Tips: Listing Property on Rental Sites to Pay off Mortgages
The online rental marketplace is helping the people to pay off their debts and earn an extra sum for their livelihood.
The cost of living has grown to a greater extent that makes it hard for the people to live in Toronto and many other major cities. From food to clothing, everything is expensive in the city and even the housing price in the country has grown high to almost seventeen percent by June, which is higher when compared to the pricing range of last year. But in the strife of life, the online rental platform brings hope among the people, similarly in Tasmania the people are able to pay off their debts.
Rental property is life changing
With the growth of the sharing economy, around eighty seven percent of the people of Tasmania is ready to open their property to the tourists and in a year they earn an average of six thousand four hundred dollars by renting their property. Even though the amount might not be of great impact for some, but it is definitely a life changing amount for many people in the country. About eight percent of the people said that the rental option should be available across the country and sixty one of them have said that the rental option has given them the opportunity to pay their debts.
Thirty seven percent of the people informed that the State Government will tend to introduce more prices and over regulate the system, and sixty seven percent of them informed that they expect the Government to restrict the activity.
The Head of the Public Policy of the rental platform in Australia and New Zealand, Brent Thomas told the reporters that there is a large space for the sharing economy in Tasmania. He said that study report from the company shows that the people are considering the rental platform as a part of the sharing economy.
The non permit proposal for forty two nights stay was not confirmed by the Government, but under the Liberals’ accommodation policy that was announced in March, they have approved the Tasmanians to rent or spare their property for 6 weeks in a year without the permission. There were 1.8 million tourists in Tasmania last year, out of which one hundred and eighteen thousand of the tourists stayed in the rental accommodation. Therefore, ten percent of the inbound tourism of Tasmanians is absorbed by the Airbnb.
The State Government has plans to release the regulation on the short term accommodations by the end of the year that will give a better solution for the Tasmanian visitor economy. The rental platform has two thousand listings in Tasmania. The rental platform offers interesting and affordable rentals across the globe and Airbnb get the rewards.
Sign up and become a host
Those who wish to rent their property or spare a room in their house can register with the rental site and they can receive more income to manage the rising economy.
Who can become a host?
Anyone who wishes to host their rental property can become the host. The listings that are available on the website can be of different options, from tree houses, boat houses, bed and breakfast rooms, entire apartments, entire apartments, castles to airbeds. The owners can list the properties in any location across the globe because the company has business in almost most of the countries in the world. Apart from that there are certain international regulations that are limited in some countries. And some of the countries that do not have the service are North Korea, Iran, Crimea, Syria and Sudan.
Types of rentals
The listings under the rental platform are categorized into different types.
Entire apartments or homes: The guests can rent an entire house or unit and they need not share the property with any other guest or host.
Shared rooms: The guests share the room entire space with the host and the other guests in the property; they are not given any separate rooms.
Private rooms: Some of the common areas like the bathroom, kitchen and the common room are shared by the guest, while they have a private room for bedtime.
While listing the property on the portal, the host must make sure that the property is categorized under the proper room type to avoid future issues.
Restrictions in the listing
- The company welcomes any type of listing around the world; however they have certain criteria that the owner should follow, so that their property can be listed on the website.
- The property that the host wishes to list must be located in the exact location as mentioned by the host on the listing and it must be bookable.
- The space must only be for lodging purpose.
- If it is a mobile place like a yacht, mobile home or sail boat must be semi permanently attached to the location during the reservation period.
However, the watercrafts and motor vehicles those are intended for mobile use and the units that do not serve the lodging purpose are not included in the listing. If the company finds out that the property does not meet the criteria, there are chances of canceling, suspending or even deactivating the account of the host.
Regulatory and legal factors
Before listing the property on the website or deciding to become a host, the first thing that a person must do is to understand the rules and laws that work in their city. Because each city has different types of rules regarding the accommodation and rental properties, in some cities the short term stay is not allowed and they are part of the administrative or city zones. While in some cities, the host must acquire permission or license or register before listing or accepting requests. The law enforcements differ depending on the local government and the host must follow the regulatory rules, failing to do so must pay fines or other enforcements.
The online rental forum will look after the collecting, remitting and calculating the local occupancy, in some of the jurisdiction and the occupancy tax is calculated in different ways depending on the jurisdiction. Using the surveillance devices or the security cameras in and around the listing might be against the law, so the host must check with the local law before installing the surveillance devices. Respecting the privacy of the guest is the most important aspect of the guest and if they have such devices installed in the unit they have to inform the guests about it.
Being a considerate community member, tenant or neighbour is the part of a responsible host and they have to talk with the landlords, house owners association and neighbors about listing their property under the Airbnb. This will help them in preventing from various issues. And the host must talk to the HOA, landlords and the neighbors about the listing.
Following some aspects will help in creating a good impression among the neighbors and the landlords.
- Sharing the rules regarding the building and the house will help the guest to know their limitations.
- Setting an occupancy limit in allowing the certain group size is a good idea and it will not disturb the neighbors.
- The hosts can get the permission of the guest and share their names and profile pages in the listing.
- The units must have a carbon monoxide and working smoke detector.
- The host must inform the neighbors about the staying of the guests.
- The must also give the guests the details about emergency evacuations and exits and give them an emergency contact number.