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In the beginning of this year me and my partners decided to put our investment apartment on Airbnb. We were hoping that we could get more revenue compared to long term lease. For a two bed room apartment in Cannington, WA we should be able to fetch a weekly rental of $350-$380 for an unfurnished apartment (approx $50 per day). However we were thinking that we might be able to get $100-$120 per day with Airbnb.

From the table above you can see that although long term lease generates less revenue however the investment doesn't require a lot of owner intervention. Currently we have our listing set at an average of $110 per day perhaps this needs to be increase to make it worth while.

Airbnb process!
step1: Guest expresses interest to listing.
step2: Host preforms some qualification before pre-approval.
possible problems\\: Guest doesn't understand how the pricing works, asking for discounts.
step3: Once the host sends a pre-approval, the guest will make a decision to confirm the booking. Guest might have shortlist other listing for their stay.
request\\:early check in, late check out and sleeping arrangements
step 4:Check in day (0.5 - 2 hours)
possible problems\\: flight delays, host have to wait onsite until guest arrives (this can be resolve by implementing self-check in mechanism; rather than meet and greet)
step 5: Induction - need to create a document for the tenant regarding how-to-use
step 6: Check out (leave key inside apartment)
step 7: House keeping (2-3 hours)
possible problem\\: house is trashed! toilet is flooded, walls all scuffed.
time consuming workload\\: laundry drying

If you are an Airbnb Guest please remember:
WE ARE NOT A HOTEL CHAIN, OUR PRICING DOESN'T INCLUDE 500% MARKUP
YOU DIDN'T PAY THE PRICE OF A HOTEL, please turn off all electrical appliance when not in use.
WE DON'T HAVE A 24/7 CONCIERGE SERVICE, don't expect free early and late check ins.
WE EXIST TO DECREASE YOUR HOLIDAY EXPENDITURE, when it isn't beneficial we will simply stop hosting and your choices will decrease significantly.
WE OPEN OUR HOMES TO YOU, please don't take it for granted.

Airbnb hosting expenses:
utilities: electricity, water/gas bills, wifi are deal breakers
nice things: fruits, milk, juices, washing detergents, shampoo/body wash
laundry services: when there is no sun to dry our laundries

Revenue preformance so far:

Days occupied by guest:

So my feedback as a life of an Airbnb host.
I am down in revenue and effort it takes to clean up and process the reservation is extremely high.
DO I QUIT NOW? -- Keep calm and soldier on for another 1/2 year.
Wish me luck! Should you require any tips with furnishing, hosting, reviews, inquiries that you have with Airbnb either has a host or guest, please leave a comment below. Happy to help!

What I would like to achieve:
implementation1\\: enable self check in (in-progress)
implementation2\\: document guides
implementation3\\: increase nightly rate
achievement1\\: achieve minumum 4 star reviews every booking
implementation4\\: increase cleaning fees to make house-keeping worth while