If you’re searching for a way to supplement your income and have an additional room in your home that you might rent out, Airbnb may be a wonderful way to convert that extra space into cash.
Airbnb is a corporation that provides tourists with low-cost, short-term rental options in order to avoid exorbitant hotel charges.
Individuals and groups traveling for business or pleasure may use the site to find available rooms, condos, and homes to rent on a daily or weekly basis.
This is Steve and Annette’s true tale about their Airbnb experience. Read it to see whether renting out your spare room on Airbnb may be a good option for you to make some additional money.
AirBnB is helping a real couple make money.
Steve and Annette, two of my friends, were searching for methods to supplement their income. They understand that having numerous sources of income is a very useful tool for individuals who wish to achieve their objectives.
All of Steve and Annette’s children had grown up and left the home. As a result, the majority of their home’s other bedrooms were vacant.
Then it occurred to them that they might make some additional money by listing one of the spare rooms on Airbnb.
They started off by listing one room and earning about $500 each month. They decided to explore if they could advertise a second room in their home when they got the hang of it and raise their revenue in the process.
It was successful. In fact, they are now earning an average of $1,500 a month by renting rooms on Airbnb as of the time of writing this article!
Everything isn’t perfect.
While their Airbnb side venture is bringing them money, it isn’t always a painless method to make money.
The majority of the individuals who have been with them have been wonderful, but they have also had their fair share of difficult visitors.
Steve told me of a time when a man said he would check in at 11 p.m. but then didn’t show up until 1:30 a.m.
This is significant because Steve and Annette like greeting and settling their visitors.
It goes without saying that welcoming people so early in the morning is not ideal.
Where there is a will, however, there is a way. Steven and Annette updated their Airbnb ad to clarify that late-night check-ins are no longer permitted. They also determined that all future visitors would be screened.
There’s no need for tourists to receive clearance from the host before booking with Airbnb’s immediate booking option. When the immediate booking option is turned off, however, a host has the power to vet all applications.
While turning off immediate booking may limit a host’s ability to swiftly earn money from last-minute travelers, screening prospective guests before they book allows hosts to ensure that the guest (s) will fit into their work/life balance.
Steve and Annette are conscious of the need to avoid visitors who could disrupt their work/life balance.
So, even though Airbnb has an option to book right away, they prefer to check out their guests first.
Who Makes Use of Airbnb?
People have stayed with Steve and Annette for different reasons. One couple stayed with them since they were traveling from India to Arizona and needed a place to stay until they could find a permanent home.
They’ve also had guests stay with them when they were out on vacation. Steve and Annette live in Arizona, so this is especially helpful when it’s cold.
In the winter, the average temperature in the Phoenix region is approximately 67 degrees, so visitors come from all over to enjoy the warmth and avoid the snow.
Other reasons why people might use Airbnb include:
Staying for a business meeting
I have to spend a lengthy amount of time with a sick friend or family member.
To attend a large sporting event, such as a Super Bowl or World Series game, requires staying somewhere with access to a kitchen.
They’re able to do their laundry on-site while they’re there.
In order to be able to save money, you must be able to: Airbnb bookings are less expensive than conventional hotel reservations.
What Can I Expect to Earn as an Airbnb Host?
There is money to be earned using Airbnb, but how much you charge for your listing depends on a number of factors, including:
The size of your rental
Proximity to prominent tourist locations such as sports stadiums and other entertainment venues.
In the instance of Steve and Annette, each room is listed for about $55 per night. However, depending on the season, this number may change.
Because Arizona is so hot in the summer, they generally charge lower prices.
They may charge more during the winter months since the weather is so nice and Arizona is a popular destination for visitors trying to escape the cold and snow.
You might earn as much as $700 per month if you chose to become an Airbnb host, posted a spare room in your house or apartment, and charged $50 each night for half of the month (14 days).
One of the best aspects of listing on Airbnb is that you get paid precisely what you charged the visitor. Taxes and fees are added to your nightly rate by Airbnb. So, if you charge $50 each night, you will be paid that amount.
