that you purchase for your rental may be deductible on you’re your taxable income at the end of the year. Just make sure you keep track of your spending, and talk with your trusted accountant. 

Are you thinking about listing your home for rent with Airbnb? Let’s book a call! We can help you get your home all set up with everything it needs and answer any questions that you might have about the process.  

Dill Ward

Principal Broker | OR

She/Her

I'm a strategist at heart. Once we've got a clear vision on your goals I love drawing the road map how to get there. I'm a natural problem solver and resiliency is my superpower. I get excited by nudging you to see the bigger picture of your goals when the process can drag you down into the moment. I've been called by my clients as, "contagiously enthusiastic". Selling a home or taking the leap to buy is an exciting transition which can create other shifts and opportunities for you to take control of the direction of your life and discover the next version of yourself.

WILL YOU TAKE TWO BUCKS INSTEAD OF THREE?

Negotiating was a skill I honed early in life, whether it was persuading for a later bedtime, or heading down to South Florida flea markets where my parents would encourage me to, "work a deal" on a comic book or a kitchen gadget. Even back then, I loved the thrill of asking for what I want.

HOW I'M WIRED:

For those of you who geek out about self development and personality tests, my "Strengths Finder" results are: Positivity, Strategic, Activator, Learner, and Ideation.

I LOVE PORTLAND! (and welcoming new people)

I relocated to Portland from Florida in 2010, and am grateful to have built an incredible life here in this weird city. It's always an honor to be a welcoming face and a warm smile to others arriving and looking for home.

WHAT I DO WHEN I'M NOT THINKING ABOUT REAL ESTATE?

Wait, is that a thing? I'm always thinking about real estate. I love wheeling and dealing! Before I was a REALTOR®, I started the journey as an investor. Fun fact: I helped an investment group flip over 100 properties my first 2 years in industry! I've had a rental portfolio for over 10 years and dabble in all areas of the industry. My speciality is the concierge level service we can deliver when someone wants to sell and let us take the wheel. My team and I love to work as project managers and orchestrate the 50 different vendors & contractors to make miracles happen in short amounts of time.

I'M PASSIONATE ABOUT

• My husband & biz-partner Nicholas. (He's a High Performance Coach & REALTOR® -- dreamy combo!), and our young daughter Nori. • Building Community! Check out Women who Own it, a monthly meetup community for women homeowners. • Offering networking opportunities, encouragement, and business coaching for women in business at Women with Moxie. • Spreading motivation and inspiration in the world through public speaking and event emceeing. • Finding ways to make people smile. Enough about me -- if you are still reading this far, i'm dying to know about you! Use my easy online scheduler and let's book a meeting! Buy, sell, just a get-to-know each other to possibly collaborate on some amazing project? Easy breezy!

<< LET'S BOOK A MEETING! >>

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  • T: 503-278-9697
  • dill@dillwardgroup.com

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