Airbnb is one of real estate’s most popular modern methods of investing.
At the 2023 HOPE Global Forums in Atlanta, rolling out spoke to Janaye Ingram, Airbnb’s director of community partner programs and engagement, about the business and how you can maximize it.
What is something specific discussed on today’s panel you would like to share?
There’s a lot I could share about both our work to combat discrimination, that can be found by going to airbnb.com/against-discrimination, people can find our work there. A lot of that work has been happening over a number of years, but last year, we released a really important report that detailed where we are today. When it comes to engaging with Airbnb, from a hosting perspective, I think that there’s a whole host of opportunities that communities of color can tap into, to make more money for themselves and their families. In 2022 the average host home earned $14,000 in supplemental income, and that can go to supporting their families to making home repairs to supporting their new business that they have.
I really do want people to understand that Airbnb can be a tool for economic development, and economic lever for them and their families. That’s a good message that I would want people to walk away with.
What are three tips for someone who wants to run a successful Airbnb hosting?
Three tips that I would give new hosts who are interested in starting up one, obviously, is to get started. We’ve made the process really simple, ad I think it’s important for people to know, too.
It’s really important that you detail your listing. So be really descriptive in the photos of what each space is and how it can meet the needs of travelers who are interested in staying with you.
Three, which I think is really important, we have a product called AirCover, and it helps homeowners and Airbnb renters to be able to have up to $3 million in protection for anything that happens. Any damages to their property, or any damages to their items. That’s a really important part of ensuring that people can host with ease and without worry. We know your things are valuable. We know your things have meaning to you. We want to make sure that when you’re renting your place out to other people, that you can do so and not worry about what happens to them. That’s a really important product, but I think those are the three things I would want people to know about hosting on Airbnb and I just really do hope people really engage and tap into this opportunity.