Many customers prefer to be paid using PayPal. However, Airbnb covers the payment processing charge, so you won’t have to worry about that.
What if I want to put my whole house on the market?
Hosts who wish to offer their whole home on Airbnb may do so. The costs for entire home listings vary as well, but it is clear that there is more money to be gained this way.
My wife and I leased a home for $125 per night, and it was rather beautiful. For our computations, we’ll utilize this value.
You could earn $2,500 per month if you could list an entire home for two-thirds of the month.
As you can see, selling the whole property rather than just a single room can net you a lot more money.
I Live in a More Luxurious Environment. What Kind of Money Can I Expect to Make?
A finer residence will usually list for more money on Airbnb. I looked for a four-bedroom, three-bathroom property in Scottsdale, Arizona (a wealthy area) and discovered rentals ranging from $550 to $2,500 per night.
This implies that if you had a very great home and could charge $2,500 each night for two nights a week for a month, you might earn $20,000. This isn’t typical, but it’s feasible.
When it comes to listing your home as a host, there are a few things to keep in mind.
When it comes to advertising your house on Airbnb, you’ll want to be sure you’re protected.
Because there are so many components to being an Airbnb host, you’ll want to be diligent while advertising your house.
It’s also important to let potential guests know what to expect before they book a room or the whole house on your property.
Here are a few things to think about:
In the event that anything is damaged, you may request a security deposit. When people rent an entire house, they usually have to leave a security deposit, but they don’t have to do that when they just rent one room.
You may charge an upfront cleaning fee in order to hire someone or pay for your own time cleaning up after your visitors.Cleaning costs may run anywhere from $15 to $50 for a single room to hundreds of dollars for a whole property.
If so, note whether or not pets are permitted in your listing, and if so, what sorts and sizes are permitted. If you’re offering a private room and have pets of your own, please be sure to include that in the description.
Mention whether or not your location is suitable for children. Even if you’re just offering a single room, a youngster may want or need to accompany you.
Make a note of all the facilities, including wireless internet, cable TV, a washer and dryer, a pool, and so on. Also, provide the locations of prominent tourist attractions and airports in your region, as well as how far you are from them.
If they stay weekly or monthly, give them a discount (this is good because there is less clean up required and less vacancy).
Set aside dates for repairs or upgrades so that customers can’t book during such periods.
What Can You Expect From Airbnb Help?
If you have a question about hosting or a visitor, you can talk to a real person 24 hours a day, seven days a week.
Although some of the support staff are from outside of the United States, they are often extremely compassionate, professional, and helpful in answering your inquiries.
Be Wary of Online Reviews.
Each visitor has the ability to write a review, and you, as the host, may also leave a review for the guest. Reviews increase your trustworthiness and help you achieve the “Super Host” rank.
When people search in your region, having Super Host status puts you closer to the top of the list.
Guest reviews from prior hosts may also reveal a lot about whether or not this individual is a good match for your guest room.
Additionally, if a visitor writes unfavorable evaluations for the majority of the individuals with whom they have stayed, you may want to consider this before approving their reservation.
Because reviews are so vital to Airbnb’s success, it’s crucial to do all you can to ensure that the room or home you’re selling is inviting.
Here are some suggestions for making your visitors feel welcome:
Make sure the room and the whole home are spotless. Make sure the bedding is fresh and clean, and keep the home clutter-free by dusting, vacuuming, or sweeping the floors.
Consider the minor things that a hotel may provide. Towels and washcloths should be folded neatly. Personal-sized soaps, shampoos, and other hygiene goods are available. Fill the room with bottled water.
Consider making a leaflet for each room or the whole home that lists local activities and eateries. Include Lyft, Uber, or the local taxi service’s phone numbers.
Personality is a bonus. Be kind and inviting without being overbearing. Allow most of the non-essential talk to be initiated by the visitor.
It’s also OK to make polite recommendations concerning reviews. While we have no influence over what our guests write, we do speak with them about what they’d want us to write about them and what we’d like them to say.