@Alberta12, you are asking a lot of the right questions! Heck, I'm learning from this!
@Letti0is definitely your expert in this thread. I have a different agenda than most. I am really only doing this for the social/cultural exchange--regardless where someone is from. I was (literally) brought up in a host/guest environment, my entire life. (Not exaggerating!) I just like it. I have a super pretty home and room to share. This is fun. The extra $ is cool, but that's not my motivator, and out of my fee, only a small portion stays with me because I hire help, before and after.
When anyone stays here, they are my guest. No one cleans. No one lifts a finger. And no cleaning deposit.
If a guest forgot something, guaranteed, I have it and it's theirs at no charge.
I have a strict cancellation policy. I don't like the concept of IB because of that 'instant gratification' attitude that seems to come with it. Hey, once you're in my home, you will have such a great experience. Period. And I really like knowing a bit about folks and their expectations--make sure it's a fit. I think my max stay is 3 nights.
Insurance doesn't cost me anything extra because I was so upfront with my company AND the underwriter... comfortable with me because of my attitude and experience... except that I can't cook. (They must have talked to my husband.) 😉 Not really true at all, but liability-wise, I totally understand.
All this said (HAHA, you got a NOVEL!), I've priced myself higher than just about anyone in the county that I'm aware of. It's a bit lower than a nice hotel, but it's my house, and a sweet, semi private (of course, with truly private areas) environment that I'm sharing. Sharing is a good word. For me.
Best,
Kim