Have you ever thought of just throwing in the towel, quitting the daily grind and jumping on a plane with a round-the-world ticket? The big thing that stops many people is money. But what if you could get income from renting out your home, without having to work?
Airbnb is becoming a popular source of income for many homeowners while they follow other paths, like living or travelling abroad. But what are the main benefits of being an Airbnb host?
You can generate an extra income passively
Becoming an Airbnb host means you can accrue a higher income and maintain the flexibility to use your property at your convenience. Prices and occupancy rates are based on changes in demand. By charging per night, rental income can fluctuate but hosts can still make significantly more with a vacation rental than with a traditional tenancy contract. The key to a successful Airbnb is how you manage, promote and optimise your listing online and for your guests.#Airbnb hosts can accrue a larger income overall than just letting out the property. Click To Tweet
Time is luxury: more time for you
Opting to be an Airbnb host can provide an income that helps the provider free time up to travel, be involved in other ventures or follow other lifestyle pursuits; so it’s no wonder that it is trending. Being a host means more quality time and leisure plans.
Airbnb ‘Experiences’ offers another income strand for hosts
Airbnb has also created its new Experiences platform. But what is it? Airbnb Experience hosts help guests enjoy authentic local experiences. If you have a love for yoga, you can increase your Airbnb income by signing up as an Experiences host and start to engage your guests by offering a yoga retreat. If you love baking, you could whip up a little something sweet for your guests to welcome them, or you could start baking classes for your guests, offering an insight into local food culture,a huge part of the travel experience. This all adds to the overall Airbnb journey, your profile and income.
Other Airbnb host benefits
- Greater flexibility – more time for family, more time for yourself
- The ability to try new things and experiences – dedicate some time to taking enrichment classes, language lessons or other vocational stuff that you’ve been putting off
- Meet new people – entertaining different guests or making friends through your classes and workshops are the best ways to get to know people who share the same interests
- Diversify your income and earn more – this could be possible for some but depends on what kinds of full-time passion projects or activities you are involved in
- Love what you do (the most important thing point) – you are able to get into something that allows you to be more involved in things that you are truly passionate about and believe in
You don’t have to do the hard work
If you are starved for time it will be a challenge to balance managing a property and your Airbnb guests. This is where short-term rental management and hospitality service companies like GuestReady can step in to help take the hassle out of hosting.