Are you one of those practical folks who like to make money on your things that are just “sitting there”? Do you have an extra room in your home or a basement that isn’t being used? Would you be comfortable renting out that extra space, even for short periods of time? Then maybe you should check out Airbnb.
What is Airbnb?
Airbnb is a site where people from almost 200 countries log in to find places to rent or list. The reasons for wanting to rent out their space is as varied as the individuals themselves. Some are world travelers who are gone from home more than at home. Some are artists or performers who need to travel with their work. Then there are those retirees who like to live part of the year in a different climate.
These individuals also don’t mind making the extra cash renting their places out and in doing so are what Airbnb refers to as “hosts”. The hosts aren’t just limited to renting out traditional spaces such as houses, but are also allowed to rent out apartments, entire Bed & Breakfasts, log cabins, yachts, castles, caves, igloos, and teepees. Imagine what an exciting stay that could make for someone!
Not only do travelers like the adventure of renting out some of these types of places, but they also feel less that they are living out of a suitcase and more like they are connecting to their surroundings. A family can also host them and even help them navigate the area.
When Airbnb was first founded it was more for budget-conscious tourists. Then companies began to realize that they could also save money on travel expenses for their business travelers.
What Benefits Does Airbnb Provide to Travelers and Renters?
Airbnb’s website provides travelers with information on how to get the most out of their stay. Then at the same time, it provides hosts with a “getting started” guide and other information on how to list their properties on the Help page.
There are also tips on using photographs and keywords to promote your property as well as tax information.
What Types of Information Do Hosts Have to Supply to Airbnb?
Before allowing you to host, Airbnb will need to verify your:
- bank account
- location of residence
- phone numbers
- tax information
Airbnb also offers up to $1,000,000 in insurance protection for your property. This will insure you should your property become damaged, but you should still have some type of homeowner’s insurance.
How Much Money Can You Make Renting Out Your Space at Airbnb?
That will all depend on what you are renting out (residential home, yacht, or Bed & Breakfast) as well as:
- your location
- the traveler’s duration of stay
- the amenities you provide (Wi-Fi, dishwasher, etc.)
- the host language (English, French, Danish, Spanish, etc.)
What Do Others Think of Airbnb?
There are so many different properties and hosts out there that the reviews vary quite a bit. You can read for yourself on SiteJabber and TrustPilot to decide if Airbnb would be a good full-time or supplemental income stream for you.
How Could an Interested Individual Sign Up at Airbnb?
Go to the website and click the Become a Host button at the top. Make sure that you check to see if your city is listed. Also, it wouldn’t be a bad idea to go to your local zoning commissioner and get a copy of any and all county laws on parking or zoning.
Are you looking for tips on making as much as you can via Airbnb?
You may want to check out Get Paid For Your Pad: How to Maximize Profit From Your Airbnb Listing. It has a 5-star rating on Amazon out of 108 customer reviews, and it’s also the highest-rated book you’ll find on Amazon that covers the Airbnb earning opportunity. The book includes tips from someone who tripled his income using Airbnb and covers pretty much everything from preparing your house to creating a listing that will get noticed. You can download it for your Kindle or in paperback. The Kindle version is just $9.97.